Executive Summary
The Credit Risk Analyst (CRA) reports to the Manager and is responsible for executing all aspects of the Quality Control (QC) program for residential mortgages. The role ensures loans are underwritten according to the Company’s Credit Risk appetite, reviews defaulted loans to identify questionable decisions and proposes recommendations.
Responsibilities
Executing post-funding QC reviews on residential loans following established procedures.
Conducting specialized reviews on Early Payment Defaults and investigating questionable lending decisions.
Delivering monthly written QC results and reporting to Business Units and Senior Management.
Utilizing a risk-based approach to select portfolio-level loan data for review.
Monitoring and tracking all policy exceptions and ensuring required file remediations are completed.
Proactively detecting emerging risk indicators and proposing improvements to procedure manuals and QC protocols.
Developing a comprehensive understanding of Questbank’s lending policies and regulatory requirements.
Recommending revisions to QC protocols and credit procedures to align with industry best practices.
Updating and maintaining the Credit Risk Quality Control Procedure Manual.
Ensuring all files adhere strictly to AML/ATF and Know Your Client (KYC) regulations.
Proactively identifying potential violations of internal policies or operational risk controls.
Ensuring adherence to the bank’s policies and procedures regarding compliance and operational risk controls.
Providing ongoing guidance to business units to ensure adherence to written procedures and policies.
Assisting in developing training tools and resources for residential underwriting teams.
Qualifications
Professional fluency in both English and French (written and verbal).
5+ years in Alt‑A mortgage underwriting.
Minimum 3+ years of direct Quality Control experience.
Demonstrated expertise in residential mortgage underwriting practices, including adherence to Guideline B‑20 of OSFI.
Strong working knowledge of KYC, AML, and ATF regulations.
Proficiency in report preparation using Google Suite and Microsoft Office.
Advanced analytical, logical thinking, and data analysis skills.
Exceptional interpersonal and communication skills to manage 1st/2nd line dynamics.
High attention to detail and ability to meet tight deadlines under pressure.
Ability to seize business opportunities and transform challenges into solutions.
Taking full ownership of deliverables with honesty and integrity.
Strong team‑player mentality and building healthy working relationships.
Compensation and Benefits
Base Salary:
Base salary range: $80,000 - $90,000 per year.
Final compensation package is commensurate with experience, skills and geographic location, and includes a comprehensive benefits plan and a competitive bonus program.
Perks:
Health & wellbeing resources and programs.
Paid vacation, personal, and sick days for work‑life balance.
Competitive compensation and benefits packages.
Work‑life balance in a hybrid environment with at least 3 days in office.
Growth opportunities and development opportunities.
Opportunities to contribute to community causes.
Work with diverse team members in an inclusive and collaborative environment.