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Deutsche Bank · 1 day ago

Head of Diligence, Transaction Management and Non-Financial Risk – Whole Loans Trading - Director

New York, NY

Full-time

Hybrid

Lead/Staff

$224K/yr - $300K/yr

Deutsche Bank is a leading global investment bank, and they are seeking a Director to lead the Diligence, Transaction Management and Non-Financial Risk team for the Whole Loans Trading business. The role involves overseeing diligence programs, managing transaction processes, and ensuring compliance with non-financial risk regulations.

BankingFinanceFinancial Services

Responsibilities

Develop, implement and oversee the Whole Loans Trading Diligence program, including:

Counterparty diligence

Engaging, onboarding and evaluating third party counterparty diligence firms

Working with third party firms to develop testing protocols and scripts for counterparty diligence reviews

In coordination with third party diligence firms, perform counterparty diligence reviews to develop independent recommendations to management regarding counterparty suitability and business selection

Loan-level diligence

Engaging, onboarding and evaluating third party loan-level diligence providers

Evaluating the third-party loan-level diligence provider testing protocols for suitability

Overseeing loan-level diligence for all loan purchases including compliance, credit, collateral and valuation

Working with the desk to evaluate and manage any loan-level diligence exceptions identified

Servicer diligence

Engaging, onboarding and evaluating third party servicers

Evaluating third-party servicer governance, policies, procedures and controls for suitability (including compliance with applicable laws, rules and regulations)

Overseeing servicer diligence prior to engagement and on an ongoing basis

Working with the desk and the servicer on an ongoing basis in response to any real-time loan-level issues

Vendor engagement, diligence and oversight

Rating agencies

Counterparty diligence providers

Loan-level diligence providers

Servicers

Custodians

Partner with the desk on Transaction Management lifecycle processes, including:

Pre-bid and post-bid diligence

Agreement drafting and negotiations

Transaction agreement reviews

Settlement management and post-settlement processes

Day-to-day servicer oversight, particularly on loss mitigation issues

Securitization eligibility analysis

Management of collateral curative programs

Develop, implement and oversee the Whole Loans Trading Non-Financial Risk program, covering loan acquisition, warehouse risk and securitization activity, with responsibility for governance, controls and execution across consumer and securities compliance as well as legal and reputational risk, including but not limited to:

Consumer and asset-level (including FRB Regulation Z, Fair Housing Act)

Securitization and capital markets (including SEC Rule 10b-5 Antifraud, pool construction governance and Reps & Warrants framework considerations); and

Legal, reputational and franchise risk management

Partner with Chief Operating Officer (COO) and the desk on key governance forums, including the Whole Loans Trading Oversight Forum (WLTOF) and ABS New Issue Approval Committee (NIAC)

Partner with the desk and COO to develop, manage and improve the Whole Loans Trading technology and infrastructure front-to-back stack on an ongoing basis, including:

Counterparty onboarding

Counterparty, underlying borrower, product and trade reference data

Transaction capture

Risk and Profit & Loss

Reporting obligations

Drive Whole Loans Trading change-the-bank program to completion in preparation for Day 1 trading

Support other aspects of the day-to-day activities for the Whole Loans Trading business

Drive and support transformation, remediation and change management activities across business growth initiatives as well as financial risk / non-financial risk domains

Prepare and deliver presentations covering risk profile and operating metrics

Identify process improvement opportunities; drive and support process improvement initiatives

Utilize analytical tools and soft skills to problem solve and influence across the full spectrum of business challenges

Participate in governance fora as a representative of the Business

Partner with Business Control Unit, Divisional Control Office and second line / infrastructure function colleagues to perform risk assessment and monitoring of non-financial risks, as well as manage and remediate the Business’s portfolio of findings (including regulatory findings, self-identified issues, Group Audit findings and Compliance findings)

Partner with Compliance, Anti-Financial Crime, Legal and other functions to anticipate and respond to regulatory inquiries or requests, including participation in regulator meetings

Work closely with Regulators, Group Audit, Compliance Testing, etc. in connection with internal or external exams, testing or other inquiries

React under pressure in real-time to manage and help the Business navigate crisis events or other financial / non-financial risk events

Continuously monitor and seek to enhance the Business’s operational resilience profile through partnership with Regional Management, Technology, Facilities, Third Party Risk Management, Non-Financial Risk Management, Compliance, Facilities and other functions

Engage on Know Your Customer and other Client Onboarding matters where needed, in parallel with broader client perimeter growth or reduction initiatives aligned with business strategy; maintain understanding of the Business’s client perimeter

Partner with Operations on middle and back office process enhancement opportunities; address real-time issues where needed

Qualification

Whole Loans Trading experienceResidential Mortgages knowledgeProject management experienceMicrosoft Excel fluencyMicrosoft PowerPoint skillsAnalytical tools proficiencyWork autonomouslyInterpersonal skillsPresentation skillsProblem solvingCritical thinkingLeadership skillsSelf-starterWork under pressure

Required

Previous experience in Whole Loans Trading relevant roles either on the buy/sell side, or at an originator or servicer

Strong knowledge of Residential Mortgages space, particularly: Non-Agency mortgage loans, Non-Agency mortgage loan underwriting guidelines, The operations of independent mortgage banks, The functions performed by mortgage loan document custodians, third-party due diligence firms and residential mortgage loan servicers, Contract finance (non-disclosure agreements, mortgage loan purchase agreements, trade confirmations and bid stipulations, bills of sale, warehouse lender lien release letters, collateral release letters), Bailee letters, trust receipts, exception reports, inventory reports, Due diligence reports (credit, compliance, value, data, title, modification, pay history and collector comments), Mortgage loan schedules, Funding memos, Repurchase requests, early payment default and premium recapture, Servicing transfers, 404 notices, hello / goodbye letters, Loss mitigation processes, Servicer reporting and remittances, Whole loan sales, Rated and unrated securitizations, Securitization documentation including private placement memorandums, trust agreements, indentures, note purchase agreements, ASF data tapes, 17G filings

Strong project management experience

Excellent interpersonal and presentation skills; ability to constructively influence and advise key stakeholders

Strong problem solving and critical thinking

Ability to lead, as well as collaboratively drive consensus and change

Self-starter; ability to work autonomously where needed

Ability to work in a dynamic, fast-paced and high-pressure environment

Microsoft Excel fluency, a must

Strong Microsoft PowerPoint skills, a must

Preferred

Experience with other analytical tools such as Tableau, Alteryx, Python, etc

Benefits

We offer competitive health and wellness benefits, empowering you to value life in and out of the office

Retirement Savings Plans, Parental Leave, and other family-friendly programs

On-site cafeteria, health center, and communal meeting areas

Active engagement with the local community through Deutsche Bank’s specialized employee groups

At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That’s why we are focused on providing benefits and perks that enable our colleagues to live authentically and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home.