Managing Director, Tactical & Accrual Trading

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Reporting directly to the Head of Tactical & Accrual Trading the PM is expected to be market focused; develop and execute trading strategies in various fixed income sectors; take calculated proprietary risk and make effective trading decisions within the context of the strategic investment plan as set forth by the business heads and leads of Global Markets.

The PM should be an expert in securitized products with a particular focus in Agency MBS. The PM should have an established trading/investment strategy within the space while bringing a proven track record from similar proprietary risk taking experiences. Asset classes may include but are not limited to:

• Agency TBAs
• Agency Pools / Specs
• Agency CMOs
• Agency Derivatives
• Other Agency Securitized Products

The PM is accountable for developing and implementing portfolio strategies which achieve target risk and return profiles for the Global Markets Investment Portfolios. These strategies can cross multiple fixed income asset classes and span the capital stack in terms of liquidity and credit risk. The role requires a deep understanding of fixed income investing and demands a focus for optimizing a portfolio based on ongoing market conditions.

The role is expected to work closely with all the other Investment PMs along with transact with sell-side coverage in ensuring both macro and idiosyncratic risk is managed accordingly in their mandate. This person is expected to maximize profit while prudently minimizing the banks exposure for liquidity needs and adhering to regulatory statutes. The role is expected to work closely with Internal and External clients and partners. This includes working closely with risk/product control to ensure all investing strategies adhere within the defined guidelines.

Knowledge & Skills:

• Minimum of 5-10 years of experience in trading and managing risk within Fixed Income markets preferably in a proprietary or direct investment decision capacity role.
• Experience within the Agency Mortgage space with a specific focus in relative value across various Ginnie Mae / Freddie Mac / Fannie Mae products.
• Familiarity with building quantitative tools for screening of opportunities ideally in the Agency MBS space
• Ability to cultivate relative value and trading ideas across Fixed Income asset classes which are executed using prudent risk management.
• Advanced degree or equivalent experience in financial services accounting or legal fields.
• Must successfully complete the external regulatory exams licenses required to be considered a registered member and senior officer of the firm.
• Having some knowledge of North American and International investment banking business and regulations is preferred but not required.
• Knowledge of credit issues and industry trends in various client sectors throughout the US Canadian and International market.
• Support the execution of operational/tactical strategies for the trading business which will ensure achievement of short and long term objectives in the Canadian and U.S. marketplaces.
• In depth knowledge of credit derivatives and interest rate derivatives.
• Hedge accounting and accrual accounting familiarity would be a plus but not required
• Results oriented and able to adapt to situations quickly.
• Strong ability to think conceptually and to achieve both short and long term business results.
• Highly developed written and oral communication.
• Personable and able to function in a team environment.

Salary:

Please note the base salary for this role is $350000 USD.

Salary:

Pay Type:

The above represents BMO Financial Groups 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 Groups expected target for the first year in this position.

BMO Financial Groups 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: Us

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. Well 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 well help you gain valuable experience and broaden your skillset.

To find out more visit us at is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race religion color national origin sex (including pregnancy childbirth or related medical conditions) sexual orientation gender identity gender expression transgender status sexual stereotypes age status as a protected veteran status as an individual with a disability or any other legally protected characteristics. We also consider applicants with criminal histories consistent with applicable federal state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process please send an e-mail to and let us know the nature of your request and your contact information.

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.