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Mortgage Servicing Rights Hedge Analyst


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Location: El Paso TX

Company Name: USAA

Occupational Category: 13-1111.00,Management Analysts

Date Posted: 2020-02-12

Valid Through: 2020-03-13

Employment Type: FULL_TIME

Description:

Purpose of Job

Responsible for mortgage pipeline and warehouse risk management, secondary market loan sale executions and settlements, and accurately executing secondary market interest rate risk hedging and hedge related procedures. This role ensures effective coordination with cross-functional mortgage fulfillment functions and maintains compliance with policies, procedures, regulatory requirements and generally accepted accounting principles applicable to the mortgage and banking industry.

Job Requirements

Tasks:

Under minimal supervision, applies advanced knowledge to trade mortgage backed securities and/or interest rate risk of rate locks in the pipeline and closed loans in the warehouse.
Under minimal supervision, applies advanced knowledge to execute complex interest rate risk hedging and hedge related procedures.
Independently administers best execution for sale of mortgage loans, including evaluation of mandatory, best efforts, whole loans, MBS (agency and private label servicing retained, and servicing released.
May assist with oversight and execution of complete pricing models.
May develop, implement, maintain, and monitor policies and processes to ensure the attainment of business goals and objectives.
Identifies opportunities to improve operational effectiveness and is accountable for results.
Frequently meets with senior Finance and Business Executives to provide USAA's position for hedge review results and trading exposures.
Occasionally makes recommendations for potential changes to strategy and modeling assumptions.
Maintains advanced knowledge of products and services and regulatory requirements; Uses established procedures and guidelines to effectively carry out secondary market operations in compliance with applicable regulations.
Supports broader interest rate risk management approach through analysis of risk, development of hedge strategies, and execution of transactions to mitigate exposure deriving from mortgage servicing rights or other balance sheet elements.
Provides guidance and/or on the job training to less experienced coworkers.
Serves as a resource to team members on escalated issues of a complex nature.
Performs all other tasks as assigned.

Minimum Education:

Bachelor's degree in Finance, Economics, or a related field required.
4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.

Minimum Experience:

6 or more years relevant experience, to include at least 4 years in hedging mortgage origination pipeline experience with secondary marketing risk management systems.
Advanced experience with AOT, MBS, and cash sales.
Advanced knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
Advanced knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
Established relationships with participants in the secondary mortgage markets.
• Under minimal supervision, applies advanced knowledge to trade mortgage backed securities and/or interest rate risk of rate locks in the pipeline and closed loans in the warehouse.
• Under minimal supervision, applies advanced knowledge to execute complex interest rate risk hedging and hedge related procedures.
• Independently administers best execution for sale of mortgage loans, including evaluation of mandatory, best efforts, whole loans, MBS (agency and private label), servicing retained, and servicing released.
• May assist with oversight and execution of complete pricing models.
• May develop, implement, maintain, and monitor policies and processes to ensure the attainment of business goals and objectives.
• Identifies opportunities to improve operational effectiveness and is accountable for results.
• Frequently meets with senior Finance and Business Executives to provide USAA's position for hedge review results and trading exposures.
• Occasionally makes recommendations for potential changes to strategy and modeling assumptions.
• Maintains advanced knowledge of products and services and regulatory requirements; Uses established procedures and guidelines to effectively carry out secondary market operations in compliance with applicable regulations.
• Supports broader interest rate risk management approach through analysis of risk, development of hedge strategies, and execution of transactions to mitigate exposure deriving from mortgage servicing rights or other balance sheet elements.
• Provides guidance and/or on the job training to less experienced coworkers.
• Serves as a resource to team members on escalated issues of a complex nature.
• Performs all other tasks as assigned.

Minimum Requirements
• Bachelor's degree in Finance, Economics, or a related field required; 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• 6 or more years relevant experience, to include at least 4 years in hedging mortgage origination pipeline experience with secondary marketing risk management systems.
• Advanced experience with AOT, MBS, and cash sales.
• Advanced knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
• Advanced knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
• Established relationships with participants in the secondary mortgage markets.

Preferred Qualifications
• Experience performing professional duties in support of the capital markets functions for mortgage servicing rights (MSR) hedging, execution of bank balance sheet hedges, along with possible bank portfolio trade execution and support functions.
• Experience supporting analysis and execution for mortgage servicing rights (MSR) hedging.
• Knowledge related to analysis of MSR hedge performance and reporting of relative value analysis of hedge instruments along with net changes in asset and hedge value.
• Experience with an interest rate risk management approach through analysis of risk, development of hedge strategies, and execution of transactions to mitigate exposure deriving from mortgage servicing rights or other balance sheet elements.
• Ability to develop, implement, maintain, and monitor policies and processes to ensure the attainment of business goals and objectives.
• Executive presence; ability to interact with Mortgage Capital Markets leadership to review analysis, assumptions, and position attribution.

The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

At USAA our employees enjoy one of the best benefits package in the business, including a flexible business casual or casual dress environment, comprehensive medical, dental and vision plans, along with wellness and wealth building programs. Additionally, our career path planning and continuing education will assist you with your professional goals.

USAA also offers a variety of on-site services and conveniences to help you manage your work and personal life, including seven cafeterias, two company stores and three fitness centers.

Relocation assistance is available for this position