Residential Mortgage Securitization Trader - Associate

J.P. Morgan; New York (NY); On-site; USD 120,000 - 190,000; Full time

Job summary

Chase seeks an Associate Trader focused on residential mortgages and RMBS to source collateral, analyze relative value, and execute transactions in a fast-paced capital markets environment.

You will collaborate with Sales, Trading, Structuring, Research, and Origination teams to align collateral strategy with market execution and balance sheet objectives, building deep product expertise and contributing to platform growth.

Qualifications

• Strong written and verbal communication skills; ability to clearly articulate analysis and market views to varied audiences.
• Demonstrated relationship-building skills and comfort representing the platform with external counterparties.
• Bachelor’s degree or equivalent experience with strong quantitative, analytical, and problem-solving skills.
• Strong interest in financial markets and the drivers of pricing, liquidity, and relative value.
• Ability to translate market, collateral, and transaction data into actionable business insights in a fast-paced environment.
• Intellectual curiosity and desire to develop expertise in residential mortgages, securitized products, and trading dynamics.
• Strong work ethic, professionalism, judgment, and ability to handle sensitive information appropriately.

Responsibilities

• Drive collateral sourcing and market engagement with investors, correspondent lenders, and internal partners.
• Analyze collateral attributes, cash flows, and structural features to inform pricing, execution, and risk transfer outcomes.
• Develop and communicate relative value views and actionable trade ideas for distribution and execution.
• Support structuring, marketing, and execution of RMBS securitizations and related capital markets transactions.
• Monitor pipeline, inventory, hedging, and desk performance; identify key drivers, risks, and opportunities.
• Prepare and present materials on performance, strategy, and market opportunities to senior stakeholders.
• Build and enhance analytical frameworks, tools, and processes to improve decision-making and scalability.

Skills

Communication

Relationship building

Quantitative skills

Market knowledge

Education

Bachelor’s degree or equivalent

Tools

Python

Excel

PowerPoint

Job description

Be at the center of the residential mortgage market—where collateral strategy, market pricing, and transaction execution come together.

The Consumer & Community Banking Capital Markets – Portfolio team manages approximately $500B of balance sheet assets across Residential, Auto, and Commercial Real Estate, spanning the full loan lifecycle from product development and originations through hedging, asset-liability management, servicing strategy, and exit execution via loan sales and securitization. The team has built a leading securitization and risk transfer platform across flagship shelves (CHASE, CHAOT, CACLN), with over $70B of loan trading activity and a top-tier market presence.

As an Associate Trader, you will focus on residential mortgages and RMBS, sourcing collateral, analyzing relative value, and executing transactions. You will engage directly with investors and correspondent lenders while partnering closely with Sales, Trading, Structuring, Research, and origination teams to align collateral strategy with market execution and balance sheet objectives. This role is designed for someone who wants to be close to markets, build strong product expertise, and contribute directly to the continued growth of the residential securitization platform.

Job responsibilities

• Drive collateral sourcing and market engagement with investors, correspondent lenders, and internal partners
• Analyze collateral attributes, cash flows, and structural features to inform pricing, execution, and risk transfer outcomes
• Develop and communicate relative value views and actionable trade ideas for distribution and execution
• Support structuring, marketing, and execution of RMBS securitizations and related capital markets transactions
• Monitor pipeline, inventory, hedging, and desk performance; identify key drivers, risks, and opportunities
• Prepare and present materials on performance, strategy, and market opportunities to senior stakeholders
• Build and enhance analytical frameworks, tools, and processes to improve decision-making and scalability

Required qualifications, capabilities, and skills

• Strong written and verbal communication skills; ability to clearly articulate analysis and market views to varied audiences
• Demonstrated relationship-building skills and comfort representing the platform with external counterparties
• Bachelor’s degree or equivalent experience, with strong quantitative, analytical, and problem-solving skills
• Strong interest in financial markets and the drivers of pricing, liquidity, and relative value
• Ability to translate market, collateral, and transaction data into actionable business insights in a fast-paced environment
• Intellectual curiosity and desire to develop expertise in residential mortgages, securitized products, and trading dynamics
• Strong work ethic, professionalism, judgment, and ability to handle sensitive information appropriately

Preferred qualifications, capabilities, and skills

• Proficiency with Python and data/analytics workflows (including AI-enabled tooling), plus strong Excel and PowerPoint skills
• Financial modeling experience (cash flow analysis, bond math, securitization analytics) and familiarity with relevant market instruments
• Prior experience in structured products, mortgage/RMBS markets, trading, capital markets, or securitization structuring/execution
• Commercial mindset with ability to identify opportunities and contribute to execution-oriented workstreams

Chase is a leading financial services firm, helping nearly half of America’s households and small businesses achieve their financial goals through a broad range of financial products. Our mission is to create engaged, lifelong relationships and put our customers at the heart of everything we do. We also help small businesses, nonprofits and cities grow, delivering solutions to solve all their financial needs.

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.

Equal Opportunity Employer/Disability/Veterans

Our Consumer & Community Banking division serves our Chase customers through a range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. We’re proud to lead the U.S. in credit card sales and deposit growth and have the most-used digital solutions – all while ranking first in customer satisfaction. Trade residential mortgage securitizations—source collateral, price RMBS, and help grow a leading platform.