Full Job Description
Application Deadline:
01/30/2027
Address:
151 W 42nd Street
Job Family Group:
Capital Mrkts Sales & Service
The position is for a role as a senior trader on the Securitized Credit Trading desk within the Global Markets division, focusing on secondary trading of Non-Agency Residential Mortgage-Backed Securities (RMBS). This person will serve an important role within the firm’s broader Mortgage and Securitized Products Sales and Trading platform, delivering client focused trading solutions within the RMBS landscape. Internally, this position serves the essential functions of both supporting the Firm’s growing origination and securitization efforts, as well as working closely with its distribution force to deliver client solutions. Externally this role will interface with the Firm’s broad institutional client base by providing market insight, liquidity, and execution.
Key Responsibilities:
· Manage all aspects of the Secondary Trading effort for non-Agency RMBS including but not limited to inventory management, hedging, P&L, risk limits, repo pricing, distribution, etc.
· Facilitates client flow and provides liquidity by trading both as agent and principal.
· Supports the Firm’s growing Origination and Securitization platform by providing liquidity and transparency in the secondary market for BMO-led transactions.
· Works closely with the Firm’s sales staff in providing a high level of market insight, product, and liquidity to the client base.
· Builds and maintains strong relationships with the Firm’s broad range of institutional clients, as wells as continually working to expand its client reach with prospective clients.
· Uses broad knowledge of financial markets and macroeconomics, as well an expertise of the RMBS market to provide market commentary and effective trade ideas.
· Communicates efficiently with Head of Trading and with Risk Management to ensure principal risk is managed within firm limits and is capital efficient.
· Serves the role with an intense awareness of both regulatory and firm compliance rules and guidelines.
Qualifications:
· Ideally 10+ years of relevant experience in a Fixed Income trading role, with the majority of that focused on the non-Agency RMBS market
• Demonstrated leadership and people management experience, with proven ability to lead, develop and retain high-performing employees and teams
· Deep knowledge of mortgage credit including collateral analysis, prepayment / default / severity modeling, servicer behavior, deal structure, etc.
· Extensive knowledge of all capital markets related activity
· Acute understanding of trading procedures and broader regulatory rules and guidelines.
· SIE, Series 7, and Series 63 licenses required.
· Proficiency in Bloomberg, Intex, Yield Book, Excel.
· Strong risk management skills with an intense focus on protecting the Firm’s balance sheet.
· Strong quantitative, communication and leadership skills that can operate with a collaborative, team-first mindset.
· Self-starter with creative idea generation to drive business
The salary range for this role is $275,000 at the Director level and $350,000 USD at the Managing Director level (subject to the candidate meeting the specific skills, experience, education, and qualification requirements).
Salary:
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:
