Counterparty Risk Associate

Company

Verus Mortgage Capital is an independent national mortgage investor. Verus offers its Clients responsible non-prime ATR compliant lending products that fill the credit void in today’s market. Verus consistently evaluates today’s market and credible borrower financing needs to offer our partners innovative solutions. Verus Mortgage Capital is an affiliate of Invictus Capital Partners please visit the website at www.invictuscp.com.

Role

Verus Mortgage Capital is seeking a Counterparty Risk Associate in our Bloomington, MN location. The role of the Counterparty Risk Associate reports to the VP of Counterparty Risk and is responsible for the efficient, accurate and timely collection and review of all aspects of the counterparty review process for new and existing clients. This includes the financial and business analysis of mortgage bankers, bankers, credit unions, other business purpose lenders who meet VMCs business model. The role will provide recommendations to Counterpart Risk Committee and participate as a non-voting member.

Accountabilities

  • Schedule and perform counterparty reviews of mortgage lenders/sellers being considered for approval to sell loans to Verus.
  • Produce reports detailing findings of counterparty reviews of entities being considered for approval by Verus.
  • Gather and analyze financials, loan production, third party audit results, warehouse capacity, and policies and procedures.
  • Ensure internal and external customer satisfaction by addressing and resolving all inquiries and concerns in a timely and professional manner.
  • Conduct periodic review of current counterparties as required by policy and make recommendation to committee for renewal or other action.
  • Assist in the develop of counterparty review and monitoring policies and procedures
  • Assist in developing and reporting of current volumes, turn-times, risk assessment and overall inventory of counterparties.
  • Perform other duties as assigned by management

Required Skills/ Abilities

  • Working knowledge of Microsoft Office with emphasis on Excel and Word
  • Strong communication and interpersonal skills
  • Ability to independently complete multiple time-sensitive tasks with minimal supervision.
  • Ability to work both independently and collaboratively within a small team environment

Education and Experience

  • In depth knowledge of mortgage production process and mortgage compliance landscape
  • Minimum of 3 years of mortgage counterparty risk management. Additional experience with audit or quality control would be a plus.
  • Experience working in Comergence or other counterparty system desirable
  • Experience reviewing corporate financials
  • Experience reviewing compliance policies and procedures

 

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person’s race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age or sexual orientation, or because of a person’s disability or medical condition.

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