Vice President or Director, HECM Trading

Application Deadline:

06/29/2025

Address:

151 W 42nd Street

Job Family Group:

Capital Mrkts Sales & Service

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

Reporting to Managing Director on the Agency CMO and HECM desk, the Vice President or Director (depending on experience and qualifications) is expected to price, trade, and manage risk on both new issue and secondary CMO derivatives (Interest-Only securities).

BMO is the 8th-largest North American bank, the top issuer of Agency CMO, and a top-5 issuer of HECM. With significant balance sheet allocated to the sector and one of the largest institutional salesforces on the street, BMO is an industry leader in Agency mortgages and is continuing to grow.

·         Trade and market new issue as well as secondary HECM, preferably with experience trading or structuring reverse mortgage or CMO Derivative (IO/Inverse IO) securities

·         Bring inquiry for new issue and secondary securities through contact with clients and via salespeople.

·         Offer and trade positions from inventory, generate secondary flow

·         Very good understanding of Mortgage cashflows, prepayments and prepay models.

·         Generate trade ideas on Mortgage Backed Securities (MBS) and MBS related instruments. Analyze securities from both a structural and prepayment perspective.

·         Price new issue CMO derivatives in conjunction with structure desk.

·         Help with managing risk on trading desk positions: HECM, MBS, MBS TBA, CMOs, CMO Derivatives (IO/IIOs), Swaps, Swaptions, Treasuries, Treasury Futures, Options, etc.

·         Collaboration & team skills - Ability to work well with the BMO salesforce and other BMO traders

Qualifications:

·         3-6 years of experience in Trading of HECMs.

·         Series 7 and 63 licenses will be required, may be satisfied post-hire.

·         Experience with Intex Dealmaker/Bloomberg/Yieldbook/CMO structuring tools preferred.

·         Experience with Excel, VBA, and Python is preferred.

·         Strong quantitative analysis, technology and financial analysis skills.

·         Risk management skills, fundamental analysis skills and leadership abilities.

·         Analytical and problem-solving skills, data driven decision making.

·         Degree in Mathematics, Finance, or related area.
 

Base Salary

VP - $250,000.00 USD

Director - $275,000 USD

Salary:

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, w