- This senior executive should have a minimum of 10 years proven experience in managing a residential mortgage secondary/capital markets department. Experience at a sophisticated bank-owned mortgage company is a plus. Demonstrated experience managing a trading desk is obviously very important.
- This individual must have a very strong knowledge-base of FNMA, FHLMC and GNMA secondary marketing guidelines, particularly new regulations and policies developed over the last few years. Knowledge of Dodd-Frank is important.
- Proven project management background is relevant to this job.
- Must be comfortable in a collaborative, hands-on management style environment yet able to confidently make appropriate and decisive decisions.
- Bachelor's degree in business administration or equivalent experience. MBA is a plus.
The Senior Vice President, Secondary Marketing directs the secondary functions of the residential mortgage division of the bank to ensure efficient sales of mortgage loans not maintained in the Banks' investment portfolio. In addition, the position oversees the management of targeted mortgage/capital markets related projects as assigned by the head of the mortgage division, including daily, weekly and monthly reporting on key financial indicators and trends. This position is considered integral to the senior management group and is expected to participate in developing the overall growth and business strategy of the mortgage business and the company as a whole. The person we are seeking is a hands-on manager who can work in most capacities within the department if necessary from time to time.
- Develops and executes appropriate secondary/capital markets strategies to sell non-portfolio residential loans to private investors and quasi-government agencies including Fannie Mae, Freddie Mac and Ginnie Mae. Generally, the hedging strategies are matched hedging strategies with the agencies that are risk averse and comply with the risk tolerance objectives of the bank. Anything outside of that strategy needs approval from the head of the mortgage banking division.
- Develops and initiates targeted marketing presentations for investors; the presentations will be aligned with the product needs of the mortgage sales team and their customers. A continuous dialogue between sales, operations and legal is an important component to the job, specifically as it relates to the development of new product initiatives.
- This position is the primary contact with the Agencies (FNMA, etc.) and therefore strong relationship management skills are necessary.
- Manages the pricing and hedging desk to achieve targeted profits on loan sales and to protect the active pipeline from unnecessary risk. This will include the development of appropriate analytical models that will provide relevant statistics for thoughtful and risk-appropriate secondary marketing/capital markets management.
- Set daily rates for mortgage product; also works closely with the Bank's Treasurer managing and pricing portfolio product.
- Ensures accuracy and timely delivery of loan packages and securities that are being sold.
- This position will be responsible for making sure that the various systems and technology used to hedge and manage loans is current and best-in-class. If changes or additions need to be made, it is important that this individual work collaboratively with the business unit manager and the systems department to correct add or develop appropriate technology that addresses the banks' needs.
- This position is responsible for making sure that the current staff is appropriate for the volume and level of service required to manage the mortgage volume. This person is also responsible for appropriate training, on-going performance reviews and other staffing requirements of the secondary marketing team.
- This person will oversee the daily, weekly and monthly business-wide reporting functions, including but not limited to production, commissions, profitability, risk and control management, cross-selling, portfolio performance and other key performance indicators (KPI's).
First Niagara - 17 months ago
A lot of water and a few barrels have gone over Niagara Falls since First Niagara Bank was founded. Tracing its roots to 1870, the flagship...