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VP Capital Markets

Employer
Alerus Financial
Location
Minnetonka
Salary
Join our team!

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Industry
General
Role
Other
Job Type
Long-Term
Hours
Full Time

Job Details

The VP Capital Markets position will lead and oversee the Capital Markets division for Alerus, including hiring and managing the employees necessary to properly manage the division. In addition, this position will assist with selection of our secondary market hedge partner and work with them to properly manage operational risk, efficiency and profitability.

Essential Responsibilities:

Job Function Number 1: Manage Centralized Lock Desk 40%
  • Hire, develop and lead a high performing centralized lock desk team.
  • Develop the best pricing model option through Optimal Blue to streamline the mortgage lock process for mortgage sales.
  • Oversee rate exceptions and create monthly reports for management review.
  • Manage rates to ensure Alerus remains competitive within the market at all times.
  • Understand and analyze pricing exceptions to balance competitiveness and rate changes.
  • Subscribe to national rate management source, i.e., Heitman Analytics to fully understand the market. Use market knowledge to adjust rates as needed.
  • Provide high level customer service to all mortgage team members to maintain the Alerus culture.
  • Maintain and update rates sheets for all origination channels and investors.
  • Manage timely and accurate repricing as necessary to manage profitability and risk.

Job Function Number 2: Execute Best Efforts/Mandatory Sales 40%
  • Develop Alerus Strategy for moving pipeline from Best Efforts to Mandatory.
  • Manage the day/day oversite of the markets and our hedge strategy.
  • Assist with identifying investors to purchase Alerus portfolio loans to free up concentration within the portfolio when necessary. Manage these sales to create a consistent and appropriate revenue stream.
  • Create the appropriate model to properly manage capital allocation, ensuring the maximization of revenue.
  • Analyze and recommend the best hedge function process and third party partner.
  • Responsible for price elasticity testing, working to maximize the volume and margin mix.
  • Work with Accounting, Compliance and Loan Delivery to ensure maximization of capital in consideration of operational and financial capacity constraints.
  • Track and report margin, volume and market share by channel and investor.
  • Communicate strategies and results to senior management as requested.

Job Function Number 3: Investor Relations 20%
  • Maintain strong relations with all key investors to ensure that we are receiving the best price options associated with their product line.
  • Recommend adjustments to add new investors or discontinue existing investors when necessary to leverage our key partnerships appropriately.

Position Requirements:

Qualifications:
  • Bachelor's degree in Finance, Accounting, Economics or related field.
  • Five or more years of experience in the job or related and relevant experience.
  • Proficient in Microsoft Programs.

Personal Characteristics:
  • Strong leader with the ability to build rapport with all mortgage employees and Alerus leadership.
  • Excellent communication and presentation skills.
  • Strategic leader with past history of execution and goal achievement

Physical Demands: (must be met with or without a reasonable accommodation)
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.
  • Requires the routine & safe operation of a motor vehicle to travel between multiple locations to perform the essential functions of the job.
  • May require travel outside of our footprint states to meet with investors or other key partners.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

Company info
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