Campus – Capital Markets Program Associate

Playing an essential role in the U.S. economy, Fannie Mae is foundational to housing finance. Here, your expertise can help fuel purpose-driven innovation that expands access to homeownership and affordable rental housing across the country. Join Fannie Mae to grow your career and help people find a place to call home.

Job Description

This full-time associate role, beginning on July 19, 2027, has a set annual gross base salary of $95,000 a year.

This position has multiple openings and will be based in our Washington, D.C. (Midtown Center) office.

WHY STUDENTS CHOOSE FANNIE MAE:

• Build a career with purpose at the intersection of technology, finance, and national impact.
• Work on innovative, enterprise-scale solutions that help make homeownership and rental housing more accessible for millions of people across the country.
• Gain hands-on experience in a technology-enabled environment that encourages curiosity, innovation, and the responsible use of emerging tools, including artificial intelligence, to improve how we work and solve problems.
• Be treated as a real contributor from day one — collaborating across teams, working alongside experienced leaders, and gaining exposure to complex business challenges.
• Benefit from mentorship, professional development, and networking opportunities designed to help you grow your career and expand your professional network.
• Make a meaningful impact while developing the tools, exposure, and experience to succeed in your career.

THE IMPACT YOU WILL MAKE

The Treasury & Capital Markets Associate Program is a two-year rotational experience designed for recent college graduates. It offers a unique opportunity to gain firsthand insight into how Fannie Mae supports liquidity, stability, and access across the U.S. housing finance system.

The program begins with an immersive boot camp that builds a strong technical and business foundation. Associates then complete up to four rotations across market-facing and analytical teams, which may include Pricing & Sales, Whole Loan Conduit Trading, Mortgage-Backed Securities Liquidity, Credit Risk Transfer, Structured Transactions, Securitization Policy, Multifamily Capital Markets, Market Risk, Retained Portfolio, Quantitative Analytics, Investor Engagement & Advocacy, and Treasury.

Throughout the program, you will experience daily market activity from the Fannie Mae Market Room trading floor and work alongside experienced capital markets professionals. As you rotate across teams, you will contribute to key business priorities, strengthen your technical expertise and commercial judgment, and build relationships across the organization.

By the end of the program, you will have a broad understanding of how capital markets support Fannie Mae’s business, advance our mission, and contribute to a stable and liquid U.S. housing finance system.

Examples of Tasks and Projects

Assignments will vary by rotation and may include opportunities to:

• Monitor financial markets, fixed-income trends, and mortgage-backed securities performance to identify developments that may affect pricing, liquidity, risk, or business strategy.
• Support trading activities, capital markets transactions, securitization processes, and other time-sensitive business initiatives.
• Develop relationships with dealers, market makers, investors, and internal partners to gather market intelligence, exchange pricing information, and support team priorities.
• Use market data, internal valuation tools, risk models, and statistical analysis to evaluate securities, identify patterns, and inform business decisions.
• Conduct quantitative research to support pricing, trading, valuation, forecasting, and risk-management activities.
• Develop reproducible analyses, data visualizations, dashboards, and research tools using programming languages such as Python, R, or SQL.
• Prototype, test, validate, and monitor valuation, pricing, forecasting, and risk models.

ADDITIONAL DEVELOPMENT YOU’LL RECEIVE

Jumpstart your journey with First Year Forward (FYF)—a comprehensive, year-long development experience designed to accelerate the success of early-career talent at Fannie Mae. Through a structured program that blends curated learning, cross-functional networking, and social engagement, you will build a strong foundation in business and professional acumen.

Throughout your first year, FYF offers mentorship, executive speaker sessions, and hands-on learning opportunities designed to deepen your understanding of how Fannie Mae creates value while supporting U.S. homeowners and renters, and to help you build meaningful relationships across the organization.

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Qualifications

• Authorization to work in the U.S. without sponsorship
• Academic achievement (preferred GPA of 3.0 or higher)
• Bachelor’s obtained between December 2026 and Spring 2027
• Shows curiosity and adaptability in learning and responsibly applying new technologies, including artificial intelligence, to reimagine how we work.

Preferred Qualifications

• Pursuing a degree in Finance, Business, Economics, Mathematics, or a related field
• Strong analytical background
• Demonstrated leadership capabilities and the ability to contribute to a team atmosphere
• Self-starter, strong business acumen, and results-focused
• Superior communication skills, both oral and written
• Strong aptitude with technology applications (Excel, Bloomberg, Tableau, SQL, PowerBI, Coding Languages)

Capital Markets - Market Transactions Program - Associate
Target Pay Range: $95,000 a year
#LI-DNI

Qualifications

Education:

Bachelor's Level Degree (Required)

The future is what you make it to be. Discover compelling opportunities at Fanniemae.com/careers.

For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.

Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.

The hiring range for this role is set forth below. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.

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