Why join this team
This position assists in the management and oversight of Secondary Marketing Department functions and staff. Your scope of responsibilities will range from assisting with investor relations and management to pipeline risk management for hedged position to reconciling reporting to contributing mechanisms for daily pricing.
This position is expected to be hybrid. Due to the nature of our business in New York City, please note that UNFCU will require that you show current proof of COVID-19 vaccination upon acceptance of employment.
NYC Salary Range - $92,300 - $135,000 annually; compensation is commensurate to geographic location.
What you'll do
What we're seeking
- Manage interest rate and credit risk for fixed rate loans, manage relationship and outputs of Hedging analytics provider (MIAC) and monitor daily reports to assure proper governance of position.
- Maintain guidelines and procedures regarding rate lock-ins and pricing.
- Ensure mortgage loans sales are performed in accordance with pipeline risk management, are taken under best execution, and are settled in a timely manner with investors.
- Assist with the management of Correspondent product and pricing.
- Provide oversight for product and pricing engine Optimal Blue, and provide operational training to staff for the system.
- Perform review of annual certifications with investors.
- Maintain working knowledge of processing systems in order to analyze mortgage portfolio and pricing trends, and execute loan sales.
- Audit staff reports to ALCO Committee, Pricing Committee, and Senior Management.
- Coordinate sales activities with Accounting, Mortgage Operations and Underwriting Departments to ensure saleable profitable loans.
- Perform risk analysis on the loan portfolio to identify concentration of risks and recommend policy changes to mitigate risk. Prepare and conduct formal presentations for Senior Management related to credit risk analysis and loan portfolio reviews as required.
- Interact with internal and external audit examiners to discuss loan sale history and risk analysis.
What makes you stand out
- Bachelor's degree and 10 years' experience within secondary market (FNMA, FHLB, FHA, SONYMA), including loan sales, hedging, pricing and lock desk
- Strong understanding of market dynamics and how these affect interest rate risk management, loan sales and hedging
- Strong math and computer skills, with intermediate to advanced knowledge of Microsoft Word, Excel and PowerPoint
- Strong overall knowledge of underwriting, quality control, compliance and contract obligations
- Strong level knowledge of Fannie Mae and other major investor underwriting requirements, pricing requirements, committing and delivery requirements
- Strong Knowledge of Product and Pricing engines such as Optimal Blue, Encompass, or MortgageBot
- Excellent verbal and written communication skills and ability to work well independently
- Proficiency in multi-tasking and prioritizing
- Ability to work in a fast paced environment
Who we are
- Working knowledge of Loan Operating Systems
UNFCU is a global not-for-profit financial institution that serves the UN community. We are committed to providing peace of mind to our members and colleagues and strive to achieve service excellence in all that we do. The best part of UNFCU is the people. Those that choose to work with us often find personal fulfillment, professional growth and a purposeful culture.
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