VP Credit Risk

The VP Credit Risk develops and monitors credit policy, evaluates Credit Risk across all platforms and creates and monitors Credit reporting for all business channels. This role will also include creation and oversight of counter party agreements, which includes but is not limited to, enforcement, reporting, performance management, client escalations and agreement renewals. Also responsible for Pre-funding Quality Assurance functions, including the sample selection, audit, and reporting of Pre-funding Quality Assurance results for all channels and loan types. The VP will lead, develop, execute, and maintain the Origination Quality Assurance Department. Ensure the department meets all investor and company guidelines for the selection, audit, and reporting of Quality Assurance performance metrics

• Direct oversight of Counterparty and Loss Mitigation policies and procedures.
• Establish practices that lead to limiting operational risk by identifying material risk gaps within systems, people and processes and reducing conflict of interest within procedures.
• Monitor Counterparty risk.
• Establish credit procedures and migrate to AllRegs.
• Monitor client trends for EPD, repurchase and indemnification.
• Review and update department policies and procedures.
• Contributes to the strategic planning of the department to prevent future loss.

Quality Assurance              

• Directing the Quality Assurance team to ensure results are met as laid out in the Quality Assurance plan and objectives
• Maintain Policies and Procedures that meet all Investor guidelines regularly
• Track completion of audit findings and ensure performance meets all audit turnaround times on file reviews.
• Oversee the performance of the required monthly vendor audits as needed
• Meet with senior level channel leaders monthly to review high level trends
• Ensure established performance bench marks are achieved.
• Implement tracking standardizations to ensure all finding levels and responsible parties are managed to provide accurate external data for quality performance tracking down to the loan level.
• Gather and analyze all Quality Assurance results and communicate these findings and suggest corrective action throughout the organization
• Seeks information on issues impacting the progress of organizational and process issues.
• Translates data into continuous improvement activities that enhance performance.
• Develop executive level reporting which are distributed monthly to senior level management
• Manage department budget to corporate expectations
• Performs related duties as assigned by management.

• Degree preferred in the area of Economics, Accounting, Finance or Business.
• 8+ years of Credit Risk experience.
• 8+ years of People Management.
• 5+ years of underwriting or quality control experience in government, conventional and Jumbo mortgage lending                                              
• 10 years of Mortgage Experience.
• Previous Experience with Correspondent Lending and associated processes.
• Previous experience leading large projects.

• Advanced skills in Excel, PowerPoint, and Word.
• Excellent interpersonal, oral and written communication.
• Ability to research and recommend policy changes and process improvements as needed and making sure to keep abreast of agency underwriting and quality control agency guidelines and requirement.
• Ability to effectively facilitate meetings, develop management reports and to report out the monthly results to senior management.
• Ability to research, evaluate, and interpret Quality Assurance results and to effectively communicate these to determine trends and training issues and to successfully communicate these needs to be operations/credit teams.

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

Additional Information:

While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.

All employees are required to have smart phones that meet Company security standards with the ability to install apps such as Okta Verify and Microsoft Authenticator. Employment will be contingent on this requirement.

Company Benefits:

Newrez is a great place to work but we are only as strong as our greatest asset, our employees, so we believe in rewarding them!

• Medical, dental, and vision insurance

• Health Savings Account with employer contribution

• 401(k) Retirement plan with employer match

• Paid Maternity Leave/Parental Bonding Leave

• Pet insurance

• Adoption Assistance

• Tuition reimbursement

• Employee Loan Program

• The Newrez Employee Emergency and Disaster Fund is a new program to support our team members

Newrez NOW:

• Our Corporate Social Responsibility program, Newrez NOW, empowers employees to become leaders in their communities through a robust program that includes volunteering, philanthropy, nonprofit grants, and more

• 1 Volunteer Time Off (VTO) day, company-paid volunteer day where all eligible employees may participate in a volunteer event with a nonprofit of their choice

• Employee Matching Gifts Program: We will match monetary employee donations to eligible non-profit organizations, dollar-for-dollar, up to $1,000 per employee

• Newrez Grants Program: Newrez hosts a giving portal where we provide employees an abundance of resources to search for an opportunity to donate their time or monetary contributions

Equal Employment Opportunity 
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.

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