Agency MBS Portfolio Manager – Associate

JPMorgan Chase & Co. • New York, NY

6d • $150,000 - $200,000

About The Position

The Treasury and Chief Investment Office (TCIO) is responsible for firm-wide asset and liability management, including developing and executing the firm's capital, balance sheet, liquidity, and funding strategy. It oversees an $800 billion global investment securities portfolio used to earn returns on excess deposits while managing the firm's interest rate risk against its liabilities.

The Agency Mortgage-Backed Securities Team is part of TCIO's broader fixed-income investment portfolio. The Associate or Vice President will generate research, execute trades, and monitor markets as part of a team managing the firm's Agency MBS investments. The objective is to maximize risk-adjusted returns in the context of the firm's overall objectives and capital and liquidity framework.

JPMorganChase offers a competitive total rewards package, which may include commission-based pay or discretionary incentive compensation for eligible roles. Benefits, subject to eligibility, include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, and financial coaching. The company is an equal opportunity employer and provides reasonable accommodations for religious practices and beliefs, as well as mental health or physical disability needs.

Requirements

• At least 3 years of relevant experience in fixed-income sales and trading, portfolio management, or research.
• Strong understanding of interest rates and fixed-income markets.
• Strong quantitative and data analysis skills.
• Self-starter able to continually drive results under uncertainty.
• Excellent communication skills, including the ability to convey complex ideas simply.
• Team-oriented, collaborative mindset and ability to engage in and promote healthy discussion about markets and potential investments.

Nice To Haves

• Strong understanding of mortgage market dynamics, prepayments, and convexity.
• Proficiency in Python or a similar tool for manipulating and analyzing data.
• Knowledge of macroeconomics and macro-driven investing.
• At least 3 years of relevant Agency MBS fixed-income experience in areas such as sales and trading, portfolio management, or research.

Responsibilities

• Conduct data-driven relative-value analysis to generate trade ideas and inform overall MBS exposure, coupon positioning, and security selection across TBA and specified pool markets.
• Execute trades, engage in dialogue, and build relationships with sell-side counterparties, incorporating market color and axes into the desk's view.
• Analyze supply and demand, prepayments, housing, and the macro environment to inform positioning.
• Improve desk processes and analytics.
• Prepare and deliver presentations and market updates for the broader TCIO Investment Portfolio team and senior management.
• Work with business partners including Middle Office, Risk, Finance, and TCIO Strategy.

Benefits

• Comprehensive health care coverage
• On-site health and wellness centers
• Retirement savings plan
• Backup childcare
• Tuition reimbursement
• Mental health support
• Financial coaching
• Competitive total rewards package
• Commission-based pay and/or discretionary incentive compensation for eligible roles

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed