Saturday, July 18, 2009

MBS Trader

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Employment Type: Regular

Full/Part Time: Full-time

Division: Division Mortgage

Job Description: GENERAL FUNCTION: This position is responsible for pricing, sale, and hedging of agency loans in accordance with Corporate objectives. ESSENTIAL DUTIES & RESPONSIBILITIES: * Responsible for understanding and following all Trading and Pricing policies. * Analyzes product pricing to determine each product's execution. Sets daily prices in accordance with corporate objective. * Understanding of all aspects of pricing and the rate sheet model ensuring products are priced in accordance with market prices and company policies. * Conducts pricing comparisons and understand the market environment providing feedback to management on 5/3 pricing relative to competitors. * Analyzes position reports to ensure accuracy and maintain position within FTMC trading policy limits with daily trading activity. * Analyzes market conditions, formulate strategies and execute trades to achieve best execution. * Backs-up Whole loan trader when required. * Responsible for mark to market of pipeline and hedge positions. * Maintains relationships with Wall Street dealers and investors. * Performs best execution analysis and take action to achieve optimal results. * Forecasts profitability and prepares gain/loss schedules and mark to market schedules. SUPERVISORY RESPONSIBILITIES: Provide direction to less experienced staff.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED: * Bachelors Degree in Business, Finance, Accounting, or Economics or equivalent work experience. * Minimum 3 years experience in mortgage banking or capital markets with strong preference for secondary marketing background. * Experience with integrated software applications, such as Microsoft Office. * Knowledge of mortgage banking and MBS markets. * Knowledge of secondary mortgage market and investor requirements. * Detail oriented effective communications * Good analytic abilities * Experience with integrated software applications, such as Microsoft Office.

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