Structured Products Trader

Vanguard•Malvern, PA

1d•Hybrid

About The Position

This is an exciting opportunity to join Vanguard’s Structured Products team, a well-established platform within active fixed income with a growing investment footprint. This role offers the ability to contribute directly to portfolio performance through trading, idea generation, and portfolio positioning across CLOs and broader structured credits (ABS/CMBS). The ideal candidate combines strong market knowledge with structured product expertise and the ability to translate analytics into actionable investment decisions.

Requirements

5 years of relevant experience, with a strong focus on CLOs and/or structured credit trading or investing
Demonstrated ability to generate ideas and contribute to performance through trading and positioning
Strong understanding of CLO structures and broader structured credit markets (ABS/CMBS)
Cash flow modeling (Intex or similar) and analytical skillset
Established dealer and issuer relationships preferred
Programming/data skills a plus
Strong communication and collaboration skills

Nice To Haves

Direct buy-side experience
CFA preferred

Responsibilities

Execute trades across CLOs and structured credit in primary and secondary markets, with a focus on best execution
Generate trade ideas and identify relative value opportunities across structures, managers, and vintages
Contribute to portfolio construction and positioning
Analyze structures and cash flows to evaluate risk and return across investments
Partner with research on collateral, structure, and market dynamics
Source investment opportunities and liquidity through dealer and issuer relationships
Provide market insights and actionable trade recommendations to the broader team