Location
Annapolis, MD | United States
Job description
Shore United Bank is seeking a VP, Capital Markets Manager to join our team. The Capital Markets Manager is responsible for the continuous development of product and pricing for the Residential Mortgage division in alignment with the growth strategies of Shore United Bank. This position is accountable for the oversight and management of the Held for Sale (HFS) pipeline, inclusive of the interest rate risk management, lock desk, investor delivery, post-closing, and quality control functions related to selling loans. Additionally, this role oversees the mortgage servicing asset valuation and works closely with the Credit Administration department on portfolio originations. This position is located in Annapolis, MD.
Essential Functions:
- Manage the day to day interest rate risk of the HFS pipeline ensuring the position is covered within policy limits
- Execute daily trades within policy limits
- Manage Lock Desk ensuring Bank policies and fair lending guidelines are adhered to for HFI and HFS loans
- Maintain product & pricing engine guidelines and approved margins for portfolio and HFS products
- Allocate loans to trades/pools ensuring eligibility, best execution, and adherence to Agency/Investor guidelines
- Manage loan delivery via Best Effort, Mandatory, Bulk Sales, AOT, and MBS executions
- Facilitate all trade settlements, pair offs, and loan settlements
- Review and approve purchase schedules
- Manage post-closing and quality control to ensure loans comply with all Bank, FNMA/FHLMNC, HUD/FHA, VA, USDA and state housing guidelines
- Responsible for oversight of insuring activates related to state housing, FHA/VA/USDA
- Prepare monthly derivative analysis and entries
- Prepare monthly Mortgage Service Rights (MSR) portfolio file for valuation
- Prepare MSR change in value entries and maintain MSR roll forward
- Responsible for monthly reconciliations of derivatives, pair-offs, gain on sale, roll forward, MSR valuations, etc.
- Lead the Secondary Marketing Committee
- Responsible for daily/monthly risk position reporting and analysis on open pipeline
- Responsible for various reporting packages required on monthly/quarterly basis
- Maintain and build MS Report Builder / SQL based reporting for division
- Maintain all policies and procedures for the division
- Work with internal counterparts ensuring a full understanding of activities within department
- Establish and maintain annual certification with all counterparty relationships inclusive of Agencies, private investors, broker/dealers, etc.
- Act as back up to LOS Administrator
Position Type/Expected Hours of Work:
- This is a full-time, exempt position, Monday through Friday.
Required Education and Experience:
- A minimum of seven to 10 years of experience in Capital Markets required with TBA trading
- Four-year degree in business or equivalent business experience
- Proficient with Best Effort, Mandatory, Bulk Sales, AOT, and MBS deliveries
- Understanding of Mortgage Servicing Asset management
- Expert knowledge of Agency guideline FNMA/FHLMC/FHA/VA/USDA
- Has broad understanding of Private Non-Conforming and Non-QM Products
Company Benefits:
- Join a family and community-oriented workplace that offers a team environment, along with a collaborative and friendly place to work
- Comprehensive benefits package including health, dental, vision, short-term and long-term disability, long-term care insurance, company paid life insurance, and much more!
- Paid parental leave
- 401k savings plan with up to a 4% company match
- Employee perks such as: employee banking services, loan discount program, tuition reimbursement, career development program, Employee Assistance Program, and wellness initiatives.
- Opportunity for growth and advancement
- Paid training program and continuous training sessions throughout the year on various topics
- Generous paid time off and paid sick time
- Community involvement opportunities
Shore United Bank is a full-service community bank with a rich history dating back to 1876. In excess of $6 billion in assets, we offer innovative financial services delivered with the personal touch you expect from a community bank. We serve a broad geographic area with branches in Maryland, Delaware, and Virginia, and we also provide a comprehensive suite of digital banking services that allow you to bank with us no matter where life takes you.
In addition to banking, we offer trust and wealth management services through Wye Financial & Trust, a division of Shore United Bank. Together, our team of experienced professionals is dedicated to helping you achieve your financial goals.
Shore United Bank: Good things are happening here. ®
Shore United Bank is an Affirmative Action/Equal Opportunity Employer. Shore United Bank is an E-Verify participant.
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