BMO Capital Markets Corp seeks CM VP-IC Global Markets in New York, NY to source Mortgage-backed securities (MBS) collateral for new issue Collateralized Mortgage Obligation (CMO) deals. Structure CMO deals and trade some of the resulting pieces across a varied client base while managing risk of the remaining pieces and utilizing appropriate hedges to preserve the pricing of CMOs. Conduct market analysis to uncover emerging trends within Agency MBS and CMO that directly influence trading decisions. Constantly reevaluate existing hedges based on changing market conditions and dynamically adjust those hedges to reduce risk exposure of the portfolio. Provide market insights to help clients identify profitable trading opportunities that align with their investment objectives. Build tools that streamline daily trading operations and analytics specific to MBS that help the trading desk in making more informed trading decisions and optimize hedging framework. Nurture robust relationships with clients by engaging daily in market conversations, sharing relevant market color, organizing regular in-person meetings and phone calls. Effectively communicate with key stakeholders within the firm including market risk oversight teams, compliance, and risk officers regarding risk limits and ensure that all market risks within the portfolio are consistent with the business strategy, the market segment, and bank's appetite for risk. Regularly engage in brainstorming sessions to generate and evaluate new trade ideas. Conduct thorough deal tie-outs and reconciliations post-execution and validate trade details to ensure accuracy and completeness of trades. Collaborate closely with sales teams to identify client needs and deliver customized trading solutions and write trade ideas to enhance client satisfaction.
Requirements: Bachelor's degree in Economics, Operations Research, Mathematics, Statistics, or related field (willing to accept foreign education equivalent) plus five (5) years of experience analyzing markets, optimizing hedging, and trading and managing MBS and MBS-related derivatives including CMOs and mortgage options. Alternatively, a Master's degree in Economics, Operations Research, Mathematics, Statistics, or related field (willing to accept foreign education equivalent) plus three (3) years of experience analyzing markets, optimizing hedging, and trading and managing MBS and MBS-related derivatives including CMOs and mortgage options. Experience must include (quantitative experience requirements not applicable to this section): Utilizing Excel, VBA, Python, and SQL in a professional trading desk setting; Utilizing Yield Book, Bloomberg, and Intex dealmaker for agency Mortgage-backed Securities (MBS); Pricing, trading, and utilizing interest rate and mortgage options to hedge portfolio and enhance returns; Conducting trading, risk management, and contributing to desk P&L as an Agency MBS trader; Trading and performing risk management of agency mortgage-backed securities including TBAs and specified pools, and other agency securities including Agency debentures and Agency callable debt and hedging with US treasury, future, and interest rate derivatives; and structuring and closing agency Collateralized Mortgage Obligation (CMO) deals. Series 7, 63, and SIE licenses required.
Salary:
The salary for this specific position in New York, NY is $250,000.00/year.
Salary:
Pay Type:
Salaried
The above represents BMO Financial Group's pay range and @type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.
BMO Financial Group's total compensation package will vary based on the pay @type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://jobs.bmo.com/us/en
BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereo@types, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.
BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.
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