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Secondary Market Manager

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Location(s):  Broadway - Fair Lawn, NJ
Description:  The Secondary Market manager is responsible for managing the secondary market activities and initiatives within home loans with a balance between tactical and strategic focus that includes policy and process design.  Interfacing with key bank and departmental leadership, this position will help define and implement a long term capital markets rate strategy that incorporates product, pricing, lock desk, pipeline management, best execution analysis, interest rate risk management, hedging, and delivery methods. The incumbent is the primary contact for investors.
Job Requirements:
  • BA/BS in a business related field or equivalent is required;
  • A minimum of 7+ years experience as a Secondary Market Manager with responsibility for product, pricing;
  • A minimum of 7+ years experience with the use of secondary market research data/audits;
  • Experience dealing with FNMA and FHLMC and Ginnie Mae;
  • Familiarity with competitive intelligence methods and practices;
  • Complete knowledge and understanding of bank operations, policies and procedures;
  • Excellent written and communication skills, including ability to deal professionally with issues,problems, and questions;
  • Excellent attention to detail and accuracy; good organizational, research and follow-up skills;
  • Ability to interact with all levels of clients (internal/external), staff, and management;
  • Requires the ability to exercise independent judgment and employ basic reasoning skills;
  • Ability to work successfully in a deadline driven, high pressure, fast-pace, ever changing team environment.
  • Proficient in Microsoft Word, Excel, Outlook.
Job Description:
  • Responsible for managing the secondary market activities and initiatives within Home loans with a balance between tactical and strategic focus that includes policy and process design. Provides functional oversight for the lock desk and investor delivery teams. Monitors and maximizes pull through rates, reporting on commitment strategies. Exercises the usual authority of a manager concerning; performance appraisals, staffing, employee development, salary recommendations and terminations.
  • Performs mortgage pipeline and interest rate risk management including hedging, to minimize market interest rate exposure.
  • Defines and carry out pricing and delivery strategy to achieve stable, targeted profit margins.
  • Establishes daily secondary market pricing for saleable product and work closely with Treasury and other leadership on establishing portfolio product pricing. Monitor pricing for competitive positioning taking advantage of investor price moves and owning the product eligibility and Pricing eligibility engines.
  • Analyzes potential loan pools that will optimize current and future loan sale opportunities.Manages the analysis of data on the performance of the sold-loan portfolio (prepayment and delinquency) for trends and comparison to industry norms.
  • Structures pools that maximize loan inventory with investor pricing and requirements. Develop and manage secondary market investor trading relationships. Develop awareness for capital markets issues and trends that will impact sale execution. Maximize profitability within establish guidelines through best execution analysis and choice of investor delivery methods.
  • Maintains up-to-date knowledge, and may train others, on products, services, departmental systems, and related technology, policies and procedures. Follow all Bank policies and procedures to ensure compliance with all laws and regulations.Understand and adhere to the Bank’s policies and procedures.
  • Manages relationship with investors, sourcing new investors, performing annual certifications or re-certifications of investors and ensuring compliance with investor requirements.
  • Performs other job related duties as may be assigned.
To Apply:  Please click the "Apply Online" button above and submit your application.
Columbia Bank and its affiliates is an Equal Opportunity Employer
Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities