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BMO Financial Group Agency CMO Trader in New York, New York

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

Reporting directly to the Managing Director & Head of Agency CMOs, the Director is expected to price, trade, and manage risk on both new issue and secondary CMO derivatives (Interest-Only securities).

BMO is the 8th-largest North American bank and is a top-5 issuer of new issue Agency CMO. With significant balance sheet allocated to CMOs and one of the largest institutional salesforces on the street, BMO is an industry leader in Agency CMO and is continuing to grow.

· Trade and market new issue as well as secondary Agency CMO, preferably with experience trading CMO Derivative (IO/Inverse IO) securities.

· Bring inquiry for new issue and secondary securities through contact with clients and via salespeople.

· Offer and trade positions from inventory, generate secondary flow

· Very good understanding of Mortgage cashflows, prepayments and prepay models.

· Generate trade ideas on Mortgage Backed Securities (MBS) and MBS related instruments. Analyze securities from both a structural and prepayment perspective.

· Price new issue CMO derivatives in conjunction with structure desk.

· Help with managing risk on trading desk positions: MBS, MBS TBA, CMOs, CMO Derivatives (IO/IIOs), Swaps, Swaptions, Treasuries, Treasury Futures, Options, etc.

· Collaboration & team skills - Ability to work well with the BMO salesforce and other BMO traders


· 4-10 years of experience in Trading of Agency CMO Derivatives.

· Series 7 and 63 licenses required.

· Experience with Intex Dealmaker/Bloomberg/Yieldbook/CMO structuring tools required.

· Experience with Excel and VBA is preferred.

· Strong quantitative analysis, technology and financial analysis skills.

· Risk management skills, fundamental analysis skills and leadership abilities.

· Degree in Mathematics, Finance, or related area.

· Analytical and problem-solving skills, data driven decision making.

Compensation & Benefits:

$200,000 USD - $275,000 USD

Compensation and Benefits:

Pay Type:


The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:

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At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

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BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.