GENERAL SUMMARY:
This position is responsible for supporting the Secondary Marketing functions in all facets of pricing, pipeline management, loan delivery, and investor management, including Mortgage-Backed Securities (MBS).
NATURE AND SCOPE OF POSITION:
This position works with a minimal amount of supervision and direction and is authorized to take reasonable actions necessary to carry out the assigned responsibilities of the position, provided that such action is consistent with cost-effective practices and is consistent with the policy and procedures of Kinecta Federal Credit Union.
SUPERVISORY RESPONSIBILITIES:
There are no direct supervisory responsibilities but will be expected to take the lead on assigned projects ad may oversee the work of others working on assigned project.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Manages daily Agency/Investor best execution pricing and TBA interpolations, including margin management.
- Manages Agency / Investor pricing strategy to ensure profitability and competitiveness in our focus market segments.
- Manages whole loan agency cash and MBS including coordinating the settlement process with the Accounting & Finance Departments.
- Process and review daily pipeline position reports for cash window delivery.
- Helps develop and maintain Secondary Marketing daily/monthly P/L attribution reporting for month end GOS reporting.
- Provides high level management and strategy on the implementation and integration of Polly Ex with Encompass.
- Has in-depth knowledge of pipeline hedging concepts and can validate the Secondary Marketing hedge position managed by our hedge advisory.
- Responsible for managing pipeline MSR values in Polly Ex and w/hedge advisory to ensure accurate MSR valuations through the pipeline life cycle.
- Participates in managing counter-party risk with Secondary Marketing investors including annual investor certifications.
- Coordinates loan sale strategy in Accounting/Finance/Residential Lending.
- Maintains counterparty TBA margin requirements including monthly TBA pair-off wires.
- Promotes best execution hedging and delivery strategies.
- Responsible for all aspects of agency (FNMA/FHLMC/FHLB/GNMA) loan delivery
- Manages the entire GNMA MBS process including the GNMA responsibilities with Loan Servicing, Accounting and Audit/Compliance.
- Ensures Department procedures are complete and updated.
- Meets with internal and external auditors to demonstrate compliance with department procedures
- Understand and maintains a thorough knowledge of Residential Lending Products and provides industry best practices feedback.
- Work independently on special projects.
- Ability to work under pressure.
NON-ESSENTIAL DUTIES AND RESPONSIBILITIES:
Performs other duties as assigned.
MINIMUM QUALIFICATIONS
Knowledge, Skills and Abilities:
- Experience managing MBS delivery and pipeline management.
- Strong understanding of best execution strategies.
- Background or understanding of pricing and hedging concepts.
- Excellent communication skills – phone, personal contact and written.
- Maintains effective communication and working relationship with manager, co-workers, branches, and home office departments.
- Able to work as part of a team as well as independently, and with people of diverse backgrounds.
- Possess good judgment, ability to accept responsibility and handle confidential information.
- Must be a self-starter, dependable, accurate in completing responsibilities with strong attention to detail.
- Professional in standards, skills, and manner of dealing with others.
- Ability to accept and facilitate change.
- Ability to work quickly and accurately under pressure.
- Ability to analyze information and make decisions.
Education, Training and Experience:
Potential candidates for this position must meet the following requirements:
Bachelor’s degree in Business/Economics or related field of study or comparable experience.
Minimum five years’ experience as a Secondary Marketing Manager.
Excellent writing skills, detail oriented, and strong mortgage product knowledge including both government and conventional loans.
Five to six years of experience as a financial analyst preferred.
One year of relevant professional-level work experience may be substituted for one year of required education.
WORKING CONDITIONS:
- The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc.
- The job may require flexibility with regards to scheduling days, hours, and work location, depending on business needs.
- The job is typically sedentary but may require standing and walking up to 35% of the work time to transfer files, ask questions, and related activities.
- Required to travel to work sites or other sites for events
PHYSICAL ABILITIES, MENTAL DEMANDS, AND WORK ENVIRONMENT
Individual should be able to exercise sound judgment, be able to plan, be well organized, have excellent oral and written communications skills, work well under pressure, take the initiative, and be flexible and cooperative. The individual should also be accurate, timely, and respect confidentiality concerning employee information and company records.
While performing the job duties of this position, the employee is regularly required to sit; talk or hear in person and by telephone; use hands to operate standard office equipment; reach with hands and arms; lift minimum 10 lbs.
The employee is frequently required to walk and stand. Specific vision abilities required by this job include close vision and the ability to adjust focus to read and operate office equipment as necessary during the course of the work assignments. The employee works under typical office conditions and noise levels.