Director, Real Estate Secured Lending, Enterprise

3 months ago

Toronto, Canada RFA Canada Full time

**Director, Real Estate Secured Lending, Enterprise Risk Management**

**Date**: September 4, 2024

**Location**: Toronto, ON

**Company**:RFA Bank of Canada

**Job Type**: Permanent

**Closing Date**: September 20, 2024

**About RFA**

Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm that offers mortgage brokers a complete range of Prime and Alternative mortgage solutions through 2 divisions, RFA Mortgage Corporation and RFA Bank of Canada.

RFA Bank of Canada, is a federally regulated Schedule I Bank. Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Bank of Canada, we focus on delivering a unique value proposition in the Alternative mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs.

**The Opportunity**

Are you interested in leveraging your innovative, strategic, and forward-thinking expertise to help build a leading-edge Real Estate Secured Lending risk management structure?

The Director, RESL, will play a crucial role in shaping the future of RFA’s RESL Credit Risk Management by crafting and refining RESL credit risk policies to align with the Bank’s risk appetite and regulatory standards while also approving RESL Exceptions and mortgage purchases, ensuring standards are met. The Director, RESL will lead the charge in monitoring compliance, managing problem files, and staying ahead of emerging risks. As a key player in risk management, you’ll drive innovative solutions to tackle challenges and enhance our risk management practices.

**Core Responsibilities**

As a **Director, Real Estate Secured Lending, Enterprise Risk Management**, **you will:
**RESL Approvals**
- Approve RESL Policy Exception requests, per Delegated Lending Authority.
- Approve balance sheet Mortgage purchases/Investments to ensure that loans comply with the requirements for this book of business including Insured mortgages, per Delegated Lending Authority.
- Oversees the credit side of the Bank’s liquidity line of credit in terms of eligibility of mortgages to be pledged as collateral.

**Policies and Guidelines**
- Maintain the Residential Mortgage Underwriting Policy and ensure that limits are aligned with the Bank’s risk appetite, regulatory requirements and consider the risks in the environment.
- Review and challenge the first line’s Residential Mortgage Underwriting Guidelines and procedures and ensure alignment with the established policies, appetite, industry best practices, regulatory requirement, and evolving business environment.
- Assesses the adequacy of the internal control environment and provide recommendations to improve controls and processes as appropriate.

**Expected Credit Loss, Arrears and Default Management**
- Participate in the Bank’s RESL Expected Credit Loss process including the assessment of specific allowances.
- Oversee arrears and default management.
- Monitor the portfolio for signs of increased credit risk.

**Stress Testing**
- Participate in creating and maintaining a program to conduct ongoing sensitivity analysis and stress testing to assess the impact on the risk of the portfolio and proactively implement mitigating actions.
- Contribute to the ICAAP and contingency funding plan testing as needed

**Quality Assurance**
- Actively 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.

**Monitoring and Reporting**
- Perform continuous monitoring of RESL risk limits and contribute to accurate risk reporting on all current and emerging risks in the portfolio, including compliance with limits, performance of the portfolio, and changes in the business environment with the Deputy CRO.
- Monitor market conditions, to identify and assess emerging issues or opportunities impacting the RESL loan portfolio.

**People Management**
- Motivate and coach team members to assist them in exceeding their objectives.
- Develop staffing plans anticipating short-, medium
- and long-term needs.
- Lead and participate in annual performance reviews, addressing areas of strength and improvement.

**Innovation and Change Management**
- Assess and adapt operational processes; develop new capabilities to ensure on-going relevance and success.
- Contributes to Enterprise Risk Management’s projects and initiatives, as needed.
- Maintains contact with peers in the industry to share best practices.***

**Technical Advisor**
- Develops expert understanding of RESL credit risk Enterprise Risk Management challenges.
- Identifies emerging issues and trends to keep current on market developments in RESL credit risk management.

**Other**
- Support the Deputy CRO in other tasks as required.
- Uses independent judgment serving as a mentor and ensuring their department and team implement company policies, pro

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