VP, Bank Portfolio Underwriter at Cenlar in Yardley, Pennsylvania

Job Description:

The VP, Bank Portfolio Underwriter is responsible for leading and driving the credit and risk assessment strategy for the bank's residential lending portfolio. This portfolio includes the Correspondent Lending and Bulk Acquisition programs requiring a thorough understanding of credit policies, risk management, and regulatory compliance. This role involves evaluating creditworthiness ensuring compliance with regulatory standards and supporting the bank's strategic objectives through effective credit risk management. This role is pivotal in ensuring the Bank's asset portfolio is effectively underwritten and managed to support its strategic goals and objectives, driving long term growth, profitability, and shareholder value. This role reports directly to the Chief Growth Officer.



Responsibilities:

• Leads engagement with third-party credit due diligence firms to assess, manage, and mitigate credit risks in residential loan acquisitions


• Oversees underwriting processes, ensuring alignment with the bank's risk appetite, business objectives, and adherence to credit policies, regulatory guidelines, and compliance standards


• Collaborates with cross-functional teams, including credit risk, compliance, and lending operations, to optimize portfolio performance and support growth initiatives in the residential lending market


• Analyzes borrower financial statements, credit reports, industry trends, and other relevant data to evaluate credit risk and identify potential risks and mitigating factors


• Monitors and analyze portfolio performance, identifying trends and recommending actionable risk mitigation strategies


• Reviews and validates work from third-party due diligence vendors to ensure conformity with purchase product standards


• Prepares and presents detailed credit risk performance reports and analysis to senior management and stakeholders


• Partners with bank leadership to develop and implement new purchase products and evaluate loans that exceed established risk limits


• Stays informed of industry trends, regulatory changes, and best practices in underwriting and credit risk management


• Fosters a culture of innovation, collaboration, accountability, and compliance within the organization, including leading performance management and professional development for team members


• Appropriately assesses risk when business decisions are made, including but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.


• Ensure all activities are in accordance with Cenlar's approved risk appetite statement and applicable compliance and regulatory requirements.

• Bachelor's Degree in Finance, Business Administration, or related field


• 12+ years' experience in credit risk management, underwriting, capital markets or a related finance services field


• Must possess underwriting experience and knowledge of bank non-agency, agency, and government lending guidelines


• Must have a thorough understanding of HELOC and second lien underwriting practices


• Demonstrates the art of underwriting by thoughtfully applying compensating factors such as strong assets or stable employment history when evaluating credit risks to make balanced and well-informed lending decisions


• Understanding of market dynamics and regulatory framework


• Ability to think strategically and execute tactically


• Excellent problem-solving and decision-making abilities


• Exceptional communication and interpersonal skills


• Ability to use strong reasoning and problem-solving skills to develop mutually acceptable solutions


• Ability to work in a fast-paced, dynamic environment with a hands-on approach to work


• Present complex topics and credible challenge to stakeholders in a persuasive manner


• Unassailable ethics, personal values, and integrity


• Results and learning oriented; continuously striving to improve and evolve self, team, and others


• Proven ability to lead and motivate teams supporting complex businesses in a matrixed environment