Secondary Market Operations Manager

BankNewport•Middletown, RI

9d•Hybrid

About The Position

Plans, coordinates, and supervises all secondary marketing activities. Oversees and coaches’ registration, post-closing and loan delivery staff on day-to-day operations

Requirements

Bachelors Degree or its equivalent in specialized course work and training. At least five years of first mortgage lending with an emphasis in secondary marketing. Strong understanding of secondary markets and pipeline management, guidelines and procedures for various investors, including FNMA, RIHMFC, FHA, VA and nongovernmental investors. Good analytical, organizational, communications, negotiation and technical skills.
Travel independently to the position’s primary work location, other bank properties and work-related activities or events at locations outside the Bank.
Effectively communicate and exchange accurate information and ideas so others will understand.
Independently 0perate a computer and other office machinery, such as a calculator, copy machine, printer and software programs related to the position needed to complete the primary functions.
Sit or stand at a workspace and use a computer or other equipment for prolonged periods of time.
Meet the hybrid work schedule requirements for physically working in the office during normal business hours on Mondays and Wednesdays and another day of choice to effectively meet business needs.
Move office items weighing up to 35 pounds.
Work in an environment with low to moderate noise levels.

Responsibilities

Oversee daily activities of subordinate staff. Conducts periodic performance reviews and makes hiring, salary and promotional recommendations. Provides training as needed.
Responsible for all secondary marketing activities, which include registration, selling, pricing, shipping, delivery, post-closing and wholesale lending. Ensures compliance with product, secondary marketing, and investor guidelines.
Monitors market interest rate risk. Provides operational support and timely information to determine interest rates of investor and portfolio products. Sells loans on the secondary market to balance risk with production in the mortgage production pipeline. Maintains adequate secondary market coverage.
Tracks all secondary market commitments throughout the loan process. Ensures closed and funded loans meet commitment dates. Monitors pipeline for fallout and pair offs.
Prepare ongoing reports on risk position, including Mark-to-Market and Position Reports, for finance, internal meetings and board meetings. Prepares weekly Rate Survey and other competitive products and pricing reports for Pricing Committee.
Monitors secondary market pricing and competitor rates to ensure BankNewport remains competitive while meeting internal profit guidelines.
Works with manager to administer Correspondent Lending Broker Lending Programs including pricing, manuals, forms, product guidelines and participates in sales calls as needed.
Keeps abreast of developments in residential lending. Ensures departmental operations are in compliance with applicable laws and regulations.
Work collaboratively with mortgage sales and operations staff. Provide direction and guidance on credit policy items and operating procedures.
Recommend and manage operational projects to improve processes and efficiencies and ensure we remain competitive with our product offerings and services
Assure compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
Communicates professionally in oral and written format with both internal and external customers