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Quantitative Model Developer, NRZ

New York

Permanent Capital Vehicles, Private Equity

Ref#: 2234

Date published: 1-Oct-2018

About Fortress


Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $41.4 billion of assets under management as June 30, 2018. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com


Job Description 


New Residential Investment Corp. Quantitative Model Developer


New Residential Investment Corp. (NYSE: NRZ) is a publicly traded real estate investment trust focused on opportunistically investing in, and actively managing, investments primarily related to residential real estate. The Company is managed by an affiliate of Fortress Investment Group LLC (“Fortress”), a global investment management firm. 

In addition to its strong focus on investments in Mortgage Servicer Rights (MSRs), NRZ also invests in RMBS, mortgage loans, and other opportunistic investments. With access to the public capital markets, and the strong sponsorship of Fortress, NRZ expects to continue to grow via acquisition of financial assets as well. 


The quantitative model developer will combine strong data analysis, software development, and collaborative skills to help build a high-performance risk analytics platform for non-securitized mortgage asset management.


Responsibilities Include:


Perform exploratory data analysis and collateral surveillance to assist in the portfolio management strategy

Leverage large data analysis techniques to build models for portfolio management purposes

Build collateral and model surveillance reports

Implement MSR cash flow generation and prepayment models


Qualifications/Skills Required:


2-5 years of experience using Python, R, C++, SQL, AWS to develop applications for production settings

Knowledge of Intex, Polypaths, Yield Book, CoreLogic and agency mortgage data

Experience working with mortgage servicing rights and advances, whole loans, consumer loans, US and European RMBS

Familiarity with statistical regression techniques and predictive analytics methods

Excellent communication skills and ability to collaborate effectively with a team


Educational Requirements:


Advanced degree in a quantitative discipline (financial engineering, computer science, math, science, economics)

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Fortress Investment Group LLC collectively with its subsidiaries and operating affiliates is an equal opportunity employer and considers all applicants for employment without regard to race, religion, creed, color, sex, age, national origin, citizenship status, disability, genetic information, protected veteran status, marital status, sexual orientation, gender identity, or any other status protected by federal, state or local law.