Mortgage and Home Equity Loan Pricing Specialist
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
Gathers market intelligence, monitors competitor rates, and prepares comprehensive market positon reporting and analyses. Responsible for assisting Manager with functions of the Pricing Desk, including development, administration, enforcement, and tracking of Bank Pricing Policy and Procedures. May maintain and administer product rate sheet and pricing model.
Essential Job Functions
- Assists the Manager with the Pricing Desk, ensuring compliance with Pricing Policy and Procedures. Makes pricing decisions on individual loans with complex circumstances
- Become SME for market price position thru mastery of web based tools and internal pricing data sources.
- Tracks mortgage and home equity market and competitor analyses and recommends and assists with implementation of pricing changes and/or modifications to existing products, programs, policies and procedures.
- Analyzes external pricing factors, determines the impact of pricing on production and provides strategic and tactical business plans using specific mortgage data, external pricing surveys and internal models to achieve production growth or minimize negative impacts due to uncontrollable market factors.
- Develops and maintains daily/weekly/monthly market position reports
- Revises and keeps current Pricing Policy, Pricing Procedures, and Mortgage Pricing Model. Counsels management on any necessary changes and administers any changes.
Other Job Duties
- Performs other duties as assigned
- Experience in the mortgage, banking, or financial services industry
- Customer service or sales experience, preferably in banking
- 4 years required experience
- Bachelor's Degree Finance, Economics, or Business Administration
- 4 - 7 years
- Advanced Excel and PowerPoint
- Highly proficient with web based tools
- Thorough knowledge of mortgage and/or consumer real estate products, services and sales
- Thorough knowledge of mortgage and/or consumer real estate loan underwriting, documentation, and legal/regulatory requirements
- Keen understanding of mortgage loan pricing, and financial concepts such as regulatory capital, return on equity, gain on sale, interest rate risk, credit risk, and other factors impacting the profitability of a mortgage lending decision
- Analytical and statistical skills desired but not required
- Excel VBA skills helpful but not required
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.