You are here
Loan Operations Manager - Regional Bank
High growth regional bank
Based in the North Shore
About Our Client
My client has strong capital adequacy ratios, a enviable branch footprint, strong leadership and an impressive track record. In line with their business strategy moving forwards, they are in search of a high caliber Loan Operations Manager to join their team.
Reporting directly into the Vice President, the Loan Operations Manager will be responsible loan fulfillment team including underwriting, processing and closing departments. Main duties and responsibilities will include the following:
- Manage day to day operations of the Residential & Consumer Lending processing, underwriting and closing departments.
- Responsible for hiring, training and developing underwriting staff to include completing staff performance evaluations and development plans as necessary.
- Manage the quality control process for both pre-funding and post-closing QC to ensure that timely responses are provided and underwriting standards are met. Review findings with management and update QC procedure and processes as necessary.
- Responsible for reviewing all aspects of mortgage and consumer loan applications. Ensures all required processes have been followed to meet compliance and secondary market guidelines.
- Maintain a constant working knowledge of all Bank and Secondary Market Underwriting and Product guidelines as appropriate to investors that we sell loans to and update Loan Analysts, Underwriters, Loan Officers and Retail personal as applicable.
- Makes an appropriate lending decision to approve, decline, counter offer or suspend applications as necessary, adhering to bank or secondary marketing guidelines.
- Submit loans through applicable automated underwriting systems such as; DU, LP, MI and Mass Housing, etc.
- Complete loan write-ups, for presentation to the Loan Committee and Board of Directors, on jumbo loan amounts and other purposes as required by the internal policy.
- Update Encompass to accurately reflect final figures used to qualify the loan.
- Issue and sign loan commitment letters.
- Present decline files to the Second review.
- Work with loan processing and origination staff on discrepancies and problems, ensuring that proper policies and procedures are followed.
- Maintain working relationship with investors, appraisers, MI and attorneys, answering questions and resolving problems as necessary.
- Manage residential and consumer loan pipelines. Work closely with the mortgage loan originators to ensure that loans are underwritten in a timely manner and that all conditions are met prior to closing.
- Review, monitor and measure performance in key areas of fulfillment using weekly and monthly reports.
- Responsible for achieving satisfactory reviews from internal Audit/ Loan documentation reviews as well as being in compliance with established bank policies and all applicable regulatory requirements.
- Assist in the development of new underwriting policies, procedures and products.
- Assist Underwriters with questions and complex situations in which they require guidance.
- Ensure loans are in compliance with State and Federal regulations.
- Recommend changes as appropriate to the Board and Internal Operation Policy changes for Residential and Consumer Lending.
- Oversee the management and maintenance of Disaster Recovery procedures for the underwriting department in accordance with bank standards.
- Serve as liaison for retail banking centers and Loan Officers regarding all aspects of residential and consumer lending to include training as needed.
- Perform FDIC IA testing as required.
- Contribute to the effective team management of all bank problems, issues and opportunities.
- Perform additional duties as required.
Apply today for consideration within 48 hours.
The Successful Applicant
In return for a competitive remuneration package, you will possess the following:
- College education preferred.
- Minimum five years' experience in underwriting for the secondary market and private mortgage insurance and thorough understanding of underwriting standards.
- Direct management experience required.
- Be able to demonstrate a track record of success and achievement
- Be able to demonstrate longevity and career progression in previous career moves
- Solid understanding of Federal and State lending regulations.
- Working knowledge of Excel and Word and experience with a front end loan tracking system.
- Have attended mortgage lending/underwriting courses and/ or seminars.
What's on Offer
- $ 95,000 - $ 115,000 base salary
- Performance related bonus scheme
- North Shore location
- Competitive beneftis package (health, dental, vision etc).
- Collaborative and supporting team environment.