CIB Agency Mortgage Backed Securities Trader, Vice President

Santander

9d • $225,000 - $280,000 • Onsite

About The Position

The Agency Mortgage-Backed Securities (“MBS”) Trading Vice President is responsible for market-making, risk management, trade execution, and revenue generation across Agency MBS products. The role requires deep knowledge of mortgage markets, strong quantitative and analytical capabilities, and the ability to make timely trading decisions in a fast-paced, risk-controlled environment. You will partner closely with Institutional Sales, Research, Structuring, Operations, Finance, Technology, Risk, and Compliance to deliver liquidity, market insights, and trade ideas to institutional clients while managing the firm’s positions in accordance with established risk limits and regulatory requirements.

Requirements

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
• The requirements listed below are representative of the knowledge, skill, and/or ability required.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Nice To Haves

• Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.

Responsibilities

• Make markets and execute transactions across Agency MBS products, including To-Be-Announced securities, specified pools, pass-through securities, and related mortgage products.
• Manage trading positions, market risk, basis risk, convexity risk, prepayment exposure, and daily profit and loss within approved limits.
• Price securities and evaluate relative-value opportunities using market data, prepayment assumptions, yield and spread analysis, option-adjusted spread analysis, and other mortgage analytics.
• Develop and execute hedging strategies using U.S. Treasury securities, futures, swaps, options, and other appropriate instruments.
• Monitor macroeconomic developments, interest-rate movements, Federal Reserve activity, housing-market trends, mortgage origination dynamics, and regulatory developments that may affect Agency MBS valuations.
• Generate actionable trade ideas and communicate market color, pricing, liquidity, and risk considerations to Institutional Sales and clients.
• Support the growth of the Agency MBS franchise by deepening client relationships, identifying revenue opportunities, and contributing to broader fixed-income strategy.
• Collaborate with Research and Sales to develop client-facing content and differentiated market perspectives.
• Maintain accurate position, risk, valuation, and profit-and-loss records and promptly investigate or escalate discrepancies.
• Ensure trading activity complies with applicable laws, regulations, firm policies, supervisory procedures, and market-conduct standards.
• Partner with Market Risk, Credit Risk, Compliance, Operations, and Finance to resolve trade, valuation, control, and reporting matters.
• Contribute to the development and enhancement of pricing tools, trading analytics, automated processes, and risk-management infrastructure.
• Provide guidance and technical support to junior traders, analysts, and other team members.
• Demonstrate sound judgment, disciplined risk management, and a strong commitment to ethical conduct and the firm’s values.

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
• Education Level: No Education Listed