Sandy Spring Bank
Director - Capital Markets
Sandy Spring Bank, Olney, Maryland, us, 20830
About Us:Are you someone who seeks opportunity and has a true desire to grow your career with an organization that has enriched the lives of its clients and communities in the Greater Washington region for more than 150 years? If so, Sandy Spring Bank may be the perfect fit for you!
Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. We are proud to have been certified as
A Great Place To Work
, recognized by
The
Washington Post
and the
Baltimore Sun
as a Top Workplace, by
Forbes
magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us: people and relationships.
To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.
About the Job:Sandy Spring Bank is hiring for a Director for Capital Markets. This person is responsible for managing the Mortgage Division’s Capital Markets, Product Development, Post-Closing, Finance, Consumer Product, and Pricing functions. Key responsibilities include pricing loan products, structuring sales transactions consistent with acceptable profit and risk objectives, and developing and maintaining investor and broker dealer relationships to ensure the sale of company's loans. Responsible for pricing structures and determining/developing future consumer loan products to achieve the desired investor base, product coverage, portfolio mix, and pricing to meet company objectives. Directs budget and cost controls, financial analysis, and accounting practices and reports. Analyzes and interprets financial data and recommends changes to improve financial performance. Conducts general business planning. Responsible for ensuring a robust risk and control framework is maintained across Capital Markets and Accounting Functions.
MAJOR JOB ACCOUNTABILITIES:Capital Markets:
Coordinates all residential capital markets functions and staff for the Consumer Lending Division. Ensures that capital markets strategies are executed in a timely and efficient manner to meet the philosophy and profitability goals as determined by executive management. Manages pipeline interest rate risk through a TBA MBS hedging program. Analyzes market conditions and develops a loan sale strategy utilizing a diverse execution strategy to maximize profitability. Executes balance sheet optimization strategies through private whole loan bulk sales of bank portfolio product. Analyzes bond market daily and keeps up with the daily economic news, indicators, and any new advances in mortgage banking. Creates and manages a valuation program for Mortgage Servicing Rights (MSR). Recommends and executes MSR hedging strategies as appropriate. Maintains a positive posture to the needs of our production network by providing competitive loan products and prices. Develops a robust set of Policies and Procedures which govern all Capital Markets and MSR functions in compliance with Federal and State Laws and Regulations. Maintains positive relationships with the Divisions Capital Markets counterparties.
Project Management:
Coordinates major project initiatives across the Consumer Lending Division. Manages the creation and implementation of new workflows as well as implementation and onboarding of new vendors.
Post-Closing:
Responsible for the management of the post-closing staff. Ensures loans are booked, shipped, purchased, and insured in a timely and efficient manner. Identifies loan defects and coordinates with appropriate department heads to ensure loan salability on the secondary market. Conducts exception negotiations with investors when a defect is not able to be cured in an attempt to have the loan purchased.
Finance:
Oversees all Division accounting practices, including accounting department, account reconciliations, preparing budgets, and financial reports; Directs Division financial strategy, planning, and forecasts.
Correspondent Lending:
Responsible for the management and development of the Division’s Correspondent Lending channel. Serves as Relationship Manager for existing Correspondent clients as well as responsible for new business development. Manages correspondent loan pipeline and resolves client problems through the engagement of outside departments.
Portfolio Pricing:
Responsible for setting the rates for SSB Portfolio product (Residential, Home Equity, Consumer, and Small Business) with the profitability goals as defined by senior management and Treasury. Performs market surveys to ensure that portfolio products are priced competitively. Represents Consumer Lending on and communicates pricing strategy to the Loan Rate and Strategy Committee.
Product Development & Management:
Proactively identifies product needs and seeks to develop both new Secondary Market and Portfolio loan products (residential, home equity, consumer, and small business). Engages with senior bank leaders to ensure newly developed products meet the credit, operations, reputational, and interest rate risk appetite for the bank.
Business Analytics:
Works with corporate partners to develop business intelligence and analytical processes which provide greater clarity on the Division’s operations, efficiency, and profitability.
Management Team:
Actively participates as a part of the management team in the development of budgets, strategic plans, and stakeholder models as well as in general management problem-solving activities.
Supervision of Employees:
Provides routine coaching, training, and assistance for direct reports to develop knowledge, skills, and abilities to maximize performance and potential. Documents performance and completes performance review forms in a timely manner.
Model Risk Management:
Responsible for managing the Division's model risk management program (hedging model and mortgage servicing rights valuation model) in accordance with regulatory requirements and corporate policy as determined by Enterprise Risk Management.
Required Skills:
Position requires the equivalent of a bachelor’s degree in a job-related field with at least 10 years of experience in mortgage banking and financial services to acquire familiarity with mortgage banking principles, accounting and financial management principles, and the secondary mortgage markets. Strong organizational skills and aptitude for math required. Supervisory experience or a demonstrated ability to supervise required. Master’s Degree in Finance or a related field is preferred.
Advanced computer skills needed to maintain computerized tracking systems. Experience using spreadsheet, database, and word processing programs required.
Advanced computer problem-solving skills required to find solutions to problems that are technically complex and require collection, interpretation, and analysis of data from diverse sources. Must be able to organize and prioritize work in order to meet scheduled deadlines.
Accuracy and attention to details are required as errors may not be subject to direct verification and may result in financial loss to the company.
Duties require internal and external contacts to resolve more difficult problems, clarify company procedures and policies, and obtain cooperation. Good interpersonal skills are needed which include the use of sensible judgment, tact, and persuasion to obtain desired results and maintain positive rapport.
Work is under minimal supervision where independent judgment is required in the interpretation of existing policies and procedures. Plans and arranges own work, referring only very unusual matters to supervisor.
SPECIFIC PHYSICAL REQUIREMENTS:
Work requires reasonable mobility in and around the work area. Ability to use standard computer and phone systems is required.
WORKING CONDITIONS:
Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements. Work includes little or no potential exposure to hazardous conditions. Must be able to travel to remote company and/or client locations.
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Compensation Information:At Sandy Spring Bank, compensation is one part of our total rewards package. Compensation within the range will depend on your skills, qualifications, education, experience, and location. Additionally, full-time and part-time positions may be eligible to participate in department or company-wide incentive plans.
Additional Information:Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-399-5919 and select option 5. Requests are considered on a case-by-case basis.
Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.
#J-18808-Ljbffr
Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. We are proud to have been certified as
A Great Place To Work
, recognized by
The
Washington Post
and the
Baltimore Sun
as a Top Workplace, by
Forbes
magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us: people and relationships.
To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.
About the Job:Sandy Spring Bank is hiring for a Director for Capital Markets. This person is responsible for managing the Mortgage Division’s Capital Markets, Product Development, Post-Closing, Finance, Consumer Product, and Pricing functions. Key responsibilities include pricing loan products, structuring sales transactions consistent with acceptable profit and risk objectives, and developing and maintaining investor and broker dealer relationships to ensure the sale of company's loans. Responsible for pricing structures and determining/developing future consumer loan products to achieve the desired investor base, product coverage, portfolio mix, and pricing to meet company objectives. Directs budget and cost controls, financial analysis, and accounting practices and reports. Analyzes and interprets financial data and recommends changes to improve financial performance. Conducts general business planning. Responsible for ensuring a robust risk and control framework is maintained across Capital Markets and Accounting Functions.
MAJOR JOB ACCOUNTABILITIES:Capital Markets:
Coordinates all residential capital markets functions and staff for the Consumer Lending Division. Ensures that capital markets strategies are executed in a timely and efficient manner to meet the philosophy and profitability goals as determined by executive management. Manages pipeline interest rate risk through a TBA MBS hedging program. Analyzes market conditions and develops a loan sale strategy utilizing a diverse execution strategy to maximize profitability. Executes balance sheet optimization strategies through private whole loan bulk sales of bank portfolio product. Analyzes bond market daily and keeps up with the daily economic news, indicators, and any new advances in mortgage banking. Creates and manages a valuation program for Mortgage Servicing Rights (MSR). Recommends and executes MSR hedging strategies as appropriate. Maintains a positive posture to the needs of our production network by providing competitive loan products and prices. Develops a robust set of Policies and Procedures which govern all Capital Markets and MSR functions in compliance with Federal and State Laws and Regulations. Maintains positive relationships with the Divisions Capital Markets counterparties.
Project Management:
Coordinates major project initiatives across the Consumer Lending Division. Manages the creation and implementation of new workflows as well as implementation and onboarding of new vendors.
Post-Closing:
Responsible for the management of the post-closing staff. Ensures loans are booked, shipped, purchased, and insured in a timely and efficient manner. Identifies loan defects and coordinates with appropriate department heads to ensure loan salability on the secondary market. Conducts exception negotiations with investors when a defect is not able to be cured in an attempt to have the loan purchased.
Finance:
Oversees all Division accounting practices, including accounting department, account reconciliations, preparing budgets, and financial reports; Directs Division financial strategy, planning, and forecasts.
Correspondent Lending:
Responsible for the management and development of the Division’s Correspondent Lending channel. Serves as Relationship Manager for existing Correspondent clients as well as responsible for new business development. Manages correspondent loan pipeline and resolves client problems through the engagement of outside departments.
Portfolio Pricing:
Responsible for setting the rates for SSB Portfolio product (Residential, Home Equity, Consumer, and Small Business) with the profitability goals as defined by senior management and Treasury. Performs market surveys to ensure that portfolio products are priced competitively. Represents Consumer Lending on and communicates pricing strategy to the Loan Rate and Strategy Committee.
Product Development & Management:
Proactively identifies product needs and seeks to develop both new Secondary Market and Portfolio loan products (residential, home equity, consumer, and small business). Engages with senior bank leaders to ensure newly developed products meet the credit, operations, reputational, and interest rate risk appetite for the bank.
Business Analytics:
Works with corporate partners to develop business intelligence and analytical processes which provide greater clarity on the Division’s operations, efficiency, and profitability.
Management Team:
Actively participates as a part of the management team in the development of budgets, strategic plans, and stakeholder models as well as in general management problem-solving activities.
Supervision of Employees:
Provides routine coaching, training, and assistance for direct reports to develop knowledge, skills, and abilities to maximize performance and potential. Documents performance and completes performance review forms in a timely manner.
Model Risk Management:
Responsible for managing the Division's model risk management program (hedging model and mortgage servicing rights valuation model) in accordance with regulatory requirements and corporate policy as determined by Enterprise Risk Management.
Required Skills:
Position requires the equivalent of a bachelor’s degree in a job-related field with at least 10 years of experience in mortgage banking and financial services to acquire familiarity with mortgage banking principles, accounting and financial management principles, and the secondary mortgage markets. Strong organizational skills and aptitude for math required. Supervisory experience or a demonstrated ability to supervise required. Master’s Degree in Finance or a related field is preferred.
Advanced computer skills needed to maintain computerized tracking systems. Experience using spreadsheet, database, and word processing programs required.
Advanced computer problem-solving skills required to find solutions to problems that are technically complex and require collection, interpretation, and analysis of data from diverse sources. Must be able to organize and prioritize work in order to meet scheduled deadlines.
Accuracy and attention to details are required as errors may not be subject to direct verification and may result in financial loss to the company.
Duties require internal and external contacts to resolve more difficult problems, clarify company procedures and policies, and obtain cooperation. Good interpersonal skills are needed which include the use of sensible judgment, tact, and persuasion to obtain desired results and maintain positive rapport.
Work is under minimal supervision where independent judgment is required in the interpretation of existing policies and procedures. Plans and arranges own work, referring only very unusual matters to supervisor.
SPECIFIC PHYSICAL REQUIREMENTS:
Work requires reasonable mobility in and around the work area. Ability to use standard computer and phone systems is required.
WORKING CONDITIONS:
Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements. Work includes little or no potential exposure to hazardous conditions. Must be able to travel to remote company and/or client locations.
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Compensation Information:At Sandy Spring Bank, compensation is one part of our total rewards package. Compensation within the range will depend on your skills, qualifications, education, experience, and location. Additionally, full-time and part-time positions may be eligible to participate in department or company-wide incentive plans.
Additional Information:Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-399-5919 and select option 5. Requests are considered on a case-by-case basis.
Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.
#J-18808-Ljbffr