Director, Capital Markets - Mortgage Derivatives
About The Position
In this compelling leadership position, you will lead efforts on monitoring financial markets and initiating trades or transactions to capitalize on recognized patterns or according to a strategy. You will develop, oversee, and ensure the implementation of strategies for analyzing financial market data and determining trends or patterns, direct trade or transaction activity based on the analysis of financial market data, develop and implement strategies to transfer a portion of credit risk to private capital, and establish pricing according to the associated risk of the asset. The Director, Capital Markets – Mortgage Derivatives role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities: Lead the development and execution of mortgage derivative trading and risk management strategies in support of Capital Markets objectives. Execute trades and manage mortgage derivative positions, including monitoring performance, risk, and market opportunities. Provide expertise to shape the buy-up / buy-down pricing strategy and its connection to mortgage derivatives and broader portfolio strategy Assist in Agency CMO structuring; helping to identify and develop opportunities in Agency CMOs Analyze market conditions, rate movements, volatility, and prepayment behavior to inform trading decisions. Partner across Capital Markets, Risk, Finance, and Analytics to build and enhance mortgage derivative capabilities. Evaluate relative value opportunities and positioning. Deliver market insights and strategic recommendations to senior leadership and key stakeholders.
Requirements
- At least 8 years of experience in MBS markets, with strong experience in agency mortgage derivates specifically.
- Deep understanding of mortgage markets, rate products, and derivative-based risk management.
- Strong analytical, strategic, and execution capabilities in a capital markets environment.
- Excellent judgment and decision-making skills in fast-moving market environments.
- Strong verbal and written communication skills, including the ability to present complex market and strategy topics to senior stakeholders.
- Shows curiosity and adaptability in learning and responsibly applying new technologies, including artificial intelligence, to reimagine how we work.
Nice To Haves
- Demonstrated experience leading, mentoring, or building a team within a capital markets or trading environment.
- Experience managing mortgage derivative strategies tied to portfolio optimization, hedging, pricing, or production-related objectives.
- Agency CMO structuring experience.
- Familiarity with the agency mortgage market, mortgage-backed securities, TBA, specified pools, options, swaps, swaptions, futures, or other related rate/mortgage hedging instruments.
- Experience helping stand up, expand, or formalize a new trading capability, investment process, or market function.
- Knowledge of secondary mortgage markets and how derivative strategies support pricing, risk transfer, or capital markets execution.
- Ability to operate both strategically and tactically — setting direction while also executing transactions and managing day-to-day market activity.
Responsibilities
- Lead the development and execution of mortgage derivative trading and risk management strategies in support of Capital Markets objectives.
- Execute trades and manage mortgage derivative positions, including monitoring performance, risk, and market opportunities.
- Provide expertise to shape the buy-up / buy-down pricing strategy and its connection to mortgage derivatives and broader portfolio strategy
- Assist in Agency CMO structuring; helping to identify and develop opportunities in Agency CMOs
- Analyze market conditions, rate movements, volatility, and prepayment behavior to inform trading decisions.
- Partner across Capital Markets, Risk, Finance, and Analytics to build and enhance mortgage derivative capabilities.
- Evaluate relative value opportunities and positioning.
- Deliver market insights and strategic recommendations to senior leadership and key stakeholders.
Benefits
- Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being.
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What This Job Offers
Job Type
Full-time
Career Level
Director
