Mortgage Capital Markets Expert

Overview:

We are seeking a highly analytical and detail-oriented professional to join our Capital Markets team. This role's primary responsibility is to support the valuation, modeling, and analysis of commercial mortgage servicing rights (CMSRs). The ideal candidate will have a strong quantitative background and be eager to develop deep subject matter expertise in CMSRs. Independently analyzes, manages, and maintains Residential Mortgage Originations Division models designed to manage the Division’s CMSR pipeline and portfolio. Ensures accuracy and timeliness of standard and ad hoc reporting as needed. Model outputs will be used in varying Bank disciplines including Accounting, Finance, Treasury, Capital, and Risk areas. Works with the Bank’s MRM and Internal Audit teams.  Serves as Bank-wide or industry expert in key area(s) of mortgage pipeline and MSR risk management and valuation.  Provides mentoring, training and guidance to less experienced analysts and may lead/manage teams on a project basis, providing performance feedback to management as appropriate.

Primary Responsibilities:

• Develop and maintain models to value and forecast performance of CMSRs.
• Support analysis and reporting of the Capital Markets residential mortgage pipeline & portfolio and/or MSR valuation and risk position to senior management, providing a clear explanation of key drivers for changes in valuation and risk profile.
• Serve as subject matter expert while working collaboratively with other teams to strategically drive business outcomes.  Partner with varying business lines to ensure pipeline and/or MSR model assumptions are accurate in QRM (Quantitative Risk Management) modeling and incorporated appropriately in Bank forecasting.
• Provide leadership and subject matter expertise to Accounting, Finance, Mortgage Servicing as it relates to pipeline and/or MSR servicing valuation and impairment, and risk management, by preparing, analyzing, and reporting various scenarios modeled in QRM which support or enhance strategic decisions by the senior management of the mortgage and servicing businesses.
• Lead projects related to continuous enhancement of the Consumer Capital Markets pipeline and/or MSR valuation and risk management framework to meet industry standards and regulatory expectations.
• Stay abreast of current and proposed regulatory guidance and industry best practices as they relate to pipeline management and MSR valuation management. Lead initiatives to test the Bank's readiness to comply with applicable proposed industry regulations.
• Support manager in areas concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.  Design, implement, maintain and enhance internal controls to mitigate risk on an ongoing basis.  Identify risk-related issues needing escalation to management.
• Promote an environment that supports diversity and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Scope of Responsibilities:

This position provides oversight of the Capital Markets vended models (QRM Mortgage Banking and Servicing) and works with department colleagues to ensure model output is as expected.  Position may execute trades designed to hedge interest rate locked pipeline loans, and/or may provide support in valuing potential MSR servicing portfolios for purchase.  Using QRM model data, and current market interest rates and pricing, will assess market risks and opportunities to ensure Capital Markets strategies comply and adhere to Bank standards, and meet Bank return thresholds.  The position is required to adapt to and initiate change within areas of responsibility. In carrying out these responsibilities, the position must interact and build relationships with members of the Secondary, Servicing, Accounting, Finance, Treasury, Compliance, Legal, Audit, and various investment bankers/investors, and vendors.

Education and Experience Required:

• Bachelor’s degree in Accounting, Finance, Math, Economics or related field and a minimum of 6 years’ related experience focused on mortgages/mortgage-backed securities, or lieu in of degree, a combined minimum of 10 years’ higher education and/or work experience, including a minimum of 6 years’ related experience focused on mortgage-backed securities.
• Direct experience with valuation of commercial and residential mortgage servicing rights, and/or managing a residential mortgage pipeline, and associated trade execution in the capital markets. 
• Comprehensive understanding of the relevant instruments and markets. 
• Strong financial, quantitative, economic, analytical, and presentation skills.
• Excellent verbal and written communication skills.
• Demonstrated expertise in the use of mortgage pipeline and MSR software, such as QRM, Compass Analytics, Andrew Davidson, Bloomberg.
• Knowledge of product and credit processes related to Capital Markets businesses.
• Extensive knowledge of economics and fixed income/derivatives markets.

Education and Experience Preferred:

• Master’s degree in Business Administration (MBA) or Chartered Financial Analyst (CFA)
• Proficiency with personal computers and relevant analytical software packages in the field: Quantitative Risk Management (QRM) Risk Framework, Andrew Davidson & Co (AdCo), etc.
• Proven track record for being able to work autonomously and within a team environment.
• Proven leadership skills.
• Strong desire to learn and contribute to a group.
• Previous experience leading and directing the work of less experienced personnel.