Director, Mortgage Servicing Rights Assets Management
About The Position
Responsible for the development, implementation, reporting, design, and oversight of our MSR asset management strategy. This person will work within our mortgage secondary/capital markets team, while also being connected to/reporting aligned with our corporate balance sheet/treasury group. The team is currently in the process of collaborating with key internal governance, stakeholders, and regulators to lay the initial foundation for our development of an MSR asset management strategy. This role will be instrumental in evaluating, owning, reporting, and executing on this strategy. This role will have leadership autonomy to make recommendations/changes and forward-looking strategic updates to our MSR asset management strategy.
Requirements
- Bachelor's Degree or equivalent Math, Science, Engineering, Business; MBA Preferred
- 10+ year executive with preferred experience in Mortgage Capital Markets
- 10+ Years MSR Portfolio Manager at peer bank or IMB.
- Secondary Marketing pipeline risk management and MBS trading experience.
- Mortgage Servicing Right Hedge P&L and financial forecasting responsibility.
- Mortgage Servicing Right purchase and sales (including M&A)
- Excess IO Securitization
Nice To Haves
- Experience under both LOCOM and FV methods (ideally managing a transition).
- Ability to educate and influence senior leaders and stakeholders on the benefits of various MSR recommendations and strategies.
- Expert knowledge of QRM framework.
- Established relationships with MSR Brokers.
Responsibilities
- Development of initial MSR assumptions aligned with overall strategy, internal economics, and MSR market pricing.
- Leveraging QRM MB / QRM ALM / QRM SV frameworks and models
- Retaining vs. Released strategies
- Optimization of origination sales / channels and lines of business retention strategies
- GAAP FVO vs. LOCOM (amortized costs) approach evaluation in connection with secondary marketings trading/hedging and selling strategies.
- BASEL capital modeling in current and future state stress scenarios
- Working closely with accounting/controllership groups both for GAAP and IFRS implications
- Initial proforma results of financial statement impacts, EVE, EaR, NIIS, VaR, and DV01/KRDs
- Ongoing calibration and modeling/valuation of updates/changes
- Design/implementation and execution of both passive and active hedging strategies
- Design/implementation of effective governance and operational risk management framework in conjunction with CNB Risk Org and Controllers.
- Upon development, testing, approval, and implementation … this role will be an active portfolio manager with a team to be built.
- Unconstrained ability to evaluate opportunities for growth, diversification, yield enhancement, credit mitigation, and duration/convexity management.
- RBC, RBCCM, CNB, and RBC USWM, their brands, teams, and engagement will be highly sought after for further optimization strategies and platforms/processes.
- Ability to eventually access both public/private markets for private label structured strategies … base, excess, flat fee, debt for tax, capital relief etc.
- Responsible for daily/weekly/hourly/monthly/quarter pricing and valuation for both OMSR/PMSR and pipeline MSR evaluations
- Model owner and responsible party/group for QRM SV
Benefits
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Director
Number of Employees
1,001-5,000 employees
