Pine River Capital Management

  • Counterparty Risk Manager, Two Harbors

    Job ID
    2018-1914
    # Positions
    1
    Experience (Years)
    7
    Category
    Two Harbors - Operations
  • Overview

     Two Harbors Investment Corp.

     

    Two Harbors Investment Corp. is a publicly traded mortgage real estate investment trust, or REIT. Our objective is to provide an attractive risk-adjusted total return to our stockholders over the long-term through dividends and capital appreciation. Our mission is to be recognized as the industry-leading mortgage REIT.  We take an opportunistic investment approach to the residential mortgage sector, including residential mortgage-backed securities, mortgage servicing rights and other financial assets.

    Two Harbors today is the largest hybrid mortgage REIT with a market capitalization of over $3 billion. Two Harbors is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P.  Two Harbors trades on the NYSE under the ticker symbol “TWO”.

     

    Position Description:

    The Counterparty Risk Manager will be responsible for the management of new and existing counterparties, including: performing counterparty due diligence reviews; ongoing counterparty monitoring; and, the compilation and submission of annual certifications for the GSE’s and HUD.  The successful candidate will act as the liaison between counterparties and investors to ensure that counterparties maintain adequate financial strength, quality control programs, and that GSE repurchase timeframes are met.  This candidate will have a significant amount of interaction with internal and external parties and must demonstrate the ability to thrive in a fast-paced entrepreneurial environment.

     

     

    Responsibilities

    • Gather and analyze information (e.g., financial statements, third-party audit results, production metrics, etc.) from counterparties to evaluate each counterparties financial strength, operational effectiveness, and compliance with laws and regulations;
    • Schedule and perform onsite counterparty reviews of residential mortgage loan originators being considered for approval to sell mortgage servicing rights;
    • Produce final assessments detailing the findings of each counterparty review for approval by the Chief Risk Officer;
    • Monitor risk associated with current counterparties through monthly scorecards, annual certification reviews, or other periodic reviews as necessary; provide recommendations as a result thereof;
    • Prepare executive level presentation materials detailing counterparty performance and identifying potential counterparty risks;
    • Coordinate and submit annual certifications due to the GSE’s and HUD;
    • Oversee the remediation and/or repurchase of residential mortgage loans from the GSEs that are identified to have origination defects;
    • Document and comply with policies and procedures regarding the review and monitoring of counterparties;
    • Perform other duties as assigned by management.

    Qualifications

    • Undergraduate degree in accounting, finance, or other business related field.
    • Minimum 7-10 years of progressive experience in a correspondent approval, third-party risk management, or audit role.
    • Demonstrated experience with financial statement review/preparation and analysis.
    • Exhibits exceptional project management and analytical skills with a strong focus on attention to detail. Ability to efficiently sift through large amounts of information and spot trends and inconsistencies.
    • Ability to formulate and defend recommendations based on the results of procedures performed.
    • In-depth knowledge of agency requirements and regulations (FNMA, FHLMC, GNMA, HUD) including GSE quality control guidelines and repurchases requirements.
    • Strong written and verbal communication skills and the ability to effectively formulate conclusions and communicate with the senior most level of the organization and partner across multiple business lines.
    • Effectively assesses and prioritizes workload to meet deadlines in a dynamic and fast-paced environment.
    • Embraces change and demonstrates the flexibility to engage in multiple projects simultaneously.
    • Intermediate proficiency of MS Excel; basic proficiency of MS SQL Server is a plus.
    • Prior audit or bank examination experience a plus
    • Ability to travel up to 25%.

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