Introduction to the residential mortgage backed securities (RMBS) business
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Understanding the job role of an RMBS Analyst
3
Meet the team and reporting manager
4
Tour of the office or virtual orientation for remote employees
5
Set up HR and Payroll details
6
Training on internal systems and software
7
Understanding the investment criteria of the company for RMBS
8
Review previous RMBS transactions processed by the company
9
Introduction to Bloomberg Terminal and other financial databases
10
Training on company's risk assessment criteria for RMBS
11
Approval: Manager on training completion
12
Practice on Mock RMBS Analysis workbook
13
Understanding Securities Law and Regulatory Compliance
14
Shadowing senior analysts for a week
15
Understanding the role of credit rating agencies in RMBS
16
Approval: Supervisor on work shadowing Week
17
Assignment of first live deal for analysis
18
Revision of training sessions if required
19
Weekly Check-In with Manager
20
Completion of probationary period and final onboarding assessment
Introduction to the residential mortgage backed securities (RMBS) business
Welcome to the exciting world of residential mortgage backed securities (RMBS)! In this task, you will gain an understanding of the RMBS business, including its importance in the financial industry and how it contributes to the overall economy. You will explore the various parties involved, such as mortgage originators, investment banks, and investors. By the end of this task, you will have a solid foundation in the basics of RMBS. What is the significance of RMBS in the financial market? How does the process of securitization work? What are the key players in the RMBS business? What are the potential challenges in the RMBS market and how can they be mitigated? Resources: Presentation slides, industry articles, and online research.
Understanding the job role of an RMBS Analyst
As an RMBS Analyst, you play a vital role in evaluating and analyzing residential mortgage backed securities. In this task, we will explore the responsibilities and skills required for this job role. You will learn about conducting due diligence, assessing risk, and recommending investment opportunities. By the end of this task, you will have a clear understanding of your role as an RMBS Analyst. What are the key responsibilities of an RMBS Analyst? What skills and qualifications are required for this job role? How does the work of an RMBS Analyst contribute to the success of the company? Resources: Job description, internal policies and procedures.
Meet the team and reporting manager
Building strong relationships with your colleagues is essential for a successful onboarding experience. In this task, you will have the opportunity to meet your team members and reporting manager. You will learn about their roles and responsibilities, and how they contribute to the overall success of the company. By the end of this task, you will feel more connected and supported within the team. Who are your team members and what are their roles? Who is your reporting manager and how can they assist you in your role? What are the expectations for communication and collaboration within the team? Resources: Team introduction document, team meeting or video call.
Tour of the office or virtual orientation for remote employees
Whether you are working in the office or remotely, it is important to familiarize yourself with the company's setup. In this task, you will either take a physical tour of the office or participate in a virtual orientation session. You will learn about the different departments, facilities, and resources available to you. By the end of this task, you will feel comfortable navigating the physical or virtual workspace. If working in the office: What are the key areas within the office space? If working remotely: What are the virtual tools and platforms you will be using? How can you access and utilize the necessary resources for your job? Resources: Office floor plan, virtual orientation materials.
Set up HR and Payroll details
To ensure a smooth onboarding process, it is important to complete your HR and payroll details accurately and promptly. In this task, you will provide the necessary information to set up your HR and payroll profiles. You will learn about the company's policies and procedures related to HR and payroll. By the end of this task, your HR and payroll details will be established in the system. What personal and contact information is required for HR records? What documents do you need to provide to complete the HR and payroll process? What are the company's policies regarding attendance, leaves, and benefits? Resources: HR forms, company policies.
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Sales
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Operations
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Finance
4
HR
5
Marketing
Training on internal systems and software
In order to perform your role effectively, it is essential to have a good understanding of the company's internal systems and software. In this task, you will receive training on the specific tools and applications used for RMBS analysis. You will learn how to navigate the systems, access relevant data, and generate reports. By the end of this task, you will be equipped with the necessary knowledge and skills to utilize the internal systems. What are the key features and functionalities of the internal systems and software? How can you access and retrieve the required data for analysis? What are the best practices for data entry, organization, and documentation? Resources: User manuals, training videos, hands-on practice exercises.
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Beginner
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Intermediate
3
Advanced
Understanding the investment criteria of the company for RMBS
As an RMBS Analyst, it is crucial to understand the investment criteria of the company. In this task, you will learn about the factors considered when selecting RMBS for investment. You will gain insights into the company's risk tolerance, return expectations, and investment preferences. By the end of this task, you will have a clear understanding of the investment criteria. What are the key factors considered when selecting RMBS for investment? What is the company's risk tolerance and return expectations? What are the specific investment preferences of the company? Resources: Investment policy documents, investment committee presentations.
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Low
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Medium
3
High
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Conservative
2
Moderate
3
Aggressive
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Prime Loans
2
Subprime Loans
3
Fixed Rate Mortgages
4
Adjustable Rate Mortgages
5
Secondary Market Loans
Review previous RMBS transactions processed by the company
To gain a deeper understanding of the company's RMBS business, it is important to review previous transactions. In this task, you will analyze and evaluate a selection of past RMBS deals processed by the company. You will examine the structure, performance, and key characteristics of these deals. By the end of this task, you will have insights into the company's track record and lessons learned from previous transactions. What are the key features of the selected RMBS deals? How did these deals perform in terms of risk and return? What are the lessons learned from analyzing these deals? Resources: Deal summaries, performance reports, internal analysis reports.
Introduction to Bloomberg Terminal and other financial databases
As an RMBS Analyst, you will rely heavily on financial databases to gather and analyze data. In this task, you will receive an introduction to Bloomberg Terminal and other essential financial databases. You will explore the features and functionalities of these platforms and learn how to retrieve the necessary data for RMBS analysis. By the end of this task, you will be familiar with the key financial databases used in the industry. What are the key features and functionalities of Bloomberg Terminal? What other financial databases are commonly used in the industry? How can you retrieve relevant data from these platforms? Resources: Bloomberg Terminal tutorials, user guides for financial databases.
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Thomson Reuters Eikon
2
FactSet
3
Morningstar Direct
4
S&P Capital IQ
5
Trepp
Training on company's risk assessment criteria for RMBS
Understanding and assessing risk is a fundamental aspect of the RMBS Analyst role. In this task, you will receive training on the company's risk assessment criteria for RMBS. You will learn how to analyze credit risk, prepayment risk, and other key risk factors associated with RMBS. By the end of this task, you will have a solid understanding of the company's risk assessment framework. What are the key risk factors associated with RMBS? How does the company assess credit risk and prepayment risk? What are the specific risk assessment criteria used by the company? Resources: Risk assessment guidelines, risk models, case studies.
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Credit Risk
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Prepayment Risk
3
Interest Rate Risk
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Liquidity Risk
5
Market Risk
Approval: Manager on training completion
Will be submitted for approval:
Training on internal systems and software
Will be submitted
Practice on Mock RMBS Analysis workbook
To enhance your analytical skills, it is important to practice on mock RMBS analysis workbooks. In this task, you will receive a mock RMBS analysis workbook and complete a series of exercises. You will analyze the deal structure, assess risk, and generate investment recommendations based on the provided data. By the end of this task, you will have gained hands-on experience in RMBS analysis. What is the deal structure of the mock RMBS? What risk factors should be considered in the analysis? What are your investment recommendations based on the provided data? Resources: Mock RMBS analysis workbook, answer sheet with model solutions.
Understanding Securities Law and Regulatory Compliance
Compliance with securities law and regulations is a critical aspect of the RMBS Analyst role. In this task, you will learn about the key securities law frameworks and regulatory requirements relevant to the RMBS business. You will gain insights into the legal and compliance obligations that must be fulfilled in your role. By the end of this task, you will have a comprehensive understanding of securities law and regulatory compliance. What are the key securities law frameworks applicable to RMBS? What are the regulatory requirements that must be adhered to? How can you ensure compliance with securities law and regulations? Resources: Securities law documents, compliance manuals, training materials.
Shadowing senior analysts for a week
To accelerate your learning and refine your skills, you will have the opportunity to shadow senior analysts for a week. In this task, you will observe and assist senior analysts in their daily activities. You will gain insights into their analytical techniques, decision-making processes, and communication with clients and other stakeholders. By the end of this task, you will have acquired valuable knowledge and experience from seasoned professionals. What are the key responsibilities and tasks of the senior analysts? What analytical techniques do they use to assess RMBS? How do they communicate effectively with clients and other stakeholders? Resources: Shadowing schedule, observation checklist, Q&A sessions with senior analysts.
Understanding the role of credit rating agencies in RMBS
Credit rating agencies play a crucial role in the RMBS market by assessing the creditworthiness of the underlying mortgage loans. In this task, you will learn about the role and function of credit rating agencies in the RMBS business. You will explore the rating process, criteria, and methodologies used by these agencies. By the end of this task, you will understand how credit ratings impact the RMBS market. What is the role of credit rating agencies in the RMBS market? How do credit rating agencies assign ratings to RMBS? What are the key factors considered in the rating process? Resources: Research articles, credit rating agency reports, RMBS prospectuses.
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Credit assessment
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Investor protection
3
Market transparency
4
Risk mitigation
5
Regulatory compliance
1
Loan-to-Value Ratio
2
Debt-to-Income Ratio
3
Credit Score
4
Payment History
5
Property Type
Approval: Supervisor on work shadowing Week
Will be submitted for approval:
Shadowing senior analysts for a week
Will be submitted
Assignment of first live deal for analysis
Congratulations! You have reached the stage where you will be assigned your first live deal for analysis. In this task, you will receive a real-world RMBS deal to evaluate and analyze. You will apply your knowledge, skills, and training to assess the deal's risk and investment potential. By the end of this task, you will have completed your first live deal analysis. What is the deal structure and key characteristics of the assigned RMBS deal? What are the risk factors to consider in the analysis? What are your investment recommendations based on your analysis? Resources: Live deal documents, analysis templates.
Revision of training sessions if required
Continuous learning and improvement are essential in the RMBS Analyst role. In this task, you will have the opportunity to revise any training sessions or materials if needed. You can revisit specific topics or seek clarification on concepts that may still be unclear. By the end of this task, you will feel confident and up-to-date with the necessary training. Which training topics or materials would you like to revise? What specific areas or concepts require further clarification? What resources or support do you need for effective revision? Resources: Training materials, training facilitator, internal knowledge base.
Weekly Check-In with Manager
Regular communication with your manager is key to your professional growth and success. In this task, you will have a weekly check-in meeting with your manager. You will discuss your progress, challenges, and any support or guidance you may need. By the end of this task, you will receive feedback and guidance to enhance your performance. What are your achievements and challenges since the last check-in? What support or guidance do you need from your manager? What feedback or suggestions does your manager have for your professional development? Resources: Check-in meeting agenda, performance dashboard, feedback form.
Completion of probationary period and final onboarding assessment
Congratulations on completing your probationary period! In this final task, you will go through a final onboarding assessment to evaluate your overall performance and readiness for full integration into the RMBS Analyst role. You will demonstrate your knowledge, skills, and ability to analyze and assess RMBS deals. By the end of this task, you will have completed your onboarding journey and be ready to take on new challenges. What areas have you excelled in during your probationary period? What areas require further improvement or development? What goals and aspirations do you have as an RMBS Analyst? Resources: Onboarding assessment guidelines, assessment materials.
