Director, Head of Residential Whole Loan Investments

The posting, as Obra Capital, Inc wrote it

Obra Capital is a credit-focused investment manager with a growing platform across private credit, insurance lending, and structured products. We are building a dedicated residential whole loan investment capability and are seeking a Director to lead this effort — from platform construction and acquisition strategy through trading, portfolio management, and capital markets execution across residential whole loan investments.

The ideal candidate has built or materially expanded a whole loan platform at a buy-side institution — a REIT, asset manager, insurance company, or specialty finance firm.

The Role

As Director, reporting to Obra’s Head of Multi-Sector Credit, this role will oversee Obra Capital's whole loan investment strategy. This role will lead the origination, acquisition, trading, and portfolio management of whole loan pools. A critical dimension of this role is partnering with Obra's insurance clients to understand their investment objectives, risk appetite, and regulatory constraints, and developing and implementing insurance-specific asset allocation strategies that match whole loan opportunities to client needs.

Responsibilities

Platform Build & Strategy

• Define and execute the strategic roadmap for Obra's whole loan platform
• Establish and maintain sourcing relationships with originators, correspondent lenders, brokers, aggregators, and direct sellers across residential mortgage, consumer, ABF, and small-balance commercial segments
• Build the infrastructure required to support the platform: underwriting guidelines, credit policy, hedging policy, rate sheet/pricing framework, due diligence workflow, custodial and servicing arrangements, data and analytics, and operational processes

Insurance Portfolio Management & Asset Allocation

• Work directly with existing and prospective insurance company clients to understand investment objectives, risk appetite, liability profiles, and regulatory constraints
• Work within our existing Multi-Sector credit team by leveraging whole loan investments to effectively match opportunities to client objectives — including liability duration, convexity, credit risk tolerance, and FHLB requirements
• Identify investment opportunities tailored to each client's liability profile, capital structure, and risk tolerance; develop bespoke solutions that optimize risk-adjusted returns within insurance regulatory frameworks

Acquisition & Trading

• Lead whole loan acquisition activities across flow and bulk executions, including sourcing, structuring, bid management, and trade settlement
• Evaluate bid packages and pools across asset classes; conduct credit and collateral due diligence; structure purchases to optimize risk-adjusted returns
• Determine best-execution strategies — whole loan holds versus securitization alternatives — to optimize deployment efficiency and portfolio P&L
• Manage daily pricing, rate sheets, position risk, and inventory across the whole loan book, including marg

[…]
gulatory frameworks relevant to consumer lending, mortgage origination across multiple insurance regimes

• Exposure to both performing and non-performing or special servicing loan portfolios across multiple asset classes
• Prior involvement in investor relations or capital raising for a whole loan or structured credit strategy
• Entrepreneurial track record — demonstrated ability to build systems, teams, and processes in an environment that did not previously have them
• Exposure to adjacent asset classes: Residential Transition Loans (Fix and Flip) and Second Liens

A bout Obra Capital

Obra Capital is a credit-focused investment manager committed to delivering superior risk-adjusted returns across market cycles. Our team combines deep credit expertise with a disciplined investment process and a culture that rewards ownership, intellectual honesty, and results. We are building a platform where exceptional people have the resources, autonomy, and support to do the best work of their careers.

Compensation

The expected base salary range for this role is outlined below. In addition to the base salary, total compensation may include a discretionary bonus based on performance. This range given is a best faith estimate which reflects a variety of factors, including years of relevant experience, education, location and other qualifications pertinent to the position. Base salary does not include any other performance based compensation such as year end cash bonus.

The firm also offers robust Benefits offerings which include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; and Commuter Benefits plan for parking and transit. In addition all employees of Obra are provided with a daily lunch stipend.

Salary Range
$200,000 — $250,000 USD