Manager, Market and Credit Risk Management

7 days ago


Bengaluru, Karnataka, India Onity Group Inc. Full time ₹ 9,00,000 - ₹ 12,00,000 per year

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

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