Mortgage Servicing Right Hedging - Analyst

J.P. Morgan; New York (NY); On-site; USD 110,000 - 140,000; Full time

Benefits offered by this job

Health care coverage

Retirement savings plan

Backup childcare

Tuition reimbursement

Mental health support

Financial coaching

Job summary

JPMorgan Chase & Co. in New York City is seeking an Analyst for the CIO MSR Hedging Team to develop knowledge of US rates and mortgage markets while supporting hedging strategies for Mortgage Servicing Rights.

You will build analytics and valuation tools for linear and options-based instruments and work with trading counterparties to manage risk. The role requires strong quantitative skills, a solid fixed income background, and the ability to perform under a fast-paced trading desk environment,

Qualifications

• Strong quantitative and analytical skills are required.
• Solid grounding in fixed income securities including rates, mortgages, and derivatives.
• Ability to understand complex concepts and models and dive into details to find answers.
• Self-starter who can work independently in a fast-paced environment and collaborate on a trading desk.

Responsibilities

• Develop knowledge of the US rates and mortgage markets and identify value propositions.
• Support senior Portfolio Manager to formulate and execute hedging strategies.
• Develop and maintain analytics, modeling, and valuation frameworks for fixed income instruments, including options.
• Build and maintain relationships with trading counterparties.
• Collaborate with business partners on hedging and risk-management projects.

Skills

Strong quantitative and analytical

Fixed income knowledge

Complex concepts comprehension

Self-starter

Dynamic environment adaptability

Finance/markets experience

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

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

Our professionals in our Corporate Functions cover a diverse range of areas from finance and risk to human resources and marketing. Our corporate teams are an essential part of our company, ensuring that we’re setting our businesses, clients, customers and employees up for success.

Join the CIO MSR Hedging Team managing interest rate risk for Chase's Mortgage Servicing Rights