Job Abstract

The Vice President of Mortgage Risk Management oversees the mortgage risk management functions within the Real Estate Lending (REL) department at the Credit Union. In this critical role, the incumbent focuses on enhancing member experience, staying informed about industry trends, and leveraging that knowledge to recommend and implement new policies, procedures, products, and processes. The goal is to ensure that the Credit Union maintains its position as a market leader. Key responsibilities inc... more details

At VyStar, we offer competitive pay, an excellent benefit package that includes a 401(k) Plan, an extensive paid technical and on-the-job training program, and tuition reimbursement--available to all full and part time employees.  Part time positions start at a minimum of 30 hours per week.

We encourage you to become a part of VyStar Credit Union's family of employees.

Vice President, Mortgage Risk Management

ACCOUNTABILITY STATEMENT
The Vice President of Mortgage Risk Management oversees the mortgage risk management functions within the Real Estate Lending (REL) department at the Credit Union. In this critical role, the incumbent focuses on enhancing member experience, staying informed about industry trends, and leveraging that knowledge to recommend and implement new policies, procedures, products, and processes. The goal is to ensure that the Credit Union maintains its position as a market leader.

Key responsibilities include hiring, developing, coaching, and evaluating staff to ensure the team provides excellent member service while adhering to established policies, procedures, and processes. Additionally, the Vice President, Mortgage Risk Management must stay up to date with all relevant laws, regulations, and quality control requirements.

The ideal candidate should have familiarity with standard mortgage products, including Conforming and Jumbo fixed and ARM mortgages, VA, FHA, and USDA loans, Home Equity and HELOC loans, Construction loans, and Non-Owner Occupied and Condo lending. A thorough understanding of mortgage loan products, including processing requirements and proper documentation procedures, is essential.

ESSENTIAL JOB FUNCTIONS

• Must be risk management, quality control and compliance focused.
• Guides and directs proper application of procedures and policies by staff to achieve quality, maintain confidentiality and security controls.
• Responsible for the regular update and review of quality assurance plan & error rate thresholds, taking into consideration applicable GSE, loan correspondents, and/or specific program requirements to enable VyStar to regularly evaluate and measure progress in meeting its loan and/or servicing quality standards.  
• Knowledge of government loan quality control/quality assurance: FHA and VA approved mortgagees to include the origination and/or servicing of insured mortgages as a condition of maintaining our FHA designation, in additional to specific VA and LAPP standards for approval, as HUD and VA require certain parameters for the mortgage quality control plan (QC Plan).
• Ensure mortgage loan and/or servicing procedures and programs adhere to company guidelines, regulatory requirements and/or policies.  Work closely with Leadership to identify and/or mitigate risks and dependencies.  Including, but not limited to the review of applicable test results to evaluate product functionality for conformance with regulatory requirements and/or policies.  Identify and make recommendations to Senior Vice President, Real Estate Lending regarding process improvements, quality service and increased efficiencies within the department.
• Quality control testing, loan and servicing reviews allow VyStar to correct loan and/or servicing processes and information provided to members, helps to mitigate loan file errors that may be discovered during an examination or compliance audit of the files, and provides data upon which compliance solutions can be based. 
• Ensure quality assurance specialists properly notate loan and/or servicing files via loan notes and file uploads to ensure all communication and actions are documented for management and audit reviews.
• Prepare monthly quality control reports for all business units within REL and review with management.  Monitors for trends as action planning (including training and/or procedure updates) will be required for repetitive errors and concerns must be communicated to the Senior Vice President, Real Estate Lending.
• At times discusses and provides input from a quality and control standpoint with regards to exceptional or extraordinary transactions outside of established policies and procedures.  If appropriate, approves the decision to make an exception and reports it to the Senior Vice President, Real Estate Lending.
• Assists in the management of case and complaint receives, assigns, and investigates complaints.
• Point of contact for internal audit reviews and contracted external monthly reviews.
• Audit planning , support, and facilitation for third-party, internal, and external audits, to include, but not limited to (NCUA, State, HUD, VA, LAPP, CFPB, Hurd Harter).
• Planning/Preparation/Implementation:  Including, but not limited to quality control initiatives, including internal audit functions and training, related to mortgage lending.  This is to adhere to all State, NCUA & CFPB requirements, Regulatory and QA/QC to eliminate risk.  In addition, to development and administration for SafeAct to include (NMLS Registration, Maintenance and Audits, etc.).
• At the Senior Vice President, Real Estate Lending discretion, acts as a point of contact with external State and NCUA auditors/examiners.
• Oversee HMDA data reconciliation and reporting,
• Ensure timely reviews and scores processing calls for quality, compliance and customer service.
• Responsible for the monitoring and management of all risks identified in the enterprise risk management (ERM) portal.
• Work with business analyst as needed for testing of loan origination system (LOS) and/or mortgage servicing system changes.
• Reviews reports to identify areas for process change, risks and collaborates with management and training to offer solutions.
• Provide the staff with the appropriate level of guidance, coaching and training as needed while meeting quality and control objectives.
• Responsible for knowing department goals as well as Credit Union goals and pro-actively works toward attainment of those goals.
• Consistently adheres to VyStar core values and Code of Ethics and acts in accordance with corporate defined values and ethics.
• Identify and make recommendations to Senior Vice President, Real Estate Lending regarding process improvements, quality service and increased efficiencies within the department.
• Analyze and recommend resources and staffing changes, evaluate, and assess direct reports, and promote initiatives to support the professional development of the team.
• Responsible for continuing education of staff.
• Partner Relations: Establish collaborative partnerships across REL and with other lines of business, including Internal Audit and Compliance.
• Oversees management and staff at multiple locations within the Credit Union’s geographic footprint, including staff working remotely.
• Responsible for staffing of the Mortgage Risk Management department.  Ensures staff assigned to the department are properly trained.  Monitors and evaluates employee performance.  Counsel’s employees to enhance job performance and resolve work related problems.  Initiates or reviews and approves written records documenting personnel actions. 
• Develops, recommends, and operates within budget for department.  Monitors expense for cost efficient operation for department. 
• Reviews and/or ensures proper completion, forwarding and/or retention of records. 
• Works directly with Real Estate Lending and partners across the Credit Union to resolve issues.
• Must be a strong team player with a high level of professionalism and initiative.
• Monitors trends and provides updates to the Senior Vice President, Real Estate Lending on any emerging compliance, CFPB and/or Regulatory trends/issues/opportunities.
• Ensures all regulatory reporting is completed on or before the required deadlines. This includes, but is not limited to Audits, annual HMDA reporting, as well as FHLMC and FNMA reports.
• Develops and administers training throughout Real Estate Lending as needed.
• Oversees third-party vendor relationships that provide support within Real Estate Lending QA/QC.
• Performs other duties as assigned.

Incumbent is expected to demonstrate each of the following VyStar excellence behaviors in performing the duties and responsibilities of their job and to provide support and feedback to their entire department to consistently practice and demonstrate VyStar Excellence behaviors in performing the duties and responsibilities of their position.

• Focus - Focus your full attention by carefully listening to and observing your client or member.
• Connect - Consistently be friendly and approachable.  Demonstrate you care.
• Understand - Listen empathetically and ask questions. (70%/30%)
• Counsel - Recommend solutions based on your client’s or member’s needs and objectives.
• Advance - Ensure that member's expectations were exceeded.  Verify necessary follow-up action.

SUPERVISION RECEIVED

• Work assignments are 50% determined by the immediate supervisor, 50% determined by the incumbent.
• Work progress is checked by the Senior Vice President, Real Estate Lending periodically through reports, discussion, and consultation.  In cases of difficulty or where exceptional problems arise, the incumbent consults the Senior Vice President, Real Estate Lending.  This would include requests for changes in hours of operations, requests for services not defined in credit union policies and security concerns.

JUDGMENT

• The incumbent is expected to take independent action to ensure that satisfactory services are provided to members.  Immediate decisions are routinely made for exceptional handling of members’ requests for services.  Judgment is used to efficiently staff the Mortgage Risk Management department and for the procurement of equipment.  Judgment is required in anticipating Mortgage Risk Management department requirements to develop the annual budget which includes staffing and salary levels as well as facility and equipment needs.  Judgments are made on loans within authority.  The Vice President of Mortgage Risk Management often determines handling of large or unusual transactions and must use discretion and judgment in advising member in financial matters.

EFFECT OF ERROR

• Errors in judgment can have a significant impact to the Credit Union.  Poor planning and use of resources could result in increased operating costs and deficiencies in member services, both actual and perceived.
• Failure to properly train and educate staff could result in not only ineffective operations, but also in violation of regulations and could possibly subject the credit union to class action or individual lawsuit. In addition, it could impact employee morale and the ability to provide members with quality service.
• Failure to handle or improper handling of staff grievances could result in claims of unfair labor practices and subject the credit union to time consuming investigations and expensive legal actions.
• Errors would be difficult to detect in most instances and are likely to cause irreparable damage.  Errors would cause damage to the professional image of VyStar as perceived by members, businesses and the community and could result in loss of deposits or income producing business if members are dissatisfied with services. 
• Errors could subject VyStar to fines for non-compliance with regulations or secondary market.  If errors were not corrected in a timely manner VyStar’s seller/servicer ID for secondary market transactions could be revoked, thus suspending all loan sales to FNMA/FHLMC and could result in substantial losses of revenues.

PUBLIC RELATIONS

• The incumbent has daily personal contact with members and with employees directly supervised.  The Vice President Mortgage Risk Management is responsible to maintain harmonious relationships between the Mortgage Risk Management and other VyStar staff, members, vendors, service bureaus, officials, government agencies, servicing banks, and other businesses or persons which may have contact with the incumbent, or the mortgage loan and/or servicing staff.

JOB QUALIFICATIONS

EDUCATION

•  High School Diploma or GED is required. Specialized classes or training in mortgage lending beyond the high school level is required.
• A bachelor’s degree is preferred.
• Continuing education via local conferences and workshops is required for updates on federal regulations and secondary market requirements. 

CERTIFICATIONS

• NMLS Required

EXPERIENCE

• 10+ years’ experience is required in the financial industry with at least five of those years specifically in a management position within the mortgage lending industry.
• Three years specifically in a Risk Management, Quality Assurance and/or Compliance management within the mortgage lending industry preferred.

JOB KNOWLEDGE, SKILLS, AND ABILITIES

• Working knowledge of compliance regulations such as RESPA, TILA, QM, ATR, HOEPA, TRID and other regulatory developments related to consumer protections laws.  
• Ability to perform job functions with a high degree of integrity and confidentiality.
• Strong commitment to always performing and producing at the highest level of quality.
• Must have working knowledge of Word and Outlook, advanced skills in Excel. 
• Excellent analytical, problem-solving and follow-up skills.
• Excellent organizational skills and good understanding of the mortgage business functions and processes. Credit Union experience preferred.
• Ability to work effectively in a high-stress, time-oriented environment and perform detailed work on multiple, concurrent tasks.
• Ability to build and maintain relationships with internal and external customers and business partners.
• Applicant must have positive, well-developed communication skills, both written and verbal, be detail oriented, have good organizational and active listening skills, the ability to work in a fast-paced environment, and proven ability to work with others and independently.   
• Excellent interpersonal, communication, analytical and organizational skills combined with the ability to condense technical subject matter into clear and effective communications to the Senior Vice President, Real Estate Lending.
• Strong attention to detail.
• Demonstrate sound judgment and decision making.

DISCLAIMERS AND WORK ENVIRONMENT

Nothing in this position description is an implied contract for employment. The position description is intended to be an accurate account of the essential functions. The functions are not all encompassing and are subject to change at any time by management.

The work environment characteristics described are representative of those that an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

As required or requested, may exert up to 20 pounds of force occasionally and/or a negligible amount of force constantly to lift, carry, push, pull or otherwise move objects.

VyStar Credit Union is not seeking outside assistance or accepting unsolicited resumes from staffing agencies or search firms for employment or contractor opportunities. Any resumes submitted by an outside vendor to any employee at VyStar via e-mail, internet, or directly to hiring managers without a valid written search agreement with the Talent Acquisition / HR department will be deemed the sole property of VyStar Credit Union.

No placement fee will be paid if a candidate is hired as a result of the referral, or through other means.

Thank you for your inquiry regarding our current job opening.  Your resume will be carefully reviewed against the position requirements. Should your experience and skills match, you will be contacted by one of our Human Resources department staff members.

Thank you again for your interest in this position!

VyStar Credit Union Human Resources