What are the responsibilities and job description for the Mortgage Capital Markets Trader position at Citizens?
Description
Responsible for executing both the acquisition and liquidation of mortgage loans within Capital Markets, the Mortgage Hybrid Execution Trader is relied upon to support originations strategies, supplement production volume, and facilitate whole loan/flow purchases by efficiently and accurately bidding client loan tapes while ensuring successful downstream loan registration. Capital Markets will also look to this individual to help build mandatory bulk trading analytics and observe and opine on relevant trends in volume/hit rates.
The Execution Trader will also be responsible for liquidating loans from the Citizen’s mortgage pipeline by selling securitized agency collateral into the secondary market via broker-dealer intermediaries and whole loans to potential aggregators as strategy dictates. Capital Markets will look to this individual to assist in producing analytics ranging from specified payup sensitivities to pool sales profit and loss attributions, and enhance processes that facilitate forward-sale hedge management, MBS BWIC execution etc.
This role will work directly with pipeline hedging traders and the QRM model analytics team daily. While a comprehensive understanding of pipeline risk management is not required, this individual will have ample opportunity to absorb in-depth knowledge of the various elements and strategies involved in successfully managing a multi-channel mortgage originations pipeline using a variety of instruments. It is expected that this exposure will lay the groundwork for the Execution Trader to cover pipeline hedging on an as-needed basis in the future.
Primary Responsibilities Include
Qualifications, Education, Certifications and/or Other Professional Credentials
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of very local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.
Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.
Equal Employment Opportunity
At Citizens we value diversity, equity and inclusion, and treat everyone with respect and professionalism. Employment decisions are based solely on experience, performance, and ability. Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression (including transgender individuals who are transitioning, have transitioned, or are perceived to be transitioning to the gender with which they identify), genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.
Equal Employment and Opportunity Employer
Citizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
Posting End Date: 06/15/2024
Responsible for executing both the acquisition and liquidation of mortgage loans within Capital Markets, the Mortgage Hybrid Execution Trader is relied upon to support originations strategies, supplement production volume, and facilitate whole loan/flow purchases by efficiently and accurately bidding client loan tapes while ensuring successful downstream loan registration. Capital Markets will also look to this individual to help build mandatory bulk trading analytics and observe and opine on relevant trends in volume/hit rates.
The Execution Trader will also be responsible for liquidating loans from the Citizen’s mortgage pipeline by selling securitized agency collateral into the secondary market via broker-dealer intermediaries and whole loans to potential aggregators as strategy dictates. Capital Markets will look to this individual to assist in producing analytics ranging from specified payup sensitivities to pool sales profit and loss attributions, and enhance processes that facilitate forward-sale hedge management, MBS BWIC execution etc.
This role will work directly with pipeline hedging traders and the QRM model analytics team daily. While a comprehensive understanding of pipeline risk management is not required, this individual will have ample opportunity to absorb in-depth knowledge of the various elements and strategies involved in successfully managing a multi-channel mortgage originations pipeline using a variety of instruments. It is expected that this exposure will lay the groundwork for the Execution Trader to cover pipeline hedging on an as-needed basis in the future.
Primary Responsibilities Include
- Liquidate loans weekly via agency MBS and whole loan sales
- Purchase loans daily via Citizen’s bulk mandatory channel
- Thorough understanding of correspondent bulk mandatory market pricing and bid process
- Thorough understanding of dynamics impacting successful bulk mandatory loan acquisition
- Comprehensive familiarity with agency MBS and cashflows/valuation dynamics
- Basic familiarity with mortgage pipeline risk dynamics
- Basic familiarity with mortgage banking business strategies
- Must be able to execute efficiently and accurately under pressure in a live market environment
- Proven ability to build mortgage analytics that help explain profitability, collateral composition, strategy impacts etc.
- Expert Excel skill set required. Advanced SQL and Tableau skill sets preferred.
- Daily pipeline file management.
- Assumption review and updates.
- Best execution analysis and functionality.
- Market download and pricing analysis.
- Various other duties.
- Mark to market and other various reporting responsibilities.
Qualifications, Education, Certifications and/or Other Professional Credentials
- 3 years of direct mortgage banking experience focusing on bulk mandatory trading and/or agency MBS pool sales.
- Knowledge of Capital Markets within the mortgage banking entity required.
- Experience building processes and analytics using VBA and/or Python
- Experience with light statistical modelling and manipulation of large datasets
- Prior exposure to pipeline hedging
- Basic understanding of duration/convexity dynamics
- Hours per Week: 40
- Work Schedule: Monday-Friday
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of very local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits.
Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.
Equal Employment Opportunity
At Citizens we value diversity, equity and inclusion, and treat everyone with respect and professionalism. Employment decisions are based solely on experience, performance, and ability. Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression (including transgender individuals who are transitioning, have transitioned, or are perceived to be transitioning to the gender with which they identify), genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.
Equal Employment and Opportunity Employer
Citizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
Posting End Date: 06/15/2024
Salary : $101,000 - $140,000
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