Head of Mortgage Pricing Strategy and Trading - Troy , Michigan, United States, 48099
The Head of Mortgage Trading and Pricing Strategies manages mortgage pipeline position and executes various agency securitization trades including Fannie Mae, Freddie Mac and Ginnie Mae Fixed and Adjustable rate MBS, TBA and Specified pools for hedging as well as securitization. Supervision of Jumbo and CRA whole loan trading is also a part of the job responsibilities as is maintenance of Best Execution of pipeline hedging strategies, as well as Bulk Loan Package pricing and trading and the foundation of the banks execution of its correspondent, wholesale and retail pricing strategies.
- Working with QRM related reports, and Business Intelligence interface to gain understanding of current pipeline positions and intra-day activity.
- Execute TBA trades in Fannie Mae, Ginnie Mae and Freddie Mac securities to reduce interest rate risk. Build/initiate individual TBA/MBS trades as needed. Ensure strong/time sensitive/initiation/execution of all trades.
- Continuously monitor/validate efficiency of trade execution while ensuring all execution audit requirements are met or exceeded. Monitor/reduce trade errors. Work with Compliance Officer to ensure adherence to all policies/procedures.
- Ensure strong collaboration with the Secondary Marketing Pricing Operations and Loan Delivery teams in establishing daily pricing strategy and delivering loans into securities. Active in daily maintenance of the mortgage best execution analysis and strategies.
- Supervise and give direction to the bank's other traders. Direct the actions of those responsible for pipeline trading as well as whole loan trading of CRA and Jumbo positions.
- Develop/maintain brokerage relationships and ensure optimal execution of all trades. Work with all brokers to ensure successful execution/settlement of all trades. Responsible for all trades from planning to execution to settlement. Provide guidance/expertise on block trade design/execution. Ensure strong collaboration with brokers to ensure alternative sources of market liquidity.
- Strong quantitative background and the ability to provide an in-depth understanding of modeling techniques and potential impacts of related assumptions and limitations. Leverage technical experience, providing analysis, supplying insights and identifying emerging risks and trends in a broader context including targeted reviews evaluating the soundness of firm's models, including the model risk control and model validation infrastructure, utilized to quantify risk for pricing, risk management, and regulatory capital.
- Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
- Bachelor's Degree is required preferably in Finance, Accounting or Statistics. Master's Degree in the same fields is preferred.
- 10 years of experience managing a Hedging & Trading desk
- Trading of mortgages and maintenance of mortgage position training is required
- Excellent written and verbal communication skills
- Strong mathematics and analytical skills
- Skills in utilizing spreadsheets, Business Intelligence Systems and Mortgage Pricing Software
- Strong decision making judgement skills and attention to details
- Strong quantitative background and the ability to provide an in-depth understanding of modeling techniques and potential impacts of related assumptions and limitations
- The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting