Risk Analyst - Mortgage

About the position The main purpose of this job is to sustain focus on overall Risk Management for the Real Estate Lending Product line. This includes performing periodic testing and reviewing real estate secured loan files as required by regulation, secondary market, and Commerce Bank Mortgage to ensure ongoing compliance and reporting.

Responsibilities

• Assist with performing monthly quality control reviews and rechecks of originated Conventional, Federal Housing Administration (FHA), Farmers Home Administration (USDA), and Veteran Affair (VA) loans, as needed, for compliance to investor guidelines, regulatory compliance requirements, and bank lending policy and procedures.
• Assist with performing monthly quality control of serviced Conventional, FHA, USDA, and VA loans as needed, for compliance to investor guidelines, regulatory compliance requirements, and bank lending policy and procedures
• Assist with documenting quality control reviews by completing checklists to determine if the applicable investor requirements were met and/or retaining similar documentation from an outside source if utilized to perform QC reviews
• Assist with recalculating monthly income and debt, income to debt ratios, loan-to-value ratios, and verify the borrower had enough funds to close with appropriate reserves on a minimum of conventional loan types
• Assist with supporting and sustaining Commerce Bank Mortgage’s first line of defense program
• Assist with reviewing critical loan data for accuracy of input and compliance/cross reference documentation with information entered into the Loan Origination System to confirm accuracy and that an adequate internal control structure is in place and sustained
• Assist with compiling results, follow up on resolution of findings, and summarize for drafting management reports. This includes recognizing error trends or patterns.
• Ensure investor turn time requirements to ascertain whether reviews are completed within the timelines required by investors
• Assist with analyzing and drafting reporting for business line leadership and second line risk functions
• Perform duties in accordance with applicable risk policies, procedures, guidelines and standards
• Assemble requested documentation for second line of defense reviews and testing (e.g. model risk management, compliance monitoring, third party risk management, business continuity, legal), audits and exams
• Perform other duties as assigned

Requirements

• Basic knowledge of risk management concepts, structures, processes and best practices
• Basic knowledge of relevant regulatory compliance, industry regulations and regulatory data sources
• Basic knowledge of federal and state laws as applicable to mortgage lending
• Basic knowledge of risk management concepts and ability to identify, assess, and evaluate risk factors in mortgage lending
• Knowledge of Loan Origination Systems, and preferably Automated Underwriting Systems
• Ability to pull data, analyze, extract insights and present findings
• Ability to maintain a high degree of confidentiality
• Motivated and organized self-starter with strong attention to detail and the ability to independently manage multiple priorities
• Inquisitive, agile and strong team player with proven written, verbal and interpersonal communication skills
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
• Basic proficiency with Microsoft Word, Excel and Outlook
• Associate’s degree in Risk Management/Regulatory Compliance-related field or equivalent combination of education and industry experience required

Nice-to-haves

• 2+ years of mortgage lending experience preferred
• 1+ year mortgage lending compliance/audit/risk experience preferred

Benefits

• employer sponsored health, dental, and vision insurance
• 401(k)
• life insurance
• paid vacation
• paid personal time
• career development
• education assistance
• voluntary supplemental benefits

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