We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.
POSITION SUMMARY
The Trader - Capital Markets is responsible for protecting base margin by mitigating the interest rate risk associated with the company’s mortgage origination pipeline through the implementation of an effective hedge strategy. Trader will also ensure best execution on sales of funded loans via various execution strategies. Trader will work within the capital markets group and across the organization to ensure accurate reporting of risk, hedge positions, P&L, and counterparty exposure.
DESCRIPTION
Essential Functions, Duties, and Responsibilities
Run analysis on risk position to most effectively hedge the pipeline of interest rate lock commitments.Facilitate daily dialogue between NewRez and our liquidity providers regarding market conditions, specific buy/sell axes, and investor sentiment.Responsible for monitoring and tracking all available executions, including MBS, Cash, and Whole Loan execution styles. Will work closely with the best execution, pooling, and delivery teams to ensure the monetization of the pipeline is maximized.Coordinate with pricing team on daily pricing for rate sheet, bulk bids, etc.Participate in reconciliation of daily trade entry and margin exchange, as well as monthly Reg. Class Settlements and wire transfers.Trader will be responsible for producing various risk and counterparty exposure reporting.Monitor and report on empirical and dealer durations to ensure model accuracy.Trader will be responsible for a full attribution of trading P&L.Performs related duties as assigned by supervisor.Qualifications and Education Requirements
B.S. degree in Business or equivalent.Minimum at least 3 years mortgage experience with trading desk or back-office experience.Skills, Abilities, and Knowledge
Strong verbal communication skills; strong writing and composition abilities.Strong interpersonal skills with the ability to develop and maintain effective and professional relationships across the organization and with customers.Strong influencing and negotiation skills; consultative and collaborative work style. High learning agility with the ability to learn and integrate business variables and learn new systems and platforms.Strong analytical skills & problem-solving abilities; solid decision-making abilities coupled with sound judgment.Effective at managing multiple priorities under tight deadlines in a fast-paced, dynamic environment.Strong project management and time management capability.Self-directed and comfortable working with ambiguity and uncertainty.High degree of professional maturity, integrity, ability to maintain confidential data and information.High degree of business acumen; strong technical aptitude. Strong Microsoft Office skillsStrong analytical, quantitative, relationship development, and communication skills.Must be competent in Microsoft applications such as Word, Excel, Access, and PowerPoint as well as Bloomberg, TradeWeb. SQL a plus.Knowledge of industry standard hedging software (MIAC, Compass, QRM, etc.) preferred.Work Environment and Physical Requirements
Working on-site at assigned office location.Regular and punctual attendance adhering to schedule established by leadership.Flexibility to work occasional adjusted work schedulesWorking in a cubicle hub, maintaining focus on phone calls in a noisy environment within earshot of multiple other conversations.Sedentary work in a stationary position at a cubicle for prolonged periods of time.Constant repetitive motions required for operating a computer, such as typing and managing phone calls.Constantly communicating effectively verbally in English, including accurately exchanging information with others following identification of correct procedures.Additional Information:
While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.
Company Benefits:
Newrez is a great place to work but we are only as strong as our greatest asset, our employees, so we believe in rewarding them!
Medical, dental, and vision insurance
Health Savings Account with employer contribution
401(k) Retirement plan with employer match
Paid Maternity Leave/Parental Bonding Leave
Pet insurance
Adoption Assistance
Tuition reimbursement
Employee Loan Program
The Newrez Employee Emergency and Disaster Fund is a new program to support our team members
Newrez NOW:
Our Corporate Social Responsibility program, Newrez NOW, empowers employees to become leaders in their communities through a robust program that includes volunteering, philanthropy, nonprofit grants, and more
1 Volunteer Time Off (VTO) day, company-paid volunteer day where all eligible employees may participate in a volunteer event with a nonprofit of their choice
Employee Matching Gifts Program: We will match monetary employee donations to eligible non-profit organizations, dollar-for-dollar, up to $1,000 per employee
Newrez Grants Program: Newrez hosts a giving portal where we provide employees an abundance of resources to search for an opportunity to donate their time or monetary contributions
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.
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