Credit Risk Manager

19 hours ago

Toronto, Canada HomeEquity Bank Full time

WHO WE ARE
HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.
Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
Customer-Focused. Passionate Advocates
Courage to Act. Do the Right Thing
One Team. One Vision
Think Long-Term. Ever-Evolving
Be Exceptional. Inspire Greatness
***:
The role will support the execution of HomeEquity Credit Risk Management Program with a focus on policy and process including portfolio credit risk management and default/loss management principles. expanding the entire credit lifecycle. As a second line of defense role, it will lead an independent challenge program with respect to the end-to-end adherence to Bank policies and procedures. Will ensure regulatory compliance with regards to OSFI and other applicable regulations and guidance.
**MAJOR ELEMENTS OF THE ROLE**:
Support in the execution and continuous improvement of the Bank’s Credit Risk Management program.
- Contribute to the development, review, and update to the Bank’s mortgage underwriting policy (RMUP) and guidelines (RMUG)
- Assist in the design and implementation of policies, procedures and standards related to portfolio risk management and default / loss management.
- Conduct independent challenge over the Bank’s credit underwriting to ensure mortgage approvals and quality controls are aligned with the Bank’s risk appetite and OSFI B-20 principles. This extends to independent 2nd line work with respect to challenge of default and loss management.
- Perform critical review/challenge on credit escalations/ underwriting policy exceptions to make well reasoned recommendations for management consideration and approval. Ability to review credit files to recommend alternative ways to enable approval of files that should otherwise be declined.
- Assist in the preparation of regular credit metrics reporting, highlighting portfolio composition and performance for key internal and external audiences as may be required.
- Contribute to the development of proactive portfolio management strategies to support the Bank’s overall risk appetite.
- Provide active and direct support to resolve outstanding audit and regulatory issues and respond to ad hoc Senior Management and regulatory requests.
- Maintain open and positive dialogue with business units and leaders to provide solutions to credit files.
- Keep up-to-date with risk management best practices, risk policy, and macroeconomic factors that impact the Canadian real estate market.
- Contribute to Risk Management Department projects and initiatives, as needed.

**SKILLS AND EXPERIENCE REQUIRED**:
**Qualifications**:

- Post secondary education with 7+ years of experience in retail Credit Risk Management encompassing the credit life-cycle, together with a solid knowledge of retail products, particularly mortgages.
- Strong experience in credit risk policy design and independent challenge roles including executing risk-based monitoring and testing programs.
- Strong background in designing and implementing credit risk reporting for Management and Board.
- Deep, applied knowledge of OSFI B-20, B-15 and other relevant regulatory framework/ Guidance.
- Possess broad mortgage underwriting expertise and must be able to conduct enhanced due diligence reviews on credit escalations/policy exceptions.
- Hands on experience with Data Visualization and Analytics tools (Looker, Tableau, Power BI, etc.)
- Broader knowledge of the mortgage industry in Canada and industry best practices in Credit Risk.
- Excellent communication skills with ability to positively engage with business partners and external stakeholders

Attributes
- Well-developed analytical, problem solving, research, and control testing/ audit skills.
- Well-rounded experience of the retail credit life-cycle
- Effective organizational and time management skills with the ability to manage multiple and changing priorities with mínimal supervision.
- Excellent verbal and written communication skills, including experience in preparing and presenting reports and presentations to various levels of management.
- Must be pro-active, self-motivated and a self-starter.
- A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
- Strong attention to detail and accuracy.

**Working Conditions Unique to Job**:

- Hybrid office environment

WHY WORK AT HOMEEQUITY BANK?
Great Environment
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility - an approach that is unique to each person, and

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