The MBS Allocations (Fixed Income Middle Office) supports the day-to-day allocation and lifecycle processing for Agency MBS TBA trades and specified pools, ensuringaccuratetrade capture, matching/affirmation, position integrity, andtimelysettlement. This role partners with Trading, Sales, Operations, Finance, Risk, and Technology toidentifyand resolve issues across the fixed income trade lifecycle.Theposition contributes to reducing operational risk, supports process improvements/automation efforts, and helps ensure adherence to internal policies and market deadlines.
Essential Job Duties
Execute daily allocation of Agency MBS TBA trades across accounts/strategies, ensuring adherence to allocation policies, good delivery, client guidelines, and cutoff times
Monitor TBA and pool positions (pair-offs, rolls, substitutions, and netting) and coordinate with Trading toanticipateoperational impacts and help prevent position breaks
Provide day-to-day trader support including trade entry and capture;validatetrade economics and required identifiers (e.g., counterparty, broker, settlement date, pool details where applicable) to supporttimelyMBSCC processing
Support integrity of trade capture and downstream bookings by reviewing key economics (coupon, settlement date, factor, price/yield, fees) andassistingwith the processing of amendments/cancellationsin accordance withprocedures
Monitor MBSCC/DTCC matching and affirmation; track unmatched items and exceptions and coordinatetimelyresolution with counterparties and internal stakeholders
Support failsresolutionin partnership with Settlements/Operations; communicate status to the desk, document issues, and escalate items appropriately
Support position/P&L integrity by reviewing reconciliation outputs, prioritizing break remediation, and partnering with Finance/Risk as needed to resolve issues
Coordinate newissueand secondary securitized support as needed (CUSIP setup requests, factor updates, announcements), helping ensureaccuratestatic data and controlled implementation of changes
Support allocation and lifecycle controls:maintainprocedures and evidence asrequired,assistwith audit/regulatory requests, and escalate operational risk eventsin accordance withpolicy
Manage and process MBSCC trade assignmentsas neededfor Agency MBS TBA trades, ensuringtimelysubmission andaccurateassignment details in line with desk instructions and market cutoffs.
Qualifications
7–12+ years of experience in Agency MBS (TBA and specified pools) middle office/trade support/allocations
Deep understanding of the MBS trade lifecycle including TBA settlement conventions, pair-offs, dollar rolls,tradeassignment processes, and fails/claims; able to advise stakeholders on operational implications.
Strong working knowledge of DTCC/MBSCC workflows and exception management; proven ability to drive complex, cross-functional issue resolution under tight deadlines.
Strong systems aptitude with hands-on experience using ION,Bloomberg, MBSE and Impactto support trade capture, allocation workflows, and reconciliations
Advanced Excel skills (pivot tables, lookups) and strong analyticalskills
Demonstrated ability to thrive in a fast-paced, dynamic environment—prioritizing competing deadlines, adapting to changing desk needs/market conditions, andmaintainingaccuracy and control.
Bachelor’s degreerequired; relevant certifications are a plus.
The expected base salary ranges from $82,000 - $145,000. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications and licensesobtained Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.
#LI-Hybrid
Other requirements
Mizuho has in place a hybrid working program, with varying opportunities for remote work depending on the nature of the role, needs of your department, as well as local laws and regulatory obligations. Roles in some of our departments have greater in-office requirements that will be communicated to you as part of the recruitment process
Mizuho Financial Group, Inc. is the 15th largest bank in the world as measured by total assets of ~$2 trillion. Mizuho's 60,000 employees worldwide offer comprehensive financial services to clients in 35 countries and 800 offices throughout the Americas, EMEA and Asia. Mizuho Americas is a leading provider of corporate and investment banking services to clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho provides M&A, restructuring and private capital advisory capabilities across Americas, Europe and Asia. Mizuho Americas employs approximately 3,500 professionals, and its capabilities span corporate and investment banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody and research. Visit www.mizuhoamericas.com
Mizuho Americas offers a competitive total rewards package.
We are an EEO/AA Employer - M/F/Disability/Veteran.
We participate in the E-Verify program.
We maintain a drug-free workplace and reserve the right to require pre- and post-hire drug testing as permitted by applicable law.
#LI-MIZUHO
This is not your typical financial institution. It’s our people who make us a cut above. Here, every person is respected because of their differences, not in spite of them. We pride ourselves on a culture of purpose, passion and compassion.
At Mizuho, we provide the stability of an international industry leader with the career trajectory of a growing business. Our steady, strategic growth gives our people at all levels rewarding degrees of responsibility and a richer work experience than a boutique firm or an established giant could offer alone.
Working for Mizuho opens doors not just to a rewarding career with excellent prospects, but to lasting friendships with colleagues from diverse cultures. It’s the local expertise of our employees that makes our global network so powerful. By collaborating with colleagues and clients who have your same ambition, you can amplify your sphere of influence and base of knowledge as part of one of the largest—and growing—banks in the world.
We’re all global citizens, and that’s why our company feels compelled to make an impact through more than just drawing up deals. We prove that it’s possible to do well and do good. We do right by our clients, our community and each other.
