Senior Structured Credit Trader: CLOs & ABS/CMBS

The Vanguard Group; Malvern (Chester County); Hybrid; USD 180,000 - 280,000; Full time

Job summary

Vanguard seeks a senior structured products trader in Malvern to execute trades across CLOs and structured credits, contributing to portfolio performance through idea generation and positioning. You will analyze cash flows, model risk, and work with research to understand collateral and market dynamics.

Hybrid work supports collaboration and client outcomes. Ideal candidates have strong CLO/structured credit experience, dealer relationships, and CFA preference; visa sponsorship is not available

Qualifications

• 5 years of experience with CLOs/structured credit trading or investing.
• Ability to generate ideas and contribute to performance through trading and positioning.
• Strong understanding of CLO structures and ABS/CMBS markets.
• Cash flow modeling using Intex or similar tools.
• Established dealer and issuer relationships preferred.
• Programming/data skills a plus.
• Strong communication and collaboration skills.
• Direct buy-side experience (nice to have), CFA preferred.

Responsibilities

• Execute trades across CLOs and structured credit in primary and secondary markets with focus on best execution.
• Generate trade ideas and identify relative value opportunities across structures, managers, and vintages.
• Contribute to portfolio construction and positioning.
• Analyze structures and cash flows to evaluate risk and return.
• Partner with research on collateral, structure, and market dynamics.
• Source investment opportunities and liquidity through dealer and issuer relationships.
• Provide market insights and actionable trade recommendations.

Skills

Structured credit trading

CLO structures

Cash flow modeling

Communication skills

Programming/data skills

Education

CFA preferred

Tools

Intex

Job description

Vanguard seeks a senior structured products trader in Malvern to execute trades across CLOs and structured credits, contributing to portfolio performance through idea generation and positioning. You will analyze cash flows, model risk, and work with research to understand collateral and market dynamics.

Hybrid work supports collaboration and client outcomes. Ideal candidates have strong CLO/structured credit experience, dealer relationships, and CFA preference; visa sponsorship is not available