VP / Director, Agency MBS Trading

Application Deadline:

09/29/2025

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

The VP or Director (depending on experience and qualifications) in the Agency MBS trading desk to trade, and manage risk / client flows.

BMO is the 8th-largest North American bank. With significant balance sheet and one of the largest Structured products institutional salesforces on the street, BMO is an industry leader in the space and is continuing to grow. BMO is currently the top issuer of Agency CMOs.

• Trade and market Agency MBS – either structured (Agency CMO/CMBS) or flow (TBA/Spec pools)

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

• Connect with clients and via salespeople to market trade ideas and bring inquiry to the trading desk.  

• Offer and trade positions from inventory and generate secondary flows.

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

• Help with managing risk on trading desk positions: MBS, MBS TBA, CMOs, Swaps, Swaptions, Treasuries, Treasury Futures, Options, etc.

• Collaboration & team skills - Ability to work well with the BMO salesforce, other BMO traders, and BMO clients.

• Thrive in the fast paced and intense work environment of a top trading desk.

Qualifications:

• 3+ years of experience in Agency MBS Trading (could be TBA/Specified pools/CMOs) or Research.

• Series 7 and 63 licenses would be required.

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

• Knowledge and experience with CMO IO/Inverse IOs is a plus.

• Experience with Excel and VBA is preferred.

• Strong quantitative analysis, technology and financial analysis skills.

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

• Degree in Mathematics, Finance, or related area.

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

Salary:

VP - $250,000 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, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportuni