Analyst - Mortgage Backed Securities (MBS) New York, NY

About the role

The Analyst, Mortgage Backed Securities (MBS) role is designed to build foundational Agency MBS expertise across analytics and trade execution support. This early-career role supports and helps develop the firm’s Agency MBS/TBA trading business, with secondary responsibilities in trading support and market making.

Responsibilities

• Support Agency MBS/TBA trading activities, including collateral and prepayment analysis; develop Python-based analytical tools to streamline data workflows.
• Partner with institutional sales teams to address client demand for Agency MBS products; provide timely market color, liquidity insights, and product education.
• Build and maintain relationships with external counterparties, including dealer trading desks and institutional clients.
• Monitor Agency MBS and broader fixed-income market developments to identify relative value opportunities and generate trade ideas; proactively communicate recommendations to sales teams and clients.
• Prepare daily P&L reporting, reconcile trade positions with middle office, and perform performance attribution to identify key drivers of desk results.
• Execute and manage hedging strategies using TBA, U.S. Treasuries, swaps, and swaptions; maintain exposures within established risk limits and ensure all trading activity complies with regulatory requirements and internal trading policies.

Qualifications

• Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related field; master’s degree preferred.
• 0–3 years of experience in fixed income (trading, analytics, research, or risk), with interest in Agency MBS/TBA markets.
• Strong quantitative, analytical, and problem-solving skills; ability to synthesize market and collateral data into actionable insights.
• Proficiency in Python; experience building repeatable analytics and automations for data analysis and reporting.
• Familiarity with Bloomberg and/or other fixed-income analytics platforms preferred.
• Strong written and verbal communication skills, with the ability to support client-facing discussions in partnership with Sales.
• High attention to detail and sound judgment in a fast-paced trading environment; ability to manage priorities and deadlines.
• Preferred: FINRA Series 7 and 63 (or ability to obtain)