In this position, the Manager, Settlements MBS will work closely with internal business partners to identify and implement MBS settlement solutions to meet the business requirements. In addition, this position will liaise with the Investment Management Teams, and with other key groups within the firm, including Portfolio Reconciliation, Mutual Fund Group, Structured Product desk, and Information Technology.
Subject Matter Expert providing front-line support to the trading desk and internal stakeholders on all MBS securities trading and settlement related issues.
Define and centrally own operational processes and procedures to manage and maintain high level accuracy in the Firm's MBS operations management reporting and processes
Manage team members whose primary responsibilities include settlement and processing of Mortgages, TBAs and Pools, following up with relevant groups regarding pay downs and factor discrepancies, cancel and rebills, CTAS and SPO adjustments, and researching/finding resolution for settlement issues and payment exceptions.
Oversee timely and accurate settlement and processing for TBA Rolls/Pair-Offs and Net Settlement reporting, Round Robin, Pool Delivery, in compliance with the 48 hours notification requirements. .
Develop experienced and competent staffs who understand the risk exposures associated with delays and inaccuracy in confirming and settling MBS trades and related life cycle events; Assignments, TBA Rolls, Pool delivery, factor and coupon updates,
Create and maintain large databases such as SharePoint or Excel.
Research and resolve custodial and counterparty issues, alongside the Reconciliation Team.
Capture and update failed settlement information for calculating and claiming TMPG failed charges; ensure timely filing and follow-up for outstanding claims; stay current with Industry updates/SIFMA TMPG Best Practices.
Create and implement scalable MBS operations management procedures to allow for future growth.
Drive high quality services by continuously identifying areas for process and systems improvements, and providing solution recommendations.
Heavy daily communication with internal and external business partners, including but not limited to: Custodians, Fund Administrators, Mutual Fund group, Brokers, Portfolio Reconciliation, Trade Room and MBS Desk.
Collaborate with our Investment Technology team to implement and/or enhance tools and applications for MBS operations processes.
Act as an escalation point person for issues that require troubleshooting, detailed analysis and management.
Evaluate, develop, and improve processes and procedures to achieve the operational objectives of the firm.
Manage best-in-class initiatives around risk mitigation and straight through processing.
Bachelor's Degree in Finance, Mathematics, Economics or similar field
5+ years of experience in MBS Settlements Management, preferably at a "buy side" firm
At least 3 years of experience in a supervisory or management capacity performing related duties
Willingness to be a "hands-on" manager. The manager will need to take ownership for all of the team's responsibilities
Broad functional understanding of MBS securities and related processes - Assignments, Pair-Offs, Round Robin, Pool delivery, and 48 hours notification requirements.
Knowledge of EPN (Electronic Pool Notification Systems) and Third-Party Service providers such as Bloomberg EPN, and/or Blackrock will be helpful
Basic understanding of SWIFT, trade matching OTM/CTM, OMGEO Connect, and ALERT is required.
Proven capability to manage and influence cross-functional teams
Excellent written and verbal communication skills for effective team management and building relationships with all stakeholders
Rigorous attention to detail, highly accurate with numerical calculations
Critical thinking ability with an eye for detail
Strong analytical and computer skills with a demonstrated proficiency in Microsoft Excel
Excellent research skills and problem solving capabilities
Self-motivated manager with ability to work independently as well as in a team environment