Mortgage Servicing Right Hedging - Analyst

JPMorgan Chase & Co.; New York (NY); On-site; USD 90,000 - 130,000; Full time

Job summary

JPMorgan Chase & Co. in New York City is seeking an Analyst for the CIO MSR Hedging Team. You will support hedging strategies for Chase's Mortgage Servicing Rights and deepen knowledge of US rates and mortgage markets.

The role involves building analytics and collaborating with trading counterparties to manage risk on a fast-paced trading desk. Responsibilities include developing modeling frameworks, supporting a Portfolio Manager, and working with business partners on risk-management projects.

Qualifications

• Strong quantitative and analytical skills.
• Solid grounding in fixed income securities including rates, mortgages, and derivatives.
• Ability to comprehend complex concepts and models.
• Self-starter who can succeed independently in a dynamic, fast-paced environment.
• Maturity to succeed in a dynamic, open trading desk environment.
• 0+ years of experience in finance, markets, or quantitative fields.

Responsibilities

• Develop knowledge of the US rates and mortgage markets, identifying value propositions and areas of opportunity.
• Support senior Portfolio Manager to formulate and execute hedging strategies.
• Develop and maintain accurate analytics, modeling, and valuation frameworks for fixed income instruments, including embedded and explicit options.
• Build and maintain relationships with trading counterparties.
• Work with business partners across lines of business on collaborative hedging and risk-management projects.

Skills

Quantitative skills

Fixed income

Derivatives

Independent worker

Team player

Tools

Programming skills

Job description

When you join the CIO MSR Hedging team, you become part of a group managing interest rate risk for one of the world's largest global financial institutions. The Treasury and Chief Investment Office (TCIO) at JPMorgan Chase & Co. is responsible for firm wide asset and liability management for one of the world's largest global financial institutions with more than $5.0tn in assets and liabilities, including more than $2.7tn in deposits. TCIO is also responsible for developing and executing the firm's capital, balance sheet, liquidity and funding strategy. TCIO oversees a $800 billion global investment securities portfolio that is used to earn returns on excess deposits while managing the interest rate risk of the firm against its liabilities.

As an Analyst in our CIO MSR Hedging Team within T/CIO in New York City, you will develop knowledge of the US rates and mortgage markets while supporting the team's efforts to formulate and execute hedging strategies for Chase's Mortgage Servicing Rights. The team is responsible for managing the risk of Chase's Mortgage Servicing Right, through the use of linear (Treasury, interest rate swaps, futures), and non-linear (options, board options) rates related products, as well as mortgage products. The team works closely with Chase Home Lending Capital Markets Group to formulate and execute hedging strategies.

Job Responsibilities

• Develop knowledge of the US rates and mortgage markets, identifying value propositions and areas of opportunity
• Support senior Portfolio Manager to formulate and execute hedging strategies
• Develop and maintain accurate analytics, modeling, and valuation frameworks for linear and options-based fixed income instruments, including embedded and explicit options
• Build and maintain relationships with trading counterparties
• Work with business partners across lines of business on collaborative hedging and risk-management projects

Required Qualifications, Capabilities, and Skills

• Strong quantitative and analytical skills
• Solid grounding in fixed income securities including but not limited to, rates, mortgages, and derivatives, with the ability to build frameworks and tools to analyze them
• Ability to comprehend complex concepts and models, with a willingness to dive into details to find answers
• Self-starter who can succeed independently in a dynamic, fast-paced environment, as well as collaboratively within a team
• Maturity and the ability to succeed in a dynamic, fast-paced, and open trading-desk environment
• 0+ years of experience working in finance, markets, or quantitative fields

Preferred Qualifications, Capabilities, and Skills

• Understanding of interest rate or mortgage products, including options and embedded options
• Prior sell-side markets exposure such as trading desk experience, trading rotations, or markets-focused internships is a strong plus
• Knowledge and aptitude in programming skills
• Strong understanding of trading and markets