Analyst, Mortgage Backed Securities (MBS)

Job title: Analyst, Mortgage Backed Securities (MBS)

About the Role The Agency MBS Analyst supports and helps develop the firm’s Agency MBS/TBA trading business, with secondary responsibilities in trading support and market making. This early-career role is designed to build foundational Agency MBS expertise across analytics and trade execution support. The position will also interface with Houston-based mortgage lending and origination teams as the business expands.

What You'll Do

• Support Agency MBS/TBA trading activities, including collateral and prepayment analysis; develop Python-based analytical tools to streamline data workflows.
• Partner with institutional sales teams to address client demand for Agency MBS products; provide timely market color, liquidity insights, and product education.
• Build and maintain relationships with external counterparties, including dealer trading desks and institutional clients.
• Monitor Agency MBS and broader fixed-income market developments to identify relative value opportunities and generate trade ideas; proactively communicate recommendations to sales teams and clients.
• Prepare daily P&L reporting, reconcile trade positions with middle office, and perform performance attribution to identify key drivers of desk results.

What We're Looking For

• Interest in Agency MBS/TBA trading and fixed-income markets, with a focus on analytics and trade execution support.
• Foundational skills in data analytics and programming (e.g., Python) to build tools and streamline workflows.
• Ability to collaborate with institutional sales teams, external counterparties, and client-facing partners; strong written and verbal communication.
• Interest in monitoring market developments and identifying relative value opportunities.

Compensation & Benefits Salary Range: 120,000.00 - 130,000.00 USD per year; note that the Salary Range shown is a guideline and actual offer may vary based on knowledge, skills, and experience.