Mortgage Servicing Rights (MSR) Hedging Director

USAA
San Antonio
Workplace: HybridFull timeUSD 127,310 - 229,160Function: Banking, Lending & CreditExperience: 6+ yearsEducation: bachelorsSkills: ["Risk management","Governance","Stakeholder management","Strategic leadership","Communication"]

Lead the development, execution, and ongoing management of the company’s MSR hedging strategy. Build and maintain hedging frameworks, governance, controls, and escalation processes, and manage daily hedging positions using instruments such as Treasury futures, options, swaps, and swaptions. Monitor hedge performance, risk sensitivities, and P&L drivers, partnering with valuation and risk stakeholders to deliver executive and regulatory reporting while building/overseeing a team.

Loading

Loading job details...

Preparing the role view and application actions.

FursaFursa
USAA
USAA
4 hours ago

Mortgage Servicing Rights (MSR) Hedging Director

✓ Verified Job

Canonical indexed version, validated from employer's careers page.

Source: Company careers pageValidated by: Fursa AI
Last checked: 4 hours agoStatus: Live

Job Summary

Lead the development, execution, and ongoing management of the company’s MSR hedging strategy. Build and maintain hedging frameworks, governance, controls, and escalation processes, and manage daily hedging positions using instruments such as Treasury futures, options, swaps, and swaptions. Monitor hedge performance, risk sensitivities, and P&L drivers, partnering with valuation and risk stakeholders to deliver executive and regulatory reporting while building/overseeing a team.
Location: San Antonio
Workplace: Hybrid
Employment Type: Full time
Job Function: Banking, Lending & Credit
Seniority: Director level

Key Responsibilities

  • •Lead development and implementation of the MSR hedging framework, including strategy, policies, procedures, controls, and escalation protocols.
  • •Establish governance processes and reporting standards to oversee MSR hedge activities.
  • •Develop and execute comprehensive MSR hedging strategies to mitigate interest rate and other market risks using Treasury futures, options, swaps, swaptions, TBAs, and other approved instruments.
  • •Monitor hedge performance and portfolio sensitivities (e.g., duration, convexity, basis risk) and explain MSR hedging P&L drivers to executive leadership.
  • •Build and oversee a team, including recruiting, development, retention, coaching, and performance management for assigned functional areas.

Pay and Benefits

Salary: USD 127,310 - 229,160
Perks:Health InsuranceDentalVision401kPensionLife InsuranceParental LeaveAdoption AssistancePaid LeaveWellness StipendVolunteer Hours

Key Requirements

  • •Bachelor's degree; OR 4 years of relevant education and/or experience.
  • •Minimum 6 years’ progressive experience in mortgage banking, secondary marketing, capital markets, mortgage servicing, interest rate risk management, or related disciplines.
  • •Minimum 3 years’ direct experience managing MSR risk, mortgage-related hedging strategies, capital markets activities, or interest rate risk programs.
  • •Subject matter expert in mortgage servicing economics, capital markets, and interest rate risk management, including MSR valuation concepts and servicing asset risk characteristics.
  • •Demonstrated experience designing, implementing, or enhancing risk management frameworks, controls, and governance processes.
Experience:6+ yearsMortgage bankingCapital marketsMortgage servicingInterest rate risk management
Education:Bachelor's
Skills:Risk managementGovernanceStakeholder managementStrategic leadershipCommunication
Tech Stack:Treasury futuresOptionsSwapsSwaptionsTBAsHedging instruments

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

USAA
Provides insurance, banking, investment, and financial services to U.S. military members, veterans, and their families. Best known for auto, home, life insurance, and member-focused digital banking products.
Industry: Insurance
Company Size: Enterprise (1,001+ employees)
Revenue: USD 1B+
Growth: Established Company
Headquarters: San Antonio, United States
Founded: 1922
WebsiteLinkedIn