Mortgage Trader Senior - Sensitive Profile

USAA•San Antonio, TX

21h•Hybrid

About The Position

USAA is seeking a Mortgage Hedging Operations Analyst to join their team. This role involves working with various internal teams such as Hedging, Servicing Valuation, Loan Delivery, Pricing, Lock Desk, and Product Development. The analyst will support model maintenance within CompassPoint, including valuation, hedging, and pricing, as well as GSE loan data extracts. Key responsibilities include running pricing, pool optimizer, and reporting, covering for the Lead Trader, and managing projects for setting up new counterparties, products, valuations, ULDD and PDD extracts, and tools within CompassPoint. The role also requires significant contribution to enhancing the current CompassPoint design and processes for trade input, allocations, pricing, bond settlement instructions, and GSE data extracts. The position is responsible for implementing secondary marketing interest rate risk hedging and related mortgage hedging processes, conducting data analysis for mortgage pipeline activities, warehouse risk management, and secondary marketing loan sale executions/data delivery and settlements. Collaboration with cross-functional areas is essential to fulfill hedging activities and transactions, ensuring compliance with regulatory policies and accounting principles. The company offers a flexible work environment requiring 4 days in the office per week, located in San Antonio, TX, with relocation assistance available.

Requirements

Bachelor's degree in Finance, Economics, or a related field required (4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree).
Minimum 6 years’ experience in hedging mortgage origination pipelines with secondary marketing risk management systems.
Advanced experience with AOT, MBS, and cash sales.
Advanced knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
Advanced knowledge and application of generally accepted accounting principles applicable to the mortgage and banking industry.
Established relationships with participants in the secondary mortgage markets.
Experience developing mortgage pricing models.
Strong knowledge and application of federal mortgage lending regulations and compliance.

Nice To Haves

Mortgage Secondary Marketing Experience: Proven ability to manage mortgage pipelines, price loans, and execute sales to investors.
Experienced with pull-through study processes and familiarity with USAA operational process flows for categorizing pull-through stages.
Working Experience with CompassPoint: Deep familiarity with USAA data mappings for the Pipeline Warehouse File import, and import error resolutions
Experienced in utilizing CompassPoint for GSE data extract mappings, data import tasks, data import audit calculations, and valuation tasks
Proficient in problem solving reporting issues within CompassPoint and resolving in a timely manner.
Demonstrated ability to produce ULDD and PDD extracts. This involves ensuring data accuracy, standardization, and compliance with GSE requirements for loan deliveries.
Experience with ULDD phases (e.g., Phase 4a, Phase 5) demonstrates an ability to adapt to evolving data standards and system updates.
Mortgage Trading Experience: Understanding of mortgage-backed securities (MBS) transactions, back-office trade QC, trade related risk and controls
Advanced Excel, SQL, Access or Other Database Skills: Proficient in SQL for complex financial data analysis, query writing, and data manipulation.
Advanced Excel skills for financial modeling, data analysis, and reporting.

Responsibilities

Apply advanced knowledge to trade mortgage-backed securities and/or interest rate risk of rate locks for mortgage loans in the pipeline and warehouse.
Under minimal supervision, apply advanced knowledge to execute complex interest rate risk hedging and hedge related procedures.
Independently administer best execution for sale of mortgage loans, including evaluation of mandatory, best efforts, whole loans, MBS (agency and private label), servicing retained, and servicing released.
Provide support and assistance with oversight and execution of complete real estate interest rate pricing models.
Monitor and make recommendations for improvements to trading and hedging policies and processes that ensure the attainment of business goals and objectives.
Assist in the development, implementation and maintenance of these policies and processes.
Proactively identify opportunities and make recommendations to improve operational effectiveness for trading and hedging function and is accountable for results.
Frequently meet with senior finance and business executives to provide USAA's position for hedge review results and trading exposures.
Make recommendations for potential changes to trading and hedging strategy and modeling assumptions.
Maintain advanced knowledge of products and services and regulatory requirements.
Ensure all secondary market operations are carried out in compliance with applicable procedures, guidelines and regulations.
Conduct analysis of risk, development of hedge strategies, and execution of transactions to mitigate exposure deriving from mortgage servicing rights or other balance sheet elements.
Identify data trends and make recommendations to management.
Provide guidance and/or on the job training to less experienced coworkers and serve as a resource to team members on escalated issues of a complex nature.