Director, Servicing Investment Portfolio
Onity

Job Info

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JOB DESCRIPTION

POSITION TITLE: Director, MSR Portfolio Management

Position Summary:

This critical role on the MSR Portfolio Management Team will lead portfolio return optimization and contribute significantly to the overall MSR valuation program. Through ownership of the asset performance realization management, this position will be essential to achieving the portfolio growth and return objectives of the firm. This teammate will be a critical partner of the Finance and Capital Markets teams, responsible for analysis and recommendations of actions to enhance the company's return and risk reporting framework. The ideal candidate is an experienced MSR practitioner, with extensive knowledge in the valuation and trading of MSR assets. Experience with reverse mortgage assets would be a plus.

Responsibility Overview:

• Evaluate realized performance of forward and reverse MSR assets and present to executive management.
• Propose strategies or transactions to enhance financial performance.
• Preparation of financial projections, yield analysis and deal summaries for any MSR transactions.
• Contribute to the production of MSR values, SRP grids and risk measures.
• Directly support the risk hedging activities of MSR management.
• Develop enhancements to valuation methods and production processes to improve efficiencies.

Key Result Areas:

• Contributes to the growth and profitability objectives of MSR net income.
• Identifies strategies that result in net income growth.
• Timely and accurate delivery of MSR performance measurement.
• Responsive analysis and pricing of potential transactions resulting in deal success that achieve target return hurdles.
• Implementation of tools and methods that improve the effectiveness of active portfolio management.

Qualifications:

To perform this job successfully, an individual must have the following education and/or experience:

• Minimum 10 years mortgage industry experience
  • Experience with both forward and reverse mortgage assets is preferred.
• Minimum 7 years MSR valuation experience
  • Experience using MSR valuation and hedging frameworks such as QRM, Compass or MIAC.
  • Highly knowledgeable in MSR valuation methods, models and assumptions.
  • Experience benchmarking MSR values against peers and industry benchmarks.
  • Familiar with MSR hedging methods and instruments.
  • Experience working with MSR asset data types and fields.
  • Robust knowledge of the nuanced differences and similarities between the MSR loan types, including Fannie Mae, Freddie Mac, Ginnie Mae, Private Label Securities, Nonperforming Loans/Reperforming Loans, Non-QM, Reverse Mortgages, and HELOC.
  • Familiar with FNMA SMP/FH Co-Issue/FHLMC CRX/GN PIIT/FHLB pricing process
• Ability to solve complex and unusual technical, administrative, and managerial situations
• Superior interpersonal skills and ability to communicate complex information effectively
• Ability to partner with all levels of management to ensure effective implementation of time-sensitive initiatives and identify deficiencies and opportunities for improvement
• Bachelors degree in a related field such as finance, mathematics, economics or business.
• CFA or FRM designation is preferred.
• Highly skilled and experienced working with SQL and large mortgage data sets.
• Ability to perform programming in VBA or Python would be a plus.
• Experienced in the trading and purchasing of mortgage assets, especially MSR or reverse.
• Experienced in SRP grid development, flow and co-issue transactions.
• Familiar with FNMA SMP/FH Co-Issue/FHLMC CRX/GN PIIT/FHLB programs.

Training / Licensing Requirements:

• Must pass the Company's Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
• (Ex. or Currently possesses NMLS and MLO licensing in resident state where licenses are required or ability to obtain licensing)

TO BE FILLED OUT BY RECRUTING: The salary range for this position is expected to be $150,000 - $175,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate.This position is also eligible for bonus based on performance and subject to the terms of the Company's applicable plans.

ABOUT US

Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation's largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. Onity Group Inc. and its subsidiaries are committed to helping homeowners and delivering exceptional service and value to customers, clients and investors.

At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.

Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.

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