Agency CMBS Front-Office Associate, Trading & Markets

Santander Consumer USA Inc.; New York (NY); On-site; USD 175,000 - 225,000; Full time

Job summary

Santander Consumer USA Inc. in New York is seeking an Agency CMBS Associate to support trading, risk management, and client activities on the Agency CMBS desk. You will work with senior traders and sales to price and execute transactions, analyze relative value, monitor risk, and provide market color.

The role requires strong quantitative skills and collaboration across departments. This front-office position emphasizes building models, dashboards, and workflows in Excel, with opportunities to

Qualifications

• Bachelor’s degree or equivalent demonstrated through work experience, training, or education.
• 2+ years of Sales & Trading experience; Agency CMBS or securitized-products preferred.
• Strong quantitative and qualitative skills; able to perform under pressure.
• Proficient with MS Word and Excel; modeling skills preferred.

Responsibilities

• Supports trading and market-making in Agency CMBS and related securitized products in primary and secondary markets.
• Prices securities and responds to client inquiries; supports trade execution within limits.
• Develops relative-value views using spread, cash-flow, collateral, prepayment, extension and liquidity data.
• Analyzes Agency CMBS structures, collateral, and cash flows across multifamily and CMBS programs.
• Monitors positions, inventory, P&L, market risk, liquidity, and hedge effectiveness.
• Assists in hedging strategy development and execution using rates and spreads.
• Partners with Sales to provide market color, portfolio analysis, and client ideas.
• Tracks new issuance, investor demand, dealer positioning, and rates market trends.
• Maintains marks, trade bookings, and resolves breaks and settlement issues.
• Builds analytics models, dashboards, and workflows in Excel and other tools.

Skills

Sales & Trading

Quantitative skills

Qualitative skills

MS Office (Word, Excel)

Modeling skills

Team collaboration

Communication skills

Organization

Project management

Agency CMBS / securitized products

Capital markets knowledge

Education

Bachelor’s Degree in Finance, Economics, Mathematics, Engineering, Computer Science, or related field

Tools

Bloomberg

Intex

Yield Book

Python

SQL

VBA

Job description

Santander Consumer USA Inc. in New York is seeking an Agency CMBS Associate to support trading, risk management, and client activities on the Agency CMBS desk. You will work with senior traders and sales to price and execute transactions, analyze relative value, monitor risk, and provide market color.

The role requires strong quantitative skills and collaboration across departments. This front-office position emphasizes building models, dashboards, and workflows in Excel, with opportunities to