Hybrid Mortgage Trader – Agency MBS Relative-Value

Loomis, Sayles & Company; Orinda (CA); Hybrid; USD 150,000 - 200,000; Full time

Job summary

Loomis Sayles is seeking a Mortgage Trader to identify and capitalize on US RMBS relative value opportunities. The role sits within Disciplined Alpha in Orinda, CA, collaborating with the Portfolio Manager on trading and risk management.

The position emphasizes deep knowledge of Agency MBS, interaction with broker-dealers, and ongoing evaluation of market dynamics, with a hybrid work schedule and a compensation package including a discretionary incentive.

Qualifications

• Bachelor’s degree; CFA or MBA preferred.
• Deep knowledge of Agency MBS market structure and drivers.
• Experience in Agency MBS trading; non-agency MBS a plus.
• Sell-side trading experience in Agency MBS pools, TBAs, CMOs preferred.
• Strong analytical and organizational skills.
• Ability to work with PMs on strategy and execution.
• Excellent written and oral communication; negotiating skills.

Responsibilities

• Partner with the Portfolio Manager in trading and managing Agency MBS specified pools, TBAs, and CMOs.
• Evaluate the Agency MBS universe, prepayment dynamics, and market drivers for relative value ideas.
• Assess market sentiment, liquidity, trading flows, and volatility trends for portfolio positioning.
• Collaborate with Loomis Sayles Mortgage & Structured Finance group.
• Develop broker relationships to source market intelligence and research insights.
• Drive relative value analysis and risk assessment within the Disciplined Alpha Team.
• Travel to Boston for meetings and to New York for broker-dealer interactions and conferences.

Skills

Analytical skills

Communication

Team player

Regulatory knowledge

Electronic trading tools

Education

Bachelor’s Degree

CFA or MBA preferred

Tools

Trading platforms

Mortgage analytics tools

Proprietary models

Job description

Loomis Sayles is seeking a Mortgage Trader to identify and capitalize on US RMBS relative value opportunities. The role sits within Disciplined Alpha in Orinda, CA, collaborating with the Portfolio Manager on trading and risk management.

The position emphasizes deep knowledge of Agency MBS, interaction with broker-dealers, and ongoing evaluation of market dynamics, with a hybrid work schedule and a compensation package including a discretionary incentive.