CIB Agency Mortgage Backed Securities Trader, Vice President Country: United States of America
It Starts Here: Santander is a general leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what's possible. This is more than a strategic shift. It's a chance for driven professionals to grow, learn, and make a real difference.
The Difference You Make: The Agency Mortgage-Backed Securities ("MBS") Trading Vice President is responsible for market-making, risk management, trade execution, and revenue generation across Agency MBS products. The role requires deep knowledge of mortgage markets, strong quantitative and analytical capabilities, and the ability to make timely trading decisions in a fast-paced, risk-controlled environment. You will partner closely with Institutional Sales, Research, Structuring, Operations, Finance, Technology,



Risk, and Compliance to deliver liquidity, market insights, and trade ideas to institutional clients while managing the firm's positions in accordance with established risk limits and regulatory requirements.
Key responsibilities include: Make markets and execute transactions across Agency MBS products, including To-Be-Announced securities, specified pools, pass-through securities, and related mortgage products.
Manage trading positions, market risk, basis risk, convexity risk, prepayment exposure, and daily profit and loss within approved limits.
Price securities and evaluate relative-value opportunities using market data, prepayment assumptions, yield and spread analysis, option-adjusted spread analysis, and other mortgage analytics.
Develop and execute hedging strategies using U.S. Treasury securities, futures, swaps, options, and other appropriate instruments.
Monitor macroeconomic de

📌 CIB Agency Mortgage Backed Securities Trader, Vice President (Madrid)
🏢 Santander
📍 Madrid