Mortgage Credit Quality Lead
QUALITYCONTROL/CREDIT-RLD
WHAT IS THE OPPORTUNITY?
Responsible for developing and executing an audit/quality control function that assesses the quality of Residential Loans. Preforms risk mitigation activities by researching and developing strategies, creating action plans with remediation and effectively leading changes in policies and procedures.
Residential Lending Division
Make a meaningful difference as a member of City National's Residential Lending group. This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?
- Work collaboratively with second-line risk partners to coordinate risk management and measurement activies.
- Develop, document, maintain and update as needed, risk management policies and procedures.
- Responsible and accountable for appropriate controls and reporting related to the Residential Lending Group.
- Perform loan level documentation reviews of mortgage loans for compliance with regulatory requirements.
- Proactively identify potential business risks, process deficiencies and improvement opportunities and make recommendations for additional controls and corrective action to enhance the efficiency and effectiveness of risk mitigation processes
- Lead and deliver executive reporting and other data-driven deliverables, with a focus on providing appropriate content, context and structure in a precise and timely manner
- Maintain effective communication with other business units and support teams to remediate testing errors and assist with implementation of corrective actions related to testing fails and non-compliance with policies and procedures
- Focus on continuous improvement and evolution to meet changing requirements to support maximum visibility to the executive audience
- Conduct a wide range of quality control audits, including, but not limited to closed loans, denied and withdrawn loans and early-default loans to determine the company's compliance with legal and regulatory requirements, and Bank policy.
- Refer deficient loans to underwriter and manager for review and remediation
- Ensures each mortgage loan is underwritten in accordance with all investor guidelines, bank policies and all government regulations
- Complies fully with all Bank operational and credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
- Completes all required training and special projects as requested.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Minimum 5 years of experience as an Underwriter in a financial services or mortgage banking environment
- Minimum 5 years of experience in jumbo underwriting loans for salaried and self-employed borrowers
- Minimum 5 years of experience with banking operational risk management and industry practices
Skills and Knowledge
- Mortgage origination underwriting and/or pre-closing quality control experience preferred
- Highly organized and strong attention to detail,
- Strong knowledge of state and federal lending regulations ( i.e., TILA, RESPA, ECOA, HMDA, Fair Lending) required.
- Computer literate with experience using Microsoft applications with mortgage industry standard software, preferably InterLink E3 or NetOxygen/Gallagher.
- Ability to communicate effectively in both verbal and written form.
- Strong time management skills to plan and organize a high daily loan volume.
- Strong ability to be very detail oriented.
- Must be a team player and work constructively with their fellow colleagues.
- General knowledge and exposure to funding and loan documentation is helpful but not required.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations.
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