Secondary Market Operations Manager

Overview

Plans, coordinates, and supervises all secondary marketing activities. Oversees and coaches’ registration, post-closing and loan delivery staff on day-to-day operations

• Oversee daily activities of subordinate staff. Conducts periodic performance reviews and makes hiring, salary and promotional recommendations. Provides training as needed.
• Responsible for all secondary marketing activities, which include registration, selling, pricing, shipping, delivery, post-closing and wholesale lending. Ensures compliance with product, secondary marketing, and investor guidelines.
• Monitors market interest rate risk. Provides operational support and timely information to determine interest rates of investor and portfolio products. Sells loans on the secondary market to balance risk with production in the mortgage production pipeline. Maintains adequate secondary market coverage.
• Tracks all secondary market commitments throughout the loan process. Ensures closed and funded loans meet commitment dates. Monitors pipeline for fallout and pair offs.
• Prepare ongoing reports on risk position, including Mark-to-Market and Position Reports, for finance, internal meetings and board meetings. Prepares weekly Rate Survey and other competitive products and pricing reports for Pricing Committee.
• Monitors secondary market pricing and competitor rates to ensure Bank Newport remains competitive while meeting internal profit guidelines.
• Works with manager to administer Correspondent Lending Broker Lending Programs including pricing, manuals, forms, product guidelines and participates in sales calls as needed.
• Keeps abreast of developments in residential lending. Ensures departmental operations are in compliance with applicable laws and regulations.
• Work collaboratively with mortgage sales and operations staff. Provide direction and guidance on credit policy items and operating procedures.
• Recommend and manage operational projects to improve processes and efficiencies and ensure we remain competitive with our product offerings and services
• Assure compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
• Communicates professionally in oral and written format with both internal and external customers

2-4 Direct Reports

Bachelors Degree or its equivalent in specialized course work and training. At least five years of first mortgage lending with an emphasis in secondary marketing. Strong understanding of secondary markets and pipeline management, guidelines and procedures for various investors, including FNMA, RIHMFC, FHA, VA and nongovernmental investors. Good analytical, organizational, communications, negotiation and technical skills.

Any physical demands or work conditions described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable Accommodation may be made to enable individuals with disabilities to perform the essential functions. Employees need to have the ability to:

• Travel independently to the position’s primary work location, other bank properties and work-related activities or events at locations outside the Bank.
• Effectively communicate and exchange accurate information and ideas so others will understand.
• Independently 0perate a computer and other office machinery, such as a calculator, copy machine, printer and software programs related to the position needed to complete the primary functions.
• Sit or stand at a workspace and use a computer or other equipment for prolonged periods of time.
• Meet the hybrid work schedule requirements for physically working in the office during normal business hours on Mondays and Wednesdays and another day of choice to effectively meet business needs.
• Move office items weighing up to 35 pounds.
• Work in an environment with low to moderate noise levels.

• We celebrate individuality
• We empower employees to be creative problem solvers
• We invest and take the time to really get to know our customers
• We commit to serving the financial needs of Rhode Islander’s

Bank Newport is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, sexual orientation, gender identity or expression, pregnancy, childbirth or related medical conditions, military service, marital status, or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.