Mortgage Quality Control - Vice President
Mumbai, India | J.P. Morgan
Functions:Accounting / Control
Financial Services Professional
Job Description:65 people have viewed this job
The purpose of the job is to support the JPMorgan Private Banking Mortgage business. The position will be responsible for the managing the administration and the maintenance of Private Banking Mortgage and exposures in line with Mortgage Credit policy. The functions performed by this team are critical to protecting the bank from potential Mortgage losses.Individuals may work directly with Mortgage Advisory, Bankers, Vendors, internal/external partners throughout the Mortgage Origination cycle supported functions to perform the following key functions:
Income & Credit Analysis
Balance & Financial Statement Analysis
Credit Approvals from appropriate authority level
Develop credit information with Mortgage Advisory
Exception Tracking & Escalation Coordination
Data Report Generation & Analysis
KEY PERFORMANCE AREAS
Ensures supervision and oversight on credit reviews & decisions involving Income, Credit, KYC, Collateral, Balance Sheet & Financial Statement analysis.
Ensure all process level SLAs with regards to Productivity, Accuracy, Turn Times, Staffing, etc. are met & improved on consistent basis.
Partners with multiple stakeholders (Mortgage Advisory, Processing team, Credit Risk Management, Vendor Management, Technology, Change Management, and Training etc.) across mortgage operations to ensure turnaround of underwriting reviews within timelines and adherence to all regulations impacting Underwriting.
Ensure compliance to Private Banking credit policy and Fair lending Regulations (ECOA, HMDA, TRID guidelines, etc.)
Collaborate across functions to drive continuous process improvement agenda through technical enhancements, removal of wastages & non value adds in the process.
Ensures all credit risk recommendations and mitigations are implemented.
Perform periodic risk and controls analysis with the team for process risk valuation and closure of action items within timelines.
Supervision & performance management of underwriting team including hiring & continuous talent management.
Responsible for maintaining critical Underwriting reporting, e.g. UW Pipeline report, Regulation B reports etc. to ensure efficient workflow management.
KEY COMPETENCIES ESSENTIAL FOR THE JOB
Leadership - Leads by example and is an effective role model (e.g. takes the lead and actions reflect an appropriate level of independence; demonstrates the ability to initiate and effect change and continuous improvement, contributes significantly to the on-going development of people.
Thinking Strategically - Be able to drive positive changes, promote ownership and demonstrate "My business Mentality".
Manages Relationships through inclusivity and is able to actively manage stake holders and demonstrate collaborative team work.
Communication - Is organized, clear and confident in written and oral communications.Actively engages in discussions offering expertise, opinions, advice and is able to communicate incisively at all levels
People management: Manages his teams through active engagement and develops key talent. Must be able to flex his/ her style to get the best out of the people
Teamwork - Creates and/or contributes to an environment of collaboration and mutual responsibility (e.g. effectively influences others to gain cooperation and address issues; initiates and is responsive to requests from other products, regions, etc.)
Should be creative and innovative; challenges status quo; generates strategic advice/product/client solutions
Have a track record of formulating innovative ideas and gaining buy-in from senior management in addition to a track record of execution/delivery/process improvement/leadership in a challenging environment
Bachelor’s degree in Commerce or Science
• Post Graduate degree in Finance or Accounting
• MBA (Finance), CPA/CFA degree is preferred
• 12+ years of Mortgage underwriting experience; in US mortgage loan originations
• Experience on manual underwriting on jumbo loans is preferred
• 8+ years of people management experience & client service delivery
• Thorough understanding of all stages of mortgage originations life cycle
• Expertise in Mortgage Underwriting concepts
• Proficiency in analysis of Financial Documents. Eg. Balance Sheet, Personal Financial Statements, Income Documents etc.
• Working knowledge of major US Mortgage Regulations
• Strong MS Excel Skills
• Experience in MIS generation, distribution and data analysis & knowledge quality tools
• Must have had exposure to production management, work allocation, prioritization, exception handling, and process documentation