Structured Credit Trader (CMBS/RMBS/ABS/CLO)
A global investment manager is seeking a mid‑level Structured Credit Trader (5-10 years of experience) to join its New York-based discretionary credit team. The role will tentatively report to a senior credit portfolio manager and focus on trading and risk‑managing a range of U.S. securitized products including ABS, CMBS, and RMBS, with CLO trading experience considered a meaningful plus.
The team is prioritizing candidates with U.S. market experience and a strong background from the sell‑side at major U.S. or European banks, as these profiles offer relevant flow exposure, strong market connectivity, and cost‑effective seniority compared to candidates coming from CLO managers.
Responsibilities:
Trading & Market Coverage
- Trade and manage risk across ABS, CMBS, RMBS, and related securitized products.
- Evaluate, price, and execute opportunities in both primary and secondary markets.
- Maintain strong relationships with dealers, sales/trading desks, and structured credit counterparties.
- Contribute to expanding the firm's discretionary structured credit capabilities.
Research & Portfolio Contribution
- Analyze collateral pools, deal structures, documentation, prepayment behavior, credit enhancement mechanics, and market technicals.
- Monitor and manage risk exposures and work with risk management teams on hedging strategies.
- Identify relative‑value opportunities across U.S. securitized credit segments.
Collaboration
- Work closely with senior traders, credit analysts, and quantitative researchers.
- Provide insight on market dynamics, liquidity conditions, and pricing trends.
- Assist in improving internal analytics, valuation tools, and risk models.
Requirements:
Experience
- 5-10 years of experience trading U.S. ABS/CMBS/RMBS.
- CLO trading experience or familiarity with CLO structures is a plus.
- Strong sell‑side background at a major U.S. or European bank preferred.
- Proven ability to manage risk and contribute to PnL in securitized products.
Skills
- Deep understanding of securitization structures and collateral analytics.
- Strong dealer network and experience executing complex or illiquid trades.
- Solid analytical and modelling skills; familiarity with structured credit tools.
- Excellent communication and ability to collaborate across global teams.
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