Job Category: Risk ManagementJob Description:Position Summary:The MSR Risk Manager will work closely with the SVP, Credit and Market Risk in performing second line oversight monitoring of the company's Mortgage Servicing Rights(MSR) valuation. The candidate will be a primary contributor to the MSR Valuation Committee on various levels: (i.e. provide secondary benchmarking, execute market trade analysis, perform new Capitalization analysis, compare MSR Asset sensitivity profile vs secondary benchmarks). The candidate will be the primary owner of MSR Sox control oversight for the Asset and Hedge positions ensuring controls are appropriately structured and executed. Candidate will be part of a broader Risk management team and collaboratively assist on responsibilities across Correspondent and Counterparty Credit Risk, Market Risk and Model Risk management.Job Functions and Responsibilities
Execute MSR control framework on timely basis ensuring proper documentation in place for evidence holding up to the standard of an Audit. Raise awareness to the extent there are breaches in any control thresholds under the metric/policy guidelines.
Coordinate with CIO team ensuring the requisite materials for the MSR Valuation Committee presentation are provided on a timely basis for presentation.
Participate in daily MSR Hedge position conversations raising consideration on current position and profile.
Facilitate gathering of information from secondary providers for use in credible challenge of the MSR valuation, profile and hedge.
Contribute to the Bi-Monthly Market Risk Committee via gathering hedge performance data and coordinating with CIO team on suitable materials to provide a fulsome program update for ELT.
Coordinate suitable responses for State Audits pertaining to the structure and design of the MSR hedge program
Gather pertinent MSR program information associated with Financing, Valuation, Hedging for use in updating the annual report to FHFA.
Serve in a second line review role for CIO validating monthly position and sensitivity profile updates.
Assist where needed in providing secondary support for Counterparty Credit team, Market Risk oversight, any new efforts undertaken in core Lending and Capital Markets that have potential market or Credit impact.
Qualifications:
A Bachelor's degree is required
Preferred candidate will have minimum of 2-3 years of experience in a financial services company, experience working with Mortgage Servicing Rights or consumer credit is preferred.
Strong communication, organizational and analytical skills is a must
Proven ability to create and interpret data/models for creating trend analysis for presentation to management level ability
High proficiency with Microsoft Office products and extensive experience in preparing executive-level PowerPoint presentations are required
High level of professionalism, self-motivation and a strong sense of urgency
About Us:Ocwen Financial Solutions Private Limited is a wholly-owned subsidiary of Onity Group Inc., 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 United States, focused on delivering a variety of servicing and lending programs. Liberty is one of the largest reverse mortgage lenders in the U.S., 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. Visit for details.
