Hedging & Trading Specialist
Position Overview:
The Hedging & Trading Specialist is a hands-on seat on the capital markets desk with a primary focus on Non-QM loan committing and hedging support. The role prices and commits Non-QM production to investors and aggregators, tracks those commitments through delivery, and maintains the daily data and reporting that support the Company's interest rate hedge.
Ideal candidates for this position will have (1) 2-3 years of mortgage banking or financial services experience; (2) strong Excel skills; and (3) demonstrated accuracy and attention to detail working to a market-driven schedule.
Essential Functions of the Role:
- Price and commit Non-QM loans to investors and aggregators, entering commitments accurately and confirming terms.
- Prepare the daily hedge package for the Senior Trader, summarizing exposure by coupon and product, current position, and pipeline changes.
- Pull and reconcile the daily loan-level pipeline across the loan origination system, pricing engine, and hedge analytics platform.
- Build and submit bid tapes, and track bid results, fill rates, and pricing by counterparty.
- Maintain the commitment calendar, including delivery windows, expiration/extension deadlines, and roll or pair-off exposure.
- Track committed loans through funding, including purchase advice reconciliation and resolution of price variance, delivery, and suspense issues.
- Enter trades as directed and reconcile dealer confirms, settlements, and pair-offs.
- Track daily lock volume, extensions, fallout, and pull-through, and maintain the underlying assumption history.
- Support daily rate sheet production, validating investor price changes, margin updates, and product changes.
- Run competitor pricing comparisons, flag anomalies, and support sales and the lock desk on pricing and lock-policy questions.
- Produce recurring daily, weekly, and month-end secondary marketing, hedge reconciliation, and P&L reports.
- Other duties as assigned.
- Classification: Full Time, Non-Exempt
- Hedging & Trading Specialist
- Essential Knowledge/Skills/Abilities:
- Advanced Excel skills, including pivot tables, XLOOKUP/INDEX-MATCH, and SUMIFS, with comfort working in large data sets.
- Demonstrated accuracy and attention to detail, particularly working to a market-driven schedule.
- Clear, direct written and verbal communication with internal teams and external counterparties.
- Ability to work independently and proactively surface questions rather than guess.
- Working knowledge of fixed income, derivatives, or financial market concepts.
- Familiarity with mortgage-backed securities, TBA mechanics, and basic hedging concepts.
- Strong analytical and problem-solving ability.
- Technical proficiency in SQL, Power Query, VBA, or Python.
Experience Requirements:- Minimum of two (2) years of professional experience in mortgage banking or financial services (lock desk, secondary marketing, post-closing, loan delivery, capital markets operations, or a comparable analytical role) required.
- Exposure to Non-QM products (Bank Statement, DSCR, 1099, non-agency Full Doc) preferred.
- Exposure to a loan origination system, pricing engine, or hedge analytics platform preferred.
- Education / Licensing Requirements:
- Bachelor's degree in Finance, Economics, Mathematics, Accounting, Business, or a related field, or equivalent mortgage industry experience in lieu of a degree, required.
- Coursework or self-study in fixed income, derivatives, or financial markets preferred.
Working Conditions:
Fast-paced, market-driven environment.
Requires normal vision (corrected) both close and distant.
Requires normal hearing levels (corrected).Requires working at a desk to use a phone and computer for extended periods of time.
Requires sitting, bending.
Works effectively with frequent interruptions.
Lifting requirements of 10 lbs. occasionally.
Minimal travel
