Royal Bank of Canada

Trader, Mortgage Investment Group

Royal Bank of Canada$100K — $120K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree required
  • 5+ years in fixed income trading with a focus on derivatives
  • Strong understanding of mortgage-specific risk factors
  • Proven ability to identify trading opportunities and manage diverse portfolios
  • Advanced analytical skills with financial modeling proficiency
  • Excellent communication skills for presenting complex ideas
  • Detail-oriented with a strong work ethic

Responsibilities

  • Manage risks in large mortgage portfolios including interest rate and prepayment risks
  • Set mortgage rates based on market dynamics
  • Price portfolios and mortgage-backed securities
  • Conduct relative value analysis across mortgage and fixed income products
  • Generate innovative trade ideas based on market trends
  • Design mortgage financing strategies for clients and portfolio optimization
  • Collaborate with internal teams to enhance client solutions

Benefits

  • Comprehensive Total Rewards Program including bonuses
  • Support for professional development and coaching from leadership
  • Dynamic and collaborative team environment
  • Opportunities for challenging work
  • Flexible work/life balance options
Full Job Description
Job Description

What is the opportunity?

We are seeking an experienced trader to join our Mortgage Aggregator. This is a mid-to-senior level role focused on actively managing a portfolio of residential mortgages and identifying relative value opportunities and asymmetric returns within the Canadian mortgage market. The incumbent will further contribute to revenue growth through innovative structured solutions and client engagement.

What will you do?

Trading & Portfolio Management
  • Actively manage key risks associated with large mortgage portfolios, including interest rate, prepayment and funding
  • Contribute to setting mortgage rates based on available funding sources and underlying market dynamics
  • Price large mortgage portfolios and MBS offerings
  • Monitor positions and portfolio returns, providing senior management with regular reporting on positioning, risk metrics, and financial performance


Market Analysis & Strategy
  • Conduct comprehensive relative value analytics across mortgage products, bonds, repo, money market products, and mortgage-backed securities, identifying trade opportunities
  • Develop and articulate well-reasoned market perspectives and formulate opinions on mortgage market direction, macro trends, and implied valuations
  • Generate innovative trade ideas and seek out return opportunities across fixed income products
  • Present actionable insights and recommendations to senior management


Structuring & Client Solutions
  • Assist in the design and structuring of mortgage financing strategies tailored to both desk portfolio optimization and client needs
  • Partner with sales and client-facing teams to develop solutions that address client mandates while contributing to desk profitability
  • Support new product development and innovation
  • Collaborate with internal partners to strengthen client relationships
  • Enhance desk visibility and reputation as a partner of choice in the mortgage aggregation space


Risk Management & Governance
  • Proactively identify operational risks and control deficiencies in the business
  • Review and comply with Firm Policies and Risk Limits applicable to the business line
  • Escalate operational risk loss events, control shortages, and risk breaches to your line manager and relevant risk and control functions on a timely basis


Platform Enhancement
  • In conjunction with QTS, expand desk's analytical and modelling tools to support ALM, trading and client solutions
  • Contribute to strengthening the platform through continuous improvement of processes and analytics


What do you need to succeed?

Required Qualifications
  • Minimum Bachelor's degree
  • Minimum 5 years of experience in fixed income trading, with substantial background in derivatives, particularly interest rate swaps and swaptions, and their application to mortgage trading and hedging
  • Advanced knowledge of mortgage-specific risk factors, including prepayment risk, extension risk, and basis risk
  • Proven track record identifying trading opportunities, generating innovative trade ideas and managing multi-faceted portfolios
  • Strong analytical and problem-solving skills with proficiency in financial modeling and analytics tools
  • Excellent communication skills with ability to present complex ideas clearly and concisely, deliver key messages effectively and negotiate constructively
  • Excellent work ethic and attention to detail
  • Ability to perform effectively under periods of pressure
  • Collaborative mindset and team-first attitude


Preferred Qualifications
  • Demonstrated proficiency in managing interest rate risk and convexity within mortgage portfolios
  • Functional knowledge of mortgage securitization
  • Knowledge of Canadian mortgage market structure, regulation, and market participants
  • CFA designation and/or Master's degree
  • Strong understanding of regulatory landscape (Basel III) and IFRS 9 accounting principles


What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
  • A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
  • Leaders who support your development through coaching and managing opportunities
  • Work in a dynamic, collaborative, progressive, and high-performing team
  • Opportunities to do challenging work
  • Flexible work/life balance options


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Job Skills

Additional Job Details

Address:

ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

CAPITAL MARKETS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-08-31

Application Deadline:

2026-09-14
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

About Royal Bank of Canada

Royal Bank of Canada Careers

Join the dynamic team at Royal Bank of Canada (RBC), a global leader in financial services and a company committed to excellence and innovation. At RBC, we offer a wide range of job opportunities that empower professionals to shape their career paths with leadership, diversity training, and continuous growth.

Work You’ll Do

At Royal Bank of Canada, we are not just hiring; we are building a culture of innovation and leadership. Our team members are at the forefront of the financial industry, driving transformation and delivering targeted solutions that meet the evolving needs of our clients and communities.

Explore Job Opportunities and Employment at RBC

Whether you are starting your career or looking to take it to the next level, RBC offers positions that challenge your skills and fuel your ambition. From entry-level positions to leadership roles, our job opportunities span across various functions and regions. Join us and be part of a team that values professional growth and diversity.

Internship and Professional Development

Kickstart your career with an internship at Royal Bank of Canada. Our internships provide invaluable hands-on experience, networking opportunities, and insights into the financial services industry. Interns at RBC gain the skills necessary to excel and are often considered for full-time positions within the company.

Benefits and Culture

At RBC, we prioritize the well-being and satisfaction of our employees. Our benefits package is designed to support our team members at every stage of their life and career. RBC’s culture is built on a foundation of respect, integrity, and responsibility, fostering an environment where everyone can thrive.

Career Growth and Innovation

We believe in nurturing the potential of our employees through continuous learning and career development programs. At RBC, you will find endless opportunities to grow professionally through on-the-job experiences, formal training programs, and leadership development initiatives. Our commitment to innovation means we are constantly seeking out new ideas and perspectives, making RBC a perfect place for those who aim to lead and innovate.

Diversity and Inclusion

Diversity is our strength. At Royal Bank of Canada, we are committed to building an inclusive workplace where every employee feels valued and respected. Our diversity training programs are designed to educate and inspire, creating a more inclusive and equitable workplace.

Join Our Team

Search open positions that match your skills and interests. We look for passionate, curious, creative, and solution-driven team players. Start your journey with RBC today and be part of a world-class team known for its commitment to client service, community involvement, and innovation.

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Learn more about Royal Bank of Canada
Size
86,007 employees
Market Cap
$130.3 billion
Industry
5 Year Trend
+8.7%
NASDAQ

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