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        Structured Products Trader, ABS

        Various
        New York

        Join our D. E. Shaw Asset-Backed Strategies (ABS) team in New York. The D. E. Shaw group seeks talented structured products traders to join its Asset-Backed Strategies (ABS) team in New York. The ABS team invests in a wide range of public and private opportunities across the structured credit universe, including loans, bonds, residuals, and esoteric asset classes. This role offers the opportunity to manage investments across multiple funds, collaborate with an innovative and dynamic team, and contribute to the firm's flagship and opportunistic strategies in a collegial, engaging environment.

        What you’ll do day-to-day

        • Generate, underwrite, execute, and monitor investment ideas across structured credit products, including Residential Mortgage-Backed Securities (RMBS), consumer Asset-Backed Securities (“ABS”), whole-business securitizations, and aviation finance.
        • Manage portfolio exposures across multiple funds.
        • Lead and execute high-impact strategies, including sourcing, negotiating with lessors, and monetizing assets directly in the market.
        • Maintain and implement derivative hedging strategies, conduct ongoing surveillance of portfolio positions, and leverage advanced analytics, machine learning models, and structured data pipelines to enhance investment precision.
        • Develop and maintain an extensive sell-side network to source trades and liquidity, ensuring effective execution and market access across public and private markets.

        What we’re looking for

        • A master’s degree in finance, mathematics, or a related field of study.
        • Five years of experience in the following: trading structured products at a buy-side firm; managing securitized products portfolios and executing investments across a range of structured credit assets, including loans, bonds, and residuals; generating investment ideas, underwriting opportunities, conducting surveillance, and executing trades within both public and private markets; developing and maintaining derivative hedging strategies across rates, equities, and credit; conducting granular consumer credit analysis; pricing securitized products using the Intex cashflow modeling tool; building analytics to track performance and surveillance programmatically using Python and SQL; database management of a securitized products database, including Loan Performance; modeling defaults and prepayments of granular consumer portfolios; underwriting complex deal documents to evaluate covenants and legal strategies; negotiating private transactions in the Asset-Backed space; securitization domain knowledge and interaction with stakeholders, including lawyers, bankers, and trustees; cashflow modeling of bespoke private transactions; Python programming for financial modeling; scenario analysis of non-agency mortgage cash flows; structured credit portfolio valuation using Intex software; database management of mortgage-specific datasets; balance sheet risk analysis for financial institutions.
        • Alternatively, the employer will accept a bachelor’s degree in finance, mathematics, or a related field of study, plus seven years of experience trading structured products at a buy-side firm; managing securitized products portfolios and executing investments across a range of structured credit assets, including loans, bonds, and residuals; generating investment ideas, underwriting opportunities, conducting surveillance, and executing trades within both public and private markets; developing and maintaining derivative hedging strategies across rates, equities, and credit; conducting granular consumer credit analysis; pricing securitized products using the Intex cashflow modeling tool; building analytics to track performance and surveillance programmatically using Python and SQL; database management of a securitized products database, including Loan Performance; modeling defaults and prepayments of granular consumer portfolios; underwriting complex deal documents to evaluate covenants and legal strategies; negotiating private transactions in the Asset-Backed space; securitization domain knowledge and interaction with stakeholders, including lawyers, bankers, and trustees; cashflow modeling of bespoke private transactions; Python programming for financial modeling; scenario analysis of non-agency mortgage cash flows; structured credit portfolio valuation using Intex software; database management of mortgage-specific datasets; balance sheet risk analysis for financial institutions.
        • The base salary for this position is $300,000 - $350,000. Our compensation and benefits package includes variable compensation in the form of a year-end bonus, guaranteed in the first year of hire, and benefits including medical and prescription drug coverage, 401(k) contribution matching, wellness reimbursement, family building benefits, and a charitable gift match program.
        • Please email your resume and cover letter to recruitment-nyc@world.deshaw.com and reference 2026-6010 CWA in the subject or body of your email.

        The D. E. Shaw group is an equal opportunity employer.

        The applicable annual base salary or hourly rate paid to a successful applicant will be determined based on multiple factors, including without limitation the nature and extent of prior experience and educational background.

        European Union (EU), United Kingdom (UK), California, Hong Kong, Singapore, or Shanghai candidates should refer to the corresponding linked privacy notice.

        The D. E. Shaw group may collect, use, hold, transfer, and process candidates’ resumes and associated information (including personal information contained therein) for purposes reasonably related to their application, including without limitation: review and management of employment applications and supporting materials; administration and management of offers to and communication with candidates; and administration, management, and improvement of the recruiting operations of the D. E. Shaw group; and/or where reasonably required in connection with a proposed sale, spin-out, reorganization, or outsourcing of all or some of the business of the D. E. Shaw group. The D. E. Shaw group will not use such information for purposes unrelated to the foregoing, such as direct marketing of third-party products to candidates, without candidate consent. As used herein, the term “personal information” is meant to broadly describe information identifying or relating to a specific individual; it is intended to encompass “personal data,” “sensitive personal data,” and “personally identifiable information” and similar terms, as those terms are defined by law in the jurisdictions in which the D. E. Shaw group operates.

        The D. E. Shaw group may transfer such personal information within and outside the country and jurisdiction of the locations where the D. E. Shaw group maintains offices, to other D. E. Shaw group affiliates, to government and regulatory authorities, and to third parties which provide or may provide support and/or services to the D. E. Shaw group and for the purposes set forth above. The persons who may have access to this personal information are other employees of the D. E. Shaw group, in connection with the performance of their duties of employment, and the other parties listed above, in connection with the business of the D. E. Shaw group. (Of course, candidates will be considered for employment opportunities only in those countries in which they express interest.)

        The D. E. Shaw group will use reasonable care to maintain the confidentiality of personal information (including appropriate technical measures against unauthorized or unlawful processing and against accidental loss or destruction of, or damage to, such information) and will retain such data as required by applicable law or regulation. Candidates have the right to request access to, and correction of, their personal information in accordance with applicable law; any such request should be submitted to recruiting-inquiries@deshaw.com. Candidates who have submitted a resume to the D. E. Shaw group and do not wish to proceed with their applications should email cvwithdraw@deshaw.com. Personal information of candidates who have been the subject of background checks may have been transferred in accordance with applicable regulations, and any concerns with such transfers should be submitted to backgroundcheck-inquiries@deshaw.com.

        The D. E. Shaw group may retain candidates’ information for prospective recruiting activities, including sourcing candidates for employment opportunities and for organizing events with prospective candidates, in accordance with our internal data retention procedures. Candidates who do not agree to such future use should email recruiting-inquiries@deshaw.com.