Director - Capital Markets

Sandy Spring Bank • Olney, MD

373d • $150,000 - $225,000

About The Position

Sandy Spring Bank is hiring for a Director for Capital Markets. This person is responsible for managing the Mortgage Division's Capital Markets, Product Development, Post-Closing, Finance, Consumer Product, and Pricing functions. Key responsibilities include pricing loan products, structuring sales transactions consistent with acceptable profit and risk objectives, and developing and maintaining investor and broker dealer relationships to ensure the sale of company's loans. Responsible for pricing structures and determining / developing future consumer loan products to order to achieve the desired investor base, product coverage, portfolio mix, and pricing to meet company objectives. Directs budget and cost controls, financial analysis, and accounting practices and reports. Analyzes and interprets financial data and recommends changes to improve financial performance. Conducts general business planning. Responsible for ensuring a robust risk and control framework is maintained across Capital Markets and Accounting Functions.

Requirements

• Position requires the equivalent of a bachelor's degree in a job-related field with at least 10 years of experience in mortgage banking and financial services.
• Strong organizational skills and aptitude for math required.
• Supervisory experience or a demonstrated ability to supervise required.
• Master's Degree in Finance or a related field is preferred.
• Advanced computer skills needed to maintain computerized tracking systems.
• Experience using spreadsheet, database, and word processing programs required.
• Advanced computer problem solving skills required to find solutions to problems that are technically complex.
• Must be able to organize and prioritize work in order to meet scheduled deadlines.
• Accuracy and attention to details are required.
• Good interpersonal skills are needed which include the use of sensible judgment, tact, and persuasion.
• Work is under minimal supervision where independent judgment is required.

Responsibilities

• Coordinates all residential capital markets functions and staff for the Consumer Lending Division.
• Ensures that capital markets strategies are executed in a timely and efficient manner to meet the philosophy and profitability goals as determined by executive management.
• Manages pipeline interest rate risk through a TBA MBS hedging program.
• Analyzes market conditions and develops a loan sale strategy utilizing a diverse execution strategy to maximize profitability.
• Executes balance sheet optimization strategies through private whole loan bulk sales of bank portfolio product.
• Analyzes bond market daily and keeps up with the daily economic news, indicators, and any new advances in mortgage banking.
• Creates and manages a valuation program for Mortgage Servicing Rights (MSR).
• Recommends and executes MSR hedging strategies as appropriate.
• Maintains a positive posture to the needs of our production network by providing competitive loan products and prices.
• Develops a robust set of Policies and Procedures which govern all Capital Markets and MSR functions in compliance with Federal and State Laws and Regulations.
• Maintains positive relationships with the Divisions Capital Markets counterparties.
• Coordinates major project initiatives across the Consumer Lending Division.
• Manages the creation and implementation of new workflows as well as implementation and onboarding of new vendors.
• Responsible for the management of the post-closing staff.
• Ensures loans are booked, shipped, purchased, and insured in a timely and efficient manner.
• Identifies loan defects and coordinates with appropriate department heads to ensure loan salability on the secondary market.
• Conducts exception negotiations with investors when a defect is not able to be cured in an attempt to have the loan purchased.
• Oversees all Division accounting practices, including accounting department, account reconciliations, preparing budgets, and financial reports.
• Directs Division financial strategy, planning, and forecasts.
• Responsible for the management and development of the Division's Correspondent Lending channel.
• Serves as Relationship Manager for existing Correspondent clients as well as responsible for new business development.
• Manages correspondent loan pipeline and resolves client problems through the engagement of outside departments.
• Responsible for setting the rates for SSB Portfolio product (Residential, Home Equity, Consumer, and Small Business) with the profitability goals as defined by senior management and Treasury.
• Performs market surveys to ensure that portfolio products are priced competitively.
• Represents Consumer Lending on and communicates pricing strategy to the Loan Rate and Strategy Committee.
• Proactively identifies product needs and seeks to develop both new Secondary Market and Portfolio loan products.
• Engages with senior bank leaders to ensure newly developed products meet the credit, operations, reputational, and interest rate risk appetite for the bank.
• Works with corporate partners to develop business intelligence and analytical processes which provide greater clarity on the Division's operations, efficiency, and profitability.
• Actively participates as a part of the management team in development of budgets, strategic plans, and stakeholder's models as well as in general management problem solving activities.
• Provides routine coaching, training and assistance for direct reports to develop knowledge, skills, and abilities to maximize performance and potential.
• Documents performance and completes performance review forms in a timely manner.
• Responsible for managing the Divisions model risk management program in accordance with regulatory requirements and corporate policy.

Benefits

• Comprehensive benefits package for those who qualify.
• Competitive market salaries.
• Paid time off.
• Multiple retirement savings options.
• Full health care options.
• Life insurance.
• Health care and dependent care flexible spending accounts.
• Career development opportunities.
• Tuition assistance.
• Volunteer opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 501-1,000 employees