The Policy & Governance Vice President is responsible for laying the groundwork of CRM’s independent oversight pertaining to Company’s Home Loans business by establishing, implementing, and routinely updating policies, procedures, and guidelines. In addition, the officer will conduct research, prepares presentations for various committees and governance bodies, and facilitates regulatory requests and external audits that involve the extension of credit through the residential mortgage platform. The officer will manage and ensure compliance with the various credit policies and procedures such as Underwriting Guidelines, pertaining to Company’s Residential Mortgage business. Additionally, this position is heavily involved in new product development, meetings with business partners, Training, and PMO Strategic Initiatives. The position requires the ability to effectively perform in a fast-paced environment and collaborate with other groups within CRM, the Residential Mortgage business, and outside consultants.
• Review loan requests and evaluate risk, assess client’s financial strength or weakness as it pertains to the proposed loan through credit memos provided by underwriters and determine appropriate policy exceptions for approval or decline
• Make final recommendation to Sr. Management for deals beyond your lending authority
• Identify, evaluate, and address credit risk that arises from the development, deployment, interpretation and maintenance of the Underwriting Guidelines in support of new mortgage products, performance issues, product enhancements, changes to the industry and regulatory landscape, and business-as-usual operations
• Be able to recommend and socialize updates to the Underwriting Guidelines based on experience, market changes, portfolio and regulatory landscape
• Train and assist in implementing guideline changes and remain vigilant over the business to ensure that Underwriting Guidelines are fully digested and followed by the 1st line
• Be able to verbalize and discuss the current risk appetite to the business Lead and assist in the management and tracking of Credit Risk Strategic Initiatives
• Assist in building Regulatory responses and present research and conclusions as-needed
• Assist in the analysis of the portfolio to identify areas of risk, growth and concentrations.
• Lead efforts to ensure the Underwriting Guidelines, procedures and policies remain in compliance with applicable regional and state laws and regulations
• Provides support and training regarding the Underwriting Guidelines to fulfillment and underwriting
• Bachelor’s degree required
• Minimum 10 years’ experience in the mortgage industry
• Minimum 5 years’ Credit experience in mortgage industry
• Expertise and thorough understanding of credit and portfolio management, mortgage underwriting, mortgage servicing, and credit analytics
• Strong analytical skills
• Strong verbal and written communication skills and the ability to effectively convey information to various levels of management
• Credit Risk related project management experience with the ability to take on, manage, and successfully execute multiple projects of various levels of complexity and urgency
• Strong organizational/time management skills
• Ability to work independently but also thrives in a team environment
• Heavy attention to detail
• Strong presentation skills and are comfortable presenting materials in various forums and to various levels of staff, management, auditors and regulators
• Application experience required; Microsoft Visio, PowerPoint, Excel
• Experience and knowledge of agency (FNMA/FHLMC) guidelines, policies, and procedures as well as Jumbo Prime and Non-Agency guidelines
• Ability to make calculated risk-based decisions and defend and convey them to affected stakeholders, make timely decisions and propose recommendations to mitigate or reduce risk
• Technical skills and familiarity with credit underwriting, such as financial statement analysis, asset valuation, discounted cash flow modeling, etc.
• Some understanding of regulatory oversight and Basel Capital Standards, CECL, CCAR/DFAST, etc.