Analyst, Quality Assurance

Analyst, Quality Assurance, Real Estate Secured Lending, Enterprise Risk Management
**Date**: January 30, 2025
**Location**: Toronto, ON
**Company**: RFA Bank of Canada

**Job Type**: Permanent
**Closing Date**: February 14, 2025
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 an Analyst, Quality Assurance position at RFA Bank of Canada? This is a great opportunity to build your skills, gain industry experience, and grow in your career”
In this role, the Analyst will independently review and assess RFA Bank of Canada originated and acquired residential mortgage loans, for quality of underwriting, compliance to regulatory requirements, policies and or guidelines, and comprehensiveness of due diligence. Document findings that identify themes and opportunities for staff coaching, and improving quality and consistency y of the RFA Bank of Canada mortgage portfolio.
Core Responsibilities
**As an Analyst, Quality Assurance, you will**:Quality Assurance**:

- Contribute to the success of RFA Bank of Canada’s quality assurance program through detailed file review and assessment of the underwriting decision consistent with the requirements of the Residential Mortgage Underwriting Policy (RMUP), Residential Mortgage Underwriting Guidelines (RMUG) and regulatory requirements such as B-20.
- Carry out objective file reviews, testing for policy adherence, including discharge of due diligence requirements relevant to the loan, accuracy of information and completeness of documentation, as well as identifying whether expectations and or variances are appropriately identified.
- Carry out secondary reviews as required to support peers and overall audit quality, with a specific focus on eliminating erroneous findings.
- Support and analyze results monthly to identify training opportunities for the quality control and underwriting staff, trends, and risks.
- Participate in presenting monthly summary of findings to the Credit & Underwriting teams.
- Review and assess remediation suggested for accuracy and completeness.
- File an Unusual Transaction Report/escalate to Anti-Money Laundering for elements in any file where perceived misrepresentation appears, or unusual activity cannot be reasonably explained.
- Continuously monitor the portfolio for trends and/or anything deemed to pose undue risk to the company.
- Compile data on monthly QA findings and statistics.
- Be a contributing member of the team, working co-operatively with others to ensure the relevance and quality of work produced and ongoing value add to RFA Bank of Canada.
- Use the systems, tools and techniques provided to carry out all activities, identifying when areas to improve exist and making meaningful recommendations.
- Ensure all activities are completed accurately and on time.

Innovation and Change Management
- Contributes to Enterprise Risk Management’s projects and initiatives, as needed.

What You’ll Need to Succeed
- Post secondary degree or certification in a business-related discipline.
- 1 - 3 years relevant industry experience.
- Experience in working in a regulated environment is preferred.

What Sets You Apart
- Knowledge of mortgage operations, credit policies, including credit principles, practices, processes, products, and services is preferred but not mandatory.
- Willingness to learn and open to new challenges.
- Strong communication skills: Verbal and written, sufficient to provide clear and detailed explanation and interpretation of information, analysis, and recommendations.
- Well-developed analytical skills, sufficient to complete requisite analysis and provide ongoing advice and guidance.
- Ability to adapt and develop new strategies for continued efficiencies, and conceptualization of new approaches in Credit Risk
- Ability to organize, manage workflow deadlines in an environment with high volumes and tight turnaround times.
- Prior knowledge or experience with PowerBl is an asset.

Our Values and What We Offer at RFA
At RFA, we live by our core values. These values guide our daily actions and shape our work culture:

- Accountability: You take ownership of your work & its consequences. You always consider risk & make informed decisions.
- Selflessness: You share info & teach others. You’re able to put your ego aside & understand that the best idea wins.
- Inclusivity: You value differing viewpo