Job Description: Job Summary This position is responsible for the daily support of the Quantitative Risk Management (QRM) Mortgage Banking system for Capital Markets. The QRM MB application is used for modeling the daily risk position of rate locks, closed loans and forward positions. The Analyst will interact directly with Capital Markets Trade desk and senior management for review of daily system inputs and report deliverables. The Analyst also interfaces directly with a number of other departments within the bank. Position includes maintain QRM setup to accommodate the auto-pooling function. Requires modeling all specified pay ups and delivery contracts thereby maximizing profits.
Auto Pooling. Constructs details of several different multi variable MSR value set ups, including both internal and external, and establishing hierarchies for best execution based on these servicing set ups, as well as agency guarantee fees, and buy ups, buy downs, security prices and specified pay-ups. Updates QRM delivery commitments to ensure and enhance maximum profits for specified pool delivery. Develops instructions for delivery of mortgage back securities. Expert in QRM financial modeling platform to keep current market conditions up to date and maintained on a minute to minute basis. This process adds extreme profitability (300k-400k/month) to the organization.
Support of the Quantitative Risk Management (QRM) Mortgage Banking system for Capital Markets. Maintains procedures, ensures accuracy of underlying data. Controls input and quantifies changes made to inputs or assumptions within the model framework, which is manipulated based on day to day fluctuations within the market.
Subject Matter Expert and Liaison to Treasury, Accounting, Shipping, Trade Desk and Information Technology to ensure accuracy of cash flow, P&L. Communicates with traders and pool delivery on a daily basis to optimize securitization as well as ensuring all contracts are represented and properly modeled and fulfilled.
Analyzes and queries financial data out of QRM reporting system to communicate daily profit and loss and profit and loss attribution to senior management. This data is consolidated and packaged to report coverage status' on the mortgage pipeline to traders which is used to hedge and protect our profit margins. Works with QRM reporting system to drive initiatives, improve model efficiency and achieve goals.
Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Bachelor's Degree in quantitative field such as Accounting, Economics, Finance or similar field is required
7 - 10 years of rate analytics experience
Required expertise in QRM financial modeling platform
Specialized training in QRM 101 (Framework) and QRM 202 (Understanding QRM analytical inputs and outputs) provided by QRM
Detailed reporting and analytics with a working knowledge of mortgage banking