Disciplined Alpha - Mortgage Trader

Loomis Sayles • Orinda, CA

13d • $150,000 - $200,000 • Hybrid

About The Position

The Mortgage Trader will support Loomis Sayles’ goal of delivering superior risk-adjusted returns by identifying and pursuing relative value opportunities in the U.S. RMBS universe. The position is part of the growing Disciplined Alpha product platform, which manages more than $27 billion in fixed-income assets for institutional clients. The Mortgage Trader will partner with a Portfolio Manager on Agency MBS trading and management and contribute to investment decisions, portfolio construction, and risk management. The role is hybrid, with two work-from-home days and three office days per week.

Requirements

• Bachelor’s degree.
• Deep knowledge of Agency MBS market structure and strong understanding of the primary drivers and risk factors affecting mortgage cash flows and valuations.
• Familiarity with software programs and analytics used in mortgages, and comfort learning and using proprietary programs and models.
• Ability to work effectively with portfolio managers on strategy and trade execution.
• Excellent written and oral communication skills, including the ability to negotiate effectively.
• Experience and comfort with electronic trading tools.
• Understanding of the regulatory framework for trading and client guidelines.
• Strong analytical and organizational skills.
• Ability to work well in a team environment.

Nice To Haves

• CFA or MBA.
• Prior Non-agency MBS market experience through trading or research.
• Several years of sell-side trading experience in Agency MBS specified pools, TBAs, and CMOs is highly valued.

Responsibilities

• Partner with the Portfolio Manager in trading and managing Agency MBS specified pools, TBAs, and CMOs, and contribute to broader portfolio management and investment decision-making.
• Evaluate the Agency MBS universe, prepayment dynamics, and market drivers to identify relative value opportunities and generate investment ideas across the MBS market.
• Assess and communicate market sentiment, liquidity conditions, trading flows, and volatility trends that influence portfolio positioning and risk-taking decisions.
• Engage and collaborate with the Loomis Sayles Mortgage & Structured Finance group.
• Cultivate and maintain broker-dealer relationships to source market intelligence, trading opportunities, and research insights, and translate market developments into actionable investment recommendations.
• Drive relative value analysis and risk assessment as a member of the Disciplined Alpha Team, contributing to investment selection, portfolio construction, and risk management decisions.
• Represent the team through regular travel to Boston, meetings with broker-dealers in New York, and participation in industry conferences.

Benefits

• Medical, dental, and supplemental health plans.
• Retirement savings.
• Paid time off.
• Company-provided leave benefits.
• Life and disability insurance.
• Work/life and wellness resources.
• Locally relevant perks and programs.
• Discretionary annual incentive award based on individual and company performance.
• Comprehensive benefits package supporting health, well-being, and financial security.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level