Director of Secondary Markets - Remote or Hybrid

Southern Bancorp is a different kind of bank. Focusing on underserved communities and people, Southern Bancorp combines traditional bank products and services with financial development tools and public policy advocacy to help people and communities grow stronger.

The Director of Secondary Markets will assist with the mortgage lending division's strategic growth plans. They will use their research and extensive analytical skills to create and provide insight to help guide the evolution of the mortgage lending team to include decisions regarding loan origination system (LOS) oversight and product & pricing setup. This position will be a part of the Mortgage Division's key Leaders, reporting to and working closely with the President of Mortgage and a multitude of business partners both internally and externally.

Products

• Serves as primary contact for all secondary market investors (e.g., Fannie Mae, Freddie Mac, FHA), analyzing their continuous product and pricing changes and developing an internal plan to either execute on those changes or implement a strategy to compete against those changes.
• Evaluate lending trends and develop and roll out strategic product offerings that meet the needs of our sales force requirements to compete and succeed in this mortgage lending space.
• Maintain and update product guideline changes in both product and pricing engine and the loan origination system.

Pricing

• Maintain, update, and run product and pricing models in the loan origination system and product and pricing engine used to compete for business and for daily pricing to our Sales force.
• Maintain and set up all Mortgage investors working with legal & compliance for approval.
• Monitor market conditions and be prepared to make intraday pricing changes based on market volatility.
• Actively respond to and execute all pricing requests and lock maintenance requirements from the sales and operations teams.

Loan Origination System

• Lead, manage, and implement LOS system including changes and requirements either required by the vendor or requested by the mortgage lending team. Must be able to quickly implement changes.
• Utilize mortgage pricing and product experience to fully understand LOS loan fee changes, product guideline updates, and pricing LLPA changes.
• Work closely with all mortgage lending teams to actively test all LOS required system changes. Will be the primary lead for all secondary marketing testing requirements and final sign off.
• Work closely with Compliance to implement any regulatory changes to include qualified mortgage (QM) and ability to repay (ATR) requirements.

Department Policies & Reporting

• Develop, manage, and maintain all mortgage lending reporting requirements. Provide daily, weekly, and monthly reports and ensure all appropriate parties are receiving information.
• Develop and maintain all mortgage lending policies and procedures. Must actively keep policies current and make the appropriate changes and submit for approval expediently.
• The team member will ensure policies, procedures, and programs are consistently administered, aligned with organizational goals, and are compliant with professional standards, state and federal regulatory requirements, and employment laws.
• Work in conjunction with Compliance and legal to ensure accountability and compliance with all applicable laws and regulations concerning mortgage lending.
• The team member's work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.

Knowledge, Skills, and Abilities

• Extensive knowledge and understanding of mortgage pricing models and rate sheets.
• Extensive knowledge and understanding of mortgage products and guidelines.
• Skilled in having constructive conversations with leadership around performance, development, and helping to support business goals.
• Ability to use their mortgage quantitative and management skills.
• Ability to communicate information and ideas so others will understand. Must be able to exchange accurate information in these situations.
• Ability to influence and engage direct and indirect reports and peers.
• Ability to work effectively across organizational departments and functions to achieve strategic goals.
• Ability to work in a fast-paced team environment with exceptional customer service skills.
• Ability to communicate clearly and concisely, orally and in writing.
• Ability to motivate others and to work in a large cross-functional team dynamic.
• Ability to coordinate several concurrent activities simultaneously.

Complexity & Scope of Work

• The team member performs several routine and generally related tasks without supervisory direction.
• The team member may make decisions regarding unusual circumstances on occasion.
• Tasks may occasionally have to be coordinated, integrated, and/or prioritized.
• Courses of action are determined by established procedures and/or the President of Mortgage.
• The team members use independent judgment in making decisions.

Minimum Qualifications

• Bachelor's degree in related field OR commensurate work experience.
• Minimum of 5 years of secondary marketing experience, or combination of 7 years of mortgage industry experience with 3 years secondary marketing experience required.
• LOS and Product & Pricing Engine experience required with system integration knowledge.
• Experience working with secondary market investors and management experience is required.
• Must possess and maintain a valid driver's license and a vehicle with appropriate insurance coverage.

Physical Demand & Work Environment:• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

What we offer our employees:

A positive impact on Your Future:

• 401(k)/Roth plan with immediate eligibility and employer match up to 6%
• Employee stock ownership plan
• 1% employee home loan
• Credit and housing counseling as well as free financial education tools available to customers and employees

Benefits to improve your health:

• No deductible medical insurance plan
• Dental and vision insurance
• Employer paid life and long-term disability insurance
• Flexible Spending Accounts

The opportunity to nurture your well-being:

• Paid holidays and paid time off
• Bonus plan
• Opportunity for merit raises
• Employee reward and recognition programs
• Community service opportunities

Southern is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, sexual orientation, gender identity, gender expression, status as a protected veteran, among other things, or status as a qualified individual with disability.

As a Community Development Financial Institution, Southern Bancorp desires for its workforce to reflect the diversity of the customers and communities that we serve. Racial and ethnic minorities, people from working class backgrounds, women and LGBTQ people are often underrepresented in many financial service industry professions. Therefore, we strongly encourage applications from people with these identities or who are members of other marginalized communities.