Trader / Senior Trader, Fixed Income

About the role

Norges Bank Investment Management is looking for a trader to join our North America Fixed Income team, part of the Market Strategies Investment Area. The Fixed Income department manages the fund's broad fixed income portfolios, currently valued at around USD 400 billion, with more than half invested in North America. Your primary mandate will be agency mortgage-backed securities, with backup coverage of the wider portfolio, Treasuries, inflation-linked bonds, government-related issuers and derivatives. This is an autonomous trading role: you will make independent investment decisions with direct accountability for your own risk programs, in a fully integrated team of portfolio managers and traders. This is a build, not a backfill. We are establishing MBS capability and the person in this seat will get the unusual chance to help us shape it. The position is based in New York and reports to the Head of Fixed Income North America. Some travel will be required.

Responsibilities

• Act as our specialist in agency mortgage-backed securities, TBAs, specified pools and dollar rolls, with responsibility for execution quality and positioning
• Run your own investment mandate, with direct accountability for your P&L and risk
• Build out our agency MBS platform
• Provide coverage of the wider US book, Treasuries, inflation-linked bonds, government-related issuers and derivatives
• Manage trading programs around inflows, outflows, index changes and allocation shifts
• Work closely with the investment team, developing ideas and contributing market intelligence
• Manage relationships with street sales, trading and syndicate contacts across the US market
• Collaborate with the wider department across Oslo, London and Singapore
• Apply new technology and automation to improve execution, investment analysis and workflow efficiency

Qualifications

• Proven experience trading agency MBS, with a thorough understanding of the product and its market structure
• A degree in finance, economics or a quantitative field is welcome, but for experienced candidates can be substituted with relevant verifiable track record
• Strong familiarity with the portfolio and trading systems used in agency MBS
• Experience building or improving trading infrastructure will be weighted
• Working knowledge of the wider US rates complex
• Comfort with taking and managing risk with a rigorous approach to risk management
• Strong quantitative skills and attention to detail, with the ability to operate effectively
• Fluency in written and spoken English, with strong collaboration and communication skills
• Must be eligible to work in New York, and committed to working from there
• High personal integrity, and successful completion of the mandatory security clearance required for employment at Norges Bank (the Central Bank of Norway)