OverviewThe Counterparty Risk Program Manager is responsible for leading and overseeing the organization's Counterparty Risk Management program, ensuring effective governance, regulatory compliance, and risk mitigation across all client and affiliate relationships.
Responsibilities- Lead and oversee the Counterpart Risk Management program for clients with whom LoanCare has a potential or existing contract relationship, including affiliates.
- Ensure compliance with ERM policies, risk appetite, applicable regulatory requirements, including NYDFS, CFPB, OCC, Federal Reserve, and FDIC, as well as client expectations.
- Manage day to day departmental activities to ensure successful implementation and ongoing execution of a regulatory compliant counterparty risk program.
- Ensure all client due diligence activities are completed in accordance with LoanCare control standards.
- Identify, assess, and escalate client related risks and issues as appropriate.
- Coordinate and facilitate meetings with operational departments to communicate findings, risks, and remediation plans.
- Analyse regulatory requirements and service provider activities to ensure program governance remains aligned.
- Maintain accurate and complete data within applicable systems to support data integrity, ongoing monitoring, regulatory examinations, audits, and client and investor due diligence requests.
- Develop and maintain professional working relationships with vendors, clients, internal teams, and industry partners.
- Develop, monitor, and report Counterparty Risk metrics to include KPIs, KRIs, and emerging risks.
- Coordinate change management activities across Counterparty Risk teams including Third-Party Risk Management and Sourcing/Procurement.
- Prepare and deliver management reporting on all aspects of the Counterparty Risk program, including monthly status reporting.
- Provide training, guidance, and mentorship to junior staff.
- Serve as backup and escalation support for junior staff as needed.
- Request, develop, update, review, test, finalize, approve, and maintain department policies and procedures, process flows, templates and training materials.
- Escalates non-compliance with regulation, policies and procedures for review and risk acceptance when necessary
- Support regulatory exams, audits, ratings agency reviews, investor inquiries, and client requests by gathering documentation and drafting responses.
- Stay current on industry trends, regulatory changes, and agency guidance (e.g., CFPB, OCC, HUD) that impact clients and the organization.
- Maintain comprehensive knowledge of and adherence to all applicable investor, government, client, and LoanCare policies, procedures, and requirements.
- Recommend enhancements to processes, procedures, controls, and governance to strengthen risk management effectiveness.
- All other duties as assigned.
Qualifications- High School Diploma or equivalent required.
- Bachelor's Degree in business or related field. An equivalent combination of education and related work experience may be accepted in lieu of a degree.
- 10+ years of experience in Counterparty, Third Party Risk Management or Vendor Management, preferably within mortgage servicing or mortgage banking.
- Advanced knowledge of regulatory requirements governing service provider management, including OCC, Federal Reserve, FDIC, NYDFS, and CFBP.
- Advanced proficiency in Microsoft Office (Word, Excel, PowerPoint).
- Advanced knowledge of SharePoint.
- Strong verbal and written communication skills.
- Strong analytical, critical thinking, and problem-solving abilities.
- Excellent time management and organizational skills.
- Demonstrated ability to identify overlap and alignment among internal policies and procedures, client requirements and state and federal regulatory requirements.
- Ability to prioritize effectively in a resource constrained environment.
- Proven ability to multitask in a fast paced, high visibility environment.
- Ability to work independently and collaboratively within a team.
- Self-motivated with strong initiative, attention to detail, and ownership mindset.
Desired Skills and Qualifications- CRVPM, CTPRP, or other applicable TPRM certification
- Previous audit, compliance, or quality control experience preferred
Total RewardsLoanCare's Total Rewards Package offers a comprehensive blend of health and welfare, financial, lifestyle and learning benefits to support employee well-being and engagement. Highlights include:
- Health & Welfare Coverage: Optional medical, dental, vision, life, and disability insurance
- Time Off: Paid holidays, vacation, and sick leave
- Retirement & Investment: Fidelity National Financial matching 401(k) and employee stock purchase plans
- Wellness Programs: Access to mental health resources, including free Calm memberships, and initiatives that promote physical and emotional well-being
- Employee Recognition: Programs that celebrate achievements and milestones
- Lifestyle & Learning Perks: Enjoy discounts on gym memberships, pet insurance, and employee purchasing programs, plus access to a tuition reimbursement program that supports your continued education and professional growth.
Compensation Range: $74,600 - $139,800 annually. Actual compensation may vary within the range provided, depending on a number of factors, including qualifications, skills and experience.
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