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Director, Capital Markets Financial Planning & Analysis

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Job ID: 1000324
Company: Ocwen US

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Job Description


This position will report to the SVP, Lending Finance Officer but will be dedicated to the support of and accounting for the Capital Markets business unit. This role will work closely with the Capital Markets team to ensure accurate and properly attributed accounting.

The primary responsibility of the Director, Capital Markets Finance will be the development and ongoing maintenance of a Capital Markets P&L. Capital Markets incorporates a wide array of activities related to mortgage origination and secondary marketing, as well as the management of Ocwen’s largest asset – MSR. Capital Markets’ activity is central to the functionality of both the origination platform and MSR valuation, which makes the accounting Capital Markets activities is quite broad. Additionally, Capital Markets’ impact on the P&L of other business units creates additional complexities as well as reporting requirements. As such, it is important that this role is filled by an individual that not only has a wide range of accounting/ FP&A experience, but also an appreciation for root-cause investigations as well as the generation of intuitive reporting/ presentations. This role will have the support of and work closely with the Capital Markets Senior Business Director, who will be responsible for managing more molecular and interactive reporting aspects of Capital Markets activities.

It is important that this individual is able to support and manage the technicalities and precision related to accounting practices of forward and reverse origination, trading, hedging, MSR and buyout activity.

Job Functions and Responsibilities:

Capital Markets P&L

  • Support and maintain the separation of the Capital Markets P&L from origination and servicing, into a new and independent cost-center
  • Develop the corresponding processes and procedures to support the creation of this accounting and FP&A pillar
  • Increase granularity in accounting and reporting to include breakouts for different hedge instruments
  • Develop the requisite accounting reports related to the Capital Markets P&L for the monthly report outs
  • Support forecasting and financial planning activities for Capital Markets P&L
  • Evaluate key financial results and prepare monthly management financial reporting
  • Work with Capital Market’s Senior Business Director to develop robust and transparent attribution reports related to Capital Markets activity and market movement
  • Support Capital Markets in compiling quarterly business unit report materials
  • Support various ad-hoc analysis, regulatory reporting, Board updates and other assignments associated with income statement activity
  • Identify and implement process improvements and efficiencies
  • Detailed duties will also include maintaining reports, preparing presentations, extracting data, entering data in spreadsheets, employing complex and dynamic filters, documenting work procedures, validating data accuracy

Capital Markets Activities

  • Support the reconciliation and accounting of hedge activities and instruments related to the origination pipeline
  • Support the reconciliation and accounting of hedge activities and instruments related to the MSR asset
  • Support the needs of other areas (including originations and servicing) in understanding the Capital Markets P&L and its impact on their businesses
  • Oversee the reconciliation and accounting of trade activities
  • Oversee the reconciliation and accounting of buyout activities and work with Treasury to coordinate financing needs and costs

Lending & Origination

  • Support management of margins to/ from origination teams
  • Track Capital Markets pricing/ margins to channel and their recording into the P&L
  • Support transparency and understanding of Capital Market-related deltas and impacts across organization
  • Work with origination and Capital Market’s teams to make any recommended changes to the geography of P&L items
  • Ensure month-end accounting values reconcile to values generated by Capital Markets team

Servicing

  • Support development of Mark-To-Model framework to ensure robust documentation, thorough back-testing, detailed assumption support
  • Work with MSR Manager to implement any recommended changes and updates to the MTM framework
  • Manage ad-hoc reporting requests related to MSR management from accounting and/or servicing team
  • Act as a subject matter expert for Capital Markets team for accounting practices related to origination and capitalization of MSR; including daily/ monthly/ quarterly true-ups
  • Work with Capital Markets team to ensure valuation of MSR asset remains within established standards
  • Develop robust and transparent reporting around all inputs and assumptions related to MTM value of MSR

Key Result Areas:

  • Evaluation of financial results and preparation of management analytics with direct visibility to CFO/CEO
  • Presentations to Executive Leadership Team
  • Work with cross-functional teams to provide actionable recommendations to senior management
  • Involvement with FP&A
  • Develop and maintain measurable analytic processes
  • Provide specific driver-based explanations for variances between planned and actual results

Qualifications:

To perform this job successfully, an individual must have the following education and/or experience:

  • Undergraduate degree in finance or business or equivalent professional work experience
  • 6+ years of relevant experience in Financial Planning and Analysis and Accounting with increasing levels of responsibility with a focus in Financial Planning & Analysis required
  • Mortgage industry experience required
  • Experience with hedge accounting and Mark-To-Model MSR Valuations preferred
  • Ability to present concisely with clarity
  • Ability to work with teams, especially across locations and time zones, in execution of projects and identification/ resolution of deficiencies or opportunities for improvement
  • Proven ability to multi-task and meet deadlines in a fast-paced deadline-driven and constantly changing environment
  • A successful track record of developing strong relationships across a broad range of leadership levels and functional areas
  • Ability to independently analyze, lead, and present with very limited guidance
  • Strong analytical ability and understanding of financial activity
  • Strong written and verbal communication skills.
  • Knowledge of Hyperion/Oracle EPBCS preferred
  • Hands on experience with SQL
  • Proficiency with MS Office applications, especially MS Excel and MS PowerPoint
  • Strong interpersonal skills

Leadership Attributes

  • Integrity – always do the right thing
  • Judgement – effectively deal with the gray
  • Transparency – open and honest communication; early escalation; no hidden agendas
  • Respect – treat others with dignity and be respectful
  • Resiliency – tolerate dynamic conditions without undue frustration
  • Pragmatic – stay calm, act with focus and purpose, even when facing challenge and uncertainty
  • Passion – demonstrate positive excitement and conviction for what you do and needs to get done
  • Ownership – take responsibility for everything in your organization even when it’s not your fault
  • Self-Motivation – personal drive to achieve, commitment to personal / organizational goals, initiative to act on opportunities and challenges, and optimism in the face of set-backs
  • Hunger – willing to throw head, heart and hands into a job
  • Humility – don’t have to be the smartest person in the room, give credit to others, willing to do any job to help the organization or team succeed
  • Desire to Win - super competitive, yet understand that the competition is outside the building
  • Empathy - the ability to discern what someone else is thinking or feeling and then responding in some appropriate way
  • Independent Thinker –analytical, the ability to make sense of things based on one’s experiences and observations; not flustered by criticism or challenge and willing to stand for convictions
  • Intellectual Curiosity – passion for continuous learning and understanding “why”

Company Summary

Ocwen is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity & Inclusion ensures that we are an organization that creates, promotes and sustains an inclusive work environment in which diversity, inclusiveness and respect are integral parts of our culture and work environment. Building the reputation as an outstanding place to work, a great business partner and a valued community member is our everyday endeavor.

Ocwen’s mission is to delight our customers through caring service and innovative lending solutions. We proudly serve over 1.3 million families with their mortgage needs by helping to find real solutions that benefit our customers and help to build stronger communities. Helping Homeowners is What We Do!®

Consider an opportunity to join our global team and put “Caring in Action” while growing your career

About Us


Company: Ocwen US

Ocwen is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to Diversity & Inclusion ensures that we are an organization that creates, promotes and sustains an inclusive work environment in which diversity, inclusiveness and respect are integral parts of our culture and work environment. Building the reputation as an outstanding place to work, a great business partner and a valued community member is our everyday endeavor.

Ocwen’s mission is to delight our customers through caring service and innovative lending solutions. We proudly serve over 1.3 million families with their mortgage needs by helping to find real solutions that benefit our customers and help to build stronger communities. Helping Homeowners is What We Do!®

Consider an opportunity to join our global team and put “Caring in Action” while growing your career.

Ocwen and its subsidiaries are proud to be equal opportunity workplaces. 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.

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