Mortgage Servicing Rights (MSR) Hedging Director

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We are seeking a Director of Mortgage Servicing Rights (MSR) Hedging to lead the development, execution, and ongoing management of the company's MSR hedging strategy. This highly specialized individual contributor role is responsible for managing portfolio risk, enhancing hedging policies, building governance and control frameworks, and ensuring alignment with risk, compliance, and regulatory expectations. The ideal candidate will partner closely with trading, analytics, and Second Line of Defense (SLoD) stakeholders to evaluate hedge effectiveness, deliver executive and regulatory reporting, and provide strategic leadership for the MSR portfolio. Success in this role requires deep expertise in mortgage capital markets, MSR valuation and hedging, risk management, and the ability to communicate complex strategies to executive leadership, committees, and regulators. We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position will be based in the following location: San Antonio, TX. Relocation assistance is available for this position.

Lead the development and implementation of the organization's MSR hedging framework, including strategy, policies, procedures, controls, and escalation protocols. Establish governance processes and reporting standards to support effective oversight of MSR hedge activities. Develop and execute comprehensive MSR hedging strategies designed to mitigate interest rate and other market risks through management of daily hedging positions utilizing Treasury futures, options, swaps, swaptions, TBAs, and other approved hedging instruments. Monitor hedge performance, effectiveness, and portfolio sensitivities including duration, convexity, and basis risk. Collaborate closely with the MSR Valuation team to understand portfolio characteristics, valuation assumptions, cash flow projections, duration estimates, and sensitivity analyses. Work jointly with valuation stakeholders to evaluate the impact of market changes on both asset values and hedge performance. Analyze market trends affecting mortgage servicing valuations and hedge performance. Evaluate and recommend hedge adjustments based on market conditions, portfolio performance, and risk appetite. Develop hedge performance metrics, risk tolerances, and key risk indicators for ongoing monitoring and reporting. Monitor MSR hedge P&L and explain performance drivers to executive leadership. Provide forecasts and recommendations regarding portfolio performance and capital utilization. Develop and maintain management reporting packages related to hedge activity, servicing valuations, and market exposures. Support budgeting and financial planning processes related to servicing and hedging activities. Create and maintain documentation supporting hedge strategies, methodologies, controls, and governance requirements. Support the evaluation and implementation of systems, models, analytics, and vendor solutions necessary to support MSR hedging activities. Leverage valuation analytics to inform hedge positioning and risk management decisions while maintaining independent ownership of hedge strategy and execution. Participate in model validation, assumption reviews, and governance discussions related to servicing asset risk measurement. Partner with Risk