Agency MBS Senior Analyst/Trader

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 $250k-$275k. This represents base salary range only.

Other Compensation and Benefits: In addition to base salary, employees are eligible for a discretionary bonus and a comprehensive benefits package designed to support you and your family, invest in your health and wellbeing, and help build long-term financial security. Benefits include medical, dental, and vision coverage, retirement benefits, and paid time off. These benefits reflect our commitment to supporting the health, wellbeing, and long-term financial security of our employees and their families.

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