Hedging & Trading Specialist - Hybrid

benchmark; Plano (TX); On-site; USD 85,000 - 125,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

Short-term and long-term disability

401(k) and Roth 401(k) with company"+"

Company-provided life insurance

8 paid holidays

AND MORE!

Job summary

benchmark seeks a Hedging & Trading Specialist to join its capital markets desk, focusing on pricing and committing Non-QM loans to investors and aggregators and supporting the hedge operations.

The role requires 2-3 years in mortgage banking or financial services, strong Excel skills, and meticulous work on a market-driven schedule, with responsibilities spanning daily hedge packages to P&L reporting.

Qualifications

• 2-3 years of mortgage banking or financial services experience.
• Advanced Excel skills and data analysis.
• Attention to detail and accuracy in a market-driven schedule.

Responsibilities

• Price and commit Non-QM loans to investors, entering commitments accurately.
• Prepare the daily hedge package for the Senior Trader and summarize exposure and pipeline changes.
• Pull and reconcile the daily loan-level pipeline across systems.
• Build and submit bid tapes and track results, fill rates, and pricing by counterparty.
• Maintain the commitment calendar with delivery windows and deadlines.
• Track committed loans through funding and resolve price variances and delivery issues.
• Enter trades and reconcile dealer confirms and settlements.
• Track daily lock volume and maintain the history of assumptions.
• Support daily rate sheet production and validate investor price changes.
• Run competitor pricing comparisons and assist pricing questions.
• Produce daily/weekly/monthly hedge reconciliation and P&L reports.
• Other duties as assigned.

Skills

Advanced Excel

Pivot tables

XLOOKUP/INDEX-MATCH

SUMIFS

Analytical skills

SQL

Python

Power Query

VBA

Education

Bachelor's degree in Finance, Economics, Mathematics, Accounting, Business, or a related field

Tools

SQL

Power Query

VBA

Python

Job description

Hedging & Trading Specialist

Position Overview:

The Hedging & Trading Specialist is a hands-on seat on the capital markets desk with a primary focus on Non-QM loan committing and hedging support. The role prices and commits Non-QM production to investors and aggregators, tracks those commitments through delivery, and maintains the daily data and reporting that support the Company's interest rate hedge.

Ideal candidates for this position will have (1) 2-3 years of mortgage banking or financial services experience; (2) strong Excel skills; and (3) demonstrated accuracy and attention to detail working to a market-driven schedule.

Essential Functions of the Role:

• Price and commit Non-QM loans to investors and aggregators, entering commitments accurately and confirming terms.


• Prepare the daily hedge package for the Senior Trader, summarizing exposure by coupon and product, current position, and pipeline changes.


• Pull and reconcile the daily loan-level pipeline across the loan origination system, pricing engine, and hedge analytics platform.


• Build and submit bid tapes, and track bid results, fill rates, and pricing by counterparty.


• Maintain the commitment calendar, including delivery windows, expiration/extension deadlines, and roll or pair-off exposure.


• Track committed loans through funding, including purchase advice reconciliation and resolution of price variance, delivery, and suspense issues.


• Enter trades as directed and reconcile dealer confirms, settlements, and pair-offs.


• Track daily lock volume, extensions, fallout, and pull-through, and maintain the underlying assumption history.


• Support daily rate sheet production, validating investor price changes, margin updates, and product changes.


• Run competitor pricing comparisons, flag anomalies, and support sales and the lock desk on pricing and lock-policy questions.


• Produce recurring daily, weekly, and month-end secondary marketing, hedge reconciliation, and P&L reports.


• Other duties as assigned.

Classification: Full Time, Non-Exempt

Hedging & Trading Specialist

Essential Knowledge/Skills/Abilities:

• Advanced Excel skills, including pivot tables, XLOOKUP/INDEX-MATCH, and SUMIFS, with comfort working in large data sets.


• Demonstrated accuracy and attention to detail, particularly working to a market-driven schedule.


• Clear, direct written and verbal communication with internal teams and external counterparties.


• Ability to work independently and proactively surface questions rather than guess.


• Working knowledge of fixed income, derivatives, or financial market concepts.


• Familiarity with mortgage-backed securities, TBA mechanics, and basic hedging concepts.


• Strong analytical and problem-solving ability.


• Technical proficiency in SQL, Power Query, VBA, or Python.

Experience Requirements:

• Minimum of two (2) years of professional experience in mortgage banking or financial services (lock desk, secondary marketing, post-closing, loan delivery, capital markets operations, or a comparable analytical role) required.


• Exposure to Non-QM products (Bank Statement, DSCR, 1099, non-agency Full Doc) preferred.


• Exposure to a loan origination system, pricing engine, or hedge analytics platform preferred.

Education / Licensing Requirements:

• Bachelor's degree in Finance, Economics, Mathematics, Accounting, Business, or a related field, or equivalent mortgage industry experience in lieu of a degree, required.


• Coursework or self-study in fixed income, derivatives, or financial markets preferred.

Working Conditions:

• Fast-paced, market-driven environment.


• Requires normal vision (corrected) both close and distant.


• Requires normal hearing levels (corrected).


• Requires working at a desk to use a phone and computer for extended periods of time.


• Requires sitting, bending.


• Works effectively with frequent interruptions.


• Lifting requirements of 10 lbs. occasionally.


• Minimal travel <5%.


• Along with a great culture and competitive pay, full-time employees are eligible to receive additional benefits:
  
  
  
  • Medical, dental, and vision insurance
  
  
  • Short-term and long-term disability
  
  
  • 401(k) and Roth 401(k) plans and Company match
  
  
  • Company-provided life insurance
  
  
  • 8 paid holidays
  
  
  • AND MORE!