Agency MBS Trader
About the Position
Guggenheim Partners is seeking an exceptional Agency Mortgage-Backed Securities (MBS) Trader. This Santa Monica based role reports to the head of Agency MBS investments and interacts with portfolio managers across fixed income sectors as well as various internal departments including portfolio construction, client management, marketing, market risk, and operations. The scope of the position requires Agency MBS product expertise, trading execution experience, and a strong combination of qualitative and quantitative skills.
Specific Responsibilities Include
- Assist with management of Agency MBS portfolio allocation, security selection, surveillance, and trading activity.
- Regularly generate original investment ideas that are scalable for a large portfolio.
- Conduct bottom-up micro analysis at the individual security level including review of deal collateral and structure for presentation to senior team members and PMs.
- Ensure best execution for all desk trading activity across a multitude of Agency MBS products. Execute trades in primary and secondary markets.
- Develop and maintain strong relationships with counterparties to identify areas of liquidity, trading developments, and dealer axes across various products at all times.
- Assist with presenting portfolio and market developments to the broader Investments division as well as deep dive analyses to portfolio managers.
- Develop, maintain, and manage MBS risk surveillance and performance reports for presentation to desk management and portfolio managers.
- Maintain accurate analytics, modeling and valuation of securities and portfolios. Work with our risk, portfolio and client management groups to assure accurate portfolio information.
- Develop expertise with existing tools and models. Support the scoping and project management of technology initiatives.
- Identify opportunities to expand the scope and success of our business.
- Provide mentorship and guidance to junior team members in the areas of bond market functions, fixed income fundamentals, and MBS analysis and trading. Maintain a high level of professional conduct and adherence to firm and desk policies as a model for junior team members.
Skills & Experience Required
- MBA and CFA or equivalent educational background.
- 3-5 years investment experience in Agency MBS.
- Demonstrated background in trade execution in Agency MBS.
- Deep experience with cashflows (specified pools, CMOs), including valuation and relative value.
- Proficiency with prepayment models and other tools for analyzing cashflows (YieldBook, Intex, AnSer, Bloomberg)
- Strong finance, economic, business and technical skills.
- Ability to multi task across analytical, administrative, and research activities in a detail oriented and timely manner.
- Strong commitment to performance and accuracy of work product.
- Ability to effectively collaborate and establish strong working relationships in a team-based environment and across other groups.
- Strong communication skills that will drive success in a team-based environment as well as through articulating views and investment ideas to senior management.
- Oriented to continuous risk management and process and productivity improvement. Must be results driven, have attention to detail, have passion for driving best practices, and be skilled at diplomatically breaking down barriers and obstacles.
About Guggenheim Investments
Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with expertise in fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our team of investment professionals performs rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification opportunities and attractive long-term results.
To succeed in the Guggenheim culture, candidates must be self-starters and strive for results. We are looking for people, who operate as business owners, adhere to the highest standards and think creatively to realize opportunities, wherever they may be.
Guggenheim Partners is an Equal Opportunity Employer committed to a diversified and inclusive workforce.
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