Saturday, August 22, 2009

Director, Mortgage Trader

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Description

Share our pride. Join our mission.

As a Fortune 200 financial services company with more than $113.5 billion in owned and managed assets, USAA is on a mission — to facilitate the financial security of our members, the men and women of the U.S. military and their families worldwide. Headquartered on a showcase campus in San Antonio, TX, USAA attributes its long-standing success to its most valuable resource, our 22,000 employees. They are the heart and soul of our member-service culture.

Recently Ranked #1 by Business Week in Customer Service, we are recognized for the superior service we provide to our members, and the exemplary work environment we provide for our employees. Everything that happens at USAA is based on our core values: Service, Loyalty, Honesty, and Integrity. These are the foundations of how we do business with our members, as well as how we treat each other.

We are currently seeking a talented Director, Mortgage Trader for our San Antonio, TX facility.

Purpose of Job:

* You will be responsible for directing the mortgage pipeline, warehouse risk management and secondary market loan sale executions and settlements. You will ensure the company accurately executes secondary market interest rate and price risk hedging and hedge related procedures. You will ensure tight coordination with cross functional mortgage fulfillment functions. You will report to ED of Secondary Marketing and maintain compliance with policies, procedures and regulatory requirements.

Job Duties:

* Selects, develops, and supports employees, and provides coaching and feedback that leads to sound business results. Manages employee performance and facilitates professional development of staff.
* Develops, implements, maintains and monitors policies and processes to ensure the attainment of business goals and objectives and identifies opportunities to improve operational effectiveness.
* Directs the sale of mortgages to secondary market investors. Develops and applies fallout profiles consistent with the pipeline behavior; oversees policies and procedures to control rate lock and price risks.
* Oversees and ensures that the best execution is reflected in pricing models; identifies best execution for sale of mortgage loans, including evaluation of mandatory, best efforts, whole loan, MBS (agency and private label), servicing retained and servicing released.
* Has daily interaction with secondary marketing leadership to confirm trading strategy, reviews market performance, and ensures the continuance of good relations with established investors; regularly provides insight into mortgage and market interest rates and has tight coordination with the real estate fulfillment functions.
* Maintains comprehensive knowledge of products and services and regulatory requirements; ensures that all secondary market operations are carried out in compliance with applicable regulations.

Minimum Requirements:

* Bachelor's degree or equivalent work experience.
* 8+ years of relevant experience.
* 4+ years in hedging mortgage origination pipeline experience with secondary marketing risk management systems.
* Experience with AOT, MBS, and cash sales.
* Comprehensive knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
* Comprehensive knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
* Extensive relationships with participants in the secondary mortgage markets.
* Excellent writing/verbal communication, analytical, and organizational skills.

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 packages in the business, including business 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.

Qualified applicants must successfully complete a pre-employment background and drug screen.

USAA is an Equal Opportunity/Affirmative Action Employer.

Requirements

Minimum Requirements:

* Bachelor's degree or equivalent work experience.
* 8+ years of relevant experience.
* 4+ years in hedging mortgage origination pipeline experience with secondary marketing risk management systems.
* Experience with AOT, MBS, and cash sales.
* Comprehensive knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
* Comprehensive knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
* Extensive relationships with participants in the secondary mortgage markets.
* Excellent writing/verbal communication, analytical, and organizational skills.

Apply for Job Here

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