Non-Agency RMBS Trading - Director or Managing Director, Global Markets

01/30/2027

Address:

151 W 42nd Street

Job Family Group:

Capital Mrkts Sales & Service

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

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: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.