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Acquisitions Manager
Union Bank
Palo Alto, CA, United States
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The MSR Acquisitions Manager will oversee the purchase, settlement, and transfer of bulk and flow MSR purchases. In addition the candidate will create and maintain policy and procedures around the MSR acquisition process. The scope will include deal sourcing, price discovery, market surveillance, point on due diligence and contract negotiations, and liaison between internal MSR transfer group and the counterparty.
Major Responsibilities:
35% Transaction Management:
Coordination of the overall transaction management process from trade execution, due diligence to settlement/post settlement, with all financial controls, data submission and customer impact administered in compliance with bank and regulatory requirements. Coordination of all external and internal functional support to complete onboarding activities, post settlement process and deal reconciliation. Maintain a deal calendar/ marketing plan in order to keep all internal parties aware of MSR activity. Responsible to review and opine on business issues relative to the asset purchase agreement and to be the liaison between the business unit and legal department. Timely resolution of issues is expected.
15% Deal Generation:
Utilize personal relationships and/ or the broker community to source deals. Supplement bulk buying with flow arrangements with key counterparties. Build out the list of approved MSR counterparties. Foster relationships with repeat sellers to gain operational efficiencies. 10% Market Surveillance: Analysis and development of MSR market overview to include review of new origination trends, quarterly review of MSR transfers and related best execution pricing of co-issue, bulk/mini-bulk and GSE/Cash Servicing Released execution to support optimal portfolio acquisition and portfolio performance. Coordination of MSR broker meetings, analysis of GSE disclosures and related research to evaluate market sellers versus buyers, bank versus non-bank participants and impact of regulatory capital constraints on market participants. Research and report on salient factors (tax, regulation, etc.) impacting the overall MSR market.
25% Documentation, Policy and Procedures, Project Management, Strategy:
Create and maintain a data library for all MSR activity for internal use and audit trails. Document the end-to-end MSR purchase process, including pricing, diligence, settlement, transfers, and holdbacks. Be the project manager for all MSR related initiatives, including acquisitions, hedging, pricing, and overall governance. Work with Capital Markets, Servicing, Risk, ALCO and Finance to drive and evolve the MSR Acquisitions strategy.
15% MSR Portfolio
Risk Management through Use of Natural Hedge Lever existing and develop new capabilities to help protect the MSR portfolio from prepayments. Work with Marketing, Servicing and Originations to identify and prioritize customers for refinance efforts. Act as liaison with Marketing, Retail Branches, Private Banking and Wealth Management to broaden purchased customer relationships
Qualifications
Education, Licensure, Year of Experience (and type of work experience): 15+ years of experience in Consumer Finance, Residential Lending and Mortgage Banking. 15+ years of experience in Capital Markets, Secondary Marketing and Investor Relations. 10+ years of experience in MSR acquisition, MSR valuation/hedging and servicing operations. Experience in data mining, data analysis, with mortgage underwriting and GSE’s rep/warrant experience.
The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.