Non-Agency RMBS Trading, Director or Managing Director, Global Markets

BMO•New York, NY

8d•$275,000 - $350,000

About The Position

BMO Capital Markets is hiring a senior trader for its Securitized Credit Trading desk within Global Markets, focused on secondary trading of Non-Agency Residential Mortgage-Backed Securities (RMBS). The role is part of the broader Mortgage and Securitized Products Sales and Trading platform and provides client-focused trading solutions in the RMBS market. The position supports the firm’s origination and securitization efforts and works with its distribution team to deliver client solutions. It also serves institutional clients by providing market insight, liquidity, and execution. The position is available at the Director or Managing Director level.

Requirements

Ideally 10 or more years of relevant experience in fixed-income trading, primarily focused on non-Agency RMBS.
Demonstrated leadership and people-management experience, including the ability to lead, develop, and retain high-performing employees and teams.
Deep knowledge of mortgage credit, including collateral analysis, prepayment and default/severity modeling, servicer behavior, and deal structure.
Extensive knowledge of capital-markets activity.
Strong understanding of trading procedures and regulatory rules and guidelines.
SIE, Series 7, and Series 63 licenses required.
Proficiency in Bloomberg, Intex, Yield Book, and Excel.
Strong risk-management skills and a focus on protecting the firm’s balance sheet.
Strong quantitative, communication, and leadership skills, with a collaborative, team-first mindset.
Self-starter with creative idea generation to drive business.

Responsibilities

Manage the secondary trading effort for non-Agency RMBS, including inventory, hedging, P&L, risk limits, repo pricing, and distribution.
Facilitate client flow and provide liquidity by trading as agent and principal.
Support the firm’s origination and securitization platform by providing liquidity and secondary-market transparency for BMO-led transactions.
Work with sales staff to provide market insight, product expertise, and liquidity to clients.
Build and maintain relationships with institutional clients and expand reach to prospective clients.
Use knowledge of financial markets and macroeconomics, along with RMBS expertise, to provide market commentary and trade ideas.
Communicate with the Head of Trading and Risk Management to ensure principal risk remains within firm limits and capital is used efficiently.
Follow regulatory and firm compliance rules and guidelines.