When someone joins JPMorgan Chase, they should know this is a place where they belong. The Treasury and Chief Investment Office (TCIO) at JPMorgan Chase & Co. is responsible for firm wide asset and liability management for one of the world's largest global financial institutions with more than $5.0tn in assets and liabilities, including more than $2.7tn in deposits. TCIO is responsible for developing and executing the firm's capital, balance sheet, liquidity and funding strategy. TCIO oversees a $800 billion global investment securities portfolio that is used to earn returns on excess deposits while managing the interest rate risk of the firm against its liabilities. We are looking for a junior portfolio manager to join our TCIO Investment Portfolio Agency Mortgage-Backed Securities Team, one of the primary asset classes within TCIO's broader portfolio of fixed income investments.
As an Associate or Vice President in our Investment Portfolio Agency Mortgage-Backed Securities Team, within the TCIO, you will spend each day generating research, executing trades, and monitoring markets — contributing to a team responsible for prudently managing the firm's Agency MBS investments with the goal of maximizing risk-adjusted returns in the context of the firm's overall objectives and capital and liquidity framework.
Job responsibilities
- Conduct data-driven, relative-value analysis to generate trade ideas and help inform the portfolio's overall MBS exposure, coupon positioning, and security selection across TBA and specified pool markets
- Execute trades, engage in dialogue, and build relationships with sell-side counterparties, incorporating market color and axes into the desk's view
- Analyze broader trends around supply and demand, prepayments, housing, and the macro environment to inform positioning
- Improve desk processes and analytics
- Prepare and deliver presentations and market updates for the broader TCIO Investment Portfolio team and senior management
- Work with business partners including Middle Office, Risk, Finance, and TCIO Strategy
Required qualifications, capabilities, and skills
- 3+ years of relevant experience in fixed income sales and trading, portfolio management, or research
- Strong understanding of interest rates and fixed income markets
- Strong quantitative and data analysis skills
- Self-starter with ability to continually drive results even under uncertainty
- Excellent communication skills; ability to simply convey complex ideas
- Team-oriented, collaborative mindset; ability to engage in and promote healthy discussion about markets and potential investments
Preferred qualifications, capabilities, and skills
- Strong understanding of mortgage market dynamics, prepayments, and convexity
- Proficiency in Python or similar for manipulating and analyzing data
- Knowledge of macroeconomics and macro-driven investing
- 3+ years of relevant experience within Agency MBS fixed income, in areas such as sales and trading, portfolio management, or research
We offer a competitive total rewards package including base salary determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans
Skills Required
- 3+ years of relevant experience in fixed income sales and trading, portfolio management, or research
- Strong understanding of interest rates and fixed income markets
- Strong quantitative and data analysis skills
- Ability to drive results under uncertainty
- Excellent communication skills and ability to explain complex ideas simply
- Team-oriented and collaborative mindset
- Strong understanding of mortgage market dynamics, prepayments, and convexity
- Proficiency in Python or similar tools for manipulating and analyzing data
- Knowledge of macroeconomics and macro-driven investing
- 3+ years of relevant Agency MBS fixed-income experience in sales and trading, portfolio management, or research
JPMorganChase Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about JPMorganChase and has not been reviewed or approved by JPMorganChase.
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Healthcare Strength — Health coverage is considered comprehensive, including medical, dental, and vision, alongside wellness and mental health resources. Some locations add onsite health centers and related wellbeing support.
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Retirement Support — Retirement offerings include a 401(k)-type savings plan and related financial benefits, with options such as employee stock purchase participation. Financial planning resources are also highlighted to support long-term savings.
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Parental & Family Support — Paid parental leave of 16 weeks for birth or adoption is available for all parents. Child care and back-up child care resources further reinforce family support.
JPMorganChase Insights
What We Do
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Technology fuels every aspect of our company and is at the heart of everything we do. With over 50,000 technologists globally and an annual tech spend of $12 billion, we are dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Learn more about technology at our firm, explore resources from our Distinguished Engineers, AI & ML researchers, and other experts; access the latest episode of our TechTrends podcast, and more at www.jpmorgan.com/technology. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com. ©2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase is an Equal Opportunity Employer, including Disability/Veterans.
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