MBS Allocator, Fixed Income Middle Office
About The Position
The MBS Allocator contributes to the overall success of the Fixed Income Middle Office in New York and globally by executing individual goals, plans, and initiatives in support of the team’s business strategies and objectives. The role ensures activities comply with applicable regulations and internal policies and procedures. The position allocates Agency MBS trades and supports trade processing, matching, reconciliation, and settlement across mortgage-backed securities and other fixed-income products. It works with trading and sales teams, external clients, and back-office partners to resolve allocation and trade discrepancies and promote timely settlement.
Requirements
- Bachelor’s degree.
- At least 2–3 years of MBS TBA allocations and specified-pool experience.
- Excellent communication and interpersonal skills, including strong written communication.
- FINRA NASD S99 license or ability to obtain it.
- Proficiency in MBSE (MBS Expert) and Broadridge Impact.
Responsibilities
- Allocate Agency MBS trades across GNMA, FNMA, and FHLMC 15-year and 30-year coupons.
- Allocate specified TBA trades and ensure pools meet good-delivery guidelines.
- Process pool changes and high-volume EPN notifications on 48-hour days.
- Apply knowledge of Class A, B, and C netting and the pool allocation processing cycle.
- Process hybrid ARM TBA activity.
- Process Assignments of Trades (AOTs) and TBA pair-offs.
- Process new-issue RMBS and CMBS trades and secondary trading client sub-account allocations.
- Facilitate RTTM trade matching, netting, and reporting to FINRA TRACE.
- Assist the Fixed Income Middle Office team with trade input and capture for Rates, Repo, Corporates, Lat-Am, DCM New Issue Syndicate, CLO, and ABS securities.
- Submit Treasury bids to the Federal Reserve TAAPS system according to Trading Desk instructions and communicate results.
- Distribute fail reports, ensure front-office sales and trading teams are aware of fail positions, and follow up on aged items to promote settlement.
- Coordinate with external clients to obtain allocations for block transactions and submit allocated trades into front-end risk-capture systems.
- Perform front-office-to-back-office system (FOBO) reconciliations to ensure all entered trades flow to the back-office system.
- Facilitate timely trade settlement by resolving allocation, trade-detail, and instruction discrepancies with clients.
Benefits
- Flexible benefit programs designed to support family, financial, physical, mental, and social health needs.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
