Director, Credit Risk Management

2 weeks ago

Old Toronto, Canada RFA Full time
Director, Credit Risk Management - RFA Bank of Canada

Thursday, May 16, 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 Director, CRM-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

  • Maintains 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 provides 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.
  • Monitors market conditions, to identify and assess emerging issues or opportunities impacting the RESL 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.
  • Assesses 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.
  • Contributes to ERM’s projects and initiatives, as needed.
  • Provides 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.
  • Maintains 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

  • Director, Credit Risk Management

    1 month ago

    Toronto, Canada Home Trust Company Full time

    Company Profile Home Trust Company has developed a track record of success as Canada’s leading alternative lender, employing nearly 850 people in our Toronto headquarters and branches across the country. Building on the demonstrated strength of our core residential and commercial mortgage lending business, the Company and its affiliates also offer...

  • Manager, Enterprise Risk

    3 days ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    3 days ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    3 days ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    17 hours ago

    Old Toronto, Canada Robertson & Company Ltd. Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    3 weeks ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    3 weeks ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Manager, Enterprise Risk

    3 weeks ago

    Old Toronto, Canada EightSix Network Inc Full time

    Part Time / Full Time 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...

  • Director of Credit Risk and Underwriting

    7 days ago

    Toronto, Ontario, Canada OTT Financial Full time

    OTT Pay Group Inc. "(OTT Pay)" is a fully funded established FINTECH focused on delivering simplified financial payment products. With a strategic emphasis on both Acquiring and Issuing businesses, we are developing a mobile-first platform that offers straightforward banking services, loyalty solutions, and innovative products including credit cards,...

  • Director, Fundamental Credit Risk

    1 month ago

    Toronto, Canada Healthcare of Ontario Pension Plan (HOOPP) Full time

    Why you’ll love working here: - high-performance, people-focused culture- our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves- learning and development initiatives, including workshops, Speaker Series events and access...

  • Manager, Commercial Credit

    2 weeks ago

    Old Toronto, Canada Alterna Sa Full time

    Manager, Commercial Credit & Enterprise Risk Job Category: Audit/Compliance/Risk Requisition Number: MANAG003011 Apply now Posted : January 31, 2024 Full-Time Locations Showing 1 location Under the direction of the Director, Enterprise Risk, the Manager, Commercial Credit and Enterprise Risk manages the credit risk program for the commercial...

  • Manager, Commercial Credit

    2 weeks ago

    Old Toronto, Canada Alterna Sa Full time

    Manager, Commercial Credit & Enterprise Risk Job Category: Audit/Compliance/Risk Requisition Number: MANAG003011 Apply now Posted : January 31, 2024 Full-Time Locations Showing 1 location Under the direction of the Director, Enterprise Risk, the Manager, Commercial Credit and Enterprise Risk manages the credit risk program for the commercial...

  • Manager, Commercial Credit

    2 weeks ago

    Old Toronto, Canada Alterna Sa Full time

    Manager, Commercial Credit & Enterprise Risk Job Category: Audit/Compliance/Risk Requisition Number: MANAG003011 Apply now Posted : January 31, 2024 Full-Time Locations Showing 1 location Under the direction of the Director, Enterprise Risk, the Manager, Commercial Credit and Enterprise Risk manages the credit risk program for the commercial...

  • Director, Credit Risk

    6 days ago

    Old Toronto, Canada Clearbanc Full time

    Clearco is the leader of AI, data-driven ecommerce funding and has advanced over $2.5 billion in dilutive capital to over 10,000 businesses. Our revolutionary Invoice Funding product allows entrepreneurs to fund their expenses–including marketing and inventory–without giving up cash flow so they can plan for the future.What your day-to-day will look...

  • Director, Credit Risk

    6 days ago

    Old Toronto, Canada Clearbanc Full time

    Clearco is the leader of AI, data-driven ecommerce funding and has advanced over $2.5 billion in dilutive capital to over 10,000 businesses. Our revolutionary Invoice Funding product allows entrepreneurs to fund their expenses–including marketing and inventory–without giving up cash flow so they can plan for the future.What your day-to-day will look...

  • Director, Credit Risk

    6 days ago

    Old Toronto, Canada Clearbanc Full time

    Clearco is the leader of AI, data-driven ecommerce funding and has advanced over $2.5 billion in dilutive capital to over 10,000 businesses. Our revolutionary Invoice Funding product allows entrepreneurs to fund their expenses–including marketing and inventory–without giving up cash flow so they can plan for the future.What your day-to-day will look...

  • Manager, Credit Risk

    6 days ago

    Old Toronto, Canada President’s Choice Bank Full time

    Referred applicants should not apply directly to this role. All referred applicants must first be submitted through Workday by a current Loblaw Colleague. Location:500 Lakeshore Blvd. West, Toronto, Ontario, M5V 2V9 When you hire great people, great things can happen. PC Financial offers unprecedented value to Canadians through payment products. We're...

  • Manager, Credit Risk

    6 days ago

    Old Toronto, Canada President’s Choice Bank Full time

    Referred applicants should not apply directly to this role. All referred applicants must first be submitted through Workday by a current Loblaw Colleague. Location:500 Lakeshore Blvd. West, Toronto, Ontario, M5V 2V9 When you hire great people, great things can happen. PC Financial offers unprecedented value to Canadians through payment products. We're...

  • Manager, Credit Risk

    6 days ago

    Old Toronto, Canada President’s Choice Bank Full time

    Referred applicants should not apply directly to this role. All referred applicants must first be submitted through Workday by a current Loblaw Colleague. Location:500 Lakeshore Blvd. West, Toronto, Ontario, M5V 2V9 When you hire great people, great things can happen. PC Financial offers unprecedented value to Canadians through payment products. We're...

  • Director, Corporate Credit Risk

    4 days ago

    Toronto, 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 are...