Position : Director Secondary Market

Requisition ID: : 1530

The Director, Secondary Marketing manages all aspects of the Credit Union’s secondary market mortgage loan activities and is responsible for overseeing and facilitating activities related to Mortgage Pipeline Hedging, Pricing and Rates, Margin Management and Loan Sale Execution. This includes monitoring mortgage secondary markets, establishing daily mortgage prices/rates, hedging interest-rate risk on secondary market loans, managing daily risk positions, best execution of loan deliveries into the secondary market, and serving as a primary contact with investors.

The incumbent also manages all loan participation sale activities including mortgage, commercial and consumer loan participations. This includes developing and maintaining relationships with investors and vendors.

ESSENTIAL RESPONSIBILITIES:

• Develop and maintain mortgage pricing model for daily rate sheet distributions. Maintain risk-based pricing parameters and ensure alignment with Secondary Market Investor pricing.

• Analyze market conditions and competitor trends and provide feedback and insight to executive and leadership teams, including competitor pricing comparisons and industry margin trends.

• Collaborate with hedge advisory vendor to ensure sufficient hedge coverage on an ongoing basis. Provide detailed analytics to hedging advisor related to operational turn times, margin strategies and pull-through ratios. Manage relationship with hedge advisor.

• Create and maintain best execution model to maximize gain on sale.

• Complete rate lock requests accurately and ensure compliance with all investor and organizational policies, procedures, and guidelines.

• Oversee and process mortgage loan pricing inquiries from Mortgage Operations and Sales team; develop and distribute reports as required

• Oversee and facilitate loan sale activities, including GSE deliveries, collateral management and purchase advice reconciliations.

• Develop and maintain monthly, quarterly and annual reporting related to loan sale activity and gain on sale income.

• Provide market information and peer comparisons to senior management for use in budgeting, forecasting, and other strategic planning.

• Develop relationships and identify opportunities for Loan Participations with other Credit Unions and Investors. Facilitate Pool Bid Process and Due Diligence Reviews.

• Offer recommendations and collaborate with Mortgage Operations, Sales, and Finance teams, to continuously improve work processes and enhance efficiencies for Loan Sales and Participations.

• Develop and maintain departmental processes and procedures; identify gaps and implement improvements.

• Collaborate with other departments in management and oversight of the Mortgage Pricing Engine.

• Address employee and member concerns with professionalism and confidentiality, in a prompt and courteous manner.

• Maintain compliance to organizational guidelines, policies, and procedures by enforcing approved standards as they relate to mortgage lending and secondary market requirements.

• Adhere to all Federal and State laws and regulations governing the mortgage company, including the Bank Secrecy Act.

EDUCATION and/or EXPERIENCE:

• 10 years of experience in secondary market is preferred.

• Advanced knowledge of mortgage lending practices, processes and regulations.

• Ability to anticipate needs and prioritize projects in a fast-paced environment with tight deadlines and high-volume peaks while producing high-quality work.

• Strong business communication skills; able to articulate professionally for a variety of audiences.

• Ability to foster strong relationships with internal and external stakeholders.

• Advanced research, analytical and problem-solving skills with an excellent attention to detail.

• Demonstrated effective time management skills and the ability to work independently or in a collaborative team environment.

CERTIFICATES, LICENSES, REGISTRATIONS, TRAINING:

In addition to the education requirement, the following is required:

• Advanced knowledge of FHLMC, FNMA and FHA mortgage products and systems.

The pay range for this position is listed above. Our pay ranges are designed to allow for candidates with various levels of experience and skill to be considered, and to allow room for growth to be achieved in a role over time. Generally, new hire salary offers fall within the minimum to midpoint of a pay range for many candidates. Any offer extended to a candidate will be based upon their individual combination of experience, knowledge, skills, and education as well as internal equity.

Financial Partners Credit Union is an equal opportunity employer and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

$124,891.22 - $187,336.82