Mortgage Loan Valuation Analyst

Alexandria, Alexandria City, Virginia
not listed
Aug 18, 2014
Nov 17, 2014
Full Time

We have an immediate opening for a full time Mortgage Loan Valuation Analyst at our Alexandria, Virgina office location.

Under the supervision of the Director, Asset/Liability Manager, the incumbent produces mortgage loan interest rate risk, hedging, and income forecasting information for the mortgage pipeline, portfolio whole loans and mortgage servicing rights portfolios using the QRM Framework and/or other sophisticated valuation software. The incumbent models, assesses, and tracks mortgage loan and MSR portfolio risk from all applicable dimensions. Relies on experience and judgment to communicate salient risk factors and portfolio performance to senior management. .    

Essential Duties and Responsibilities:

Prepares accurate and timely mortgage loan and mortgage servicing rights (MSR) valuations, hedging, and income forecasting measurements, projections, and risk statistics using sophisticated valuation software.

Participates in the development of reports and analyses that focus management’s attention on the most significant elements of the mortgage pipeline (closed loans and rate locks), hedging strategies and vehicles, and changes in the market value of the mortgage servicing rights portfolio; analyzes corporate income and hedge performance against objectives and limits.

Participates in the data and assumption loading, reconciliation, and validation processes in QRM or other models used in support of the interest rate risk and income forecasting functions of the credit union.

Uses analytical tracking methods to benchmark and validate model assumptions and output including market prices, mortgage prepayment modeling, fallout, volatility modeling, forecasted product rate and volume mix, and MSR discount rate and revenue/cost functions.

Develops sophisticated analytical methods for the purpose of analyzing such elements as new product pricing and risk relationships, vintage/cohort product performance, mortgage loan purchase/sale opportunities, and the impact from other regulatory/compliance policy changes. Helps formulate product strategy recommendations for Senior Management and the Board of Directors.

Leads departmental projects as requested by management. Coordinates with senior management, middle managers and supervisors in all functional areas of the credit union in the accomplishment of assigned duties. Interacts with internal and external Auditors and Examiners.

Delivers oral and/or written briefings and reports to department managers, Senior Management, the Asset Liability Management Committee, the Financial Management Committee, and/or the Board of Directors related to the interest rate risk, hedging, and income forecasting results of the credit union’s mortgage-related assets.

Maintains a broad knowledge of the US residential mortgage market including mortgage-backed securities and other fixed income instruments, GSE loan purchase and secondary marketing activities, interest rate derivatives (e.g. swaps, caps, etc.), option pricing theory, mortgage prepayment modeling and interest rate risk measurement concepts such as duration, convexity, vega, basis risk, etc.

This is not intended to be an all-inclusive list of job duties. 


Minimum Requirements:

Five to seven years work experience in a financial institution using sophisticated asset/liability management, valuation, or derivative pricing models that forecast uncertain cash flows for risk measurement. QRM Balance Sheet Management, Mortgage Banking, or Mortgage Servicing system experience preferred.

Advanced degree in finance, economics, mathematics, or another quantitative discipline and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions. MBA/CFA professional certification preferred.

Proven project management skills.

Ability to manage multiple projects simultaneously and implement rapid changes in project direction.

Excellent interpersonal, oral and written communication, and organizational skills required

Ability to condense highly technical subject matter into clear and effective communications to senior management.

Physical Requirements:

Must possess mobility and stamina to work in a standard office setting.

Employees must be able to use standard office equipment including, but, not limited to computer, printer, and calculator.

Employee may have to lift items up to 25 pounds.

Must be able to sit or stand for long periods of time.

May need the ability to raise arms about their head.

Must be able to bend to file documents and retrieve filed documents.

Adequate hearing and speech to communicate with staff, regulators and vendors on the phone or in person.

This statement is not an all-inclusive list of physical requirements, but, is in general, covering most areas of the job. PenFed will make every effort to provide reasonable accommodations to an employee with a physical, mental or sensory disability in order to allow that employee to perform the essential functions of the job.


We can offer you:

•Challenging intellectual environment that requires both individual contribution and team collaboration.
•Medical, dental, vision & prescription drug coverage.
•Convenient Alexandria location with assigned free parking; close to metro and the beltway.
•Company paid short- and long-term disability coverage.
•Company paid life insurance.
•Generous education assistance program.
•Flexible Spending Accounts for out-of-pocket medical and dependent care expenses.
•Immediate enrollment in 401(k) plan with company match (100% of first 4% you contribute) after 6 months on the job.
•On-site fitness center and cafeteria


  • An offer of employment, and continued employment, is contingent on satisfactory results from a credit check, criminal background check and verification of previous education & job experience.

    Equal Opportunity Employer: M/F/V/D.