Associate/VP Fixed Income Trader, MBS/CMO & Derivatives

Morgan Stanley; New York (NY); On-site; USD 150,000 - 250,000; Full time

Job summary

Morgan Stanley’s Fixed Income Division seeks an experienced Associate to VP for the Collateralized Mortgage Obligation (CMO) / Agency Derivatives desk. You will price and hedge, manage books, and engage with clients as a market maker in a fast-paced environment.

The role emphasizes structuring and trading CMOs, agency products, and derivatives, with close interaction across IT, sales, strats and operations. Base pay reflects market levels for Associate/VP roles in NYC.

Qualifications

• Bachelor's degree required.
• Experience structuring or trading CMOs preferred.
• Strong quantitative and interpersonal skills.
• Proactive with ability to work independently and in a team.

Responsibilities

• Price, hedge, evaluate, manage book, and engage with clients as an MBS CMO/derivatives trader and market maker.
• Assess relative value across agency specified pool, CMO and derivatives market.
• Formulate, express and execute trade ideas within rates, vol and mortgages, including treasury futures, swaps, mortgages TBAs and options.
• Interact with diverse client base to provide liquidity as a market maker and build firm relationships.
• Assist desk with PnL reporting, market color, indications and weekly commentary.
• Maintain dialogue with IT, strats, sales, trading desks, research, operations and finance.

Skills

Quantitative skills

Analytical ability

Interpersonal skills

Initiative

Team work

Education

Bachelor's degree

Job description

Morgan Stanley’s Fixed Income Division seeks an experienced Associate to VP for the Collateralized Mortgage Obligation (CMO) / Agency Derivatives desk. You will price and hedge, manage books, and engage with clients as a market maker in a fast-paced environment.

The role emphasizes structuring and trading CMOs, agency products, and derivatives, with close interaction across IT, sales, strats and operations. Base pay reflects market levels for Associate/VP roles in NYC.