CMO Structurer - Trader I

BOK Financial•Greenwich, CT

8d•Onsite

About The Position

The CMO Structurer - Trader I is responsible for supporting and developing the firm's Agency Collateralized Mortgage Obligation (CMO) new-issue structuring program, with secondary responsibilities in trading and market making alongside the Head of the CMO desk. This is a developmental, early-career position designed to build foundational CMO expertise across structuring and analytics, trading execution support, and sales and client dynamics, with the objective of supporting long-term talent development within the CMO business. This individual contributor role does not manage other employees and reports to the Head of Taxable Fixed Income Trading.

Requirements

Bachelor's Degree in Finance, Economics, or a related field of study.
1+ years of related experience trading or structuring mortgage-backed securities (MBS) in a buy-side or sell-side environment, or an equivalent combination of education and experience.
Experience preparing daily P&L, risk metrics, and reconciliations in a fixed-income trading environment.
Securities Industry Essentials (SIE) Exam, FINRA Series 7, and Series 63 licenses, or the ability to obtain within 3–6 months after hire.

Nice To Haves

MBA or other relevant advanced degree, or a CFA designation, is preferred as evidence of strong analytical background and commitment to professional development.

Responsibilities

Assist in the creation and structuring of new-issue Agency CMOs based on client demand.
Source appropriate MBS collateral pools in coordination with the Structured Products Group and the Head of the CMO desk.
Prepare monthly reviews and performance reports on all issuance activity to track program growth and inform desk strategy.
Serve as a market maker for Agency CMOs under the guidance of the desk head, providing liquidity and best execution for client orders in the secondary market.
Execute buy and sell transactions in line with the firm's risk appetite, ensuring pricing is competitive and responsive to client needs.
Work closely with institutional and retail sales teams across the organization to understand and address client demand for CMO products.
Provide timely market color, liquidity insights, and product education to sales colleagues, and coordinate with sales on client needs to deliver best-in-class structured solutions.
Contribute to cross-functional collaboration between trading, structuring, and sales to ensure well-priced product is built on client inquiries.
Develop and maintain productive working relationships with external counterparties, including dealer trading desks and institutional clients.
Coordinate with these partners to source collateral, share secondary market liquidity, and expand the distribution network for the firm's CMO offerings.
Continuously monitor Agency MBS and related fixed-income market developments to identify relative value opportunities and generate trade ideas.
Proactively communicate structuring strategies and opportunistic trade ideas to sales teams and clients, contributing to the desk's proactive idea flow and overall franchise value.
Prepare daily P&L reports, reconcile trade positions, and perform performance attribution to understand drivers of desk profitability.
Execute and manage hedging strategies for the CMO pipeline and inventory and maintain trading book exposures within established risk parameters in coordination with the Head of the CMO desk.
Ensure all trading and structuring activities comply with regulatory requirements and the firm's internal trading policies.