Vice President, Agency MBS Trader

About the role

Santander is seeking a Vice President to lead market‑making, risk management and revenue generation across Agency Mortgage‑Backed Securities (MBS) products. The role sits within the CIB division and requires deep knowledge of the mortgage market, strong quantitative abilities and the capacity to make rapid trading decisions in a risk‑controlled environment.

Key responsibilities

• Make markets and execute transactions across Agency MBS products, including To‑Be‑Announced securities, specified pools and pass‑through securities.
• Manage trading positions, market risk, basis risk, convexity risk, prepayment exposure and daily P&L within approved limits.
• Price securities and evaluate relative‑value opportunities using market data, yield, spread and option‑adjusted spread analysis.
• Develop and execute hedging strategies using U.S. Treasury securities, futures, swaps and options.
• Monitor macroeconomic trends, interest‑rate movements, Federal Reserve activity and housing‑market dynamics that affect MBS valuations.
• Generate trade ideas, communicate market color and liquidity to Institutional Sales and clients.
• Collaborate with Research, Sales, Risk, Operations and Finance to resolve trade, valuation and reporting matters.

Required profile

• Relevant work experience in Agency MBS trading or fixed‑income markets.
• Strong quantitative and analytical capabilities.
• Ability to work within established risk limits and regulatory requirements.

Required skills

• Mortgage analytics and relative‑value pricing.
• Yield, spread and option‑adjusted spread analysis.
• Hedging using Treasury securities, futures, swaps and options.