Mortgage Pipeline Analyst & Trader - Mid Level

Job Description

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!

The Opportunity

We are seeking a dedicated Mortgage Pipeline Analyst & Trader - Mid Level to support the secondary Marketing Real Estate Area. This position can be based in one of our following office locations: San Antonio, TX, Tampa, FL or, Charlotte, NC OR work remotely in the continental U.S. with occasional business travel. Relocation assistance to San Antonio is also offered for this role.

The candidate selected for this position will work with USAA’s Transaction Management, Loan Delivery, Pricing, and Product Development teams. They will work with CompassPoint, supporting model maintenance, including valuation, hedging, pricing, and GSE loan data extracts. They will be running pricing, pool optimizer, reporting, and covering for the lead trader, as well as running projects to setup new counterparties, products, valuations, and tools within CompassPoint. They will also be a heavy contributor in enhancing our current CompassPoint design, processes for trade input, allocations, pricing, and bond settlement instructions.

Responsible for implementing secondary marketing interest rate risk hedging and related mortgage hedging processes. Conducts data analysis in support of mortgage pipeline activities, warehouse risk management and secondary marketing loan sale executions/settlements. Collaborates with cross-functional areas to fulfill required hedging activities/transactions. Ensures all activities are completed within applicable regulatory policies and requirements. Adheres to generally accepted accounting principles for mortgage and banking industry.

*This job profile is designated as a Sensitive Position. Sensitive Positions are those positions in which individuals have the authority and ability to conduct in-scope activities (movement of USAA or Member funds) as defined within the Enterprise Sensitive Positions Mandatory Time-Away Compliance Policy. Employees in Sensitive Positions are required to fulfill a Mandatory Time-Away (MTA) requirement of 10 consecutive business days each calendar year.*

What you'll do:

• Trade moderately sophisticated mortgage-backed securities and/or interest rate risk of rate locks for mortgage loans in the pipeline or warehouse.
• Perform complex interest rate risk hedging and hedge related procedures.
• Independently coordinate best execution for sale of mortgage loans, including evaluation of mandatory, best efforts, whole loans, MBS (agency and private label), servicing retained, and servicing released.
• Provide assistance with execution of real estate interest rate pricing models to include making recommendations for potential changes on modeling assumptions.
• Contribute to the development, and maintenance of policies and processes that lead to attainment of business goals and objectives.
• Find opportunities and make recommendations on how to improve operational efficiency for trading and hedging function and is accountable for results.
• Maintain proficient knowledge of products and services and regulatory requirements; Implement secondary market operations in compliance with applicable regulations.
• Support broader interest rate risk management approach through analysis of risk, development of hedge strategies, and execution of transactions to mitigate exposure deriving from mortgage servicing rights or other balance sheet elements.
• Provide guidance and/or on the job training to less experienced coworkers. Serves as a resource to less experienced team members on escalated issues of a routine nature.
• Ensure risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.

What you have:

• Bachelor's Degree OR 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• 4 years experience in mortgage trading, mortgage hedging or capital markets experience.
• Knowledge and understanding of secondary market loan delivery and settlement systems and understanding of financial markets, interest rate/price risks and secondary mortgage markets.
• Knowledge and understanding of generally accepted accounting principles applicable to the mortgage and banking industry.
• Knowledge regarding development of pricing models.
• Knowledge and understanding of federal mortgage lending regulations and compliance.

What sets you apart:

• Mortgage Secondary marketing experience.
• Working experience with Compass Analytics.
• Mortgage trading experience.
• Advanced Excel, SQL, Access or other database skills.
• Process Improvement experience.

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: $78,670 - $150,330.

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 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.