Director, Non Agency RMBS Trader

Job Description

POSITION TITLE: Director, Non-Agency RMBS Trader

Position Summary

The Onity Capital Markets Trading team is seeking an individual to lead our Non-Agency Trading initiatives. This person will report to the VP, Capital Markets Trading and involves building and managing pricing models, developing and enhancing rate sheets, executing WL and RMBS trading & hedging strategies among other responsibilities. The candidate will work closely with team members to optimize existing Agency and Non-Agency strategies, manage interest rate and credit risks, and contribute to revenue generating ideas. The successful candidate will have a strong understanding of Capital Markets and the Residential Mortgage Industry. This role provides an opportunity to be part of a fast-paced, dynamic and collaborative team.

Key Responsibilities

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily

• Develop non-agency execution pricing models, margin management processes, and pipeline hedging frameworks for new products, including non-QM loans, second liens, and proprietary reverse mortgage products
• Build strong relationships with Broker Dealers and RMBS market participants to improve product liquidity across Flow, Bulk, or Securitization executions
• Support existing Traders with MBS and HMBS BWICs, Cash Window Sales, and other WL Sales
• Act as a liaison between leadership, team members, internal teams, vendors, and external trade desks to ensure seamless operations and effective communications
• Design, build, and maintain non-agency rate sheet models and RMBS trading & hedging programs to provide meaningful insights and recommendations to internal teams
• Enhance reports used to monitor daily position & activity, ensuring an accurate pipeline and ability to provide detailed revenue attributions
• Create and maintain comprehensive market analytics to monitor industry trends, including volumes, market share, and prepayment and delinquency rates
• Highlight relative value opportunities to the team using both fundamental and technical market insights
• Ensure robust trading & hedging management by adhering to policies, procedures, and controls
  
  

Qualifications

To perform this job successfully, an individual must have the following education and/or experience:

• Bachelor’s degree required with focus in Finance, Economics, Mathematics, Statistics or a related field preferred
• 3+ years of experience in secondary marketing, trading, or capital markets, with a specific focus on RMBS, ABS, MBS, HMBS or related financial instruments
• Experience in Second Liens and Proprietary Reverse is highly desirable Strong analysis capabilities, with a track record of building and using analytical tools to drive decision-making
• Strong technical skills in Microsoft Excel (advanced) and Bloomberg, experience with SQL or Python programming preferred
• Strong relationship management skills with the ability to interface confidently with internal & external parties
• Demonstrated and proven ability to multi meet deadlines in a fast-paced and dynamic environment
• Proven communication skills up to and including C-Suite level presentations
• Self-motivated, capable of working independently
• Knowledge of Compass, MIAC, QRM, Baseline, New View, Bloomberg, and Intex preferred
  
  

Training & Licensing Requirements

• Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.
  
  

The salary range for this position is expected to be $170,000 – $190,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for annual bonus based on performance and subject to the terms of the Company’s applicable plans.

#Onity

About Us

Onity Group Inc. is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. Onity Group Inc. and its subsidiaries are committed to helping homeowners and delivering exceptional service and value to customers, clients and investors.

At Onity Group Inc., we consistently deliver on our commitments to customers, clients, investors and colleagues through caring service, integrity and creative solutions. This Service Excellence philosophy is embraced by meeting service standards we call CARE, which stands for Caring, Accurate, Responsive and Empowered. We expect all employees to interact and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our CARE standards.

Onity Group Inc. is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity, Equity & Inclusion ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including medical, dental and vision; up to 3% match on 401(k) contributions; generous paid time off; company-paid life, accident and disability coverage; programs for mental, physical and financial wellness; and more. Visit jobs.onitygroup.com for details.