Senior Associate, Primary CMBS Trader

SitusAMC • New York, NY

6d

About The Position

SitusAMC is where the best and most passionate people come to transform our client’s businesses and their own careers. Whether you’re a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve. At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local – come join our team! The CMBS Primary Trader is responsible for structuring, pricing, and distributing new-issue commercial mortgage-backed securities across Conduit, SASB, and CRE CLO platforms. This role requires advanced quantitative modeling, strong understanding of deal mechanics, and the ability to bridge structuring analytics with investor and syndicate execution. The ideal candidate combines deep technical proficiency in CMBS cash flow modeling with strong organization and communication skills.

Requirements

• 2+ years of experience in CMBS or structured credit structuring, trading or syndication.
• Understanding of CMBS capital structures, cash flow waterfalls, prepayment, credit enhancement mechanics, and tranche interdependencies.
• Modeling skills in Intex, Trepp, and Bloomberg functions.
• Advanced Excel proficiency (formulas, macros, data tables); experience with VBA, Python, or SQL for custom analytics preferred.
• Strong command of loan-level analytics—DSCR, LTV, occupancy, property type concentration, and geographic diversification.
• Familiarity with risk retention structures, B-piece execution, and regulatory capital implications.
• Ability to translate complex structural details into investor-facing materials and pricing frameworks.
• Highly analytical and detail-oriented, with a rigorous approach to modeling and verification.
• Excellent verbal and written communication skills to convey structural logic and trade rationale to both technical and non-technical audiences.
• Strong collaboration skills, especially across origination, underwriting, and sales teams.
• Capable of managing multiple deals simultaneously in a fast-paced environment with tight deadlines.
• High level of professional judgment and integrity, with sensitivity to confidential transaction data.

Nice To Haves

• Bachelor’s degree in Finance, Economics, Engineering, Mathematics, or another quantitative discipline; advanced degree or CFA a plus.
• Prior experience in CMBS structuring, or banking strongly preferred.
• Established relationships with rating agencies, accounting firms and B-piece buyers advantageous.

Responsibilities

• Lead structuring and pricing analysis for primary CMBS transactions, optimizing tranche sizing, credit enhancement, and spread targets.
• Collaborate with Banking, Underwriting and Securitization teams to design efficient structures that balance investor demand, capital efficiency, and regulatory requirements.
• Build and maintain detailed bond-level cash flow models using Intex, Bloomberg, Excel, and proprietary tools.
• Develop and refine deal comparables and relative value frameworks across vintages, shelves, and product types (Conduit, SASB, CRE CLO).
• Partner with Sales and Syndicate to provide investors with detailed structural analysis, collateral summaries, and pricing rationale.
• Manage pipeline risk in conjunction with risk management, including pre-pricing and hedging strategies.
• Monitor and interpret primary market spreads, issuance trends, and macro factors affecting CMBS and broader credit markets.
• Manage pipeline risk in conjunction with Risk teams, including pre-pricing and hedging strategies.
• Monitor and interpret primary market spreads, issuance trends, and macro factors affecting CMBS and broader credit markets.

Benefits

• SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies.
• All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees