CIB Agency CMBS Associate

Santander

4d • $175,000 - $225,000 • Onsite

About The Position

The Agency CMBS Associate is a front-office role within the CIB Markets group supporting the trading, risk management, and client activities of the Agency CMBS desk. The Associate will partner with senior traders and sales professionals to price and execute transactions, analyze relative value and security structures, monitor positions and risk, and provide timely market color and trade ideas. The role collaborates closely with Research, Operations, Risk, Finance, Legal, and Compliance.

Requirements

• Bachelor’s Degree: in Finance, Economics, Mathematics, Engineering, Computer Science, or a related field, or equivalent demonstrated through a combination of work experience, training, military service, or education - Required.
• 2+ Years of relevant Sales & Trading experience; Agency CMBS or securitized-products experience preferred.
• Highly motivated with a drive to succeed.
• Strong quantitative and qualitative skills.
• Ability to be flexible, adapt to changing priorities and prioritize deadlines.
• Advanced in Microsoft Office applications (Word, Excel) with ability to learn new software(s). Modeling skills preferred.
• Proven ability work collaboratively in a team environment.
• Ability to work under pressure.
• Strong verbal and written communication skills, organizational skills and project management skills.
• FINRA SIE and applicable registrations, including Series 7 and 63 as applicable, must be obtained within firm-established timeframes

Nice To Haves

• Familiarity with Freddie Mac K-Series, Fannie Mae DUS, Ginnie Mae project-loan securities, or comparable agency multifamily products.
• Experience with Bloomberg, Intex, Yield Book, or comparable analytics tools.
• Experience with Python, SQL, VBA, or other workflow-automation tools.

Responsibilities

• Supports trading and market-making in Agency CMBS and related securitized products in primary and secondary markets.
• Prices securities and responds to client inquiries; supports trade execution within approved limits.
• Develops relative-value views using spread, cash-flow, collateral, prepayment, extension, liquidity, and technical analysis.
• Analyzes Agency CMBS structures, collateral, and cash flows across agency multifamily and commercial mortgage programs.
• Monitors positions, inventory, profit and loss, market risk, liquidity, and hedge effectiveness.
• Assists in developing and executing hedging strategies using appropriate rates and spread products.
• Partners with Sales to provide market color, axes, portfolio analysis, and actionable client ideas.
• Tracks new issuance, investor demand, dealer positioning, agency-program developments, and broader rates-market trends.
• Maintains accurate marks, trade bookings, and position data; resolves breaks, fails, and settlement issues.
• Builds and improves analytical models, dashboards, and workflow tools in Excel and other approved platforms.
• Contributes to desk projects, process improvements, product development, and junior team development.

Benefits

• A fair and competitive rewards package that reflects the impact you create and the value you deliver.
• Benefits are designed to support you, your family and your well-being, now and into the future.

What This Job Offers

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