Head of Diligence, Transaction Management and Non-Financial Risk – Whole Loans Trading - Director

Deutsche Bank • New York, NY

2d • $223,750 - $300,000 • Hybrid

About The Position

You will be responsible for leading and overseeing the Diligence, Transaction Management and Non-Financial Risk (NFR) team in New York for the Whole Loans Trading business within Deutsche Bank’s Investment Bank – Fixed Income & Currencies (FIC) division. FIC comprises Trading, Financing and Sales / Coverage units. FIC Americas Trading includes business units such as Global Rates, Global Foreign Exchange, Global Emerging Markets and Credit Trading. Financing includes business units such as Commercial Real Estate (CRE), Asset Backed Securities (ABS) and Private Credit & Infrastructure (PCI). The Whole Loans Diligence, Transaction Management and NFR team will be responsible for all aspects of diligence, transaction management and non-financial risk for the Whole Loans Trading business.

Requirements

• Previous experience in Whole Loans Trading relevant roles either on the buy/sell side, or at an originator or servicer
• Strong knowledge of Residential Mortgages space, particularly: Non-Agency mortgage loans, Non-Agency mortgage loan underwriting guidelines, The operations of independent mortgage banks, The functions performed by mortgage loan document custodians, third-party due diligence firms and residential mortgage loan servicers
• Contract finance (non-disclosure agreements, mortgage loan purchase agreements, trade confirmations and bid stipulations, bills of sale, warehouse lender lien release letters, collateral release letters)
• Bailee letters, trust receipts, exception reports, inventory reports
• Due diligence reports (credit, compliance, value, data, title, modification, pay history and collector comments)
• Mortgage loan schedules
• Funding memos
• Repurchase requests, early payment default and premium recapture
• Servicing transfers, 404 notices, hello / goodbye letters
• Loss mitigation processes
• Servicer reporting and remittances
• Whole loan sales
• Rated and unrated securitizations
• Securitization documentation including private placement memorandums, trust agreements, indentures, note purchase agreements
• ASF data tapes
• 17G filings
• Strong project management experience
• Excellent interpersonal and presentation skills; ability to constructively influence and advise key stakeholders
• Strong problem solving and critical thinking
• Ability to lead, as well as collaboratively drive consensus and change
• Self-starter; ability to work autonomously where needed
• Ability to work in a dynamic, fast-paced and high-pressure environment
• Microsoft Excel fluency, a must
• Strong Microsoft PowerPoint skills, a must

Nice To Haves

• Experience with other analytical tools such as Tableau, Alteryx, Python, etc., a plus

Responsibilities

• Develop, implement and oversee the Whole Loans Trading Diligence program, including: Counterparty diligence, Engaging, onboarding and evaluating third party counterparty diligence firms, Working with third party firms to develop testing protocols and scripts for counterparty diligence reviews, In coordination with third party diligence firms, perform counterparty diligence reviews to develop independent recommendations to management regarding counterparty suitability and business selection, Loan-level diligence, Engaging, onboarding and evaluating third party loan-level diligence providers, Evaluating the third-party loan-level diligence provider testing protocols for suitability, Overseeing loan-level diligence for all loan purchases including compliance, credit, collateral and valuation, Working with the desk to evaluate and manage any loan-level diligence exceptions identified, Servicer diligence, Engaging, onboarding and evaluating third party servicers, Evaluating third-party servicer governance, policies, procedures and controls for suitability (including compliance with applicable laws, rules and regulations), Overseeing servicer diligence prior to engagement and on an ongoing basis, Working with the desk and the servicer on an ongoing basis in response to any real-time loan-level issues, Vendor engagement, diligence and oversight Rating agencies, Counterparty diligence providers, Loan-level diligence providers, Servicers, Custodians
• Partner with the desk on Transaction Management lifecycle processes, including: Pre-bid and post-bid diligence, Agreement drafting and negotiations, Transaction agreement reviews, Settlement management and post-settlement processes, Day-to-day servicer oversight, particularly on loss mitigation issues, Securitization eligibility analysis, Management of collateral curative programs
• Develop, implement and oversee the Whole Loans Trading Non-Financial Risk program, covering loan acquisition, warehouse risk and securitization activity, with responsibility for governance, controls and execution across consumer and securities compliance as well as legal and reputational risk, including but not limited to: Consumer and asset-level (including FRB Regulation Z, Fair Housing Act); Securitization and capital markets (including SEC Rule 10b-5 Antifraud, pool construction governance and Reps & Warrants framework considerations); and Legal, reputational and franchise risk management
• Partner with Chief Operating Officer (COO) and the desk on key governance forums, including the Whole Loans Trading Oversight Forum (WLTOF) and ABS New Issue Approval Committee (NIAC)
• Partner with the desk and COO to develop, manage and improve the Whole Loans Trading technology and infrastructure front-to-back stack on an ongoing basis, including: Counterparty onboarding, Counterparty, underlying borrower, product and trade reference data, Transaction capture, Risk and Profit & Loss Reporting obligations
• Drive Whole Loans Trading change-the-bank program to completion in preparation for Day 1 trading
• Support other aspects of the day-to-day activities for the Whole Loans Trading business
• Drive and support transformation, remediation and change management activities across business growth initiatives as well as financial risk / non-financial risk domains
• Prepare and deliver presentations covering risk profile and operating metrics
• Identify process improvement opportunities; drive and support process improvement initiatives
• Utilize analytical tools and soft skills to problem solve and influence across the full spectrum of business challenges
• Participate in governance fora as a representative of the Business
• Partner with Business Control Unit, Divisional Control Office and second line / infrastructure function colleagues to perform risk assessment and monitoring of non-financial risks, as well as manage and remediate the Business’s portfolio of findings (including regulatory findings, self-identified issues, Group Audit findings and Compliance findings)
• Partner with Compliance, Anti-Financial Crime, Legal and other functions to anticipate and respond to regulatory inquiries or requests, including participation in regulator meetings
• Work closely with Regulators, Group Audit, Compliance Testing, etc. in connection with internal or external exams, testing or other inquiries
• React under pressure in real-time to manage and help the Business navigate crisis events or other financial / non-financial risk events
• Continuously monitor and seek to enhance the Business’s operational resilience profile through partnership with Regional Management, Technology, Facilities, Third Party Risk Management, Non-Financial Risk Management, Compliance, Facilities and other functions
• Engage on Know Your Customer and other Client Onboarding matters where needed, in parallel with broader client perimeter growth or reduction initiatives aligned with business strategy; maintain understanding of the Business’s client perimeter
• Partner with Operations on middle and back office process enhancement opportunities; address real-time issues where needed

Benefits

• We offer competitive health and wellness benefits, empowering you to value life in and out of the office
• Retirement Savings Plans, Parental Leave, and other family-friendly programs
• On-site cafeteria, health center, and communal meeting areas
• Active engagement with the local community through Deutsche Bank’s specialized employee groups

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees