Credit Risk Review Officer Retail Credit Risk 2LOD

CREDIT RISK REVIEW OFFICER RETAIL CREDIT RISK 2LOD

WHAT IS THE OPPORTUNITY?

Responsible for ensuring the accuracy, completeness, and compliance of the mortgage and HELOC files in the Residential Lending portfolio.

This position involves conducting periodic post-closing QC / QA of loan files, identifying discrepancies, and ensuring compliance with underwriting policy, FNMA guidelines, and applicable lending regulations.

Provides comprehensive credit risk assessment of the Residential Lending portfolio's credit quality, credit processes, risk concentrations and risk management practices through evaluating, monitoring and reporting on the credit portfolio.

Performs ongoing credit risk monitoring and credit testing / reviews to provide assurance on the management of credit risk practices, process controls, and portfolio quality, including the level of credit risk and its future direction, in Residential Lending.

Provides prompt feedback to 2LOD Credit Administration Management on the results of monitoring and scheduled QC / QA activities.

The ideal candidate will possess a strong understanding of mortgage and HELOC processes, compliance and regulatory lending requirements, attention to detail, and excellent analytical skills.

WHAT WILL YOU DO?

• QC / QA and Credit Risk Evaluation
• Conduct comprehensive QC / QA of mortgage and HELOC loan files to ensure accuracy, completeness, and compliance with underwriting policy, FNMA guidelines, and applicable lending regulations.
• Utilize Testing Procedure / guidelines including reference materials / job aids as key tools in the analysis and support of assessments.
• Analyze borrower cash flow, including DTI calculation, appraisal and LTV adequacy, FICO, and guarantor support. Analyzes tax returns and determines the individual and global cash flow of individuals / estates / trusts.
• Verify that all required documentation is present and properly executed.
• Identify and document testing results, including any discrepancies or deficiencies in the loan files.
• Perform testing on the QC / QA function within Residential Lending to ensure accuracy and compliance with FNMA guidelines.
• Ongoing Credit Risk Monitoring
• Perform on-going credit risk monitoring of the Residential Lending portfolio and 2LOD Credit Administration activity, and executes a risk-based desk testing / review process by identifying areas of increasing risk.

Ongoing monitoring is a forward-looking process designed to identify leading indicators that pose increased risks.

Monitor credit risk in the Residential Lending portfolio to identify asset quality deterioration or negative management control trends;

and review compliance with credit policies / underwriting guidelines and regulations.

• Assess the effectiveness of the management of credit risk practices through the periodic Credit Risk Monitoring Reports by identifying and monitoring key credit risk factors, emerging issues, trends and / or vulnerabilities.
• Identify and evaluate the effectiveness of credit risk process controls by conducting continuous monitoring, which includes in-depth discussions with the division / region's senior management as necessary.
• On a periodic basis, assist with compiling the Emerging Credit Risk Profiles to detect and identify the risks in the Residential Lending portfolio.
• Documents results / trends of ongoing monitoring according to the Quarterly Credit Risk Monitoring Standards and provides periodic risk assessments of assigned portfolios including the level / characteristics of the emerging credit risk profiles and the direction of risk.
• Evaluates MIS data and identify adverse trends of leading and lagging performance indicators.
• Analyzes trends and shares results with 1LOD Risk & Compliance, Front Line Units and other senior bank management.
• Front Line Unit / LOB Partner
• Clearly communicates sensitive issues at the highest level of management.
• Foster internal and CNB-wide peer relationships that support a culture of trust and interdependence.
• As a resource for credit risk identification, provides technical guidance to the credit underwriting / approval units on credit policies and control procedures / best practices to enhance quality and consistency.
• Interacts as requested with 1LOD LOB and 3LOD (Credit Risk Review, and Internal Audit).

Must-Have*

• Bachelor's Degree or equivalent
• Minimum of 5 years of experience in mortgage and HELOC underwriting, quality control, or quality assurance. Strong understanding of mortgage and HELOC regulations and guidelines.
• Minimum 5 years of experience in credit risk portfolio management, credit administration, loan origination, and / or credit analysis
• Minimum 5 years of experience in a banking environment or risk management consulting or in the financial services industry in risk related roles
• Minimum 5 years of advanced level experience in Microsoft Office skills, including Word, Excel, Access and PowerPoint

Skills and Knowledge

• Prefer a minimum 8 years of experience in credit analysis, underwriting, or lending in a variety of industry types including Leveraged lending, C&I, CRE, specialized industries including Healthcare, Aerospace & Defense, Food & Beverage, Municipality, Renewable Energy, Capital Markets, Diversified Industries, Mortgage Warehousing, Franchise Finance, ABL.
• Previous credit review experience highly preferred.
• Highly conversant in GAAP financial principles.
• Broad knowledge of corporate finance concepts and theories.
• Strong understanding of credit processes and systematic controls.
• Experience in a BASEL credit risk environment.
• Proficient analytical skills in Credit, quantitative and statistical, including cash flow computations, complex financial statements & industry analyses, rent rolls, MIS data extrapolations and legal documentation.
• Demonstrated knowledge of industry credit processes, lending policies, and current financial environments.
• Ability to analyze portfolio trends at a macro level, identifying emerging credit risk levels / profiles and symptoms of process control breakdowns.
• Ability to initiate and implement continuous improvement of the Quarterly Credit Risk Monitoring process by setting challenging goals and developing new and innovative approaches to deliver consistently high-quality results.

COMPENSATION

Starting base salary : $92,114 - $156,880 per year. Exact compensation may vary based on skills, experience, and location.

This job is eligible for bonus and / or commissions.

To be considered for this position you must meet at least these basic qualifications

The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification.

It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues.

Get an inside look at our Benefits and Perks.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.

ABOUT CITY NATIONAL We start with a basic premise : Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish.

City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to be at the heart of our company today.

City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.