Director of Mortgage Capital Markets

M&T Bank • Williamsville, NY

1d • Hybrid

About The Position

The Director of Mortgage Capital Markets leads the execution of the bank’s secondary marketing strategy, including pricing, pipeline hedging, loan sales, investor delivery and MSR valuations. This role is accountable for managing interest rate risk, optimizing gain-on-sale performance, and ensuring best execution across agency, non-agency, and portfolio channels. The Director is also responsible for management and optimization of the residential mortgage portfolio, including portfolio performance, retention strategies, and alignment between held-for-investment and held-for-sale decisions. This leader partners closely with sales, operations, servicing, finance, and risk to align capital markets and portfolio strategy with overall mortgage business objectives. Ensures area of responsibility is managed in full compliance with Bank standards and applicable government and industry regulations. Oversee development of the annual plan for the area, including pricing, hedging, portfolio, and execution strategies, and represents the Bank with industry associations, government and regulatory bodies, investors, dealers, and counterparties, as appropriate.

Requirements

• Bachelor’s degree in business, Finance, Economics, or a related field, and a minimum of 17 years of broad-based banking experience inclusive of multiple businesses or a combination of business and support functions.
• In lieu of a degree, a combined minimum of 21 years of higher education and work experience is required, including a minimum of 17 years of broad-based banking experience inclusive of multiple businesses or a combination of business and support functions.
• A minimum of 8 years of proven, progressive managerial experience is also required.
• Ability to effectively manage a production operation and other support functions.
• Excellent communication and interpersonal skills.
• Knowledge of banking credit principles and banking and industry product offerings.
• Excellent presentation skills.
• Strong analytical and decision-making skills.
• Strong strategic planning skills.
• Proficiency with personal computers and relevant software packages.

Nice To Haves

• MBA, Advanced degree and/or significant expertise in mortgage capital markets, secondary marketing, or mortgage finance.
• Demonstrated expertise leading secondary market execution and investor delivery strategies across agency, portfolio retention, and approved third-party investor outlets.
• Strong working knowledge of pipeline hedging, MSR valuation, mortgage portfolio management, prepayment modeling, and capital markets regulatory expectations.

Responsibilities

• Develop and execute strategy across loan sales, securitization, portfolio retention, and investor delivery channels.
• Optimize best execution across agency, non-agency, and portfolio alternatives.
• Structure and negotiate loan sale transactions and investor agreements.
• Monitor market trends to inform pricing, product, and execution strategy.
• Manage interest rate exposure and minimize earnings volatility.
• Lead hedging strategy for mortgage pipeline (locks through delivery).
• Ensure hedge effectiveness and alignment to production volumes.
• Protect pipeline value and ensure optimal secondary market execution.
• Oversee performance and strategy of the residential mortgage portfolio (HFI/HFS).
• Evaluate retain vs. sell decisions to maximize long-term profitability.
• Partner with Servicing, Treasury, and Finance to optimize MSR value, earnings stability, and asset returns.
• Monitor portfolio performance, prepayment trends, and credit dynamics.
• Support capital allocation decisions tied to portfolio growth and risk appetite.
• Conduct residential and commercial MSR valuations for hedging purposes, including measuring the impact of prepayment speeds and rate volatility.
• Forecast cash-flow, pre-payments, delinquency and default modeling for most likely and stress testing rate environments.
• Oversee daily pricing strategy and rate sheet governance.
• Lead lock desk operations and margin management.
• Conduct best execution analysis across investors, securitization, and portfolio retention.
• Manage agency delivery.
• Oversee pooling and delivery.
• Maintain relationships with agencies (FNMA, FHLMC, GNMA) and private investors.
• Own key metrics including gain-on-sale, pull-through, portfolio returns, and hedge performance.
• Provide capital markets and portfolio insights, forecasts, and reporting to senior leadership.
• Partner with Finance on margin outlook, earnings impact, and capital allocation.
• Lead teams across lock desk, hedging/trading, delivery, and portfolio analytics functions.
• Establish performance standards, drive accountability, and develop talent.
• Improve operational efficiency, controls, and scalability.

Benefits

• The pay range for this position is $157,500.00 - $292,500.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

What This Job Offers

• Job Type: Full-time
• Career Level: Director