Mortgage Product Development Specialist

Our Loan Originations Department is seeking a new Mortgage Product Development Specialist to join their team!

At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility, hybrid schedule after initial onboarding has been completed (3 days in office, 2 days remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

PRIMARY PURPOSE:

Contribute to overall team by managing the product development lifecycle from ideation to launch, including product planning, development, testing, and release. Set goals for products, manage vendor relationships, monitor competitor activity, and participate in testing.

• ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Identify enhancements needed for processes, Loan Origination systems, pricing engines, and document vendor interfaces to support new or enhanced product offerings. Evaluate new product requests and manage new product request database.
• Perform market research to inform product strategy and development, pricing and go-to-market strategy.
• Create materials related to new product offerings including product profiles, underwriting guidelines, new product announcements, and training presentations.
• Leverage consistent project management standards to ensure the successful implementation of all mortgage products.
• Effectively engage partners in other departments (Legal, Credit Risk, Compliance, Fair Lending, QC, Post Closing, etc.) in the product development process to ensure parameters are within risk tolerances and department specific needs or issues associated with new or enhanced product are identified. Work with marketing and sales teams to develop go-to-market strategies and launch plans.
• Apply system updates for product and eligibility rules within pricing engine (EPPS) and Loan Origination System (Encompass).
• Test all fee and loan package information for new products and product updates to determine acceptability prior to implementation.
• Ensure product offerings are always within investor standards so that loans carry the highest level of marketability and liquidity.
• Define and track key performance metrics for the product and use data to inform product decisions.
• Develop and maintain strong relationships with internal and external stakeholders.
• Act as a product champion, promoting the product internally and externally.

JOB SPECIFICATIONS:

Knowledge, Skills & Abilities

• Excellent verbal and written communication skills.
• Strong analytical skills with attention to detail.
• Strong organizational skills with ability to appropriately prioritize assigned tasks.
• Strong project management skills.
• Proficient in Microsoft Office Suite and banking software applications. Preferred Encompass, FISERV, Encompass Product & Pricing, All Regs, and Commerce.
• Demonstrated knowledge of banking regulations, governmental and secondary market requirements

Experience & Education

• Bachelor’s Degree in business, finance, or related fields preferred.
• 3+ years of mortgage experience with solid knowledge of program guidelines and secondary market requirements

Working Conditions/Physical Requirements
Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.

Equal Opportunity Employer
OceanFirst is an equal opportunity employer. It is the Bank’s policy to grant Equal Employment Opportunity (EEO) to all qualified persons without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, lactation and related medical conditions), gender identity or expression (including transgender status), affectional or sexual orientation, marital status, familial status, civil union or domestic partnership (under applicable state law) status, veteran’s status or liability for service in the United States armed forces, disability (including AIDS and HIV infection), atypical hereditary cellular or blood trait, genetic information, or any other characteristic protected under applicable federal, state, or local law.

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Referral program
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• Monday to Friday

Supplemental pay types:

• Bonus pay

Work Location: In person