Agency MBS Senior Analyst/Trader
The TCW Group, Inc., Los Angeles, California, United States, 90079
Position Summary
This position is based in TCW’s Los Angeles office and reports to the Co-Heads of Global Securitized Products within TCW’s Fixed Income team. The role requires working onsite five days per week. The Senior Analyst/Trader will join the Agency MBS team (and the broader Global Securitized team) to provide market surveillance, investment analysis, best execution, and portfolio optimization across TCW’s managed portfolios. These portfolios span a range of investment styles, including Agency MBS benchmarked, Core Plus, Unconstrained, and a suite of dedicated securitized strategies targeting returns from cash +150 bps to +500 bps.
Essential Duties Agency MBS Market Coverage & Investment Activity
Trading & Execution:
Execute Agency MBS trades across specified pools, TBAs, and CMO structures with precision and efficiency
Portfolio Management:
Collaborate with portfolio managers to optimize allocations, and help manage duration, convexity, and prepayment risk.
Market Analysis:
Monitor market trends, rate movements, and liquidity conditions to identify opportunities and mitigate risk.
Client Interaction:
Support client inquiries, provide market color, and assist in structuring solutions tailored to client objectives.
Risk Oversight:
Ensure compliance with internal risk limits and regulatory requirements.
Collaboration:
Work closely with Rates, Risk and Operations teams in day-to-day trading and execution; work closely with proprietary analytics developers to enhance workflow and trading efficiency
Training and mentoring:
A Team player who can effectively work with and provide leadership to others.
Required Qualifications
Bachelor’s degree; minimum 10 years of buy-side or sell-side experience trading Agency MBS.
Proficiency in Yield Book, TradeWeb, Bloomberg, advanced MS Excel, and Intex.
Experience with Python, SQL, and/or VBA.
Professional Skills Qualifications
Excellent verbal and written communication skills.
Highly motivated and resourceful with strong work ethic and entrepreneurial mindset.
Desired Qualifications
Graduate degree and/or CFA designation preferred; or, equivalent work experience.
This role requires candidates to work from a TCW office five days a week.
Estimated Compensation Base Salary:
For CA based position, the base salary range is $350k-$400k. This represents base salary range only.
Other Compensation:
In addition to the base salary, this position will be eligible to be considered for an annual discretionary bonus.
Benefits:
Eligible for TCW’s comprehensive benefits package.
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Essential Duties Agency MBS Market Coverage & Investment Activity
Trading & Execution:
Execute Agency MBS trades across specified pools, TBAs, and CMO structures with precision and efficiency
Portfolio Management:
Collaborate with portfolio managers to optimize allocations, and help manage duration, convexity, and prepayment risk.
Market Analysis:
Monitor market trends, rate movements, and liquidity conditions to identify opportunities and mitigate risk.
Client Interaction:
Support client inquiries, provide market color, and assist in structuring solutions tailored to client objectives.
Risk Oversight:
Ensure compliance with internal risk limits and regulatory requirements.
Collaboration:
Work closely with Rates, Risk and Operations teams in day-to-day trading and execution; work closely with proprietary analytics developers to enhance workflow and trading efficiency
Training and mentoring:
A Team player who can effectively work with and provide leadership to others.
Required Qualifications
Bachelor’s degree; minimum 10 years of buy-side or sell-side experience trading Agency MBS.
Proficiency in Yield Book, TradeWeb, Bloomberg, advanced MS Excel, and Intex.
Experience with Python, SQL, and/or VBA.
Professional Skills Qualifications
Excellent verbal and written communication skills.
Highly motivated and resourceful with strong work ethic and entrepreneurial mindset.
Desired Qualifications
Graduate degree and/or CFA designation preferred; or, equivalent work experience.
This role requires candidates to work from a TCW office five days a week.
Estimated Compensation Base Salary:
For CA based position, the base salary range is $350k-$400k. This represents base salary range only.
Other Compensation:
In addition to the base salary, this position will be eligible to be considered for an annual discretionary bonus.
Benefits:
Eligible for TCW’s comprehensive benefits package.
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