MSR Analyst II

Bonus Type

Summary

We're building a culture at BOK Financial where amazing people (like you) can bring their best, be their best, and work for the best. You've come to the right place to grow your career.

Job Description

The Mortgage Servicing Rights Analyst II is primarily responsible for analyzing and managing risks associated with MSRs, requires the ability to manipulate large datasets to build financial models and software, and manage MSR transactions. This position requires a structured and quantitatively oriented approach that includes strong programming skills and understanding of mortgage/fixed income markets, MSR hedging strategies, and MSR purchase/sale transactions.

Team Culture

Our team is very collaborative. Our camaraderie, shared decision-making, and mutual respect for one another are what make us a close-knit team.  All team members have a stake in the game and are encouraged to share their ideas on how to create efficiencies and impact our bottom line. Going above and beyond to deliver error-free work is who we are.  

How You'll Spend Your Time

• You will generate comprehensive financial reporting on the MSR asset going to the MSR Valuation Committee, Asset/Liability Committee (ALCO), and the Board using historical, market, and industry data to develop key assumptions required for MSR valuation and document supporting justification for assumptions chosen.
• You will maintain thorough documentation of the MSR modeling processes and assumptions to meet regulatory and model risk management standards. You will also work with the Financial and Management Accounting Departments to monitor, understand, and meet regulatory and accounting requirements relating to all aspects of MSR.
• You will expand team capacity and efficiency by developing software which speeds up operational tasks while reducing errors. You will also create sophisticated hedge analysis tools which allow the team to better understand market conditions and hedging decision trade-offs.
• You will develop tools which allow detailed prepayment model tuning and analysis to ensure the MSR model is accurately reflecting customer behavior patterns and generating a fair value estimate. You will also develop methods and reports for understanding MSR model sensitivity to key assumptions such as prepayment speeds, discount rates, escrow value, etc.
• You will manage MSR Transactions. This includes leading operational MSR transaction processes to achieve the Bank’s strategic goals. You will stay in tune with MSR market transactions and pricing dynamics, and facilitate bidding on deals – generate bid assumption sets, manage approval process, etc.
• You will negotiate Letters of Intent (LOI) and Purchase and Sale Agreements (PSA) with counterparties, brokers, and internal and external legal counsel.
• You will run the MSR valuation and shock sensitivities daily which inform hedging decisions to protect the bank from unnecessary income statement volatility.
• You will run and interpret Key Rate Duration (KRD) and other risk reports for the MSR asset and all hedge instruments while providing feedback and recommendations around hedging strategy to MSR Manager.
• You will execute trades to implement hedging strategies to mitigate risk associated with the MSR asset and perform historical testing of theoretical hedging strategies to evaluate and support new or different hedging approaches.

Education & Experience Requirements

• This level of knowledge is normally acquired through completion of an undergraduate degree in Engineering/MIS/CS/Math/Finance or a related quantitative field, plus 5+ years of related experience in mortgage capital markets, fixed income, quantitative finance or other related field, or equivalent combination of education and experience. Chartered Financial Analyst (CFA) is preferred. A Masters’ degree in a quantitative field is a plus.