Location
London

Hours
Full Time

Salary
Competitive, commensurate with experience

About the Role
PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging decades of experience navigating complex debt markets. Our flexible capital base and strong issuer relationships have made us one of the world’s largest providers of traditional and nontraditional financing solutions and trusted advisors to investors seeking strong risk-adjusted returns. Since 1971, our people have shaped PIMCO through a high-performance inclusive culture that celebrates diverse thinking and embodies our CORE values of Collaboration, Openness, Responsibility, and Excellence.

The alternatives business at PIMCO is expanding its fund offerings and remains a key growth area. We are seeking a highly technical quantitative analyst / desk quant to join our London front office trading mortgages analytics team. You will support Portfolio Managers in investment and asset management decisions by developing and implementing new pricing models, particularly for bespoke transaction features, primarily using Python. The role requires strong collaboration with Portfolio Managers and contribution to large coding infrastructures.

Responsibilities include coverage of RMBS and broader ABS markets across core and peripheral Europe (UK, Netherlands, Spain, Italy), focusing on non-agency and complex structures such as mezzanine/equity tranches and legacy dislocated securitized assets. The role involves significant exposure to non-performing and re-performing loan securitizations and whole loan portfolios within private structures, with an emphasis on loan-level and cashflow modelling, collateral analysis, recovery assumptions, and structural waterfalls.

Experience
- Minimum of 3 years in a front office quantitative role at a top sell-side or buy-side institution
- Strong familiarity with mortgage products, Intex, and data analysis or empirical modelling is highly desirable
- Proven experience designing, coding, and implementing pricing and surveillance frameworks for automation and task streamlining
- Exceptional quantitative and analytical skills including advanced pricing techniques (Monte Carlo, prepayment modelling, scenario engines), asset pricing theory, probability theory, and cash flow/bond mathematics (e.g. OAS calculations)

About you
- Highly technical with a strong understanding of mortgage analytics and modelling
- Proficient in Python with experience contributing to large coding infrastructures; limited or hobby-level Python experience is insufficient
- Ability to develop new pricing models and approaches for bespoke transaction features
- Strong interpersonal skills with the ability to work closely with Portfolio Managers and build strong relationships
- Familiarity with statistical coding packages and modelling in SAS, R, or Python
- Working knowledge of Linux/Unix/Bash and SQL is a plus

Qualifications
- Master’s degree or PhD in Mathematics, Physics (non-experimental), Probability/Statistics, Engineering, or (Mathematical) Finance