Secondary Market Analyst I

Redstone Federal Credit Union; United States; On-site; USD 80,000 - 110,000; Full time

Job summary

Redstone Federal Credit Union seeks a Mortgage Finance Analyst to support the mortgage rate lock desk, pricing engine, and investor loan delivery process. You will process rate lock requests, assist lenders with pricing questions, and help prepare periodic financial plans and reports.

You will analyze the real estate market to recommend strategies and collaborate across departments to improve origination and processing platforms.

Qualifications

• 4-year bachelor’s degree in finance, accounting, economics or related business field is required.
• Minimum 2 years in a financial institution; secondary marketing or capital markets experience preferred.
• Excellent Excel skills and strong attention to detail are essential.

Responsibilities

• Process mortgage rate lock requests and administer post-lock changes per policy.
• Assist originators with loan pricing questions and scenarios.
• Support investor reporting and reconcile discrepancies with external investors.
• Monitor rate locks and secondary market commitments for hedging and sale.
• Prepare weekly/monthly reports and analyze profitability and costs.

Skills

Microsoft Excel

Attention to detail

Communication skills

Analytical thinking

Education

Bachelor's degree in Finance, Accounting, Economics or related business field

Tools

Workday

OnBase

Encompass

Optimal Blue

Job description

Job Description Summary

Supports the daily operation of the credit union's mortgage rate lock desk, pricing engine, and investor loan delivery process. Processes new mortgage interest rate lock requests and assists mortgage loan originators with loan pricing questions and issues. Assesses the current real estate market and recommends mortgage strategies. Assists with mortgage interest rate pricing, mortgage investor reporting, secondary market commitments, and mortgage pipeline hedging. Assists with the preparation of weekly/monthly interest rate proposals for the credit union's mortgage products. Prepares and analyzes financial plans, forecasts, and reports. Performs various ad-hoc financial analyses. Communicates financial results and financial analysis findings to management to assist with decision making. Assists in updating, maintaining, and creating multiple complex financial models. Works cross-functionally across the credit union to assist with developing goals and analyzing performance.

Job Description Essential Duties and Responsibilities

Processes new mortgage interest rate lock requests and administers post-lock changes in accordance with established rate lock policy. Assists mortgage loan originators with loan pricing questions and issues; provides front-line support on pricing engine use and scenarios. Assists with mortgage investor reporting, submitting loan files to external investors and reconciling discrepancies. Monitors mortgage interest rate locks and secondary market commitments to ensure successful sale and hedging of secondary market pipeline. Works extensively with mortgage lending departments and external mortgage loan investors to maintain functionality of multiple origination/processing platforms. Researches general ledger accounts to identify discrepancies and communicates findings to management. Conducts activity surveys with department management to derive a standard cost of labor for loan origination activity; reviews and records new loans; works closely with Cost Accountant to compile statistical results into an analysis to determine when to expense or amortize origination income/expense. Conducts various financial analyses and research on credit union operations as directed by management, including but not limited to: ROI calculations, profitability, marginal cost, loan pricing, and gain on sale projections. Provides information to management by assembling data, summarizing data, and preparing reports. Reliably and accurately mines data from multiple report sources, including but not limited to: Workday, OnBase, Encompass, Optimal Blue, and RFCU’s core system to support weekly and monthly reporting. Reconciles month-end investor loan accounts to investor balances, identifying and researching variances between RFCU and investor records. Develops efficiencies and creates process improvements utilizing multiple software programs to reduce the time necessary to complete responsibilities.

Company Wide Expectations

Maintains a professional image and demeanor at all times, consistently demonstrating Credit Union RISE Values and adhering to the Code of Ethics. Delivers friendly, caring service to internal and external members. Complies with all applicable State, Federal and NCUA rules and regulations and all Credit Union policies and procedures. Follow all physical and online security procedures and maintain strict confidentiality of all member information. Completes all required regulatory and compliance training and maintains required knowledge of Credit Union products and services. Works scheduled hours and maintains punctuality. Performs other related duties as assigned or requested.

EDUCATION/EXPERIENCE

Minimum Qualifications To perform this job satisfactorily, an employee must be able to carry out each essential duty competently. The requirements listed below are representative of the education, experience, skills and abilities required. An equivalent combination of education and experience may be considered.

Education Requirements 4 Year / Bachelors Degree - Finance, Accounting, Economics or other Business related field - Required Experience Requirement 2 Years - Financial Institution experience. - Required Secondary marketing, mortgage banking, or capital markets experience - Preferred Skills/Abilities Effectively apply internal and external customer service practices and processes to meet quality service standards and achieve member satisfaction. Learn and apply information, on a wide range of credit union products, services, and regulatory compliance requirements, in order to assess member situations and develop solutions. Superior skills with Microsoft Excel. Familiarity with fixed income investments and the effect of macro and microeconomic influences on economic environments. Attention to detail and accuracy required. Utilize knowledge and experience in performing job functions. Communicate in a professional manner and deliver information clearly and effectively. Actively listen to questions, opinions, and ideas of others. Use tact and diplomacy in sensitive and confidential situations. Use correct English including spelling, grammar, and punctuation. Operate computers, use business software, and other standard office equipment. Understand and follow written and oral instructions. Set priorities and manage one’s own time effectively.

PHYSICAL DEMANDS

Physical Demands Disclaimer The physical demands described here are representative of those that must be met by employees to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Physical Requirements Intermittent standing, sitting, walking, bending and climbing. Using hands repetitively to handle, feel or operate computers and other standard office equipment. Reaching with hands and arms. Intermittent lifting and carrying up to 25 pounds.

WORK ENVIRONMENT

Work Environment Disclaimer An employee in this job will experience the following main work environments, others not listed may also be encountered on occasion; Work Environment Works in a general office environment. Redstone Federal Credit Union 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, age, protected veteran status or status as an individual with disability. All qualified applicants will not be discriminated against on the basis of disability. We are proud to be a Drug-Free and Tobacco Free Workplace. Redstone Federal Credit Union has been serving the communities of North Alabama and middle Tennessee since 1951. We’re a strong, stable, and growing organization looking for ambitious individuals who can collaborate effectively on a team, yet still thrive on their own. You’ll be helping us change our communities by supporting our mission – improving the financial well-being of our members and communities by offering trusted advice, choices, opportunities, and solutions – and ultimately giving members a better experience. Discover a unique opportunity to join an innovative and rapidly growing company today!