CMO Structurer - Trader I

BOK Financial Corporation; Denver (CO); On-site; USD 80,000 - 100,000; Full time

Job summary

BOK Financial Corporation is seeking an early-career CMO Structurer - Trader to support and develop the firm's Agency CMO new-issue structuring program, with trading and market-making responsibilities under the Head of the CMO desk. This developmental role aims to build foundational CMO expertise across structuring, analytics, and sales collaboration.

The role reports to the Head of Taxable Fixed Income Trading and emphasizes team collaboration, client interaction, and continuous learning within

Qualifications

• Bachelor's Degree in Finance, Economics or related field and 1+ years of related experience trading or structuring mortgage-backed securities.
• MBA or CFA preferred as evidence of strong analytical background.
• Experience preparing daily P&L, risk metrics, and reconciliations in fixed-income trading.
• Securities Industry Essentials (SIE) Exam, FINRA Series 7, and Series 63 licenses, or ability to obtain within 3–6 months after hire.

Responsibilities

• Assist in creating and structuring new-issue Agency CMOs based on client demand.
• Serve as a market maker for Agency CMOs, providing liquidity and best execution for client orders.
• Work closely with institutional and retail sales teams to address client demand for CMO products.
• Develop and maintain relationships with external counterparties to source collateral and expand distribution.
• Monitor Agency MBS and fixed-income market developments to identify relative value opportunities and generate trade ideas.
• Prepare daily P&L, reconcile trades, and manage hedging strategies within risk parameters.

Skills

Trading

CMO structuring

Market making

Client relations

Liquidity management

Education

Bachelor's degree in Finance/Economics

MBA

CFA designation preferred

Job description

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Areas of Interest: Trading

Pay Transparency Salary Range: $80,000 - $100,000

Application Deadline: 09/25/2026

BOK Financial Corporation Group includes BOKF, NA; BOK Financial Securities, Inc. and BOK Financial Private Wealth, Inc. BOKF, NA operates TransFund and Cavanal Hill Investment Management, Inc. BOKF, NA operates banking divisions: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas and BOK Financial®.

Bonus Type

Formula Based

Summary

If you are interested in a career as a Trader with an industry-leading provider of sophisticated financial solutions, you've come to the right place. Our commitment to you is a positive work environment, a deep connection to our communities, and a focus on putting our clients first. We believe no challenge is too big and no opportunity is too small when we work together to build relationships.

Job Description

The CMO Structurer - Trader I is responsible for supporting and developing the firm's Agency Collateralized Mortgage Obligation (CMO) new-issue structuring program, with secondary responsibilities in trading and market making alongside the Head of the CMO desk. This is a developmental, early-career position designed to build foundational CMO expertise across structuring and analytics, trading execution support, and sales and client dynamics, with the objective of supporting long-term talent development within the CMO business. This individual contributor role does not manage other employees and reports to the Head of Taxable Fixed Income Trading.

Team Culture

The trading team works together by discussing market conditions, knowing what yields and spreads are in our products vs other products, knowing what the sales people are actively selling in the market, and knowing the maturity range of the products. Internal communication and partnership, which extend to all trading offices across our footprint, are key to understanding sales and performance. Our camaraderie, shared decision making, and mutual respect for one another are what keep us ticking. All team members have a stake in the game and are encouraged to share their ideas and collaborate often.

How You'll Spend Your Time

• You’ll assist in the creation and structuring of new-issue Agency CMOs based on client demand. Source appropriate MBS collateral pools in coordination with the Structured Products Group and the Head of the CMO desk. Prepare monthly reviews and performance reports on all issuance activity to track program growth and inform desk strategy.
• You’ll s erve as a market maker for Agency CMOs under the guidance of the desk head, providing liquidity and best execution for client orders in the secondary market. Execute buy and sell transactions in line with the firm's risk appetite, ensuring pricing is competitive and responsive to client needs.
• You’ll w ork closely with institutional and retail sales teams across the organization to understand and address client demand for CMO products. Provide timely market color, liquidity insights, and product education to sales colleagues, and coordinate with sales on client needs to deliver best-in-class structured solutions. Contribute to cross-functional collaboration between trading, structuring, and sales to ensure well‑priced product is built on client inquiries.
• You'll d evelop and maintain productive working relationships with external counterparties, including dealer trading desks and institutional clients. Coordinate with these partners to source collateral, share secondary market liquidity, and expand the distribution network for the firm's CMO offerings.
• You'll c ontinuously monitor Agency MBS and related fixed‑income market developments to identify relative value opportunities and generate trade ideas. Proactively communicate structuring strategies and opportunistic trade ideas to sales teams and clients, contributing to the desk's proactive idea flow and overall franchise value.
• You'll prepare daily P&L reports, reconcile trade positions, and perform performance attribution to understand drivers of desk profitability. Execute and manage hedging strategies for the CMO pipeline and inventory and maintain trading book exposures within established risk parameters in coordination with the Head of the CMO desk. Ensure all trading and structuring activities comply with regulatory requirements and the firm's internal trading policies.

Education & Experience Requirements

• This level of knowledge is normally acquired through completion of a Bachelor's Degree in Finance, Economics, or a related field of study and 1+ years of related experience trading or structuring mortgage‑backed securities (MBS) in a buy‑side or sell‑side environment, or an equivalent combination of education and experience.
• MBA or other relevant advanced degree, or a CFA designation, is preferred as evidence of strong analytical background and commitment to professional development.
• Experience preparing daily P&L, risk metrics, and reconciliations in a fixed‑income trading environment
• Securities Industry Essentials (SIE) Exam, FINRA Series 7 , and Series 63 licenses, or the ability to obtain within 3–6 months after hire.

Working Conditions & Physical Requirements

Office

BOK Financial Corporation Group is a stable and financially strong organization that provides excellent training and development to support building the long term careers of employees.With passion, skill and partnership you can make an impact on the success of the bank, customers and your own career!
The companies in BOK Financial Corporation Group are equal opportunity employers. We are committed to providing equal employment opportunities for training, compensation, transfer, promotion and other aspects of employment for all qualified applicants and employees without regard to sex, race, color, religion, national origin, age, disability, pregnancy status, sexual orientation, genetic information or veteran status.

Investing in our talent and building a great workplace is a top priority for us.

For more than a century, BOK Financial Corporation has helped fuel the success of clients and communities. Since our humble beginnings in Tulsa, Oklahoma, we’ve grown into a diversified financial services company that serves consumers, small businesses and international corporations—and everything in between.

Facts:

• Operations focused in an eight-state footprint
• 5,000 team members
• $53.2 billion in assets*
• $129.3 billion in assets under management and administration*
• $9.3 million donated to local nonprofits in 2025
• 56,000 volunteer hours by our employees in 2025