MBSCC Specialist- AVP/VP

Mizuho Financial Group Inc.; New York (NY); Hybrid; USD 82,000 - 135,000; Full time

Job summary

Mizuho Financial Group, Inc. is seeking a MBSCC Trade Assignments Specialist / MBS Allocator in New York. You will process Agency MBS TBA trade assignments and ensure accurate allocation through settlement, working with Trading, Sales and Settlements.

The role requires 3–7+ years in Agency MBS middle office, DTCC MBSCC knowledge, advanced Excel, and experience with ION, Bloomberg, MBSE and Impact. Hybrid work is available; base salary range is $82,000–$135,000 with discretionary bonus.

Qualifications

• 3–7+ years of experience in Agency MBS middle office, trade support, allocations, or related operations.
• Strong understanding of the MBS trade lifecycle, including TBA settlement conventions, allocations/assignments, pair-offs, rolls, pool assignment processes, and fails/claims.
• Strong knowledge of the trade lifecycle, including DTCC netting procedures and exception management across fixed income products.
• Hands-on experience with DTCC MBSCC trade assignments and processing (matching/affirmation, netting/obligations, and exception queues).
• Working knowledge of MBSCC timing, cutoff schedules, and key settlement controls; ability to coordinate across Trading and Settlements to prevent/mitigate fails.
• Advanced Excel skills and strong attention to detail; ability to work effectively under intraday deadlines.
• Clear written and verbal communication skills with the ability to partner across Trading, Sales, Settlements, and Technology.
• Bachelor’s degree or equivalent relevant experience.

Responsibilities

• Manage and process MBSCC trade assignments for Agency MBS TBA trades, ensuring timely submission and accurate assignment details in line with desk instructions and market cutoffs.
• Monitor DTCC MBSCC for trade matching/affirmation; work exception queues and resolve unmatched, DK, and un-compared items efficiently, coordinating with counterparties and internal stakeholders.
• Allocate Agency MBS TBA trades to accounts/strategies and maintain accurate TBA positions and monitor pool position as needed.
• Provide trader support including trade entry and capture; confirm trade economics and required identifiers to ensure trades are assignment-ready for MBSCC processing.
• Partner with Trading and Sales to respond to trade queries, investigate issues, and coordinate resolutions with internal teams and counterparties.
• Support netting procedures across MBSCC settlement cycle; coordinate with Settlements on obligations and timely resolution of exceptions impacting settlement.
• Process and control trade amendments/cancellations and assignment updates; reconcile front-office bookings to MBSCC status and ensure changes are reflected accurately through the assignment and settlement lifecycle.
• Track and communicate daily MBSCC assignment and matching status via dashboards; escape time-sensitive risks that could impact settlement.
• Monitor FOBO reconciliation reports and resolve trade/position breaks; perform position and P&L support checks as applicable and clear exceptions through investigation and coordination.
• Assist with ad-hoc requests as needed.

Skills

Advanced Excel

Attention to detail

Effective communication

Education

Bachelor’s degree or equivalent

Tools

ION

Bloomberg

MBSE

Impact

Job description

The MBSCC Trade Assignments Specialist / MBS Allocator (Fixed Income Middle Office)

Is responsible for accurate and timely processing of MBSCC trade assignments for Agency MBS TBA activity, ensuring that executed trades are correctly allocated and assigned for DTCC MBSCC processing from trade date through settlement.

This role partners closely with Trading, Sales, and Settlements/Operations to manage MBSCC matching/affirmation, monitor exceptions, and resolve DKs/unmatched items while adhering to market cutoffs and internal controls.

Essential Job Duties

• Manage and process MBSCC trade assignments for Agency MBS TBA trades, ensuring timely submission and accurate assignment details in line with desk instructions and market cutoffs.
• Monitor DTCC MBSCC for trade matching/affirmation; work exception queues and resolve unmatched, DK, and un-compared items efficiently, coordinating with counterparties and internal stakeholders.
• Allocate Agency MBS TBA trades to accounts/strategies and maintain accurate TBA positions and monitor pool position as needed.
• Provide trader support including trade entry and capture; confirm trade economics and required identifiers (e.g., counterparty, broker, settlement date, pool details where applicable) to ensure trades are assignment-ready for MBSCC processing.
• Partner with Trading and Sales to respond to trade queries, investigate issues, and coordinate resolutions with internal teams and counterparties.
• Support netting procedures across MBSCC settlement cycle; coordinate with Settlements on obligations and timely resolution of exceptions impacting settlement.
• Process and control trade amendments/cancellations and assignment updates; reconcile front-office bookings to MBSCC status and ensure changes are reflected accurately through the assignment and settlement lifecycle.
• Track and communicate daily MBSCC assignment and matching status (cutoffs, pending items, exceptions) via dashboards; escape time-sensitive risks that could impact settlement.
• Monitor FOBO reconciliation reports and resolve trade/position breaks; perform position and P&L support checks as applicable and clear exceptions through investigation and coordination.
• Assist with ad-hoc requests as needed.

Qualifications

• 3–7+ years of experience in Agency MBS (TBA and specified pools) middle office, trade support, allocations, or related operations.
• Strong understanding of the MBS trade lifecycle, including TBA settlement conventions, allocations/assignments, pair-offs, rolls, pool assignment processes, and fails/claims.
• Strong knowledge of the trade lifecycle, including DTCC netting procedures and exception management across fixed income products.
• Hands‑on experience with DTCC MBSCC trade assignments and processing (matching/affirmation, netting/obligations, and exception queues) and demonstrated ability to resolve unmatched/DK/un-compared items quickly.
• Working knowledge of MBSCC timing, cutoff schedules, and key settlement controls; ability to coordinate across Trading and Settlements to prevent/mitigate fails.
• Strong systems aptitude with hands‑on experience using ION, Bloomberg, MBSE and Impact to support trade capture, allocation workflows, and reconciliations.
• Advanced Excel skills and strong attention to detail; ability to work effectively under intraday deadlines.
• Clear written and verbal communication skills with the ability to partner across Trading, Sales, Settlements, and Technology.
• Bachelor’s degree or equivalent relevant experience.

Other Requirements

Mizuho has in place a hybrid working program, with varying opportunities for remote work depending on the nature of the role, needs of your department, as well as local laws and regulatory obligations.

Roles in some of our departments have greater in-office requirements that will be communicated to you as part of the recruitment process.

Compensation

The expected base salary ranges from $82,000 - $135,000. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications and licenses obtained. Market and organizational factors are also considered.

In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

Company Overview

Mizuho Financial Group, Inc. is the 15th largest bank in the world as measured by total assets of ~$2 trillion. Mizuho's 60,000 employees worldwide offer comprehensive financial services to clients in 35 countries and 800 offices throughout the Americas, EMEA and Asia. Mizuho Americas is a leading provider of corporate and investment banking services to clients in the US, Canada, and Latin America.

Through its acquisition of Greenhill, Mizuho provides M&A, restructuring and private capital advisory capabilities across Americas, Europe and Asia. Mizuho Americas employs approximately 3,500 professionals, and its capabilities span corporate and investment banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody and research.

Visit www.mizuhoamericas.com.

Mizuho Americas offers a competitive total rewards package.

We are an EEO/AA Employer - M/F/Disability/Veteran. We participate in the E-Verify program. We maintain a drug-free workplace and reserve the right to require pre- and post-hire drug testing as permitted by applicable law.

Why Mizuho

Mizuho is in growth mode as we are climbing the league tables, disrupting the status quo, and attracting top talent.

Positions are available across our corporate functions, and on our corporate and investment banking, capital markets, advisory, research, sales & trading, derivatives, and financing teams.

We are looking for candidates who want to contribute to our entrepreneurial culture where people at all levels are inspired to share ideas. Our creativity sets us apart, and our perseverance drives results in creating bespoke, client-focused solutions.

If you are interested in advancing your career working for a firm with a growth mindset and the resources of a global financial services team, we would like to hear from you.

For more information, please view our Recruiting Brochure