The Counterparty Risk Associate is responsible for the financial and business analysis of mortgage bankers, bankers, credit unions, brokers, and other business purpose lenders who meet VMCs business model.

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Accountabilities

• Perform counterparty reviews of mortgage lenders/sellers/brokers being considered for approval to sell loans to Verus
• Gather and analyze application questionnaires that may include, but not be limited to financials, organizational documents, loan production, audit results, warehouse capacity, insurance, policies and procedures and any applicant or sales follow-up as applicable
• Produce reports detailing findings, risks and recommendation of counterparty reviews for Counterparty Committee
• Initiate and track Counterparty reviews and Mortgage Loan Purchase Agreements for bulk transactions and provide follow-up and up-dates to bulk, legal and secondary marketing groups
• Provide expertise and training on corporate financials for Counterparty team and Committee as needed
• Ensure internal and external customer satisfaction by addressing and resolving all inquiries, follow-up items and concerns in a timely and professional manner
• Conduct periodic review of current counterparties as required and make recommendation to committee for renewal or other action
• Conduct periodic review of current counterparties (recertification) as required and make recommendation to committee for renewal or other action
• Assist in the development and continued improvement of counterparty review process tools and monitoring policies and procedures
• Assist in developing and reporting of current volume, turn-time, risk assessment and overall inventory of counterparties
• Perform other duties as assigned by management

Required Skills / Abilities

• Working knowledge of Microsoft Office with emphasis on Excel and Word
• Strong communication and interpersonal skills
• Ability to review and provide analysis of corporate financials
• Ability to analyze multiple documents and review for overall business risk
• Ability to effectively search various databases to validate various information (i.e. NMLS data, Secretary of State(s) verification, call reporting databases, MARI, Lexis Nexis, Westlaw, etc.)
• Ability to independently complete multiple time-sensitive tasks with minimal supervision
• Ability to work both independently and collaboratively within a small team environment

Education and Experience

• In depth knowledge of mortgage origination and secondary market purchase process and general mortgage compliance landscape
• Minimum of 3 years of mortgage counterparty risk processing experience. Additional experience with audit or quality control would be a plus
• Experience reviewing corporate and personal financials
• Experience working in Comergence or similar counterparty systems desirable
• Experience reviewing origination and compliance policies and procedures for accuracy and effectiveness
• Knowledge of Counterparty Agreements (i.e. correspondent purchase & sale agreements, broker agreements, power of attorney forms, corporate resolutions, etc.) a plus