CMBS Primary Trader - Structuring & Execution

Nomura; New York (NY); On-site; USD 175,000 - 210,000; Full time

Benefits offered by this job

Sign-on bonus

Restricted stock units

Discretionary awards

401(k) eligibility

Paid time off

Job summary

Nomura in New York seeks an Associate CMBS Primary Trader in Global Markets‑SP to structure, price, and distribute new‑issue CMBS across Conduit, SASB, and CRE CLO platforms. You will build advanced cash‑flow models and coordinate with origination, underwriting, and sales teams to optimize structures.

The role requires deep quantitative modeling, strong deal mechanics, and the ability to clearly communicate complex logic to technical and non‑technical audiences in a fast‑paced setting.

Qualifications

• Advanced quantitative modeling for CMBS cash flows and deal mechanics.
• Strong understanding of CMBS capital structures and tranche interdependencies.
• Proficiency in Intex, Trepp, Excel with VBA/Python/SQL for analytics.

Responsibilities

• Lead structuring and pricing analysis for primary CMBS conduit transactions.
• Collaborate with Banking, Underwriting and Securitization teams on efficient structures.
• Build and maintain detailed bond-level cash flow models using industry tools.
• Develop and refine deal comparables and relative value frameworks across vintages and product types.
• Provide investors with detailed structural analyses and pricing rationale.
• Manage pipeline risk with risk teams, including pre-pricing and hedging.
• Monitor primary market spreads, issuance trends, and macro factors.

Skills

CMBS Conduit knowledge

Intex modeling

Bloomberg

Excel advanced

Python/SQL

Credit analysis

Communication

Collaboration

Multi-deal management

Education

Bachelor's degree in Finance/Economics/Engineering/Math

Tools

Intex

Trepp

Bloomberg

Job description

Nomura in New York seeks an Associate CMBS Primary Trader in Global Markets‑SP to structure, price, and distribute new‑issue CMBS across Conduit, SASB, and CRE CLO platforms. You will build advanced cash‑flow models and coordinate with origination, underwriting, and sales teams to optimize structures.

The role requires deep quantitative modeling, strong deal mechanics, and the ability to clearly communicate complex logic to technical and non‑technical audiences in a fast‑paced setting.