Chief Mortgage Risk Officer

2 days ago


Toronto, Ontario, Canada BJRC Recruiting Full time

About the Role

We are seeking an experienced Chief Mortgage Risk Officer to join our team at BJRC Recruiting. This is a unique opportunity for a seasoned professional to oversee residential mortgage lending activities, including quantitative portfolio analysis.

Key Responsibilities

  • Approve policy exceptions and mortgage purchases within delegated lending authority.
  • Develop and maintain credit risk-related policies, ensuring alignment with regulatory requirements and industry best practices.
  • Identify emerging risks and implement risk management practices to support the growth of the residential mortgage portfolio.

ECL, Arrears, and Default Management

The successful candidate will participate in Expected Credit Loss (ECL) assessments and manage oversight of arrears and default processes. They will monitor the portfolio for increased credit risk, ensuring robust management of arrears and defaults.

Stress Testing

This role involves conducting sensitivity analysis and stress testing to gauge portfolio risk and implementing proactive mitigation strategies. The Chief Mortgage Risk Officer will also support capital and contingency planning efforts through in-depth risk analysis.

Quality Assurance

The successful candidate will oversee quality assurance for residential mortgage underwriting, ensuring compliance with risk appetite and policy requirements.

Monitoring and Reporting

The Chief Mortgage Risk Officer will perform ongoing monitoring of RESL risk limits and support accurate risk reporting on the portfolio, including emerging risks. They will stay informed on market conditions to assess potential impacts on the mortgage portfolio.

Regulatory and Compliance

The successful candidate must complete all compliance training and adhere to regulatory requirements, as well as internal risk and governance policies.

Requirements

  • A minimum of 5 years of experience in RESL risk management within a regulated institution, with deep knowledge of mortgage lending.
  • A strong understanding of regulatory requirements for RESL, including OSFI guidelines.

Compensation

The estimated salary for this role is between $150,000 and $250,000 per year, depending on experience. This figure is based on national averages for similar roles in the financial services industry.



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