This position has responsibility for the establishment, communication and implementation management of all Company MI credit policies and credit policy project management.
This position regularly interacts with numerous departments and levels throughout the organization, including but not limited to: Pricing, Client Risk, Underwriting, Sales, Quality Control, Business Systems, Customer Service, Marketing, Servicing, Claims, and Legal.
Utilizing qualitative analysis skills, project management and strategic decision-making skills, this position leads the Credit Policy team. Credit Policy management involves the assessment, management, and monitoring of factors that influence the composition and performance of the Company MI first lien portfolio. These factors include but are not limited to: borrower, loan, and property characteristics, as well as influences from the market, lender/originator/servicer, and other elements that affect loan performance.
Company MI is a new and growing mortgage insurance company with a strong and global parent - Company Capital Group Ltd. If you're interested in joining a dynamic company and working with a team of motivated, high caliber people, apply today and come grow with us!
- Manage the development, execution and communication of credit & exception policy, underwriting guidelines & authority levels and risk philosophy for all first lien mortgage insurance.
- Oversee the development, documentation and maintenance of credit policy workflows & procedures; ensuring the department meets compliance requirements.
- Research and oversee critical credit policy projects, working with appropriate cross-functional departments to develop robust recommendations and/or resolutions; crafting workflows, policy and procedures as needed.
- Oversee and support the Company rules-based underwriting system including credit policy eligibility rules and compensating factors, analysis and interactions with IT, Business Systems and other business units as needed.
- Maintain knowledge of industry and economic trends/developments as they relate to Company MI's management of credit and market risk, including but not limited to: GSE, competitor and secondary markets.
- Serve as primary point of contact with Fannie Mae and Freddie Mac related to credit policy issues. Maintain strong working relationships with key contacts at the GSEs to assist in the assessment of GSE guidelines and their ongoing influence on the MI industry credit exposure.
- Partner with SVP, Credit Risk Management to maintain current knowledge of the portfolio composition (including lender and credit union account portfolios), utilizing the analysis to modify and/or create credit policies or approve/modify credit policy variances in order to enhance the performance of the first lien portfolio.
- Support the execution of credit risk transfer transactions, assisting the SVP with due diligence results, transaction analysis and collection and communication of credit policy specific to the event.
- Support the Client Risk teams in the review and decision-making process specific to credit policy waivers/variances and the overall credit policy arena, ensuring appropriate balance of risk with customer requests and the broad understanding of macro risk
- Support Underwriting Operations in the implementation of Company MI credit policy and exception process as well as the impact to our customers and underwriting staff. Oversight to Field Operations policies and procedures to ensure that appropriate credit risk is maintained within the company.
- Conduct regular review of Company MI marketing materials to ensure adherence to current credit policies and risk philosophies.
- Conduct analysis of structured/bulk transactions presented to credit risk for review, ensuring the application of Company MI credit policies to the review of those transactions.
- Provide effective leadership to credit policy team, while enhancing professional development and skills of the group.
- Other special projects and assignments as needed or as assigned.
- Support Company Mortgage Funding (AMF) in the development and maintenance of credit policy including all aspects of management and communication.
Knowledge & Skills:
- Extensive knowledge of first lien mortgage lending, mortgage insurance and credit policy management.
- Maturity of judgment and decision making related to credit risk management and underwriting execution.
- Proven ability to think strategically, create and implement detailed action plans, provide results within dynamic working environment involving time critical deadlines.
- Proven ability to identify issues, propose solutions and gain acceptance of ideas within a diverse organization.
- Excellent written and verbal communication skills, demonstrated success in presenting to senior level executives.
- Strong working knowledge of business technology and risk applications.
- Strong knowledge of secondary market including the role & responsibilities of the GSEs, Wall Street, and major investors - products, personnel, and systems.
- Ability to organize staff to accomplish wide variety of tasks efficiently and effectively. Ability to structure individual jobs and incentives in a manner that motivates employees to perform in a manner that supports company objectives.
- High degree of proficiency in all MS Office applications as well as project management applications and process mapping software.
Education & Experience:
- Bachelor's Degree or equivalent experience.
- 15+ years' experience in mortgage credit and/or operational risk management, mortgage portfolio risk management and/or underwriting management.
- Exceptional project management expertise, analytical and research skills as well as the ability to conceptualize complex business issues and distill large bodies of information into meaningful recommendations.
- Relationship management experience with cross functional work groups
Working Conditions/Environment & Physical Demands:
- Normal office environment - The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this Job. Reasonable accommodations will be made to enable qualified individuals with disabilities to perform the essential functions of the Job.
- Attendance/Punctuality - Is consistently at work and on time; Ensures work responsibilities are covered when absent.