Secondary Marketing

1 month ago

Oak Ridge, United States ORNL Federal Credit Union Full time
The deadline to apply for this opportunity is November 3, 2024.This position is based in the Oak Ridge/Knoxville, TN area.

Role: Secondary Marketing: The incumbent will be responsible for developing and executing a comprehensive pricing strategy across all lending verticals in collaboration with leadership and finance teams. Specifically focusing on mortgage lending, the incumbent will develop, maintain, and implement a robust pricing structure. This includes monitoring the bond market and secondary mortgage market to inform pricing decisions, assessing and maintaining our competitive position, and establishing daily mortgage prices/rates for use by ORNL Federal Credit Union originators. Additionally, the role involves overseeing the daily risk position, ensuring the best execution of loan deliveries into the secondary market, and serving as the primary contact with investors for loan sales.

Credit Administration: The Credit Administration Officer will assist in overseeing the responsibilities of the credit manager within the lending department of ORNL FCU. This role involves supporting the development and implementation of credit policies and procedures, ensuring compliance with credit union lending policy, state and federal regulations, and maintaining the quality of the credit portfolio to meet credit union goals and objectives. The officer ensures strong credit quality while maintaining concentration risk metrics and the safety and soundness of the portfolio. Collaborating closely with the credit manager, the officer will review and approve loan applications, monitor credit risk, and provide guidance on complex credit issues. Additionally, the role includes preparing reports for senior management and officials, conducting credit analysis, and participating in the development of strategies to enhance the credit union's lending operations. With the goal of delivering the ORNL winning proposition in support of the organization's commitments to its members and community alike, the officer must have a strong knowledge of consumer, mortgage, and commercial lending, and must maintain the ability to stay current on all changes affecting the credit union and communicate these changes to ensure compliance.

Essential Functions & Responsibilities -
  • Supports the creation of a comprehensive pricing program, including protocols and processes, to align with credit union strategies for consumer, commercial, and mortgage loan pricing, and aids in developing and executing a mortgage loan sales strategy.
  • Responsible for the oversight of all Secondary Marketing functions to include, but not limited to, primary mortgage rate setting and market monitoring, loan best execution and sales activities, loan pull through modeling and respective pricing systems.
  • Manage internal departmental relationships and serve as the primary point of contact for the Secondary Marketing department for collaborative efforts.
  • Responsible for the preparation and distribution of all management reporting related to pricing, interest rate risk management, loan sales, fallout analysis, ALCO updates and any other reports deemed important while being able to articulate results, in addition to complex analysis, to peers and executive leadership to influence decisions and solve problems.
  • Provide support for any pricing related questions or escalated pricing exception requests.
  • Provides leadership and guidance to the lending Lines of Business (Commercial, Mortgage & Consumer) specific to secondary marketing and credit administration.
  • Provides leadership through accountability and regular communication. Coach, develop, and inspire indirect reports to meet or exceed performance objectives and organizational goals.
  • Set goals, monitor work, and evaluate results to ensure that departmental and organizational objectives and compliance requirements are met and are in line with the needs and mission of the credit union.
  • Continual assessment and optimization of ORNLs loan portfolio performance utilizing data analytics tools and insights to maximize ORNLs loan-to-deposit ratio. Maintains a high credit quality within the loan portfolio by continually evaluating underwriting standards and overseeing the ongoing monitoring of the loan portfolio.
    Collaborates with the credit manager and VP of Collections to develop strategies that prevent portfolio degradation, ensure accurate risk rating assignments, and maintain appropriate reserve levels.
  • Serves as a member of loan committee meetings.Addresses credit quality, loan approvals, internal reporting and any other matters requiring committee approval across all lines of business.Serves as a member of the Allowance for Loan Loss Reviews Committee meetings to ensure that reserves are adequate and in compliance with appropriate accounting guidance, regulatory needs and internal assessments.
  • Serves as a member of the ALCO Committee to ensure that the credit union maintains sufficient levels of capital, liquidity and profitability. Develops strong familiarity with loan production, prepayment speeds, growth and yield goals, Funds Transfer Pricing methods, Profitability reporting, Concentration Risk limits, credit quality metrics (including delinquency ratios) and other internal reporting. Presents pricing proposals for committee review.
  • Assists in the ongoing maintenance of loan policy, including periodic revisions and required annual approvals. Assesses and updates lending policy guidelines to meet all safety and soundness requirements along with prudent underwriting criteria. Develops policy compliance reporting to ensure that all relevant policy limits are monitored and any differences are promptly addressed.
  • Assists in the creation and ongoing maintenance of the secondary marketing policy and procedures including periodic revisions and required annual approvals. Assesses and update guidelines to meet all safety and soundness requirements along with prudent pricing and loan sale criteria. Develops policy compliance reporting to ensure that all relevant policy limits are monitored and any differences are promptly addressed.
  • Set goals, monitor work, and evaluate results to ensure that organizational objectives and compliance requirements are met and are in line with the needs and mission of the organization.
  • Ensures the Credit Union is in compliance with all lending regulations; develops procedural changes as compliance requires or new programs demand. Frequent interaction with NCUA examiners is required to ensure that all issues are understood, corrective actions are performed and communications are appropriate. Ensures that any other internal or external audit findings are addressed promptly and appropriately.
    Communicate and work closely with other members of the leadership team and successfully collaborates with departments across the organization to achieve revenue goals and customer experience targets
  • Performs other job-related duties as assigned.
Experience: Ten or more years in financial institutions, specifically with direct responsibility for lending functions. The ideal candidate will have a proven track record as a Credit Manager, with oversight of Consumer, Collections, Residential, and Commercial lending credit functions. Additionally, candidates must demonstrate expertise in secondary marketing to include mortgage loan sales, underwriting practices, loan products, loan promotions, and pipeline management.

Education: Bachelor's degree in Business Administration, Finance or related field preferred; or an equivalent combination of education and experience, is required. Advanced degree or advanced coursework preferred.

Other skills required:
  • Must have in depth understanding of and ability to interpret regulations affecting lending programs.
  • Must possess extensive knowledge of consumer, commercial and real estate lending practices and procedures.
  • Ability to read and interpret complex documents and to respond effectively to sensitive inquiries or complaints.
  • Must have high proficiency with Word, Excel, PowerPoint and Outlook.
  • Excellent written and verbal communication skills required with the ability to effectively interact with all levels of the organization.
  • Must have ability to prioritize demands from multiple projects.
  • Must possess good data analysis skills.


Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

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