Counterparty Risk Manager – Vice President

Company:

Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-QM mortgage market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased $9.5 billion in expanded, non-QM loans since its inception (through the end of 2019). In addition, through its affiliates, VMC has completed twelve rated securitizations. (Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.)

Role:

Verus Mortgage Capital seeks an Counterparty Risk Manager -Vice President to join on team.  This is an exciting opportunity to join an industry leader in a growing market.  We offer a fast-paced and fun environment where your input and experience are valued.

The role of the Counterparty Risk Manager is to build, implement and efficiently manage all aspects of the counterparty review process for new and existing clients. This position will schedule and conduct interviews, collect and assess Client Information, and evaluate and make recommendations based on counterparty review of mortgage lenders, banks, credit unions and other (sellers) being considered for approval to sell loans to Verus Mortgage Capital (VMC).

Accountabilities:

  • Gather and analyze counterparty financials, loan production, third party audit results, warehouse capacity, and policies and procedures utilizing both internal and external resources to determine risk to the company and client’s ability to deliver a variety of products.
  • Conduct Counterparty interviews with potential sellers as needed to gather information needed for decision making.
  • Produce reports detailing findings and recommendation of Counterparty review and present to Counterparty Risk Committee for final decision.
  • Ensure internal and external customer satisfaction by addressing and resolving all inquiries and concerns in a timely and professional manner.
  • Monitor risk associated with current counterparties through periodic reviews.
  • Implement and maintain appropriate systems and reporting within VMC to ensure all counterparty data is accurate for reporting and monitoring
  • Coordinate with Acquisition Teams, Servicing and others to develop and report on seller performance and implement a counterparty review committee for both approvals, recertification and performance monitoring.
  • Develop, modify and implement counterparty review and monitoring policies and procedures.
  • Manage turn-time requirements for reviews and approvals, reporting results regularly to management.
  • Manage review staff in accordance with KPIs designed by risk, sales, operations and credit management.
  • Willingness to work with Operational team on other duties as assigned by management.

Required Skills/Abilities:

  • In depth knowledge of mortgage production process and mortgage compliance landscape.
  • Working knowledge of Microsoft Office with emphasis on Excel and Word.
  • Working knowledge of external reporting tools (i.e. Comergence, Optimal Blue products, Power BI, etc.)
  • 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.

Qualifications:

  • Minimum of 7 years of mortgage counterparty risk management. Additional experience with audit or quality control would be a plus.
  • Experience reviewing mortgage credit files
  • Experience in the review of corporate financials

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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