The Office of Securities Operations (OSO) is led by Senior Vice President John T. Daugherty.
The office is responsible for three major business functions: Ginnie Mae Mortgage Backed Securities Operations; Ginnie Mae’s Transformation and Modernization effort; and Ginnie Mae’s Program Administration/Customer Outreach.
The Operations Division is responsible for leading Ginnie Mae’s securitization platform, which largely includes the pooling of loans, creation of securities, investor reporting, timely payment to security holders and reporting daily, weekly and monthly disclosure information on new issuances and outstanding Ginnie Mae securities to the public. In addition the change control board (CCB) is managed by this team. The CCB ensures collaboration with business and systems owners and schedules system enhancements to ensure Ginnie Mae has the capacity and flexibility to support the marketplace. Operations is responsible for ensuring that all system/applications used for program execution are well functioning, kept up-to-date and meet business needs.
The Process & Product Division (P&PD) is responsible for working closely with Ginnie Mae’s program offices in designing, developing, testing (Unit, System Integration Testing (SIT), Quality Assurance (QA), User Acceptance Testing (UAT), and Independent Verification and Validation Testing (IV&V)), implementing and decommissioning new securitization programs and products. At the project level this team is responsible for managing the lifecycle (initiation, planning, design, execution, monitoring, controlling and closure of a project) of Ginnie Mae modernization efforts. The team is also responsible for the program management of all Ginnie Mae modernization efforts. Program management entails tighter integration, issue and risk management, issue resolution and or escalation, root cause, open and frequent communication across high impact stakeholders (critical path), Dashboards, Earned Value Management Analysis, determination of success factors or performance metrics, continuous monitoring over program resources, and priorities and establishment of and continuous refresh of critical path projects and rolling 2 year roadmap that are in alignment with Agency Priority Goals and strategic plan. The P&PD is also responsible for managing the contract that support the IV&V Testing.
The Program Administration Division (PAD) is responsible for managing the contracts that support the securitization platform. The Pool Processing Agent and Central Transfer and Paying Agent (PPA& CPTA) contract as well as the Mortgage-Backed Securities Agent (MBSA) contracts are the two primary contracts that support the back-office operation. The Web Manger resides in the division and is responsible for content management, updates and publishing information to the Ginnie Mae website. The Customer Adoption Group (CAG) coordination lies within this division. The CAG collaborates with the all stakeholders to ensure that users are able to transition to new applications or new business processes efficiently. In addition there are several business analysts in PAD that conducts analysis on newly proposed enhancements prior to implementation and ensures that operational impact assessments are performed when policy changes are proposed.