Agency MBS Trader - VP

Citi; New York (NY); On-site; USD 175,000 - 250,000; Full time

Benefits offered by this job

Medical, dental & vision coverage

401(k) plan

Wellness programs

Paid time off

Job summary

Citi in New York is seeking an experienced Agency MBS trader to manage risk and execute trading strategies. You will generate trade ideas by analyzing mortgage markets and prepayment dynamics and work with Sales to deliver liquidity and client solutions.

You will collaborate with Research, Quantitative Analytics, and Technology teams to enhance trading and risk management capabilities while driving desk efficiency through automation and ensuring compliance with risk limits and regulatory

Qualifications

• 4+ years of experience in Agency MBS trading, strategy, or portfolio management.
• Experience trading or analyzing TBAs, Specified Pool, CMO, and/or mortgage derivatives.
• Strong understanding of Agency MBS, fixed income markets, interest rates, and options.
• Demonstrated ability to generate actionable trade ideas and manage risk effectively.
• Bachelor's degree is required.

Responsibilities

• Manage Agency MBS risk positions and execute trading strategies.
• Generate trade ideas through analysis of mortgage markets and prepayment dynamics.
• Partner with Sales to provide market liquidity, market insights, and client solutions.
• Collaborate with Research, Quantitative Analytics, and Technology teams to enhance trading and risk management capabilities.
• Drive process improvements and automation initiatives to improve desk efficiency.
• Ensure compliance with internal risk limits, controls, and regulatory requirements.

Skills

Agency MBS trading

TBAs / Specified Pool / CMO analysis

Fixed income markets

Risk management

Python/SQL

Communication

Education

Bachelor's degree

Tools

Python

SQL

Job description

Job Overview: The Agency Mortgage Trading business is part of the Spread Products Sales & Trading Division. The successful candidate will support the day-to-day activities of the trading desk, including market making, risk management, relative value analysis, client engagement, and collaboration with Sales, Research, Quantitative Analytics, Technology, and Risk & Control partners. The role requires strong market judgment, analytical capabilities, and leadership skills, with a focus on driving performance, enhancing risk management, and improving trading processes

This position is based in New York and requires occasional travel.

Responsibilities:

• Manage Agency MBS risk positions and execute trading strategies.
• Generate trade ideas through analysis of mortgage markets and prepayment dynamics.
• Partner with Sales to provide market liquidity, market insights, and client solutions.
• Collaborate with Research, Quantitative Analytics, and Technology teams to enhance trading and risk management capabilities.
• Drive process improvements and automation initiatives to improve desk efficiency.
• Ensure compliance with internal risk limits, controls, and regulatory requirements.

Qualifications:

• 4+ years of experience in Agency MBS trading, strategy, or portfolio management.
• Extensive experience trading or analyzing TBAs, Specified Pool, CMO, and/or mortgage derivatives.
• Strong understanding of Agency MBS, fixed income markets, interest rates, and options.
• Demonstrated ability to generate actionable trade ideas and manage risk effectively.
• Strong analytical and quantitative skills; proficiency in Python, SQL, or similar tools preferred.
• Excellent communication, collaboration, and decision-making skills.
• Bachelor\'s degree required.

Education:

Bachelor’s degree/University degree or equivalent experience

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Job Family Group:

Institutional Trading

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Job Family:

Trading

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Time Type:

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Primary Location:

New York New York United States

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Primary Location Full Time Salary Range:

$175,000.00 - $250,000.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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Anticipated Posting Close Date:

Jul 31, 2026

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Automated Processing and AI

We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate\'s skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.

Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.

Illinois residents – AI Notice and Right

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi. View Citi’s EEO Policy Statement and the Know Your Rights poster.