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Capital Markets Mortgage Hybrid Execution Trader

Company: Citizens
Location: Glen Allen
Posted on: November 25, 2022

Job Description:

Description Responsible for executing both the acquisition and liquidation of mortgage loans within Capital Markets, the Mortgage Execution Trader is relied upon to support originations strategies, supplement production volume, and facilitate whole loan/flow MSR purchases by efficiently and accurately bidding client loan tapes while ensuring successful downstream loan registration. Capital Markets will also look to this individual to help build mandatory bulk trading analytics and observe and opine on relevant trends in volume/hit rates. The Execution Trader will also be responsible for liquidating loans from the Citizen's mortgage pipeline by selling securitized agency collateral into the secondary market via broker-dealer intermediaries, and whole loans to potential aggregators as strategy dictates. Like this role's loan acquisition responsibilities, Capital Markets will look to this individual to assist in producing analytics ranging from specified payup sensitivities to pool sales profit and loss attributions, and enhance processes that facilitate forward-sale hedge management, MBS BWIC execution etc. This role will work directly with pipeline hedging traders and the QRM model analytics team daily. While a comprehensive understanding of pipeline risk management is not required, this individual will have ample opportunity to absorb in-depth knowledge of the various elements and strategies involved in successfully managing a multi-channel mortgage originations pipeline using a variety of instruments. It is expected that this exposure will lay the groundwork for the Execution Trader to cover pipeline hedging on an as-needed basis in the future. Qualifications Minimum Required:

  • 3+ years of direct mortgage banking experience focusing on bulk mandatory trading and/or agency MBS pool sales.
  • Knowledge of Capital Markets within the mortgage banking entity required. Preferred:
    • Experience building processes and analytics using VBA and/or Python
    • Experience with light statistical modelling and manipulation of large datasets
    • Prior exposure to pipeline hedging
    • Basic understanding of duration/convexity dynamics
    • Thorough understanding of correspondent bulk mandatory market pricing
    • Thorough understanding of correspondent bulk mandatory bid process
    • Thorough understanding of dynamics impacting successful bulk mandatory loan acquisition
    • Comprehensive familiarity with agency MBS and cashflows/valuation dynamics
    • General familiarity with mortgage pipeline risk dynamics
    • Basic familiarity with mortgage banking business strategies
    • Must be able to execute efficiently and accurately under pressure in a live market environment
    • Proven ability to build mortgage analytics that help explain profitability, collateral composition, strategy impacts etc.
    • Expert Excel skill set required. Advanced SQL and Tableau skill sets preferred. Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.Why Work for UsAt Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.Equal Employment OpportunityCitizens, its parent, subsidiaries, and related companies provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability or perceived disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.Equal Employment and Opportunity Employer/Disabled/VeteranCitizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates.

Keywords: Citizens, Richmond , Capital Markets Mortgage Hybrid Execution Trader, Accounting, Auditing , Glen Allen, Virginia

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