Responsible for trading Agency Mortgage-Backed Securities, analyzing financial models, developing tools for market trends, and collaborating with internal teams.
Job Description
DESCRIPTION:
Duties: Trade specified pools across Uniform Mortgage Backed Securities (UMBS)/Ginnie 30Y/15Y and work on short/medium-term risk via opportunistic To-Be-Announced (TBA) and rate hedges due to semi-illiquid product nature. Develop mechanisms to understand supply/demand imbalances. Create tools that monitor market trends using strong quantitative and coding aspects. Identify relative value opportunities for the firm and clients based on in-depth analysis of the cash flows backing the securitized asset. Analyze financial modeling, and drive commercial outcomes via data analysis. Price origination pipeline while providing secondary flow liquidity in pool space. Analyze prepayment models to understand non-linear cash flows and perform scenario analysis. Collaborate between spec pool & Collateralized Mortgage Obligation (CMO) teams to maximize value creation from pool collateral. Brainstorm rolls and hedging strategies with the flow desk. Engage with clients to understand their needs, address inquiries, and provide appropriate solutions in Agency Mortgage-Backed Securities (Agency MBS). Execute trades accurately and efficiently, adhering to established protocols and regulatory guidelines. Provide liquidity to market participants in the Agency MBS space. Monitor market trends and developments to inform trading strategies and decision-making. Collaborate with internal teams to optimize trading processes and improve overall efficiency.
QUALIFICATIONS:
Minimum education and experience required: Bachelor's degree in Economics, Mathematics, Computer Science, Business Administration, or related field of study plus 2 years (24 months) of experience in the job offered or as Corporate & Investment Bank, Trading or related occupation.
Skills Required: This position requires experience with the following: MBS prepayment and interest rate risk; Prepayment models to project prepayments and running sensitivity analysis to different yield curve scenarios; Performing relative value analysis on mortgage basis, spread risk, coupon swaps, coupon flies, and agency swaps including Ginnie Mae, Fannie Mae, and term swaps including Fannie 15y/30y;Option adjusted risk metrics including OAS, OAD, OAC; Treasury spread risk metrics including I-spread and Z-spread; Financial asset metrics including loan term, weighted average coupon, factors, yield, book value, credit score, loan-to-value, and debt- to-income; Prepayment concepts including CPR, PSA, SMM, curtailment, buyouts, and cash-out; Working with state-level mortgage laws in New York, Florida and Texas; GSE loan-level price adjustment; Utilizing Bloomberg Yield Table, Roll Analysis, and TBA Pricer to price Agency ARMs and Fixed Rate Mortgages; Hedging specified pools; Market making in specified pools; financial accounting regarding AFS/HTM portfolios of US domestic banks and how regulations such as Basel III affect capital cost; Generating graphs and tables to demonstrate mortgage bond math and mortgage backed security structuring concepts; collateral selection to re-structure single-class pass through securities with Fannie Mae and Freddie Mac; Collateralized Mortgage Obligation (CMO) market; Trading platforms including Tradeweb, and Dealerweb; Trading treasury market with treasury futures contracts; VBA; Python. This position requires the following license(s): Series 7, Series 63, and SIE.
Job Location: 383 Madison Ave, New York, NY 10179.
Full-Time. Salary: $175,000 - $200,000 per year.
About Us
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About the Team
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
DESCRIPTION:
Duties: Trade specified pools across Uniform Mortgage Backed Securities (UMBS)/Ginnie 30Y/15Y and work on short/medium-term risk via opportunistic To-Be-Announced (TBA) and rate hedges due to semi-illiquid product nature. Develop mechanisms to understand supply/demand imbalances. Create tools that monitor market trends using strong quantitative and coding aspects. Identify relative value opportunities for the firm and clients based on in-depth analysis of the cash flows backing the securitized asset. Analyze financial modeling, and drive commercial outcomes via data analysis. Price origination pipeline while providing secondary flow liquidity in pool space. Analyze prepayment models to understand non-linear cash flows and perform scenario analysis. Collaborate between spec pool & Collateralized Mortgage Obligation (CMO) teams to maximize value creation from pool collateral. Brainstorm rolls and hedging strategies with the flow desk. Engage with clients to understand their needs, address inquiries, and provide appropriate solutions in Agency Mortgage-Backed Securities (Agency MBS). Execute trades accurately and efficiently, adhering to established protocols and regulatory guidelines. Provide liquidity to market participants in the Agency MBS space. Monitor market trends and developments to inform trading strategies and decision-making. Collaborate with internal teams to optimize trading processes and improve overall efficiency.
QUALIFICATIONS:
Minimum education and experience required: Bachelor's degree in Economics, Mathematics, Computer Science, Business Administration, or related field of study plus 2 years (24 months) of experience in the job offered or as Corporate & Investment Bank, Trading or related occupation.
Skills Required: This position requires experience with the following: MBS prepayment and interest rate risk; Prepayment models to project prepayments and running sensitivity analysis to different yield curve scenarios; Performing relative value analysis on mortgage basis, spread risk, coupon swaps, coupon flies, and agency swaps including Ginnie Mae, Fannie Mae, and term swaps including Fannie 15y/30y;Option adjusted risk metrics including OAS, OAD, OAC; Treasury spread risk metrics including I-spread and Z-spread; Financial asset metrics including loan term, weighted average coupon, factors, yield, book value, credit score, loan-to-value, and debt- to-income; Prepayment concepts including CPR, PSA, SMM, curtailment, buyouts, and cash-out; Working with state-level mortgage laws in New York, Florida and Texas; GSE loan-level price adjustment; Utilizing Bloomberg Yield Table, Roll Analysis, and TBA Pricer to price Agency ARMs and Fixed Rate Mortgages; Hedging specified pools; Market making in specified pools; financial accounting regarding AFS/HTM portfolios of US domestic banks and how regulations such as Basel III affect capital cost; Generating graphs and tables to demonstrate mortgage bond math and mortgage backed security structuring concepts; collateral selection to re-structure single-class pass through securities with Fannie Mae and Freddie Mac; Collateralized Mortgage Obligation (CMO) market; Trading platforms including Tradeweb, and Dealerweb; Trading treasury market with treasury futures contracts; VBA; Python. This position requires the following license(s): Series 7, Series 63, and SIE.
Job Location: 383 Madison Ave, New York, NY 10179.
Full-Time. Salary: $175,000 - $200,000 per year.
About Us
JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
About the Team
J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
Top Skills
Bloomberg
Dealerweb
Python
Tradeweb
VBA
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