Senior Director, Credit Risk Management

3 weeks ago

Toronto ON, Canada RFA group Full time
Senior Director, Credit Risk Management - RFA Bank of Canada

Thursday, March 14, 2024

RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.

The Opportunity
The Senior Director, Credit Risk Management(CRM) - Residential Secured Lending (RESL) is responsible for second line oversight of the Bank’s residential mortgage lending activities, quantitative portfolio analysis and related reporting. The candidate will develop, maintain, and/or review credit risk related policies and guidelines that are aligned with the Bank’s risk appetite and regulatory requirements and expectations. In addition, the candidate is responsible for monitoring compliance with credit risk policies and guidelines and risk appetite levels at origination and throughout the lifecycle of the loan, reporting on portfolios and risk limits, monitoring the environment for emerging risks and assessing the impact on the portfolio of loans, and ensuring that appropriate risk management practices to address the increased risk are implemented.

Core Responsibilities

  • Maintain detailed knowledge and understanding of the Bank’s RESL business activities, the regulatory requirements and expectations, and developments in the economy and markets and its impact on the Bank’s RESL business.
  • Develop and maintain policies and limits that are aligned with the Bank’s risk appetite, regulatory requirements and consider the risks in the environment. Review and challenge the first line’s RESL guidelines and procedures and ensure alignment with the established policies, appetite, industry best practices, regulatory requirement, and evolving business environment.
  • Oversee the RESL quality assurance program ensuring that underwriting is aligned with the Bank’s risk appetite and is in compliance with internal and external requirements.
  • Perform continuous monitoring and measurement against risk limits, and provide accurate risk reporting to the Senior Management, Board Committee, and regulators on all current and emerging risks in the portfolio, including compliance with limits, performance of the portfolio, and changes in the business environment.
  • Oversee third party servicer activities pertaining to arrears and default management and monitor the portfolio for signs of increase in credit risk.
  • Oversee the Bank’s ECL process including the assessment of specific allowances.
  • Monitor market conditions, to identify and assess emerging issues or opportunities impacting the CCL loan portfolio and conducting analysis including sensitivity and or stress testing to assess the impact on the risk of the portfolio and proactively implement mitigating actions.
  • Establish and maintain a program to perform ongoing stress testing and sensitivity analysis.
  • Assess the adequacy of the internal control environment and provide recommendations to improve controls and processes as appropriate.
  • Contribute to the ICAAP and contingency funding plan testing as needed.
  • Contribute to ERM’s projects and initiatives, as needed.
  • Provide subject matter expertise and advice to all levels of management on RESL risk issues and related policy matters. Support Business Units in regulatory, governance and transformation initiatives.
  • Maintain contact with peers in the industry to share best practices.
  • Supporting the CRO in other tasks as required.

Regulatory & Compliance

  • Complete all regulatory and compliance and risk management training.
  • Comply with requirements as set by the Compliance function and external regulatory bodies.
  • Act in accordance with the company’s Board-approved risk appetite and tolerance for risk.
  • Compliant to the Bank’s authority approval limits for financial transactions, manage the credit risk management contracts, including compliance to the Bank’s B-10 policy and process.

What you can bring to RFA:

  • 7 years of experience in a risk management function (working within a similar sized regulated Bank or Mortgage Financing Lender, with established knowledge of mortgage lending and deposit taking institutions.
  • In depth knowledge of regulatory requirements pertaining to RESL including OSFI.
  • Practical and technical knowledge and understanding of ERM practices including risk appetite framework, stress testing for ICAAP etc.
  • University degree in a related field.
  • Professional degree or certification is an asset.

Benefits of Working at RFA:

  • Vision Care
  • RRSP Match
  • Vacation & Personal Days
  • Hybrid working environment

Are you the Right Candidate?

  • Detailed analytical skills and problem solving
  • Ability to work within cross functional teams comprised of diverse backgrounds and skill sets.
  • Strong interpersonal and communication skills, both written and verbal
  • Proficient with Microsoft Office (Word, Excel, PowerPoint)
  • Strong organizational and project management skills with the ability to prioritize, balance conflicting tasks, and manage internal and external stakeholders.
  • All-round abilities, and a demonstrated willingness and enthusiasm to be a team-player, and to embrace the challenge of working in a lean and fast-paced environment in a growing organization.
  • Strong negotiation, presentation and facilitation skills.
  • An ability to confidently and competently act as a change agent.

Accessibility
Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.

#J-18808-Ljbffr

  • Senior Director, Corporate Credit Risk

    3 weeks ago

    Toronto, ON, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. As the Senior Director, Commercial Credit, you will form an integral part of the Corporate...

  • Senior Director, Corporate Credit Risk

    3 weeks ago

    Toronto, ON, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our...

  • Senior Director, Corporate Credit Risk

    3 weeks ago

    Old Toronto, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. We need...

  • Senior Director, Corporate Credit Risk

    3 weeks ago

    Old Toronto, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. We need...

  • Senior Director, Corporate Credit Risk

    4 weeks ago

    Old Toronto, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. We need...

  • Senior Director, Corporate Credit Risk

    2 days ago

    Old Toronto, Canada Canadian Imperial Bank of Commerce Full time

    Senior Director, Corporate Credit Risk page is loaded Senior Director, Corporate Credit Risk Apply locations Toronto, ON time type Full time posted on Posted 3 Days Ago job requisition id 2406318 We’re building a relationship-oriented bank for the modern world. We need...

  • Senior Manager, Credit Risk Policy, Risk Management

    3 weeks ago

    Toronto, ON, Canada Lannick Full time

    Plan, design, Create, review and revise credit policies in accordance with the strategic goals and objectives, risk tolerance, and regulatory requirements Develop detailed credit guidelines that outline the systematic processes for credit underwriting, credit evaluation, credit adjudication & approval, account monitoring Outline the hierarchy of...

  • Senior Director, Credit Risk Management

    6 days ago

    Toronto, ON, Canada RFA group Full time

    Senior Director, Credit Risk Management - RFA Bank of Canada Thursday, May 2, 2024 RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance...

  • Business Banking Credit Risk Manager

    3 weeks ago

    Toronto, ON, Canada Canadian Imperial Bank of Commerce Full time

    Business Banking Credit Risk Manager page is loaded Business Banking Credit Risk Manager Apply locations Toronto, ON Calgary, AB time type Full time posted on Posted Yesterday job requisition id 2409569 We’re building a relationship-oriented bank for the modern world. The Business Banking Credit Adjudication team of CIBC is accountable for reviewing,...

  • Director, Commercial Credit Risk

    4 weeks ago

    Toronto, ON, Canada CIBC Full time

    We’re building a relationship-oriented bank for the modern world. The Real Estate Credit Risk Management team of professionals offer expertise in the adjudication and oversight of real estate credit risk transactions originated by the Real Estate Financing Division across all regions of Canada. As a Director, Real Estate Credit Risk, you will be...

  • Manager, Enterprise Risk

    4 days ago

    Toronto, ON, Canada Robertson & Company Ltd. Full time

    Our Client: Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor. What You Will Achieve in This Role: Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program...

  • Director, Credit

    3 weeks ago

    Toronto, Ontario, Canada RBC - Royal Bank Full time

    Job SummaryThe Director, Credit & Stress Testing Implementation Assurance reports to the Senior Director, Stress Testing & Credit Controls and Integrity. You will apply your business knowledge and provide constructive challenge within credit risk management to work closely and support numerous stakeholders and Senior Directors across both the Stress Testing...

  • Senior Manager, Commercial Credit Risk Management

    6 days ago

    Toronto, ON, Canada Banque Nationale du Canada Full time

    A career as a Senior Credit Manager in the credit risk team at National Bank means being a specialist and coach for credit approvals within the commercial sector. You will be called upon to play an important role as an expert in the development of the Ontario and Western Canadian market. Analyze, authorize and/or recommend decisions on complex credits. Act...

  • Manager, Enterprise Risk

    4 days ago

    Toronto, Canada Robertson & Company Ltd. Full time

    Our Client: Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor. What You Will Achieve in This Role: Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program...

  • Manager, Enterprise Risk

    4 days ago

    Toronto, Canada Robertson & Company Ltd. Full time

    Our Client: Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor. What You Will Achieve in This Role: Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program...

  • Manager, Enterprise Risk

    3 days ago

    Toronto, Canada Robertson & Company Ltd. Full time

    Our Client: Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor. What You Will Achieve in This Role: Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program...

  • Manager, Commercial Credit

    3 weeks ago

    Toronto, Canada Alterna Savings Full time

    Scope of Position Under the direction of the Director, Enterprise Risk, the Manager, Commercial Credit and Enterprise Risk manages the credit risk program for the commercial arm of Alterna Savings and its subsidiary, Alterna Bank. The Manager, Commercial Credit and Enterprise Risk also develops, recommends changes and maintains Board and management...

  • Manager, Credit Risk

    4 weeks ago

    Toronto, Canada Canada Infrastructure Bank Full time

    Headquartered in Toronto, the Canada Infrastructure Bank (the CIB) is responsible for investing in new infrastructure projects. The CIB’s mission is to work with provincial, territorial, municipal, federal, Indigenous and private sector investor partners to transform the way infrastructure is planned, financed and delivered in Canada. An exciting and...

  • Manager, Enterprise Risk

    4 days ago

    Toronto, Canada Robertson & Company Ltd. Full time

    Our Client:Our client is one of the top five largest Canadian Credit Unions committed to delivering good, caring, and transparent financial services as a supportive partner and advisor.What You Will Achieve in This Role: Reporting to the Director of Enterprise Risk, the Manager of Commercial Credit and Enterprise Risk oversees the credit risk program for our...

  • Director, Commercial Credit Risk

    4 weeks ago

    Toronto, ON, Canada CIBC Full time

    We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients. At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they...