Structured Products Trader

This is an exciting opportunity to join Vanguard’s Structured Products team, a well-established platform within active fixed income with a growing investment footprint. This role offers the ability to contribute directly to portfolio performance through trading, idea generation, and portfolio positioning across CLOs and broader structured credits (ABS/CMBS). The ideal candidate combines strong market knowledge with structured product expertise and the ability to translate analytics into actionable investment decisions.

Responsibilities:

• Execute trades across CLOs and structured credit in primary and secondary markets, with a focus on best execution

• Generate trade ideas and identify relative value opportunities across structures, managers, and vintages

• Contribute to portfolio construction and positioning

• Analyze structures and cash flows to evaluate risk and return across investments

• Partner with research on collateral, structure, and market dynamics

• Source investment opportunities and liquidity through dealer and issuer relationships

• Provide market insights and actionable trade recommendations to the broader team

Qualifications:

• 5 years of relevant experience, with a strong focus on CLOs and/or structured credit trading or investing

• Demonstrated ability to generate ideas and contribute to performance through trading and positioning

• Strong understanding of CLO structures and broader structured credit markets (ABS/CMBS)

• Cash flow modeling (Intex or similar) and analytical skillset

• Established dealer and issuer relationships preferred

• Programming/data skills a plus

• Strong communication and collaboration skills

• Direct buy-side experience (nice to have), CFA preferred

Special Factors

Sponsorship

Vanguard is not offering visa sponsorship for this position.

About Vanguard

At Vanguard, we don't just have a mission—we're on a mission.

To work for the long-term financial wellbeing of our clients. To lead through product and services that transform our clients' lives. To learn and develop our skills as individuals and as a team. From Malvern to Melbourne, our mission drives us forward and inspires us to be our best.

How We Work

Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.