Fixed Income Division - Associate/Vice President, Agency MBS CMO/Derivatives Trading

Morgan Stanley • New York, NY

2d

About The Position

Morgan Stanley's Fixed Income Division is seeking an experienced Associate to VP to join the Collateralized Mortgage Obligation (CMO) / Agency Derivatives (IO/IIO) desk. This role involves pricing, hedging, evaluating, managing a book, and engaging with clients as an MBS CMO/derivatives trader and market maker. The position requires assessing relative value across agency specified pool, CMO, and derivatives markets, and formulating, expressing, and executing trade ideas within rates, vol, and mortgages. The role also includes interacting with a diverse client base to provide liquidity and build relationships, as well as assisting with PnL reporting, market color compilation, and weekly commentary. Collaboration with internal teams such as IT, strats, sales, other trading desks, research, operations, and finance is essential.

Requirements

• Strong quantitative, analytical and interpersonal skills
• Proactive worker with the ability to work as part of a close-knit team as well as independently
• High level of initiative, motivation, attention to detail, positive attitude, and the ability to work in a fast paced environment
• Minimum education qualification is a Bachelor's degree

Nice To Haves

• Experience structuring or trading CMOs is preferred

Responsibilities

• Price, hedge, evaluate, manage book, and engage with clients as an MBS CMO/derivatives trader and market maker
• Assess relative value across agency specified pool, CMO and derivatives market
• Formulate, express and execute trade ideas within rates, vol and mortgages, in products including but not limited to: treasury futures and futures options, swaps and swaptions, mortgage TBAs and TBA options
• Interact with diverse client base to provide liquidity as a market maker and build firm relationships
• Assist desk with PnL reporting, compiling market color, indications, and weekly commentary
• Maintain frequent dialogue with teams internally including but not limited to: IT, strats, sales, trading desks, research, operations, and finance

Benefits

• Total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level