Why USAA?
Let’s do something that really matters.
At USAA, we have an important mission: facilitating the financial security of millions of U.S. military members and their families. Not all of our employees served in our nation’s military, but we all share in the mission to give back to those who did. We’re working as one to build a great experience and make a real impact for our members.
We believe in our core values of honesty, integrity, loyalty and service. They’re what guides everything we do – from how we treat our members to how we treat each other. Come be a part of what makes us so special!
We are seeking a dedicated Director, Secondary Marketing preferably in the San Antonio, TX, Charlotte, NC, or Tampa, FL regional office. This position is a hybrid work type that allows employees to gain the best of both worlds – collaborating in-person in the office and working from home when needed to achieve focused results.
The Opportunity
What you’ll do:
Leads the operations activities related to Real Estate Capital Markets. Manages a team responsible for mortgage pipeline, warehouse risk management, best execution analysis, pricing, hedging, trading, and reporting to include secondary market loan sale executions and settlements. Works with strategic partners to enhance secondary marketing operations to drive strategic outcomes including developing, implementing, and maintaining operational procedures, systems, and enhancing operational reporting to drive strategy. Collaborates with internal partners in mortgage sales, servicing, production, finance, and produce management functions. Oversees mortgage pipeline hedging and pooling, manages the hedge process and quantitative analysis, and continually seeks to enhance hedging processes by staying abreast of selling/servicing guidelines.
- Identifies and manages existing and emerging risks that stem from business activities and the job role.
- Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled.
- Follows written risk and compliance policies, standards, and procedures for business activities.
- Manages a team responsible for best execution analysis to optimize loan sale proceeds, via whole loan, cash window or pool delivery. Responsible for mortgage pipeline risk management activities to mitigate interest rate risk, such as hedging with forward MBS trades and best effort commitments.
- Oversees and manages loan sales including assignment of trade/direct trade (AOT/DTs), whole loan cash sales, servicing retained, servicing released, and issuing Agency securities; Executes mandatory loan sales, and manages co-issue servicing transitions to accurately execute secondary market interest rate and price risk hedging / hedge related processes.
- Maintains the risk management and risk analytical framework (CompassPoint); Enhances P/L attribution reporting and pull through modeling techniques to improve hedge model effectiveness; Builds portfolio analytics to assess risk / return profiles for various rate scenarios and quantifying risk through statistical modeling such as Value at Risk (VaR).
- Sets daily pricing and ensures team prepares daily rate sheet pricing for appropriate stakeholders; stays abreast of external trends and monitors competitive pricing landscape to set appropriate margins.
- Responsible for proactively identifying risks, resolving issues, offering solutions to close process gaps, overseeing implementation of strong controls, and reducing risk to the organization.
- Oversees activities related to audits (internal or external) including working closely with internal auditors, external regulators, investors, and attorneys; May assist in gathering information to ensure requirements are met; Interprets, translates and oversees the implementation of all new regulatory and investor requirements.
- Provides insights through data and analytics and prepares and delivers recurring and ad-hoc analysis and reporting to deliver to different levels of leadership within Capital Markets; Builds quantitative analytics and trading/hedging strategies in mortgage pipelines leveraged by leaders to inform decisions.
- Fosters working relationships with leaders at all levels, direct staff, key stakeholders, vendors, investors, and collaborates with internal partners such as mortgage fulfillment, sales, accounting, finance, IT, risk and compliance, and other cross functional areas to deliver
- Continually seeks to enhance internal processes, and identifies opportunities for innovation and improvement; Facilitates and directs process improvements or system modification implementations to enable operational effectiveness with an emphasis on compliance.
- Serves as a leader responsible for coaching, influencing, developing, and performance managing team of professionals. Recruits, hires, trains, evaluates employee performance, and manages promotions, transfers, conflict resolution, and disciplinary action.
What you have:
- Bachelor’s degree; OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree.
- 8 years of mortgage industry experience within secondary marketing or capital markets.
- 3 years of experience as a team lead or people leader required.
- Strong knowledge and application of federal mortgage lending regulations and compliance.
- Experience managing the Pipeline and Warehouse interest rate, fallout, pricing, and operational risks of a mortgage originator.
- Experience with Compass Analytics or other pipeline/warehouse risk management platforms.
- Experience using different trading platforms such as TradeWeb, Bloomberg, etc.
- Demonstrated experience in analytical, critical thinking, and research techniques.
- Comprehensive knowledge and understanding of financial markets, Interest Rate/Price risks, and Secondary Mortgage Markets.
- Strong proficiency with the Microsoft Office Suite package including an expert knowledge of Excel.
- Flexible, action and results oriented, self-starting, with the ability to work in a fast paced, high stress, changing environment/working in a team atmosphere adhering to strict deadlines.
- Strong analytical skills with a proven track record in analyzing and compiling data from multiple sources.
What sets you apart:
- Recent experience working on pricing, trading, and hedging ARM products.
- Recent experience with Secondary Market Loan Delivery and Settlement systems.
- Comprehensive knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
- Recent experience building relationships with participants in the Secondary Mortgage Markets, including buyers and sellers of mortgage loans.
- Experience in working with internal/external audit, regulatory compliance (including Volcker rule).
The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
What we offer:
Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position. The actual salary for this role may vary by location. The salary range for this position is: $132,500-$253,220.
Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.
Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.
For more details on our outstanding benefits, please visit our benefits page on USAAjobs.com.
Relocation assistance is not available for this position.
USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.