Vp, Head of Residential Real Estate Secured Lending

3 weeks ago

Montréal, Canada Laurentian Bank Full time

Seeing beyond numbers
**TM**
At Laurentian Bank, we believe we can change banking for the better. Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have over 3,000 employees working together as One Team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs.

RRESL has enterprise accountability and ownership of all residential mortgage lending for both Laurentian Bank and B2B Bank. Customer products include mortgages and home equity lines of credit (HELOC and HOK). The RRESL portfolio comprises approximately 38% of the bank's assets under administration (AUM).

LI-Hybrid

LI-CMM

**Responsibilities**:
Reporting to the Head, Deposits, Lending & Advice Strategy for Personal Banking, the VP, Head of Residential Real Estate Secured Lending (RRESL) is responsible for P&L oversight, profitability, forecasting and performance of mortgage assets. This includes, but is not limited to, product development and performance, acquisition and retention campaigns, promotions to drive profitable growth of mortgage & HELOC portfolios. This role has direct and indirect reports and is a key stakeholder among internal and external business partners. Key aspects of the role include ensuring credit adjudication and governance, managing key internal relationships enterprise-wide and being a champion for a risk and credit culture at the bank.

The VP, RRESL is responsible for the following:
º Developing and executing the business strategy of RRESL

º Achieving business financial objectives and optimizing pricing, profitability, and growth across the portfolio

º Responsible managing and leading a team (AVPs, Senior Managers, Managers), including attracting, developing, and engaging talent

º Building collaboration across functional and operational groups to create the highest value for all stakeholders

º Supporting mortgage rate pricing committee and supporting / leading mortgage transformation

º Working with internal and external risk and regulatory stakeholders to ensure the bank's lending and regulatory requirements are in compliance with the bank's established guidelines

º Strong understanding of the Secured Lending regulatory environment including potential regulatory changes that will impact the business

º Stakeholder of all 3rd suppliers (mortgage insurers, title insurers, appraisal companies)

º Key collaborator and contributor to internal and external stakeholder discussions including Finance, Risk, Treasury, Operations, Marketing, Digital, Retail Distribution & Operations and B2B Distribution and Retention

º Preparing and delivering concise, compelling verbal presentations to senior decision-makers, and responding quickly and thoughtfully to challenges in meeting situations

º Recommending and/or championing strategies for SVP / EVP approval

º Evaluating internal, external, and adjacent opportunities, to help advance RRESL's capabilities and competitive positioning

º Ensuring a continuous improvement culture

º Networking with industry to gather competitive insights and best practices; an established industry network is an asset

º Leading and/or supporting change management, readiness assessments, audits (external/internal), governance and risk & controls

º Preparing and assisting with communications as it relates to change management, process changes, products, campaigns

**Qualifications**:
º Have a minimum of 15 years of lending experience with expertise in a combination of retail mortgage lending, and portfolio management experience

º 10+ years mortgage omni-channels preferred

º Strong knowledge of compliance and regulations as it relates to mortgage lending in Canada (federal and provincial)

º Experience leading many cross-functional and organization-wide initiatives related to RRESL products, all of which required significant collaboration across geographies

º Deep understanding of real estate/commercial/asset-based underwriting and valuation techniques [NPV (Net present value), IRR (Internal Rate of Return), determination and capitalization of NOI (Net operating Income)], financial statement analysis, secured lending and factors affecting the mortgage market

º Mortgage systems knowledge and end-to-end workflow with all 3rd parties

º Proven operational capability

º Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment

º Ability to manage highly complex environments with multiple stakeholders

º Self-motivated and results-oriented individual with strong leadership, decision-making, analytical and problem-solving skills

º Creative, strategic thinker who is comfortable with change, ambiguity and challenges the status quo

º A highly effective communicat

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