Trader, Mortgage Investment Group

What is the opportunity?

We are seeking an experienced trader to join our Mortgage Aggregator. This is a mid-to-senior level role focused on actively managing a portfolio of residential mortgages and identifying relative value opportunities and asymmetric returns within the Canadian mortgage market. The incumbent will further contribute to revenue growth through innovative structured solutions and client engagement.

What will you do?

Trading & Portfolio Management

• Actively manage key risks associated with large mortgage portfolios, including interest rate, prepayment and funding

• Contribute to setting mortgage rates based on available funding sources and underlying market dynamics

• Price large mortgage portfolios and MBS offerings

• Monitor positions and portfolio returns, providing senior management with regular reporting on positioning, risk metrics, and financial performance

Market Analysis & Strategy

• Conduct comprehensive relative value analytics across mortgage products, bonds, repo, money market products, and mortgage-backed securities, identifying trade opportunities

• Develop and articulate well-reasoned market perspectives and formulate opinions on mortgage market direction, macro trends, and implied valuations

• Generate innovative trade ideas and seek out return opportunities across fixed income products

• Present actionable insights and recommendations to senior management

Structuring & Client Solutions

• Assist in the design and structuring of mortgage financing strategies tailored to both desk portfolio optimization and client needs

• Partner with sales and client-facing teams to develop solutions that address client mandates while contributing to desk profitability

• Support new product development and innovation

• Collaborate with internal partners to strengthen client relationships

• Enhance desk visibility and reputation as a partner of choice in the mortgage aggregation space

Risk Management & Governance

• Proactively identify operational risks and control deficiencies in the business

• Review and comply with Firm Policies and Risk Limits applicable to the business line

• Escalate operational risk loss events, control shortages, and risk breaches to your line manager and relevant risk and control functions on a timely basis

Platform Enhancement

• In conjunction with QTS, expand desk's analytical and modelling tools to support ALM, trading and client solutions

• Contribute to strengthening the platform through continuous improvement of processes and analytics

What do you need to succeed?

Required Qualifications

• Minimum Bachelor's degree

• Minimum 5 years of experience in fixed income trading, with substantial background in derivatives, particularly interest rate swaps and swaptions, and their application to mortgage trading and hedging

• Advanced knowledge of mortgage-specific risk factors, including prepayment risk, extension risk, and basis risk

• Proven track record identifying trading opportunities, generating innovative trade ideas and managing multi-faceted portfolios

• Strong analytical and problem-solving skills with proficiency in financial modeling and analytics tools

• Excellent communication skills with ability to present complex ideas clearly and concisely, deliver key messages effectively and negotiate constructively

• Excellent work ethic and attention to detail

• Ability to perform effectively under periods of pressure

• Collaborative mindset and team-first attitude

Preferred Qualifications

• Demonstrated proficiency in managing interest rate risk and convexity within mortgage portfolios

• Functional knowledge of mortgage securitization

• Knowledge of Canadian mortgage market structure, regulation, and market participants

• CFA designation and/or Master's degree

• Strong understanding of regulatory landscape (Basel III) and IFRS 9 accounting principles

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation

• Leaders who support your development through coaching and managing opportunities 

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Flexible work/life balance options

#LI-KA2

Job Skills

Additional Job Details

ROYAL BANK PLAZA, 200 BAY ST:TORONTOTorontoCanada37.5Full timeCAPITAL MARKETSRegularSalaried2026-08-312026-09-14

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.