Structured Products Trader

About the role

Vanguard is seeking a Structured Products Trader to join our well-established platform within active fixed income. This role offers the opportunity to contribute directly to portfolio performance through trading, idea generation, and portfolio positioning across CLOs and broader structured credits (ABS/CMBS).

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
• Sources investment opportunities and liquidity through dealer and issuer relationships
• Provide market insights and actionable trade recommendations to the broader team

Qualifications

• 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
• Direct buy-side experience (nice to have), CFA preferred

Special Factors

• Sponsorship: Vanguard is not offering visa sponsorship for this position.

About Vanguard

Vanguard is dedicated to the long-term financial wellbeing of our clients. We lead through innovative products and services that transform lives. Our mission-driven and highly collaborative culture supports long-term client outcomes and enriches the employee experience.

Employee Testimonials

• Rajesh D.: "Vanguard's culture of niceness and collaboration inspires me every day."
• Akua A.: "The combination of IT roles and the Technology Leadership Program helped me discover my niche in cybersecurity."
• Diane T.: "Vanguard's collaborative environment and support for personal obligations make it a great place to work."
• Kelly P.: "Vanguard promotes continuous learning and rotations, allowing me to grow both personally and professionally."
• Megan M.: "Continuous learning and rotations have allowed me to grow as a technical professional and a leader."
• Rehana V.: "Vanguard's commitment to crew development and mission-driven purpose motivates and inspires us."
• Brooke G.: "Vanguard offers a supportive environment, opportunities for continuous learning, and meaningful work that aligns with my values and passions."