The Vanguard Group

We are looking for an experienced trader to join Vanguard’s Fixed Income Global Bond Index Team. This is a risk-taking and risk management role with significant opportunity and expectations to make valuable contributions to Vanguard’s fixed income portfolio management and trade execution process. If you have a strong passion for investing and solid experience in a trading role, we want to hear from you!

Responsibilities:

• Trade and help manage Agency MBS, Agency CMBS, Non-Agency CMBS, and ABS positions for Vanguard’s Fixed Income Index Portfolios.
• Identify and research relative value opportunities. Recommend trades and strategies to capitalize on the ideas. Execute trades, manage risks, and track performance.
• Contribute to the team’s strategic outlook for MBS/ABS/CMBS related sectors. Suggest positions and strategies to express these views.
• Ability to run various sensitivity and scenario analysis using prepayment models with the ability to effectively communicate model output to portfolio managers.
• This is a risk-taking/risk management position. Trader can act with a level of discretion set by the portfolio manager. Amount of discretion can increase with experience and level of comfort of portfolio manager.
• Analyze the funds’ performance relative to the benchmark. Interpret and report on the performance attribution for MBS related positions.
• Track the sectors and keep portfolio managers updated on key developments. Analyze value within the sector and determine what is being priced into the market. Understand and anticipate the drivers of value across MBS/ABS/CMBS related markets.
• Identifies, recommends, and develops process improvements. Recommend ways to better measure, understand, and manage risks.
• Maintain relationship with dealers. Collect color, ideas and research from the street and filter this information to the portfolio managers.
• Backs up portfolio manager when he/she is off the desk.

Qualifications:

• Undergraduate degree (preferably in accounting, finance, economics, math, or engineering). MBA/Masters/Ph.D. and/or CFA preferred.
• Prefer prior MBS experience with deep knowledge of MBS modeling, prepayment behavior, interest rates and volatility.
• Prior experience with Agency MBS, CMBS, and/or ABS is desirable.
• An excellent understanding of financial markets and macroeconomics.
• Detail-oriented with the ability to work in a fast-paced environment.
• Excellent communication and mathematical skills.
• Strong analytical and problem-solving skills.
• Ability to work independently.
• This is a work from office role Monday-Friday***

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.