Manager

MANAGER MORTGAGE BANKING SECONDARY MARKETING WHAT IS THE OPPORTUNITY? Responsible for all aspects of product, pricing, hedging, and trading of residential mortgage loans that are designated as Held for Sale as well as Held for Investment. Aligned with the bank's broader Risk Appetite Statement, this role will be responsible for recommending, managing, and implementing product design/guidelines and execution strategies. This position will own/manage segment level P&L for the origination, processing/manufacturing, sale/securitization, and servicing of residential mortgage loans. Responsibilities will include executing pooling and delivery to the Agencies and whole loan sales to private investors. Responsible for cross-functional partnership with leaders across CNB's US Mortgage Banking group. Core mission is to support the safety/soundness of CNB and to develop best in-class processes, policies and procedures that align with regulatory processes and documentation. The Capital Markets Manager will also partner internally with the finance, data, operations, legal, and risk teams to provide a markets/funding perspective on revenue forecasting, product strategy and operational requirements. The colleague is responsible for developing and implementing new secondary market and portfolio/in-house mortgage programs, as well as, enhancements or modifications to existing programs. This position is a senior level position within CNB and is to provide secondary market and capital markets leadership across the entire residential lending footprint from sales to production and servicing operations. WHAT WILL YOU DO? Develop and lead mortgage secondary market activities and initiatives Develop and manage product, investor, trading/counterparty relationships Identify and develop new investors that align with high liquidity and safe/sound banking execution Optimize profitability through best execution analysis (product, pricing, counterparty and operational in nature) Consistently execute with best-in-class benchmarks to Agencies and private investors Work closely with the Residential Lending Product and Pricing team to create and implement pricing strategies and production reporting Coordinate with Treasury on balance sheet management and hedging as needed Execute Fannie Mae pooling commitments. Execute Fannie private investor cash loan sales. Seek best execution with pooling and cash sales. Oversee the sales/pools with Post-Closing/Shipping and Mortgage Accounting. Provide guidance and access to appropriate mortgage loan programs, keeping current with any changes in the market, whether it is a new loan program or enhancements to existing loan programs. Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity. Develop liquidity options/chambers in partnership with Treasury and other stakeholders for both on balance sheet and off-balance sheet structures. Develop loan sale, retained, and released strategies for MSRs, in connection with emerging regulatory guidance and effects on banks. Develop and lead mortgage secondary market activities and initiatives Develop and manage product, investor, trading/counterparty relationships Identify and develop new investors that align with high liquidity and safe/sound banking execution Optimize profitability through best execution analysis (product, pricing, counterparty and operational in nature) Consistently execute with best Work closely with the US Mortgage Banking Product and Pricing team to create and implement pricing strategies and production reporting Coordinate with Treasury on balance sheet management and hedging as needed Execute Fannie Mae pooling commitments. Execute Fannie private investor cash loan sales. Seek best execution with pooling and cash sales. Oversee the sales/pools with Post Provide guidance and access to appropriate mortgage loan programs, keeping current with any changes in the market, whether it is a new loan program or enhancements to existing loan programs. Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity. Develop liquidity options/chambers in partnership with Treasury and other stakeholders for both on balance sheet and off Develop loan sale, retained, and released strategies for MSRs, in connection with emerging regulatory guidance and effects on banks. WHAT DO YOU NEED TO SUCCEED? Required Qualifications* Bachelor's Degree or equivalent 20+ years of experience in residential mortgage secondary marketing 10+ years of experience dealing with Fannie/Freddie affordability programs such a as Home Ready or Home Possible is strongly preferred 15+ years of experience with delivery to Fannie Mannie/Freddie Mac 10+ years of experience with sales of non-Agency / non-QM loans 10+ years of experience with structuring private-label residential mortgage-backed securities 15+ years of mortgage pricing engine software implementation experience Additional Qualifications Strong collaboration and team skills with a focus on cross-group collaboration Strong leadership experience with the ability to effectively manage and engage teams Skill in collecting and analyzing complex data Strong critical thinking skills with ability to frame business issues and apply data analysis to support strategic decision-making Strong collaboration and team skills with a focus on cross-group collaboration. Strong leadership experience with the ability to effectively manage and engage teams. Skill in collecting and analyzing complex data. Strong critical thinking skills with ability to frame business issues and apply data analysis to support strategic decision-making. WHAT'S IN IT FOR YOU? *Compensation Starting base salary: $195,995 - $364,003 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions. Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including: Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date Generous 401(k) company matching contribution Career Development through Tuition Reimbursement and other internal upskilling and training resources Valued Time Away benefits including vacation, sick and volunteer time Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs Career Mobility support from a dedicated recruitment team Colleague Resource Groups to support networking and community engagement Get a more detailed look at our Benefits and Perks. ABOUT US Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us. INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job. #J-18808-Ljbffr