Vice President, Credit Policy and Loan Performance

Job Summary:

The VP, Credit Policy and Loan Performance is responsible for overseeing and managing the credit risk management framework within the organization. This role ensures that residential lending activities are conducted in compliance with regulatory guidelines, industry standards, and internal risk policies. This role will play a key role in formulating and implementing credit policies, overseeing credit underwriting standards, and maintaining the overall credit quality of the organization's loan portfolio.

Responsibilities

• Own and maintain the Company's credit policies, procedures and underwriting guides based on regulatory requirements, industry best practice, credit trends, market conditions and appetite and internal risk assessments.  Periodically review and reevaluate the adequacy and effectiveness of established credit policies, procedures and underwriting guides updating and recommending changes as necessary
• Develop and implement enhancements to the underwriting guidelines and processes to maintain appropriate loan quality and mitigate credit risks while supporting business growth
• Review all product offerings from a credit risk standpoint, collaborating with peers to approve new offerings and ensuring the appropriate frameworks and underwriting guidelines are in place to support
• Monitor loan performance and identify trends, making recommendations for adjustments to credit policy, underwriting guidelines and/or risk mitigation strategies when necessary. Report on credit trends and loan performance
• Collaborate with senior leaders and departments to ensure credit decisions align with business goals and risk management strategies
• Maintain up to date knowledge and awareness of federal, state, and local regulations affecting the residential lending industry, ensuring that all credit activities are compliant. 
• Support legal, compliance, and audit peers to prepare for and address regulatory exams and audits as it relates to credit policy.
• Partner with Originations Underwriting leadership to ensure proper training and knowledge of the company's credit policy, product parameters and underwriting guidelines across the underwriting team and sales teams as required.
• Partner with Underwriting leadership to develop, implement and continue enhancement of delegated underwriting and loan exception authority. 
• Develop and manage a comprehensive loan exception policy, process, monitoring and coordinating with business partners to ensure timely, transparent and consistent decisions
• Foster a culture of credit risk awareness, collaboration, and continuous refinement across collaborators

Establish and manage exception and scenario desk team members team 

Qualifications

• Bachelor's degree in Finance, Business Administration, Economics, or a related field (Master's degree preferred).
• Minimum of 15 years of experience in credit risk management, lending, or underwriting in a residential lending or banking environment.
• Proven leadership experience in developing credit policy and underwriting guidelines
• Deep knowledge of residential lending products, including conventional, FHA, VA, and government-backed loans as well as non-agency products such as Jumbo Prime, 2nd lien products, Non-QM, DSCR, residential transition loans and Reverse mortgage loans
• Proven ability to support complex non-agency products from a credit policy background
• Familiarity with regulatory frameworks such as RESPA, TILA, HMDA, and fair lending regulations.
• Strong analytical, problem-solving, and decision-making abilities.
• Exceptional communication skills, both written and verbal, with the ability to interact with senior executives and regulatory bodies independently.
• Proven ability to influence peer to peer efficiently and work cross functionally across an organization
• Prior experience establishing a Credit Policy function or department highly regarded.
• Proficiency in risk management software and tools, as well as Microsoft Office Suite (Excel, PowerPoint, Word).
• Ability to balance strategic goals with operational realities while managing risk.
• Excellent leadership and team management abilities.

The salary range for this position is expected to be $175,000– 220,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate. This position is also eligible for Bonus and long-term incentive compensation awards based on performance and subject to the terms of the Company's applicable plans.