Secondary Pricing Manager, Sr

Old National Bank•Evansville, IN

23h

About The Position

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Requirements

Bachelor's degree in Finance, Economics, Business Administration, or a related quantitative field
Minimum 10 years of progressive mortgage banking experience with at least 5 years in secondary market pricing, hedging, or capital markets roles.
Demonstrated expertise in secondary mortgage market mechanics, including GSE and Ginnie Mae seller/servicer requirements.
Hands-on experience with mortgage pipeline hedging strategies (TBA, options, mandatory vs. best-efforts) and risk management platforms (e.g., Optimal Blue, Black Knight, CompassPoint, or equivalent).
Deep knowledge of loan-level price adjustments (LLPAs), agency guidelines, and whole loan execution.
Experience with mortgage servicing rights (MSR) valuation and retained servicing strategies.
Strong financial modeling skills; proficiency in Excel and working knowledge of pricing/analytics systems.
Track record of managing investor relationships and leading loan delivery/execution functions.
Thorough understanding of relevant regulatory requirements, including RESPA, TRID, and agency seller/servicer guides.

Nice To Haves

MBA or advanced degree preferred.
CFA, CMB (Certified Mortgage Banker), or equivalent professional designation preferred.

Responsibilities

Develop, manage, and continuously refine the bank's secondary mortgage pricing engine, including rate sheet production and real-time pricing adjustments.
Monitor agency (FNMA, FHLMC, GNMA) and whole loan markets to optimize loan sale pricing and execution strategy.
Oversee best execution analysis, including TBA (To-Be-Announced) hedging, mandatory delivery commitments, and best-efforts loan sales.
Manage pricing adjustments for loan-level price adjustments (LLPAs), overlays, and product-specific margin decisions.
Collaborate with mortgage and community lending leadership to design competitive pricing that grows origination volume without sacrificing margin.
Oversee the mortgage pipeline hedging program to mitigate interest rate risk, including fallout-adjusted hedge ratios and hedge execution.
Monitor daily mortgage pipeline exposure, mark-to-market valuations, and hedging P&L.
Partner with Treasury and Finance to align secondary market hedging with the bank's broader asset/liability management framework.
Ensure compliance with hedge accounting policies under GAAP (ASC 815) as applicable.
Manage relationships with GSE counterparties (Fannie Mae, Freddie Mac), Ginnie Mae, and approved whole loan investors.
Oversee the timely and accurate delivery of mortgage loans to investors, ensuring compliance with seller/servicer guides and contractual obligations.
Negotiate investor pricing, execution terms, and delivery windows to maximize loan sale revenue.
Monitor repurchase and make-whole demands; develop strategies to minimize put-back risk.
Produce and present regular reporting on secondary market performance, pricing margins, hedge effectiveness, and gain-on-sale results to senior leadership.
Build and maintain secondary market financial models, including pricing analytics, profitability forecasting, and scenario analysis.
Establish and enforce secondary market policies, procedures, and internal controls in accordance with regulatory requirements and investor guidelines.
Lead preparation for internal and external audits, regulatory examinations, and model risk reviews related to secondary market operations.
Lead, mentor, and develop a team of secondary market analysts and pricing specialists.
Establish performance goals, provide coaching, and foster a culture of accuracy, accountability, and continuous improvement.
Drive systems and process improvement initiatives to enhance efficiency, reduce operational risk, and support business growth.
Stay current with industry trends, regulatory changes (CFPB, FHFA, HUD), and market developments; communicate implications to leadership.