Business Overview:
The agency mortgage desk within G10 rates is looking for a CMO trader/structurer. The role is for a Vice President/Director level. The agency MBS desk trades bonds and structured products backed by the GSEs (Fannie Mae, Freddie Mac) and Ginnie Mae.
Candidate Success Factors:
Candidates are measured on the following four performance drivers, which will dictate how individual impact is considered on the Americas platform:
- Results and Impact
- Able to influence peers and team.
- Demonstrates good judgement when making decisions of high complexity and impact.
- Exercise appropriate autonomy in the execution and delivery of work.
- Responsible for driving outcomes, which have meaningful effect on team or department.
- Leadership and Collaboration:
- Creates trust with colleagues.
- Acts in leadership capacity for projects, processes, or programs.
- Client, Customer and Stakeholder Focus:
- Able to build relationships with a mix of colleagues and clients.
- Interacts regularly with management and department leaders.
- Demonstrates the ability to influence stakeholders at the team level.
- Compliance Culture and Conduct:
- Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts.
- Perceived as a person of high moral character; upholds corporate values and displays high ethical standards.
Responsibilities:
The role will be in trading and will focus on market making and risk management of fixed rate CMOs and associated collateral book. Role will focus as well on structuring new issue cmo responsibilities. Examples of responsibilities include but are not limited to:
• Working with current team to provide clients liquidity across all secondary CMO markets (including Fixed Rates, Floaters and Inverse Floaters and any other exotic CMO security such as Supports and PACs and Last Cash Flows)
• Focusing on maximizing opportunities within new issue CMO creation. Working with the rest of team on evaluating different new issue structures off a variety of collateral to satisfy client needs and inquiries.
• Working closely with the Spec desk on evaluating different spec stories and coupons to optimize execution based on client inquiries
• Evaluating hedging different hedging strategies for the books based on rates and basis performance
• Interacting with BNP sales and clients in order to understand clients investment objectives and needs. Working on sourcing or creating securities that satisfy those criteria.
• Attending relevant regulatory and product/skill training and keeping up to date with market issues
• Contributing to and facilitating interactions with trading middle office, confirming daily P&L at the close of the day
• Maintaining open communication with team and direct line management to resolve risk and P&L discrepancies and fulfil notification requirement.
Minimum Required Qualifications:
- Bachelor’s Degree in Finance or a related / STEM field
- 1-4+ years’ previous work experience, ideally in a trading capacity
- Existing client relationships a plus
- Direct experience in Mortgages required
- Capital markets knowledge
Preferred Qualifications:
Analytical mindset with attention to detail; strong interpersonal skills; proactive; demonstrates high standards of ethics and integrity; ability to work well under pressure; strong communication skills, including capacity to present trade ideas to internal and external clients
FINRA Registrations Required:
- Series 7, 63
CFTC Swap Dealer Associated Person (if yes, NFA Swaps Proficiency Program is required):
- Not Applicable
SEC Security-Based Swap Dealer Associated Person:
- Not Applicable
The expected starting salary range for this position is between $100,000 to $110,000 annually. The actual salary may vary based upon several factors including, but not limited to, relevant skills/experience, time in role, base salary of internal peers, prior performance, business line, and geographic/office location.
In addition, our comprehensive benefits package aims to support our employees in various aspects of their lives. From healthcare and wellness programs to retirement plans and childcare services, we prioritize the well-being and growth of our employees. Our benefits include medical, dental and vision coverage, a 401(k) Savings Plan, backup childcare, life, accident and disability insurance, mental health support and paid time off. Additional details about our benefits offerings, inclusive of eligibility for a discretionary bonus, will be provided during the hiring process.
This application will remain open until a candidate has been selected for the role. There is no specific application timeline.
About BNP Paribas:
BNP Paribas is a leading bank in Europe with an international reach across the US, EMEA and APAC. It has a presence in 65 countries, with nearly 190,000 employees. The bank employs over 3,500 people in offices in the US across 10 states including New York, Jersey City, Chesterbrook, PA, San Francisco, Boston, Chicago, Denver, Miami, and Washington, DC. BNP Paribas has built a strong and diversified presence to support its client base. We continue to grow and strengthen our commitment to the US market through our Corporate & Institutional Banking activities. We are one of a few non-US banks to offer a full value chain for our clients, from trading to financing, and clearing and custody in the US with the international footprint and capacity to deliver both globally and locally. Leveraging the strength of our European roots, our network can support clients in virtually every region of the world, enabling more connectivity and efficiency wherever our clients conduct business. We take pride in our expertise and our ability to adapt while constantly looking ahead to create a more sustainable world.
As an international company with a global footprint, the unique cultures and viewpoints of our team members are an integral part of the fabric of BNP Paribas. We are a company with a purpose – to be a responsible and sustainable global leader. We aim to create an environment where our employees feel empowered to drive change, make an impact and be true to themselves. We employ talented individuals from a wide variety of backgrounds, locally and globally, and are inspired by our employees who help us in cultivating a diverse, equitable and inclusive workplace through initiatives such as our Diversity, Equity & Inclusion (DEI) Leadership Forum and Employee Resource Group (ERG) communities. We strive to be a workplace where all team members can grow and thrive and offer robust training, development, and mentoring opportunities to make that vision a reality. Our leaders are deeply committed to DEI and highly accessible to our employees, consistently soliciting feedback on how we can continue to support our employees to reach their highest potential.
BNP Paribas. The Bank for a Changing World – https://usa.bnpparibas/en/homepage/join-us/our-opportunities/
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.