CMBS Trader

Deutsche Bank • New York, NY

4d • $180,000 - $220,000 • Hybrid

About The Position

The CMBS Trading desk sits within the Global Securitized Trading business unit. The desk acts as a market maker across commercial mortgage-backed securities products, providing liquidity, market insight, and risk intermediation to institutional clients. The successful candidate will join as a Vice President on the CMBS Trading desk in New York, partnering closely with Institutional Client Group (“ICG”) Sales, Capital Markets, Research, and structuring teams to support client franchise growth, secondary market liquidity, and primary distribution activities.

Requirements

• Relevant experience in CMBS, structured credit, securitized products, or a closely related trading role on the buy side or sell side.
• Strong understanding of CMBS market structure, collateral analysis, deal underwriting, and relative value across the capital structure.
• Demonstrated ability to manage risk effectively and contribute to profitable trading performance in a fast-paced market environment.
• Experience working closely with institutional clients and sales partners to communicate market views, trading opportunities, and product insights.
• Strong analytical skill set.
• Excellent communication skills, sound judgment, and the ability to operate collaboratively across trading, sales, capital markets, and control functions.

Nice To Haves

• Help lead the development of the CMBS franchise by strengthening client connectivity, expanding market share, and contributing to the desk’s commercial strategy.
• Mentor and develop junior talent on the desk through active coaching, product education, and day-to-day partnership in trading and risk management.
• Drive idea generation in partnership with Sales & Research, translating market views into actionable client conversations and trading opportunities.
• Promote a strong risk and control culture by demonstrating accountability, escalation discipline, and leadership across business and infrastructure partners.

Responsibilities

• Act as a market maker in CMBS products, providing liquidity to clients across secondary trading markets.
• Manage and optimize trading risk across assigned CMBS books, with a strong focus on disciplined positioning, hedging, and capital usage.
• Analyze collateral, structure, relative value, and market technicals across conduit.
• Partner with ICG Sales to deliver market color, actionable trade ideas, and tailored client solutions that deepen relationships and support franchise growth.
• Support Capital Markets and syndicate efforts in the distribution of new issue CMBS transactions and provide feedback on market appetite, pricing, and investor demand.
• Maintain close coordination with Research, risk, and control partners to ensure robust governance, transparent risk ownership, and compliance with Deutsche Bank policies.

Benefits

• A diverse and inclusive environment that embraces change, innovation, and collaboration
• A hybrid working model, allowing for in-office / work from home flexibility
• Generous vacation, personal and volunteer days
• Employee Resource Groups support an inclusive workplace for everyone and promote community engagement
• Competitive compensation packages including health and wellbeing benefits, retirement savings plans, parental leave, and family building benefits
• Educational resources, matching gift, and volunteer programs

What This Job Offers

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