Saturday, August 21, 2010

Senior Trader

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Employment Type: Regular Full/Part Time: Full-time Division: Division Mortgage

Job Description: GENERAL FUNCTION: Responsible for the pricing, sale, and hedging of agency, whole, and portfolio loans in accordance with corporate objectives. ESSENTIAL DUTIES & RESPONSIBILITIES: * Analyze markets and position reports in order to make trading decisions. * Maintain position within FTMC trading policy limits with daily trading activity. * Ensure position reports are accurate and represent product that should be hedged. * Perform best execution analysis and take action to achieve optimal results, directing the shipping area. * Develop and maintain department procedures, ensuring procedures are appropriate and being followed. * Oversee rate sheet preparation and distribution, ensuring accuracy and timeliness. * Implement and maintain QRM risk management system. * Develop and train trading staff. * Identify and implement processes to improve results including electronic trading and specified pooling. * Forecast and report actual monthly gain/loss schedules. * Back-up Whole Loan Trader when required. * Responsible for mark to market of pipeline and hedge positions. * Maintain relationships with Wall Street dealers and investors. * Aid in product development and cross-sell efforts. * Coordinate whole loan package cross-sell through Fifth Third institutional sales group. SUPERVISORY RESPONSIBILITIES: Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

Requirements MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED: * Four-year college degree in Business, Finance, or related field preferred. * Five (5) or more years experience in Mortgage Banking and/or finance in loan brokerage and trading. * Knowledge of Mortgage Banking and/or lending practices and extensive knowledge of secondary mortgage market requirements including BMA guidelines, agency and other investor guidelines. * Strong background in fixed income and derivative products including options. * Detail orientation, effective communication skills, good analytic abilities, and experience with integrated software applications such as Microsoft Office.

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