Analyst, Mortgage Backed Securities (MBS)

Job Description

Analyst – Mortgage Backed Securities (MBS) New York, NY | Scotiabank

The Tone:
This is an early-career Analyst role at Scotiabank, located in New York, NY. Scotiabank’s Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing presence in the US and Latin America, operating globally for over 100 years. GBM provides a full range of investment banking, credit, and risk management products and services to clients across various industries. This role is crucial for supporting and developing the firm’s Agency MBS/TBA trading business, focusing on building foundational expertise in analytics and trade execution.

The TL;DR
• Role: Early Career
• Location: In-person, New York, NY
• Pay: $120000–$130000 yearly
• Team: Global Banking and Markets, supporting the Agency MBS/TBA trading business.
• Mission: This person supports and develops the firm’s Agency MBS/TBA trading business by building foundational expertise across analytics and trade execution support.
• Tech Stack: Python, Bloomberg, fixed-income analytics platforms

What You’ll Actually Do
• Trading Support: Support Agency MBS/TBA trading activities, including collateral and prepayment analysis, and develop Python-based analytical tools to streamline data workflows.
• Client Engagement: Partner with institutional sales teams to address client demand for Agency MBS products, providing timely market color, liquidity insights, and product education.
• Relationship Building: Build and maintain relationships with external counterparties, including dealer trading desks and institutional clients.
• Market Analysis: Monitor Agency MBS and broader fixed-income market developments to identify relative value opportunities, generate trade ideas, and proactively communicate recommendations to sales teams and clients.
• Reporting & Hedging: Prepare daily P&L reporting, reconcile trade positions with middle office, perform performance attribution, and execute and manage hedging strategies using TBA, U.S. Treasuries, swaps, and swaptions within established risk limits.

The Must-Haves
• Background: Bachelor’s degree in Finance, Economics, Mathematics, Engineering, or a related field, with an interest in Agency MBS/TBA markets.
• Experience: 0–3 years of experience in fixed income (trading, analytics, research, or risk); experience building repeatable analytics and automations for data analysis and reporting.
• Skills: Strong quantitative, analytical, and problem-solving skills with the ability to synthesize market and collateral data into actionable insights; proficiency in Python; strong written and verbal communication skills; high attention to detail and sound judgment in a fast-paced trading environment.
• Bonus: Master’s degree preferred; familiarity with Bloomberg and/or other fixed-income analytics platforms preferred; FINRA Series 7 and 63 (or ability to obtain).