Securitized Products Repo Middle Office AVP
- Whippany, NJ, USA Whippany NJ US
- Permanent, Full time
- Barclays - US
- 20 Aug 18 2018-08-20
Overall purpose of role IBMO Warehouse Lending and Gestation Repo Group supports the Fixed Income Financing Desk in its' core lending strategy to lend money to Mortgage Originators. The Group supports both Agency eligible and Non-Agency mortgage loan types.
About Securitized Products IBMO
The Securitised Products group supports the Fixed Income Finance business area. Securitised Products IBMO is responsible for the supporting all trading and sales activity within the Macro and Fixed Income Finance businesses. The Securitized Products IBMO team is expected to focus on controlling and safeguarding the firm's assets while ensuring timely, accurate, and efficient processing, confirmation, settlement of transactions and minimizing risk in a well controlled environment. Main Function: Securitized Products candidate will liaise with the Trading Desk and third party mortgage originator to coordinate the warehouse lending and gestation repo businesses.
Overall purpose of role
IBMO Warehouse Lending and Gestation Repo Group supports the Fixed Income Financing Desk in its' core lending strategy to lend money to Mortgage Originators. The Group supports both Agency eligible and Non-Agency mortgage loan types.
- The role is being created to address the continued growth and breadth of whole loan financing transaction types that have been established as part of the core business strategy. The group has expanded its lending platform to include additional loan level and collateral controls in order to protect the firm from market and operational risks.
- The Securitized Products IBMO team is expected to focus on controlling and safeguarding the firm's assets while ensuring timely, accurate, and efficient processing, confirmation, settlement of transactions and minimizing risk.
- Coordinate the closing of new deals and oversee transaction life cycle events.
- Review Deal Closing Documents and set up facilities on the applicable systems (iRepo, SPCATs, LION, IMPACT)
- Establish and Agree Workflow processes with all external deal participants (Borrower / Seller, Custodian, Servicer, Whole Loan Purchaser
- Oversee the purchase of mortgage whole loans and subsequent transformation into MBS Agency Securities. Ensure all trade bookings and transaction events are coordinated are accurately booked and coordinated for each settlement cycle.
- Ensure fees, interest, and principal activity is collected, processed, and recorded in our residential whole loan inventory and sub-ledger systems
- Oversee the accurate set-up and maintenance of static and transactional data on all Bank Systems and databases relating to client and deal information, via regular review of discrepancy and balance reports
- For unresolved items, provide detailed commentary and explanations for discrepancies including estimated time frames for resolution
- Liaise with Collateral Management group to ensure all client margin calls are calculated and issued correctly.
- Monitor borrowing base compliance checks to ensure accuracy and completeness.
- Oversee gestation repo agency pool formation. Act as point person for system enhancements and business development.
- Coordinate daily funding of residential whole loan bookings with money market treasury desk
- Reconcile the residential loan level data booked in our residential whole loan inventory system against the firm's books and records
- Maintain necessary files, both computerized and manual learn numerous operating systems (SP Cats, IMPACT, LION, iRepo, CPP, etc)
- Monitor all incoming and outgoing funds in the DDA's and advise and investigate any un-reconciled items
- Engaging with and managing Business and IT relationships throughout Project Life cycle
- Has experience spearheading projects focusing on system development and migration
- Oversee employee task completion / validate controls by reviewing daily, weekly, monthly work product.
- Process re-engineer to ensure operational efficiencies are maximized and / or address changes to regulatory and accounting framework.
- Establish, document and maintain departmental procedures and system requirements.
- Define UAT specifications and determine pass/fail thresholds prior to system deployment.
- Identify, escalate, and define system gaps and remediation
Stakeholder Management and Leadership
- Strong written and oral communications skills
- Problem Solving (Real Time and Proactive approach to establishing robust and efficient processes / controls.
- Ability to identify and define IT opportunities to automate and promote scale.
- Relationship builder
- Work effectively across groups.
- Engage with Trading, Legal, Customers, and Barclays Infrastructure Partners (Credit Risk, PCG, IT, Settlements, Ref Data, GSR.
- Interaction with all levels of management within the business and infrastructure groups.
- Act as a point person on business and regulatory initiatives. Expected to create project documents, UAT test scripts and Q&A analysis.
- Act as liaison between business and infrastructure partners. Should be able to clear articulate verbally and in written all business requirements.
Decision-making and Problem Solving
- Excellent problem solving skills and a strong analytical ability. The role requires a strong attention to detail and ability to identify issues across multiple systems and process flows.
- Requires individual who has the ability to multiple task and prioritize effectively to meet time sensitive deadlines.
- Needs to identify control gaps and process inefficiencies and develop a plan to leverage automation. Work closely with IT partners to identify cost effective plan to increase efficiency.
- Worked closely with colleagues to develop their business knowledge and problem solving skills.
- Risk and Control: All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards
Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.