Collateral Operations, Sr. Associate

Purpose:

The Federal Home Loan Bank of San Francisco (the "Bank") is a cooperative, wholesale bank that provides liquidity to its members and helps meet community credit needs by providing credit products and services to member financial institutions through all phases of the economic cycle. The Bank's members include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions headquartered in Arizona, California, and Nevada. The Bank is member focused; embraces accountability to meet commitments and uphold our governance, risk and control standards as a government sponsored enterprise; and values differences to foster an inclusive culture.

Responsible for ensuring that the primary functions of administering collateral operations are completed on a daily basis. Provide clear, concise and professional communication demonstrating thorough knowledge of the collateral pledge program. Adhere to department's policies and procedures. Ensure accurate and timely processing of daily, weekly, monthly, and quarterly processes. Manage stringent processes and deadlines to ensure that the Members' credit obligations are always fully secured by pledged collateral to avoid potential losses. Monitor daily collateral maintenance systems, perform reconciliation of securities and mortgage collateral data, and develop reports that validate that securities and mortgage collateral accurately support member credit. Maintain compliance with FHFA regulations and Collateral Guide updates. Demonstrate good judgment in routine, daily decision-making and problem-solving situations while addressing and/or troubleshooting internal and external customer needs.

Major Accountabilities:

Perform and support all Collateral Operations job functions Conduct daily reconciliation and balancing functions. Process daily securities pledge and release transactions. Monitor Mortgage Collateral Update (MCU) processes. Maintain Member Collateral Mortgage (MCM) and Salesforce systems set up and monitoring. Process collateral updates relating to maintenance, prepayments, mergers, acquisitions, and transfers. Validate Quarterly Blanket Lien Summary Certifications for Credit Unions and Banks. Perform perfection of security interest requirements for all pledged collateral, i.e., Uniform Commercial Code filings and quarterly reconciliation. Maintain compliance of various collateral programs, i.e., LHFS, eNotes setup and daily processing, MERs daily processing. Ensure completion and validation of monthly duplicate pledge file share compliance processes. Conduct vault custody intake and release of pledged collateral for delivered members.

Securities Pricing Ensure the timely pledge and release of all securities on a daily basis. Coordinate and collaborate with Members, Collateral Analysis, Security Services and Vendors such as Citibank and Bloomberg to ensure securities are adequately priced and processed in a timely manner. Determine eligibility of pledged securities and pricing in accordance with established guidelines. Compile required documentation for security processing, i.e., factors, prices, maturity date, classification codes and ratings for all pledged securities; monitor and troubleshoot pricing exceptions in a timely manner.

Maintain department controls Update forms, procedures, and department workflow processes to incorporate new products, program changes and updates. Assist auditors and bank examiners during audits/reviews. Participate in the Annual Disaster Recovery and Failover Processes. Update and maintain proper controls for all quarterly End-Users Computation Applications. Assist with quarterly margin and pricing updates, when applicable. Assist on special projects and system enhancement opportunities.

Problem Resolution Research and resolve any complex Collateral Operations problems for all stakeholders, including members and other business units. Provide written communication to both internal and external customers. Make recommendations to management when appropriate to address issues or concerns.

Systems Functions Analyze workflow and initiate requests for system modifications in collaboration with IT. Assist with testing of system modifications, other projects and MCU data mapping or coding issues.

Ability to be on-site 3 days per week: Tuesday, Wednesday and Thursday, at minimum

Skills/Knowledge:

• Bachelor's degree in Business Administration, Finance, Accounting, a related field or equivalent education required.
• Three to five years progressively responsible experience in mortgage origination or secondary marketing, securities processing and/or other mortgage and security collateral related positions within the financial services industry.
• Advanced knowledge of securities and mortgage loan instruments, which includes an understanding of the Bank's eligibility requirements.
• Knowledge of origination, servicing and custodian systems for mortgages and securities, i.e., familiarity with Bloomberg, MERS (a national electronic loan registry), CSC Diligenz (a filings tracking system), electronic notes, Secured File Transfer Protocol, etc.
• Proficient with Microsoft Office suite including Excel add-ins, macros, import and export functionality and using SQL queries and other ancillary software systems or programs and/or automated database systems.
• Excellent customer service and strong oral and written communication skills.
• Must be able to multi-task and be detail orientated with strong organizational skills to facilitate and complete the daily workflow with a high degree of accuracy while meeting stringent deadlines.
• Must have some basic accounting skills for system balancing and reconciliation and research.
• Must be results driven and take initiative in a fast-paced work environment to problem solve and to interact with all internal and external stakeholders.

Salary Range: $120K - $130K

The Federal Home Loan Bank of San Francisco is an Equal Employment Opportunity employer and is committed to a diverse workforce. We value and actively seek to recruit, develop, and retain individuals with varied backgrounds and experiences reflecting the full diversity of the communities that we serve. It is the policy of the Bank to comply with all applicable laws concerning the employment of persons with disabilities.

Salary ranges reflect the base salary that the Bank reasonably expects to pay for a given role and is not inclusive of annual incentive award opportunities, retirement benefits or the value of other health and welfare or other ancillary benefits. We consider many factors when determining base salaries such as individual background and experience, the competitive environment, education, particular skill set(s), and industry and institutional knowledge.

The Bank is committed to offering all team members challenging and engaging work with market competitive pay, retirement, and benefit offerings. In support of this commitment, the Bank routinely engages in market competitive benchmarking surveys and analysis to ensure our team members continue to be paid fairly and competitively.