Manager of Underwriting overseeing training and performance of Underwriters for residential mortgages. Ensuring adherence to guidelines and maintaining loan quality while promoting team cooperation.
About the role
- Senior Credit Underwriter responsible for assessing Alt-A mortgages within delegated limits. Engaging with third-party originators and ensuring compliance in the mortgage adjudication process.
Responsibilities
- The Senior Credit Underwriter is responsible for reviewing/recommending/approving/declining Alt-A mortgages originated from third party channels; and renewals from the prime portfolios, within their delegated credit limits.
- As a key member of the RESL team, the Underwriter is responsible for assisting in the engagement of the third-party originators/servicers and the Credit adjudication process of the bank’s residential mortgages.
- This position requires ability to analyze each mortgage deal with a high degree of professional critical thinking and use their expert judgement to recommend or decline Single Family Residential Mortgages offered by the Bank’s third-party partners.
Requirements
- University degree or equivalent - preferably in finance, business, or a related field
- A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
- Sound knowledge and understanding of Alt-A products, Prime and Reverse mortgages, operations, processes, services, systems and associated risks and controls.
- Demonstrated ability to review residential mortgage documentation, audit, perform analyses, validate, and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
- Extensive knowledge of underwriting best practices and apply them to their day-to-day work.
- In depth understanding of Residential Mortgages underwriting processes and requirements.
- Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth)
- PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications, and other software applications used within the organization.
- Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment.
- Strong analytical skills.
- Strong verbal and written communication skills.
- Attention to detail and an ability to identify potential problems within files.
- Self-motivated.
- Strong interpersonal skills.
- Work effectively in a team setting to accomplish goals and complete tasks.
- Ability to make decisions under pressure.
- Excellent time management, analytical and problem-solving skills.
- Displays pride in providing superb customer service.
Benefits
- Competitive discretionary bonus
- Market leading RRSP match program
- Medical, dental, vision, life, and disability benefits
- Employee Share Purchase Plan
- Maternity/Parental top-up while you care for your little one
- Generous vacation policy and personal days
- Virtual events to connect with your fellow colleagues
- Professional development and comprehensive Career Development program
Job title
Job type
Experience level
Salary
Not specified
Degree requirement
Location requirements
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