Mortgage Servicing Right Hedging – Analyst
About The Position
As an Analyst on JPMorgan Chase’s CIO MSR Hedging Team within the Treasury and Chief Investment Office (TCIO) in New York City, you will develop knowledge of the US rates and mortgage markets while supporting the formulation and execution of hedging strategies for Chase’s Mortgage Servicing Rights (MSR). The team manages MSR risk using linear rate products—including Treasuries, interest rate swaps, and futures—as well as non-linear products such as options and board options, and mortgage products. The team works closely with Chase Home Lending Capital Markets Group to formulate and execute hedging strategies. TCIO manages firm-wide asset and liability management and develops and executes the firm’s capital, balance sheet, liquidity, and funding strategy. It also oversees a global investment securities portfolio used to earn returns on excess deposits while managing interest rate risk against the firm’s liabilities.
Requirements
- Strong quantitative and analytical skills.
- Solid grounding in fixed-income securities, including rates, mortgages, and derivatives, and the ability to build frameworks and tools to analyze them.
- Ability to comprehend complex concepts and models and willingness to investigate details to find answers.
- Self-starter able to succeed independently in a dynamic, fast-paced environment and collaboratively within a team.
- Maturity and ability to succeed in a dynamic, fast-paced, open trading-desk environment.
- At least 0 years of experience working in finance, markets, or quantitative fields.
Nice To Haves
- Understanding of interest rate or mortgage products, including options and embedded options.
- Prior sell-side markets exposure, such as trading-desk experience, trading rotations, or markets-focused internships.
- Programming skills and aptitude.
- Strong understanding of trading and markets.
Responsibilities
- Develop knowledge of the US rates and mortgage markets and identify value propositions and areas of opportunity.
- Support a senior Portfolio Manager in formulating and executing hedging strategies.
- Develop and maintain accurate analytics, modeling, and valuation frameworks for linear and options-based fixed-income instruments, including embedded and explicit options.
- Build and maintain relationships with trading counterparties.
- Collaborate with business partners across lines of business on hedging and risk-management projects.
Benefits
- Competitive total rewards package, including base salary and, for eligible roles, commission-based pay and/or discretionary incentive compensation in cash and/or forfeitable equity.
- Comprehensive health care coverage.
- On-site health and wellness centers.
- Retirement savings plan.
- Backup childcare.
- Tuition reimbursement.
- Mental health support.
- Financial coaching.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
