USAA is a financial services company focused on serving current and former members of the U.S. military and their families. Its offerings span banking, insurance, and investment products, supported by secure digital tools and member-focused service. The company brings together teams working across financial technology, risk, operations, and customer experience to help its members manage their financial lives.
Senior Mortgage Trader
Manage mortgage risk, trading, pricing, and settlements at USAA, supporting CompassPoint models, GSE data extracts, loan sales, and hedging strategy.
Description
- Coordinate with Hedging, Servicing Valuation, Loan Delivery, Pricing, Lock Desk, and Product Development teams.
- Maintain CompassPoint models for valuation, hedging, pricing, and GSE loan data extracts.
- Run pricing, pool optimization, and reporting activities.
- Provide coverage for the Lead Trader.
- Lead CompassPoint projects to establish counterparties, products, valuations, ULDD and PDD extracts, and tools.
- Improve CompassPoint design and processes for trade entry, allocations, pricing, bond settlement instructions, and GSE data extracts.
- Implement secondary marketing interest rate risk hedging and related mortgage hedging processes.
- Analyze data for mortgage pipeline activity, warehouse risk management, secondary marketing loan sale execution, data delivery, and settlements.
- Partner across functions to complete hedging activities and transactions.
- Ensure activities meet regulatory requirements and generally accepted accounting principles.
- Trade mortgage-backed securities and manage rate-lock interest rate risk for mortgage loans in the pipeline and warehouse.
- Execute complex interest rate hedging and related procedures with minimal supervision.
- Manage best execution for mortgage loan sales across mandatory, best-efforts, whole-loan, MBS, servicing-retained, and servicing-released channels.
- Support oversight and execution of real estate interest rate pricing models.
- Monitor trading and hedging policies and processes, and recommend improvements.
- Identify ways to improve operational effectiveness and take accountability for results.
- Present hedge review findings and trading exposures to senior finance and business executives.
- Recommend updates to trading and hedging strategies and modeling assumptions.
- Analyze risk, develop hedging strategies, and execute transactions to reduce exposure from mortgage servicing rights and other balance sheet items.
- Identify data trends and recommend actions to management.
- Coach less experienced colleagues on the job and advise on complex escalated issues.
Requirements
- Bachelor's degree in Finance, Economics, or a related field; four additional years of relevant experience beyond the minimum may substitute for a degree.
- At least six years of experience hedging mortgage origination pipelines using secondary marketing risk management systems.
- Advanced experience with AOT, MBS, and cash sales.
- Advanced knowledge of secondary market loan delivery and settlement systems.
- Understanding of financial markets, interest rate and price risk, and secondary mortgage markets.
- Advanced knowledge and application of generally accepted accounting principles for the mortgage and banking industry.
- Established relationships with participants in secondary mortgage markets.
- Experience developing mortgage pricing models.
- Strong knowledge and application of federal mortgage lending regulations and compliance.
- Ability to manage mortgage pipelines, price loans, and execute investor sales.
- Experience with pull-through study processes and familiarity with USAA operational workflows for categorizing pull-through stages.
- In-depth familiarity with USAA data mappings for Pipeline Warehouse File imports and resolving import errors.
- Experience using CompassPoint for GSE data extract mappings, data imports, import audit calculations, and valuation tasks.
- Proficiency in diagnosing CompassPoint reporting issues and resolving them promptly.
- Ability to produce accurate, standardized ULDD and PDD extracts that comply with GSE requirements.
- Experience with ULDD phases, including Phase 4a and Phase 5.
- Understanding of MBS transactions, back-office trade quality control, trade-related risk, and controls.
- Proficiency in SQL for complex financial data analysis, query writing, and data manipulation.
- Advanced Excel skills for financial modeling, data analysis, and reporting.
- USAA does not provide visa sponsorship; applicants must not need immigration support now or in the future.
Benefits
- Flexible work arrangement with office attendance four days per week.
- Relocation assistance.
- Performance-based pay incentives tied to corporate and individual results, at the discretion of the USAA Board of Directors.
- Comprehensive medical, dental, and vision coverage.
- 401(k) plan.
- Pension plan.
- Life insurance.
- Parental benefits.
- Adoption assistance.
- Paid time off program.
- Paid holidays.
- 16 paid volunteer hours.
- Wellness programs.
- Career path planning.
- Continuing education.