Agency MBS Trader, VP — Market-Making & Strategy

Santander US; New York (NY); On-site; USD 225,000 - 280,000; Full time

Job summary

Santander US in New York seeks an Agency MBS Trading Vice President to lead market-making, risk management, and trade execution across Agency MBS products. You will work with Institutional Sales, Research, Structuring, Operations, Finance, Technology, Risk and Compliance to deliver liquidity, insights, and trade ideas while managing positions within risk limits.

The role requires deep mortgage market knowledge, strong quantitative skills, and the ability to make timely trading decisions in a

Qualifications

• Deep knowledge of mortgage markets.
• Strong quantitative and analytical capabilities.
• Ability to make timely trading decisions in a fast-paced, risk-controlled environment.
• Experience in Agency MBS trading and leading trading teams.

Responsibilities

• Make markets and execute transactions across Agency MBS products, including To-Be-Announced securities, specified pools, pass-through securities, and related mortgage products.
• Manage trading positions, market risk, basis risk, convexity risk, prepayment exposure, and daily profit and loss within approved limits.
• Price securities and evaluate relative-value opportunities using market data, prepayment assumptions, yield and spread analysis, option-adjusted spread analysis, and other mortgage analytics.
• Develop and execute hedging strategies using U.S. Treasury securities, futures, swaps, options, and other appropriate instruments.
• Monitor macroeconomic developments, interest-rate movements, Federal Reserve activity, housing-market trends, mortgage origination dynamics, and regulatory developments that may affect Agency MBS valuations.
• Generate actionable trade ideas and communicate market color, pricing, liquidity, and risk considerations to Institutional Sales and clients.
• Support the growth of the Agency MBS franchise by deepening client relationships, identifying revenue opportunities, and contributing to broader fixed-income strategy.
• Collaborate with Research and Sales to develop client-facing content and differentiated market perspectives.
• Maintain accurate position, risk, valuation, and profit-and-loss records and promptly investigate or elevate discrepancies.
• Ensure trading activity complies with applicable laws, regulations, firm policies, supervisory procedures, and market-conduct standards.
• Partner with Market Risk, Credit Risk, Compliance, Operations, and Finance to resolve trade, valuation, control, and reporting matters.
• Contribute to the development and enhancement of pricing tools, trading analytics, automated processes, and risk‑management infrastructure.
• Provide guidance and technical support to junior traders, analysts, and other team members.
• Demonstrate sound judgment, disciplined risk management, and a strong commitment to ethical conduct and the firm’s values.

Job description

Santander US in New York seeks an Agency MBS Trading Vice President to lead market-making, risk management, and trade execution across Agency MBS products. You will work with Institutional Sales, Research, Structuring, Operations, Finance, Technology, Risk and Compliance to deliver liquidity, insights, and trade ideas while managing positions within risk limits.

The role requires deep mortgage market knowledge, strong quantitative skills, and the ability to make timely trading decisions in a