Associate – Spread Products Market Risk, Fixed Income & Credit

Madison-Davis, LLC; New York (NY); Hybrid; USD 95,000 - 115,000; Full time

Job summary

Madison-Davis, LLC in New York, NY is seeking an Associate in Spread Products Market Risk within the Fixed Income & Credit teams. You will own day-to-day market risk monitoring, limit compliance, and reporting for Agency and Non-Agency securitized products, corporate credit, and municipal offerings.

This hybrid role targets an early-to-mid career professional with 2–5 years of experience, strong quantitative skills, and the ability to explain risk changes to management, regulators, and auditors

Qualifications

• 2–5 years of market risk experience.
• Strong quantitative and analytical skills.
• Ability to explain complex risk changes clearly.

Responsibilities

• Monitor, analyze, and report on market risk limits daily to ensure framework compliance.
• Maintain controls around risk exposures per policies and trading mandates.
• Coordinate with traders across Agency MBS/TBAs/CMOs, Non-Agency Securitized Products, Corporate Credit, and Municipal Products to ensure limit compliance.
• Explain changes in risk including VaR, risk sensitivities, and stress testing to senior management, regulators, and auditors.
• Produce market commentaries and analysis of portfolio changes for senior management and regulatory reporting.
• Work on risk systems and reporting improvements; explore AI tools to enhance analytical efficiency and reporting quality.

Job description

Title: Associate – Spread Products Market Risk, Fixed Income & Credit

Office Status: Hybrid – New York, NY

Base Salary: $95k – $115k + Bonus

Overview:

This Associate-level opportunity sits within the Spread Products Market Risk function of a well-established global financial institution, offering day-to-day ownership of market risk monitoring, limit compliance, and reporting across a diverse set of fixed income and credit trading desks. The role covers Agency and Non-Agency Securitized Products, Corporate Credit, and Municipal Products — providing meaningful exposure to a broad range of spread products and the ability to develop deep market risk expertise in a fast-paced trading desk environment. It's an ideal fit for an early-to-mid career market risk professional with 2–5 years of experience who combines strong quantitative and analytical skills with the ability to explain complex risk changes clearly and work effectively under time pressure.

Key Responsibilities:

• Monitor, analyze, and report on market risk limits for covered trading desks on a daily basis to ensure compliance with the overall risk framework
• Maintain strong controls around risk exposures in compliance with business policies, procedures, methodologies, and trading mandates
• Work closely with traders covering Agency MBS/TBAs/CMOs and Non-Agency Securitized Products (ABS, CLO, RMBS, CMBS), Corporate Credit (IG/HY/EM Bonds, Leveraged Loans, CDS/CDX), and Municipal Products to ensure limit compliance and risk appetite alignment
• Understand and explain changes in risk including VaR, risk sensitivities, and stress testing results to senior management, regulators, and auditors
• Produce market commentaries and analysis of portfolio changes for senior management and regulatory reporting
• Work on projects to ensure market risk systems and risk reporting improvements; leverage AI tools to enhance analytical efficiency and reporting quality