Vice President of Residential Mortgage Operations
This individual will be responsible for the development, implementation, and governance of comprehensive framework used to manage processing and underwriting.
Responsibilities include vendor management, managing the underwriting/credit risk management process, pipeline management, loan quality, personnel, and deal structuring of complex mortgage transactions within the high net worth space. Establishes goals and objectives for the department, develops controls and procedures for timely and accurate processing of credit reviews, while maintaining an environment focused on credit quality, service, accuracy, and efficiency.
- Investigate and resolve any internal customer concerns.
- Prepare performance evaluations for all staff.
- Provide training, direction, guidance and support to the Residential Mortgage Loan Processor "RMLP".
- Prepare Mortgage Loan Commitment Letter (Approval Letter) and Notice of Action Taken (NOAT).
- Work with various departments in the Bank to ensure that from a residential lending operations standpoint the bank is implementing "best practices" polices and workflows.
- Assist group managers and staff with process, procedural and policy questions.
- Respond to all internal and external audit requests. Review and submit all deliverables to auditors. Perform follow up on open audit items and close such items on a timely basis.
- Assure the Residential Mortgage Operations department is in compliance with SOX 404 regulations and has updated and sound Business Continuity Plan.
- Assure segregation of duties between the Residential Mortgage Loan Originator "RMLO" and the Mortgage Operations area ("MOSO", and "RMLP").
- Manage all vendor relationships and sub-servicing processes.
- Manage New Loan Interface report and perform Quality Assurance tests.
- Manage LOS Systems, including business rules, folder security and reports.
- Business Continuity Testing.
- MOSO is required to document status of loan and required information, issues and concerns into the Encompass Conversation Log.
- Approve all access requests to all mortgage related systems.
- Is responsible for underwriting and provides recommendation to the Residential Mortgage Credit Committee "RMCC".
- Responsible for updating residential mortgage related Policies and Procedures, including Operations Manual.
- Oversees outsourced mortgage servicing vendor activities.
- Minimum 15 years experience in Sr. Management Role in Mortgage Operations Management/Credit Risk/Underwriting.
- Minimum 10 years experience in developing and managing Underwriters, Processors, Business Analysts.
- Vendor implementation and management experience.
- Ability to motivate teams and simultaneously manage several projects.
- Ability to write Policies and Procedures and execute them.
- Work requires professional written and verbal communication and interpersonal skills.
- Work requires the willingness to work a flexible schedule and travel.
- Knowledge of contracting, negotiating and being a change management champion.
- Skilled in examining and re-engineering operations and procedures.
- Excellent verbal and written communication skills and comfort working with and supporting a senior management team.