Analyst, Quality Assurance & Risk - RFA Mortgage Corporation

Analyst, Quality Assurance & Risk - RFA Mortgage Corporation

Tuesday, October 22, 2024

Analyst, Quality Assurance and Risk – Toronto, ON

Date: October 22, 2024

Location: Toronto, ON

Company: RFA Mortgage Corporation

Job Type: Permanent

About RFA

Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm. Through RFA Bank of Canada and RFA Mortgage Corporation, RFA offers mortgage brokers a complete range of Prime and Alternative mortgage solutions.

The Opportunity

We’re looking to fill an Analyst, QA & Risk position at RFA Mortgage Corporation!

RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable and Uninsurable). Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation.

Core Responsibilities

As an Analyst, QA & Risk, you will be primarily responsible for the review and assessment of completed mortgage applications at the Post Funding and Prefunding stages. Reviews will consist of a thorough evaluation of documentation, compliance to company policy & guidelines, the assessment of the quality of asset, and the due diligence performed by the underwriting and funding staff. Findings/observations are reported regularly to assist in staff coaching, fraud mitigation, and policy clarification with the overall goal to improve consistency and quality of the RFA Mortgage Corporation portfolio.

• Review an adequate sampling of credit applications to determine if policies/guidelines and general underwriting procedures are/were followed; this includes assessing all file data elements, required financial documents, client information, broker file transmissions, insurer transmissions and noting any exceptions/deviations to policy.
• Ensure post-fund reviews are conducted regularly as required in a timely, efficient, and objective manner, focusing on identifying and assessing risks (Credit, Funding, Compliance, AML) within established SLA’s.
• Ensure prefunding reviews are conducted on all designated files prior to funding with a focus on identifying and assessing risks (Credit, Compliance, AML) within established SLA’s.
• Provide guidance and recommendations to management and related stakeholders on credit issues, findings, and trends.
• Assist in new mortgage originator post-fund reviews and provide analysis as per mandate.
• On occasion, assist in preparing, reviewing, and analyzing external audit files.
• Review, when required, serious delinquent accounts and provide a summary of findings.
• Maintain the integrity of the information input into Kairos QA and make recommendations for improvements.
• Perform other responsibilities and assist with special projects, as required.

Operational Efficiency and Risk Management

• Escalate files with higher risk (Credit, Compliance, Operational) as directed in RFAMC procedures and policies.
• Refer any files to management where perceived misrepresentation appears to be evident.
• Ensure the number of files reviewed meets corporate minimum sampling requirements.
• Recommend changes for workflow improvements, guideline clarifications, and fraud initiatives.
• Participate in preparing/assisting in executive presentations related to Quality Assurance initiatives as required.

What You’ll Need to Succeed

• Minimum 5 years in Residential Mortgage / Lending Adjudication experience with strong knowledge in credit, risk, and fraud detection.
• Post-Secondary education in a related discipline (business, audit).

What Sets You Apart

• Comprehensive knowledge of mortgage operations, credit/insurer policies, including credit principles, practices, processes, products, services.
• Proficient in risk management practices and fraud prevention strategies.
• Well-developed communication skills, verbal and written, sufficient to provide clear and detailed explanation and interpretation of information, analysis, and recommendations.
• Self-driven, motivated with the ability to operate independently and in a team environment.
• Excellent organization and time management skills.
• Proficient in the use of applications such as Atlas, FCT, Kairos, Excel, Word, PowerPoint, and Access.
• Able to work under pressure within multiple and/or sometimes conflicting deadlines.

What We Offer at RFA

Along with a strong work culture, RFA offers a comprehensive benefits package, including:

• Vision Care
• RRSP Match
• Health & Wellness Spend
• Vacation & Personal Days
• Hybrid working environment

Ready to take the next step?

If this opportunity excites you and aligns with your skills and aspirations, we’d love to hear about how you can contribute to our team at RFA.

Accessibility

Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.