VP Credit Risk
| Company | Newrez |
|---|---|
| Location | Coppell, TX, USA |
| Salary | $Not Provided – $Not Provided |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Senior, Expert or higher |
Requirements
- 7+ years of Credit Risk experience.
- Experience with People Management.
- Degree preferred in the area of Economics, Accounting, Finance or Business.
- Advanced Computer skills, Excel, PowerPoint, Word. Strong analytical skill set.
- 10 years of Mortgage Experience preferred.
- Non-QM experience and knowledge is a huge plus.
- Previous experience leading large projects helpful.
- Demonstrate ability to communicate sensitive information, both verbally and in writing to an executive audience.
- Maintain independent risk view while working with internal partners to accomplish their goals.
Responsibilities
- Monitor credit quality metrics, FHA compare ratio, EPDs, DLQ rates, SLEs, Agency scorecards, Housing Policy changes, credit policy changes and credit overlays across all lending channels and escalate high risk concerns.
- Monitor credit guideline overlays and recommend approval/denial on significant credit policy changes.
- Assist the Chief Credit Risk Officer in defining, identifying, and communicating key emerging credit risks and provide recommendation for mitigating concerns.
- Subject matter expert and resource to business partners for all GSE, Agency, Bond, Jumbo, QM and Non-QM changes in the industry.
- Facilitate Credit Policy Council meetings with senior management in Sales, Operations, Product Development, Compliance and Quality Control to discuss and approve changes to credit policy, overlays, and procedures.
- Maintain risk oversight to Product Development launches, Credit Policy changes, LOS deployments, Mavent custom rule changes, and Digital Select (AI) deployments.
- Maintain regular meetings with Quality Control to review manufacturing quality (Pre-Fund, Post-Fund and GSE NAQ rate), tall bars and underwriting MAPs currently in place.
- Maintain regular meetings with the Repurchase and Remedy team to review repurchase demands, rebuttal rate, and scratch and dent exposure.
- Work effectively with Retail, Wholesale, and Correspondent channel leadership to establish best practices, reporting and monitoring. Develop solutions to problems with consideration for company goals while managing relationships between departments.
- Review investor and agency bulletins to determine Newrez’s credit appetite for guideline expansions and create awareness, visibility, and escalation on manual workarounds.
- Monitor investor and agency credit guidelines including reviewing Newrez origination policies to verify that they are within Newrez’s credit risk appetite.
- Work with the GSEs on Term of Business variances, risk concerns, scorecards, and delivery issues.
- Review representation and warrants in Investor MLPAs and warehouse Master Repurchase Agreements.
- Disposition and monitor single loan exceptions.
- Collect and review Investor, Agency, Mortgage Insurance scorecards and investor profiles and escalate findings.
- Manage departmental policies, procedures, and standards to enhance efficiency and work quality.
- Lead Credit Risk projects. Establish scope and objectives and develop the strategy for completion.
- Lead a culture of change and innovation in risk management.
- Provide leadership and ongoing personal development opportunities for your team.
Preferred Qualifications
- 10 years of Mortgage Experience preferred.
- Non-QM experience and knowledge is a huge plus.
- Previous experience leading large projects helpful.