The bank for a changing world

VP Senior Pricing Manager, Head of Mortgage and Home Equity Pricing




United States-California-San Francisco

Job function




What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.


Position Summary


Responsible for management of Mortgage Servicing Rights (MSR) asset, including valuation and analysis of prepayment speeds, default costs and risks, housing market conditions, and costs to service.  Responsible for management of the CRES Pricing Desk including development, administration, enforcement, and tracking of Bank Pricing Policy and Procedures.  Contributes to product development initiatives and oversees division and department profitability analyses.

Essential Job Functions


1.         Manages valuation of mortgage servicing rights asset utilizing complex third party software, including option costs related to prepayment speeds, credit costs related to default risk and housing market conditions, and servicing costs related to internal and external efficiencies.

2.         Provides input to CRES pricing function related to Service Release Premiums (SRPs) included in the pricing of new loan originations from retail and correspondent channels.

3.         Manages the CRES Pricing Desk, which oversees pricing of mortgage and consumer real estate products.  Ensures compliance with Pricing Policy and Procedures.  Makes pricing decisions on individual loans with complex circumstances.

4.         Oversees mortgage pricing rate sheet and home equity rate sheet, ensuring pricing consistency in and among products, compliance with secondary marketing delivery requirements, and adherence to bank profitability requirements.

5.         Partners with other division business lines in matters such as addressing pricing and policy questions, providing pricing analysis on individual loans, and soliciting ideas for product and pricing development or enhancements.

6.         Conceptualizes, recommends, and implements metrics and analyzes to demonstrate compliance with Bank and Division Policies, analyzes product profitability, and recommends improvements to division and department efficiency.

7.       Coordinates sharing of data with other departments, including compliance and risk to facilitate additional analyses.

8.       Performs other duties as assigned.


Job Specifications


Required Education or Equivalent Experience

  • Bachelor’s Degree       
  • Master’s/Advanced Degree (preferred)

 Required Experience

  • Years of functional/professional experience: 5-8 years mortgage banking experience (preferred); 3-5 years experience with mortgage loan pricing (preferred)
  • Years of supervisory or managerial experience: 3-5

 Administrative/Technical Skills/ Other Information

  • Analytical and statistical skills
  • Working knowledge of mortgage and consumer real estate products, services and sales
  • Working knowledge of mortgage and consumer real estate loan underwriting, documentation, and legal/regulatory requirements
  • Price elasticity 
  • 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

Level Supervised

  • Manages 3 pricing analysts

The above statements are intended to describe the general nature and level of work being performed.  They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.


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.