Director, AMF - Secondary Markets

Job Description:

The Director, Secondary Markets of Arch Mortgage Funding (AMF) will be responsible for leading people and projects to execute the secondary market activities of Arch’s mortgage conduit. This function at AMF includes responsibilities for developing pricing tools, evaluating the effectiveness and advising on alternative hedging strategies to mitigate interest rate risk associated with AMF’s positions, coordinating loan fundings, evaluating and executing loan disposition strategies, implementing portfolio management strategies to effectively manage AMF’s retained bond portfolio and building tools to evaluate loan performance to compare pricing assumptions to actual results.

This role is remote and must be based on the East Coast to ensure alignment with team operations and business hours.

ESSENTIAL RESPONSIBILITIES & ACCOUNTABILITIES

• Lead and develop AMF’s pricing initiatives including assessment of all relevant modeling assumptions (credit spreads, structures, etc.), LLPAs, and comparison of loan performance assumptions against actual results (CPR/CDR/Loss severity). The position will also be responsible for delivery of AMF pricing to our customers and will be responsible for lock desk oversight.
• Evaluate and execute exit strategies for AMF’s aggregated loans including whole loan sales and securitization. This includes working with the VP and SVP to develop take out buyers, negotiate MLPAs, review securitization documents and negotiate financing agreements as required.
• Recommend to senior management and implement portfolio management strategies to manage and hedge pricing and interest rate risks associated with AMF’s pipeline, closed loan, and retained bond positions.
• Responsible for daily evaluation and maintenance of AMF’s position consisting of NQM mortgage loans, a locked loan pipeline, short positions used to hedge rate risk, and a retained bond portfolio.
• Coordinate with AMF management and operations to direct and design reports to assess the performance and effectiveness of secondary markets strategy and objectives.
• Direct the design and creation of tools to track market performance and assess the implications and impact of market moves to AMF’s positions.
• Establish and develop relationships with multiple platform vendors to accomplish secondary market’s goals and objectives including: fulfillment, servicing, master servicing, bond administration, ratings agencies, custodian, hedge advisor, and trustee.
• Investor relations inclusive of:
  • Serve as the primary liaison to non-agency investors, managing pricing, delivery, and performance feedback loops.
  • Represent the company in investor due diligence sessions, capital markets meetings, and client onboarding discussions.
  • Provide market intelligence and product education to clients and internal stakeholders.
• Directs the work of the senior analyst to design tools and create processes to monitor portfolio performance and/or address seller concerns to ensure compliance with AMF’s risk tolerance and recommend appropriate courses of corrective action as required.

Required Knowledge & Skills

• 3-5 years direct experience working in mortgage and secondary markets including familiarity with private label RMBS deal structures, cash flow modeling, and the related bond math.
• Proficiency with capital markets platforms (e.g., MCT, Bloomberg, Intex, Yield Book).

Desired Knowledge & Skills

• Basic familiarity with contract finance as it pertains to Mortgage Loan Purchase Agreements, warehouse financing/repo agreements, and securitization deal documents.
• Experience with private-label securitizations and whole loan trading particularly as they relate to NQM and DSCR mortgage transactions.

Required Education & Experience

• Bachelor’s degree or equivalent in business, finance, economics or relevant market experience.

Desired Education & Experience:

• Preferred Master’s degree (or pursuit of advanced Finance Education (CFA, et.al.) in business, economics, finance or related field or relevant market experience.