CMBS Trader – VP

Nomura

. Lead structuring and pricing analysis for primary CMBS conduit transactions .

Posted 11/11/2026full-timeNew York City • New York • United StatesLead💰 $225,000 - $250,000 per yearWebsite

Core Competencies

Role fit

Core Competencies

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Demonstrates expertise in CMBS Conduit structuring, including advanced modeling skills and a comprehensive understanding of cash flow mechanics and credit enhancement. Proficient in collaborating with cross-functional teams to optimize transaction structures and manage pipeline risk effectively.

Highest-signal resume keywords

CMBS Conduit StructuringCash Flow ModelingAdvanced Excel ProficiencyIntex ModelingLoan-Level Analytics

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills

CMBS Capital StructuresCredit Enhancement MechanicsTranche InterdependenciesVBAPythonSQLDSCRLTVOccupancyGeographic Diversification

Tools & Technologies

IntexBloombergExcelTreppProprietary Tools

Certifications & Qualifications

CFABachelor's Degree in FinanceBachelor's Degree in EconomicsBachelor's Degree in EngineeringBachelor's Degree in Mathematics

Industry Keywords

CMBSSecuritizationRisk ManagementB-Piece ExecutionRegulatory Capital Implications

Tech Stack

Tools & technologies

PythonSQLVBA

About the role

Key responsibilities & impact

Lead structuring and pricing analysis for primary CMBS conduit transactions
Optimize tranche sizing, credit enhancement, and spread targets
Collaborate with Banking, Underwriting, and Securitization teams to design efficient structures
Build and maintain bond-level cash flow models using Intex, Bloomberg, Excel, and proprietary tools
Develop and refine deal comparables and relative value frameworks across vintages, shelves, and product types
Partner with Sales and Syndicate to provide investors with structural analysis, collateral summaries, and pricing rationale
Manage pipeline risk with Risk Management, including pre-pricing and hedging strategies
Monitor and interpret primary market spreads, issuance trends, and macro factors affecting CMBS and broader credit markets

Requirements

What you’ll need

5+ years of experience in CMBS Conduit structuring
Comprehensive understanding of CMBS capital structures, cash flow waterfalls, prepayment, credit enhancement mechanics, and tranche interdependencies
Modeling skills in Intex, Trepp, and Bloomberg functions
Advanced Excel proficiency, including formulas, macros, and data tables
Experience with VBA, Python, or SQL for custom analytics preferred
Strong command of loan-level analytics, including DSCR, LTV, occupancy, property type concentration, and geographic diversification
Familiarity with risk retention structures, B-piece execution, and regulatory capital implications
Bachelor’s degree in Finance, Economics, Engineering, Mathematics, or another quantitative discipline preferred
Advanced degree or CFA a plus
Established relationships with rating agencies, accounting firms, and B-piece buyers advantageous
Currently authorized to work for any employer in the United States; employment visa sponsorship is not available

Benefits

Comp & perks

Sign-on bonus
Restricted stock units
Discretionary awards
Medical benefits
Financial benefits
Other benefits
401(k) eligibility
Paid vacation
Paid sick time
Paid parental leave