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Overview:

Supports daily management of the Mortgage Division’s residential mortgage pipeline, and/or MSR valuation framework. Primary responsibilities include ensuring hedged rate locked pipeline and pipeline valuation components (OMSR) adheres to risk policies established by the Bank, and Mortgage Division achieves targeted loan profit margins established at time of rate lock.

Primary Responsibilities:

+ Research and analyze saleable mortgage loan pipeline; review daily rate locked loan position and assess appropriate loan coverage amounts.

+ Support residential mortgage servicing valuation (OMSR) framework using Mortgage Servicing Model (QRM/QSS).

+ Assist in managing Mortgage Division’s rate locked, salable pipeline within risk and trade limits. Under Senior Management supervision (Capital Markets Expert), execute tactical trading, analytics and reporting on the pipeline using Pipeline Management Model (QRM). Evaluation and review of MBS specified pools, coupon swaps, agency swaps and 30 versus 15 year relationships and specific trade recommendations will be presented to senior management to ensure activities are all within defined parameters and will receive management approval.

+ May develop analysis and/or presentations to convey key elements of mortgage pipeline risk, and risk mitigating strategies to senior management.

+ May author written commentary on economic, financial markets and regulatory issues and trends affecting management of residential mortgage loan pipeline.

+ May present MSR servicing bid valuations on targeted portfolio under guidance of Capital Markers Expert.

+ Monitor and understand GSE, GNMA, and other regulatory industry developments, as well as financial markets specific to residential mortgage markets (including mortgage servicing) and prepare summaries for senior management to ensure awareness of significant issues or changes, as appropriate. Maintain current familiarity with relevant regulatory material including GSE and GNMA loan eligibility and pooling rules, as well as Basel III capital rules impacting relevant segments of the mortgage originations and servicing businesses.

+ Work with outside parties, including investors, brokers, bankers, rating agencies, lawyers, trustees and other third party vendors to assist in managing the residential mortgage pipeline and portfolios.

+ Assist in managing the retained residential mortgage portfolio, which may include: a) coordinating efforts or conducting analyses on Return on Equity (ROE) or Return on Assets (ROA), b) analyzing portfolio pricing, c) participating in appropriate Bank or Division Committees, d) monitoring Key Risk Indicator (KRI) development, e) reviewing prepayment analysis and securitization analysis, and f) summarize material and present to senior management any issues or changes in tactics or strategy which may be necessary in managing the business.

+ Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.

+ Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.

+ Complete other related duties as assigned.

Scope of Responsibilities:

The capital markets activities are a significant component of the Mortgage Division’s risk management and revenue generation practices. The position interacts with other areas within the Bank, both within and outside Mortgage, including Finance, Operations, Sales, Treasury, and Credit to communicate market information and pipeline/portfolio performance. The jobholder provides guidance and training to less experienced personnel and serves as lead on group projects/portfolios. The position also interacts with the Wall Street dealer community as required to assist in managing the residential mortgage rate locked pipeline, and residential mortgage portfolios.

Education and Experience Required

Bachelor’s degree in business or mathematical field or related field and a minimum of 5 years’ buy or sell-side capital markets and/or fixed income experience with extensive knowledge of mortgage backed securities, or lieu in of a degree, a combined minimum of 9 years’ higher education and/or work experience, including a minimum of 5 years’ buy or sell-side capital markets and/or fixed income experience with extensive knowledge of mortgage backed securities.

Strong knowledge of pertinent word processing, email, spreadsheet and presentation software

Education and Experience Preferred:

Master’s degree in Business Administration (MBA) or Chartered Financial Analyst (CFA)

Prior Mortgage analyst and/or trading experience

Proficient in use of spreadsheet, database, graphing, presentation and department specific software, with a working knowledge of financial models

Visual Basic for Applications (VBA) or similar expertise

Previous experience with Bloomberg/Trade Web and portfolio management/bond modeling software

Strong analytical skills, including understanding of stochastic model output (i.e. OAS, OAD, OAC) and nuances of interest rate and prepayment modeling

Proficient in financial products pricing/fair value measurement theory

Current knowledge of a variety of fixed income instruments, including mortgage backed securities, agency, government, asset and derivatives

Strong verbal and written communication skills

Cross-functional collaboration skills

Detail-oriented

Strong organizational skills

Strong project management skills

Strong problem-solving skills

Ability to provide guidance to less experienced analysts

Familiar with relevant GSE/GNMA and other regulatory material

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $85,104.04 - $141,840.07 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Williamsville, New York, United States of America

M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer, including disabilities and veterans.