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Vice President, Capital Markets

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Job ID: 1000373
Company: Ocwen US

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Job Description


This position will report to the EVP, Capital Markets and support the full range of Capital Markets activities. This position will be considered a key member of the senior leadership within Capital Markets.

This role’s primary responsibility will be to support Capital Markets in all matters affecting the 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. This role is focused more on the front-lines of Capital Markets business operations and its associated P&L impacts/ requirements. As such, this role will be heavily involved in the day-to-day activities of the team as well as frequent and varied ad-hoc reporting. Additionally, this individual will be responsible for all regulatory and audit-related documentation, support, and reviews. This role will complement the more technical, routine and logistical accounting efforts of the Accounting team, and more specifically the Director, Capital Markets Finance position.

It is important that this individual is able to support and manage the technicalities and precision related to accounting practices, but also strategic enough to engage in executive-level conversations about values and considerations of different accounting elections.

Job Functions and Responsibilities:

Capital Markets P&L

  • Support the separation of the Capital Markets P&L from origination and servicing, into a new and independent cost-center
  • Support the analysis of and explanations related to the Capital Markets P&L
  • Develop specialized reporting to provide the team with inclusive views of business segments to support decision-making related to pricing, risk management and strategy
  • Create nuanced reviews of the P&L and balance sheet from an accounting perspective to identify opportunities to maximize and optimize profitability
  • Develop a set of reporting dashboards for use by the Capital Markets team in the management of daily activities
  • Work on ad-hoc requirements as needed by Capital Markets to evaluate expected vs earned returns, marginal vs incremental returns, and cash vs levered returns
  • Develop financial and business reports for Capital Markets as part of the team’s quarterly business unit review
  • Offer insight into accounting of investment/ acquisition opportunities
  • Support Capital Markets in analysis of bulk MSR acquisitions; Including GAAP P&L, cash usage, liquidity, and financing
  • Generate GAAP cash flows from economic cash flows with regards to acquisition opportunities
  • Liaise with other internal departments to remain apprised of all regulatory/ legal thresholds and limits that may impact Capital Markets activity

General Capital Markets Activities

  • Oversee all 3rd party accounting/ audit reviews that incorporate Capital Markets
  • Manage SOX related requirements and supportive documentation and reporting
  • Oversee all regulatory reviews that incorporate Capital Markets
  • Support and manage all change control requirements related systems, pricing, trading, hedging and modeling
  • Support the development and maintenance of policies, programs, procedures and authority limits
  • Develop and maintain GSE relations metrics related to Capital Markets activities

Lending & Origination

  • Develop reports that support the Capital Markets team in understanding their P&L and any necessary adjustments to pricing to effectively achieve desired return
  • Support precision, documentation and updates to pull-through model as it relates to valuation of the lock position
  • Support valuation of closed/ funded loans in warehouse (Reverse and Forward lending)
  • Support the analysis and evaluation of a hedge strategy for the origination pipeline, and its ongoing valuation
  • Support the valuation of aged inventory
  • Support/ manage middle office team in conjunction with the Head of Secondary Marketing
  • Support middle office activities related to pipeline hedge activities
  • Support the team in developing databases and reporting related to SRP grids and movement
  • Ensure the accuracy and timely creation of foundational accounting reports from the system, in conjunction with the Head of Secondary Marketing
  • Strategic analysis of accounting principles and elections related to originations and comparison of impact to near-term cash value vs longer-term earnings
  • Manage ad-hoc reporting requests related to secondary marketing and production platforms
  • Support buyout activity through the financial analysis of loan selection and its accounting ramifications

Servicing

  • Support development of Mark-To-Model framework to ensure robust documentation, thorough back-testing, detailed assumption support
  • Work with MSR Manager to evaluate any recommended changes and updates to the MTM framework
  • Support valuation of MSR hedge position
  • Develop robust and transparent reporting around all inputs and assumptions related to MTM value of MSR
  • Evaluate accounting implications of alternative MSR hedge strategies/ instruments
  • Support MSR Manager by analyzing accounting data to identify marginal and incremental cost and revenue items for MTM valuation as well as for bulk acquisition opportunities
  • Strategic analysis of accounting principles and elections related to servicing capitalizations and comparison of impact to near-term cash value vs longer-term earnings
  • Generate ad-hoc reporting requests related to MSR asset as needed by Capital Markets 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

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
  • 8+ 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 MSR valuations required
  • Demonstrated experience with engagement of/ presentation to executive leadership and ability to present concisely with clarity
  • 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 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
  • Competencies in problem solving, creativity, organizational skills while showing good judgment and execution within a fast-paced environment

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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