Manager, Mortgage Capital Markets
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POST DATE 9/19/2016
END DATE 10/18/2016
BOK Financial Corporation
JOB DESCRIPTIONReq ID: 13142
Areas of Interest: Mortgage
BOK Financial (BOKF), Headquartered in Tulsa, Oklahoma, BOK Financial Corporation (NASDAQ: BOKF) is a top 25 U.S.-based financial services holding company with operations in ten states Oklahoma, Texas, Arkansas, Arizona, Colorado, Kansas/Missouri, New Mexico, Nebraska and Wisconsin. The company began more than 100 years ago in Tulsa and has successfully diversified into a variety of industries, businesses and geographies. .
The Manager, Mortgage Capital Markets The Manager, Mortgage Capital Markets will provide responsive and confident strategic leadership in multiple facets of creating mortgage assets and its management. As a senior risk manager, the Director will be instrumental in managing and mitigating all market risks inherent in mortgage asset generation and its preservation to strategically contribute to the mortgage group's business success in general. To execute the critical duties, this position will select, manage and motivate mortgage finance and operations professionals responsible for developing, pricing, trading, delivering, managing and hedging mortgage loans and the related mortgage servicing asset.
PRINCIPLE DUTIES AND RESPONSIBILITIES:
- Responsible for the people, processes, risk management, best execution, and technology in the secondary marketing group focused on quality execution and flexibility that is responsive to both internal and external market risk dynamics. Primary contact for secondary Market investors (GSE's, GNMA and private investors) and BOKF as an internal investor. Nurture existing relationships with external secondary marketing agencies and investors as well with internal portfolio investor counterparties to introduce products that enhance the production group's competitiveness while maximizing profitability with minimal risks. Participate in the Product Development Committee to be responsive to the product needs of BOK Mortgage production channels. Interface with internal mortgage servicing group to monitor credit quality and cash flow performance of products with an intention of recommending discontinuance of products deemed loss leaders. Set pricing and pricing rules for each mortgage product that ensures competitiveness, mitigates risk of adverse selection while achieving corporate goals of margin requirements. Stay abreast of timing and intensity of pricing adjustments dictated by investors and agencies. Assess financial impact of various price adjustments and communicate to appropriate stakeholders. Continuously incorporate the financial impact of MSR on the front end pricing of the mortgage loans. Create a culture and mind set of a disciplined and conservative approach to hedging the market risk inherent in the pipeline designing and executing strategies that strictly adhere to corporate set policies and procedures. Elicit and develop arbitrage opportunities that may be outside existing trading policy with an intention of seeking approval prior to execution.
KNOWLEDGE, SKILLS and ABILITIES:
- Exceptional analytical, quantitative and negotiating skills specific to secondary marketing and interest rate risk management.
- Comprehensive knowledge and understanding of Mortgage Servicing Rights' valuation and fair value assessment.
- Extensive knowledge of the interest rate risk inherent in the MSRs and hedging it with financial instruments and derivatives.
- Commanding knowledge of trading whole loans and mortgage servicing rights in open auction.
- Working knowledge of GAAP as utilized in the process of marking the pipeline to market and declaring the MSR at its fair value.
- Exceptional written, verbal communication and organizational skills.
- Leadership ability consensus building skills.
This level of knowledge is normally acquired through completion of a Bachelor's degree and 5-7 years experience in secondary market or MSR hedge leadership including 3 years in a supervisory capacity; or 12-15 years related experience.
BOK Financial is a stable and financially strong organization that provides excellent training and development to support building the long term careers of our employees. With passion, skill and partnership you can make an impact on the success of the bank, our customers and your own career!
Apply today and take the first step towards your next career opportunity!
BOK Financial is an equal opportunity employer. We are committed to providing equal employment opportunities for training, compensation, transfer, promotion and other aspects of employment for all qualified applicants and employees without regard to sex, race, color, religion, national origin, age, disability, sexual orientation, genetic information or veteran status.
Attention All Third Party Agencies, Headhunters, and Recruiters
BOK Financial and its Subsidiaries will not accept candidate submission by unsolicited third parties through this site or any company email address. All unsolicited candidates presented to BOK Financial and its Subsidiaries will be considered the property of BOK Financial. BOK Financial and its Subsidiaries will not be responsible for any fees associated with unsolicited candidates, nor will a contractual relationship be formed by the submission. BOK Financial and its Subsidiaries are not obligated and will not under any circumstances pay any fees to said third parties submitting candidates in this manner. BOK Financial and its Subsidiaries only forms contracts with recruiters with whom we have an established business relationship and with whom we have in place a signed agreement. All contact with BOK Financial and its Subsidiaries from third parties must be through our Human Resources Department. Any contact made outside of the BOK Financial Human Resources Department by a third party will cancel any future business relationships between the third party and BOK Financial.