First VP Capital Markets

Pennymac (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. 

At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.

The First Vice President (FVP) of Capital Markets (Valuation and Interest Rate Sensitive Investments) is responsible for developing and maintaining the models and operational processes surrounding the performance forecasting and valuation of mortgage servicing rights (MSRs) and other mortgage-related products that Pennymac may invest in or manage. The FVP will interface with other key MSR stakeholders including pricing, hedging, acquisition and other teams to support key company initiatives. The FVP is also responsible for the analysis of investment, mortgage, and economic performance trends, and for the associated reporting required for those areas and for the communication of those results and investment trends to various parties within and outside the company, including executive management and management committees, in addition to 2nd and 3rd lines of defense.

The First VP (Valuation and Interest Rate Sensitive Investments) will:

• Manage the development, testing, and deployment of internally-developed and third-party models for the forecasting and valuation of MSRs and mortgage-related products that Pennymac may invest in or manage, which in turn are utilized in investment analysis, business forecasting and planning, and financial reporting
• Communicate analysis of investment performance and valuation changes to executive management and other key stake holders
• Research and obtains information on current trends and developments in financial modeling and financial markets to ensure that Pennymac’s methodologies are best practice and in line with other market participants and market information 
• Manage the monthly valuation process for all mortgage products without transparent market pricing, the results of which are used in financial reporting across all entities managed by Pennymac
• Manage the preparation of monthly and quarterly management reporting and financial analysis regarding investment performance and market performance trends
• Manage and/or performs sensitivity analyses of investment products to various economic shocks using financial models
• Communicate and coordinate with other key stake holders in the organization regarding valuation results
• Manage the creation of analyses that compare actual and modeled results for ongoing surveillance of the valuation models
• Develop and maintains process and model documentation for valuation and investment reporting activities
• Perform other related duties as required and assigned
• Demonstrate behaviors which are aligned with the organization’s desired culture and values

• Bachelor’s degree or equivalent work experience
• 7+ years of relevant work experience
• Strong understanding of the mortgage market, and specifically MSRs
• Financial Services and mortgage industry experience required
• Excellent critical thinking, problem solving, mathematical skills and sound judgment 
• Superior analytical skills and ability to manage multiple priorities simultaneously in a fast-paced and deadline-driven environment 
• Sophisticated presentation and communication skills
• Strong business acumen and ability to interface with executive management
• Must be a team player with strong attention to detail and able to work independently
• Experience with market MSR models including QRM a plus

As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do. 

Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported. 

Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include: 

• Comprehensive Medical, Dental, and Vision
• Paid Time Off Programs including vacation, holidays, illness, and parental leave 
• Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
• Retirement benefits, life insurance, 401k match, and tuition reimbursement 
• Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships

To learn more about our benefits visit: https://pennymacnews.page.link/benefits

Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:

• Lower in range - Building skills and experience in the role
• Mid-range - Experience and skills align with proficiency in the role 
• Higher in range - Experience and skills add value above typical requirements of the role 

Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.