Secondary Marketing Director / State Program Admin Manager Principal - Remote Eligible

Secondary Marketing Director

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.

Minnesota Housing is hiring! We're a mission-focused financial institution looking for a Secondary Marketing Director to serve as a member of the Capital Markets and Investment Team, reporting to the Executive Investment Officer. The Secondary Marketing Director manages mortgage loan pricing, hedging, pooling, and trading.

While the role has no direct reports, the position works closely with other members of the Finance Team and Finance Counsel, as well as staff across Agency Divisions in Single Family, Accounting, Multifamily, and Business Technology Solutions, on lending programs design, program management, information systems, and pricing. The position also extensively engages external business partners.

The Secondary Marketing Director works proactively across the Agency to share information, address questions, resolve problems and support continuous improvement through regular communication in meetings, calls, and emails. The Secondary Marketing Director serves on various project teams with internal staff, financial advisors and external partners, which may include contractors, government-sponsored entities, and industry trade organizations.

The Secondary Marketing Director works daily with the mortgage loan pipeline hedge advisory firm to monitor the loan pipeline and hedge interest-rate risk exposure. The position engages senior investment banking, bond underwriting, financial advisory, and bond counsel professionals, including participation in regular Finance Team meetings of internal and external partners. The Secondary Marketing Director also provides periodic reporting to the external audit firm and credit rating agencies. Occasionally, the role serves as a presenter at Agency staff meetings, Agency board meetings, and industry conferences.

The position maintains trading accounts and strong working relationships with securities and derivatives trade desks, settlement operations, and compliance teams of investment firms and broker-dealers to maximize financial returns on Agency lending activities. The Secondary Marketing Director actively builds and strengthens partnerships that support the Agency's mission, vision, and guiding principles.

Essential Job Duties

• Establish daily mortgage loan interest rates to achieve Agency's financial goals.
• Direct loan servicers in the pooling of loans into Fannie Mae, Freddie Mac, and Ginnie Mae mortgage-backed securities and subsequent purchase of those securities from the servicers, optimizing execution by maximizing market value, and resolving accounting and settlement issues.
• Manage hedging operations in collaboration with the contracted hedge advisory firm, including maintaining accurate data transfers, providing timely rate-lock updates, reviewing daily hedging reports for accuracy, and adjusting hedging assumptions to ensure the loan pipeline is appropriately protected against market movement.
• Market and trade MBS and loans, conducting competitive auctions to extract maximum value, maintaining strong broker-dealer and investor relationships, coordinating trade settlements while upholding the reputation and integrity of the Agency.
• Develop and maintain pricing structures for home-improvement and multifamily loan products by assessing cost of capital and market conditions, determining interest rates based on funding source, and documenting detailed procedures for all tasks to ensure consistency, accuracy, and continuity of operations.
• Represent Finance Team in cross-divisional team projects in loan programs design, managing vendor procurement and onboarding, overseeing loan servicing and system configuration, supporting financial and credit-rating reporting, and representing the Agency and Finance Team at industry conferences.
• Support the Finance Team of internal and external partners in strategizing and executing the Agency's mortgage-revenue bond program.
• Perform other duties as assigned, including financial analysis and forecasting.

Minimum Qualifications

• Five (5) years of experience managing secondary-marketing or another mortgage-industry function, demonstrating working knowledge of mortgage loan origination, servicing and secondary-market activities.
• A Bachelor's degree in Finance, Accounting, or Business Management, may substitute for 12 months of experience – or – a Master's degree in one of these fields may substitute for 18 months of experience
• Experience managing and leading projects with tight timelines including projects with staff that are not direct reports.
• Demonstrated ability to work effectively and partner with others to achieve an organization's mission.
• Skills in financial analysis, data analysis, and forecasting
• Excellent analytic, organizational, and interpersonal skills.
• Cultural competency as demonstrated by skills for communication and interaction across cultures and awareness of one's own world view and that different world views exist.

Preferred Qualifications

• Masters degree in Finance, Business Administration, or Accounting.
• Chartered Financial Analyst and/or Certified Public Accountant.
• Experience managing the capital markets function(s) at a state housing finance agency.
• Experience trading mortgage-backed securities and mortgage loan pipeline hedging, in addition to experience in the issuance and administration of housing mortgage revenue bonds.
• Our employees are dedicated to ensuring cultural responsiveness. Preferred candidates will have a variety of experiences working effectively with others from different backgrounds and cultures.

Physical Requirements

Requires moving office items such as file folders and small office tools.

Additional Requirements

• Reference Checks.
• Job related background checks.
• Conflict of Interest Disclosure.

AN EQUAL OPPORTUNITY EMPLOYER

Minnesota State Colleges and Universities is an Equal Opportunity employer/educator committed to the principles of diversity. We prohibit discrimination against qualified individuals based on their race, sex, color, creed, religion, age, national origin, disability, protected veteran status, marital status, status with regard to public assistance, sexual orientation, gender identity, gender expression, or membership in a local commission as defined by law. As an affirmative action employer, we actively seek and encourage applications from women, minorities, persons with disabilities, and individuals with protected veteran status.

Reasonable accommodations will be made to all qualified applicants with disabilities. If you are an individual with a disability who needs assistance or cannot access the online job application system, please contact the job information line at 651-259-3637 or email careers@state.mn.us. Please indicate what assistance is needed.