Structured Products Trader

Vanguard Job Opportunity

Structured Products Trader

Location(s) Malvern, PA, US

Work model In office

Date posted October 28, 2026

Job requisition 183439

Supports the Fixed Income portfolio management and trade execution process.

Job description

Benefits and rewards

Join Vanguard's Structured Products team within Active Fixed Income and contribute directly to portfolio performance through trading, investment idea generation, and portfolio positioning. You will focus on structured credit markets, including ABS, CMBS and CLOs. You will apply market knowledge, cash-flow analysis, and relative-value assessment to identify and execute investment opportunities while collaborating closely with research and investment colleagues.

This is an in-office role based in Malvern, PA (HQ).

Responsibilities

• Execute structured credit trades across primary and secondary markets, with a focus on best execution.
• Generate investment ideas and identify relative-value opportunities across ABS, CMBS, CLOs, and other structured credit sectors.
• Contribute to portfolio construction and positioning through actionable trade recommendations.
• Analyze deal structures and cash flows to assess investment risk and return.
• Partner with research colleagues to evaluate collateral, structural characteristics, and market dynamics.
• Source investment opportunities and liquidity through dealer and issuer relationships.
• Monitor structured credit markets and communicate actionable market insights to investment teams.

Qualifications

• 5+ years of relevant experience in structured credit trading or investing.

• Experience generating investment ideas and contributing to portfolio performance through trading, relative-value analysis, or portfolio positioning.

• Strong knowledge of structured credit markets

• Experience using cash-flow modeling and analytical tools, including Intex or similar platforms.

• Ability to communicate investment views and collaborate effectively with research and investment partners.

• Established dealer and issuer relationships, preferred.

• Programming and/or data-analysis skills, preferred.

• Direct buy-side investment experience, preferred.

• CFA designation, preferred.

• Special Factors

• Sponsorship

• Vanguard is not offering visa sponsorship for this position.

• About Vanguard

• At Vanguard, we don't just have a mission—we're on a mission.

• To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.

• How We Work

• Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.

• Read More

• Our commitment to you

• Vanguard takes the same long-term view of your success—at work and in life—with Benefits and Rewards packages that reflect what you care about, throughout all the phases and stages of your life.

Our Total Rewards programs provide you and your loved ones with wellness support for key areas in your life:

• Financial wellness

• We're committed to enabling your financial success and provide competitive offers and programs.

• Physical wellness

• We're committed to providing benefits that support your physical health and wellness.

• Personal wellness

• We're committed to providing resources that help support the full scope of your life.

• Learn more about our complete benefits and rewards package

• Our commitment to equal employment opportunity

• Vanguard is an equal opportunity employer. Vanguard is committed to providing all crew members a working environment that is free from discrimination, prejudice and bias. Through this Equal Employment Opportunity (EEO) Policy, Vanguard reaffirms its commitment to equal employment opportunity for all applicants and crew members without regard to race, color, national origin or ancestry, religion, gender, sex, sexual orientation, gender identity or expression, age, disability, marital status, veteran or military status. In addition, Vanguard prohibits discrimination based on genetic information, as well as any other characteristic protected by federal, state or local law.

• Applicants with disabilities may be entitled to reasonable accommodation under the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on Vanguard. Please inform careers at Vanguard if you need assistance completing this application or to otherwise participate in the application process.

• Let's get started

• Thank you for filling out the form.

• Join the Vanguard Talent Network to learn more about life at Vanguard, career opportunities, and more.

• Fields marked with asterisks are mandatory.