VP, Hedging Manager of Secondary Markets

RZS Recruitment; Pittsburgh (Allegheny County); On-site; USD 160,000 - 200,000; Full time

Benefits offered by this job

Flexible work from home days

Relocation assistance possible

Job summary

A financial services firm is seeking a VP, Hedging Manager of Secondary Markets in Pittsburgh. This role requires a Bachelor's degree and 5+ years of related experience, focusing on hedge effectiveness and risk analytics. Responsibilities include modeling hedges for mortgage pipelines, developing performance monitoring frameworks, and managing MSR hedges. Ideal candidates must possess strong knowledge in interest rates and options trading. Excellent communication and project management skills are essential. Flexible work from home days may be available.

Qualifications

• BA or BS required.
• 5+ years of experience in relevant fields required.
• Must be based in Pittsburgh or willing to relocate.

Responsibilities

• Model hedge effectiveness of HFS Mortgage Pipeline.
• Develop performance monitoring and feedback mechanisms.
• Create frameworks for managing the MSR hedge.
• Apply advanced analytics & modeling for pricing analysis.
• Coordinate monthly market-to-market profitability.
• Manage trade to pool allocation and settlement processes.

Skills

Excellent communication skills, both written and verbal

Excellent management skills

Excellent project management skills

Detail-oriented

Ability to work and multi-task in a fast paced environment

Excellent organizational, analytical and interpersonal skills

Strong knowledge of secondary residential markets

Knowledge of derivatives, options trading and modeling

Experience in hedging mortgages and MSR

Understanding of MBS trading and specified pools

Education

Bachelor's Degree

Tools

MSR

Derivatives

Job description

VP, Hedging Manager of Secondary Markets

Location: Pittsburgh, Pennsylvania, United States

Flexible work from home days

Industry: Financial Services - Mortgage

Job Category: Finance / Accounting - Other Finance / Accounting

Compensation

• Base Salary - USD $160,000 to $200,000
• Full-time
• Benefits - Full
• Relocation Assistance Available - Possible for ideal candidate
• Commission Compensation - No
• Bonus Eligible - No
• Overtime Eligible - No
• Interview Travel Reimbursed - No

Candidate Details

• Seniority Level - Mid-Senior
• Management Experience Required - No
• Minimum Education - Bachelor's Degree
• Willingness to Travel - Never

Security Clearance Required: No

Visa Candidate Considered: No

Primary Responsibilities

• Modeling for hedge effectiveness of HFS Mortgage Pipeline and work closely with hedging provider while analyzing efficacy of various hedging instruments and modeling parameters. Explore application of options to manage the growing convexity risk and manage the unique nature and risk of pipeline with growing share of longer‑term products like salable construction to perm and extended locks.
• Responsible to develop a robust performance monitoring and feedback. The development of back‑testing and stress‑testing of the HFS rate lock exposure versus actual pull‑through and integration of a dynamic market rate, yield curve and market volatility impact on related models.
• Developing a framework to manage the MSR hedge utilizing various derivatives instrument including Options, TBA, Swaps and Eurodollars. Devising a framework for MSR valuation with third party for regular mark to market and sensitivity of MSR values net of hedge and reporting.
• Growing our risk analytics and risk reporting and implementation of a dynamic risk measurement and reporting package to support Manager of Capital Markets in the overall Pipeline/Warehouse and reporting activities and P&L tracking and explanation. Review, recommend and document all related policies and procedures in accordance ALCO risk control framework.
• Applying advanced analytics & modeling skills to support various functions in secondary marketing including pricing analysis, market share studies and suggest strategies to grow our business.
• Develop process to manage securitization and specified pool trading. Knowledge of trade to pool allocation and settlement. Expected to start with Ginnie pools and then follow up with Fannie and Freddie pooling and allocation.
• Coordinates monthly and/or quarterly market‑to‑market profitability with the Finance Department.
• Review of existing and alternative vendor models for hedge service and pricing engine and recommend and implement changes if required. Familiarity and involvement with other roles in secondary marketing including pricing, lock desk functions, product development process and loan sale.
• Performs other related duties and projects as assigned.
• All employees have the responsibility and the accountability to serve as risk managers for their businesses by understanding, reporting, responding, managing and monitoring the risk they encounter daily as required by F.N.B.
• Corporations risk management program.

Minimum Level of Education Required to Perform the Primary Responsibilities of this Position

BA or BS

Minimum # of Years of Job Related Experience Required to Perform the Primary Responsibilities of this Position

5

Skills Required to Perform the Primary Responsibilities of this Position

• Excellent communication skills, both written and verbal
• Excellent management skills
• Excellent project management skills
• Detail-oriented
• Ability to work and multi-task in a fast paced environment
• Excellent organizational, analytical and interpersonal skills
• Strong knowledge of secondary residential markets, interest rates, derivatives, options trading and modeling, hedging mortgages and MSR, MBS trading, best execution and specified pools.

Licencures/Certifications Required to Perform the Primary Responsibilities of this Position

N/A

Physical Requirements or Work Conditions Beyond Traditional Office Work: N/A

Skills and Certifications

• MSR
• Derivatives

Ideal Candidate

Must have excellent MSR pipeline experience

Candidate must be based in Pittsburgh. If not currently, must relocate before or shortly after start date.