Secondary Pricing Manager, Sr

Overview
Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

Benefits
We continually seek highly motivated and talented individuals; in return we offer competitive compensation with salary and incentive programs, medical, dental, and vision insurance, a 401(k) plan, continuing education opportunities, and an employee assistance program. Old National also provides Impact Network Groups led by passionate team members to promote diversity, inclusion, and engagement. We offer a unique opportunity to join a growing, community and client‑focused company that is firmly rooted in its core values.

Responsibilities
The Secondary Pricing Manager, Sr. leads the bank’s secondary mortgage market pricing strategy, pipeline management, and investor delivery functions. This senior leader optimizes loan sale execution, manages interest‑rate risk, and enhances pricing models to improve the bank’s competitive position and profitability. The manager collaborates closely with community lending, operations, finance, risk, and senior leadership to align secondary market activities with strategic objectives.

Pricing Strategy & Execution

Develop, manage, and continuously refine the bank’s secondary mortgage pricing engine, including rate sheet production and real‑time pricing adjustments.

Monitor agency (FNMA, FHLMC, GNMA) and whole loan markets to optimize loan sale pricing and execution strategy.

Oversee best‑execution analysis, including TBA hedging, mandatory delivery commitments, and best‑efforts loan sales.

Manage pricing adjustments for loan‑level price adjustments (LLPAs), overlays, and product‑specific margin decisions.

Collaborate with mortgage and community lending leadership to design competitive pricing that grows origination volume without sacrificing margin.

Pipeline & Interest Rate Risk Management

Oversee the mortgage pipeline hedging program to mitigate interest‑rate risk, including fallout‑adjusted hedge ratios and hedge execution.

Monitor daily mortgage pipeline exposure, mark‑to‑market valuations, and hedging P&L.

Partner with Treasury and Finance to align secondary market hedging with the bank’s broader asset/liability management framework.

Ensure compliance with hedge accounting policies under GAAP (ASC 815) as applicable.

Investor Relations & Loan Delivery

Manage relationships with GSE counterparties (Fannie Mae, Freddie Mac), Ginnie Mae, and approved whole‑loan investors.

Oversee the timely and accurate delivery of mortgage loans to investors, ensuring compliance with seller/servicer guides and contractual obligations.

Negotiate investor pricing, execution terms, and delivery windows to maximize loan sale revenue.

Monitor repurchase and make‑whole demands; develop strategies to minimize put‑back risk.

Analytics, Reporting & Governance

Produce and present regular reporting on secondary market performance, pricing margins, hedge effectiveness, and gain‑on‑sale results to senior leadership.

Build and maintain secondary market financial models, including pricing analytics, profitability forecasting, and scenario analysis.

Establish and enforce secondary market policies, procedures, and internal controls in accordance with regulatory requirements and investor guidelines.

Lead preparation for internal and external audits, regulatory examinations, and model risk reviews related to secondary market operations.

Leadership & Team Development

Lead, mentor, and develop a team of secondary market analysts and pricing specialists.

Establish performance goals, provide coaching, and foster a culture of accuracy, accountability, and continuous improvement.

Drive systems and process improvement initiatives to enhance efficiency, reduce operational risk, and support business growth.

Stay current with industry trends, regulatory changes (CFPB, FHFA, HUD), and market developments; communicate implications to leadership.

Salary Range
The annual salary range for this position is $81,700–$165,100 plus incentive bonus. The base salary reflects the compensation range applicable to all levels of the role across the United States. Actual offers may vary based on responsibilities, candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

Skills & Qualifications

Bachelor’s degree in Finance, Economics, Business Administration, or a related quantitative field; MBA or advanced degree preferred.

CFA, CMB (Certified Mortgage Banker), or equivalent professional designation preferred.

Minimum 10 years of progressive mortgage banking experience with at least 5 years in secondary market pricing, hedging, or capital markets roles.

Demonstrated expertise in secondary mortgage market mechanics, including GSE and Ginnie Mae seller/servicer requirements.

Hands‑on experience with mortgage pipeline hedging strategies (TBA, options, mandatory vs. best‑efforts) and risk management platforms (e.g., Optimal Blue, Black Knight, CompassPoint, or equivalent).

Deep knowledge of loan‑level price adjustments (LLPAs), agency guidelines, and whole loan execution.

Experience with mortgage servicing rights (MSR) valuation and retained servicing strategies.

Strong financial modeling skills; proficiency in Excel and working knowledge of pricing/analytics systems.

Track record of managing investor relationships and leading loan delivery/execution functions.

Thorough understanding of relevant regulatory requirements, including RESPA, TRID, and agency seller/servicer guides.

Equal Opportunity Employer
Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

About Us
We are Old National Bank. Join our team!

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