1st VP, Portflo Credit Enhance

1st Vice President, Portfolio Credit Enhancement
The department is responsible for managing Countrywide Bank’s portfolio credit risk.
This position is responsible for contributing to the Portfolio Credit Risk function through overall credit enhancement management. This involves managing the mortgage insurance provider relationships, negotiating new or ongoing contracts, and conducting detailed analysis to better understand the credit enhancement needs of the Bank.
Primary responsibilities include:

Perform analysis to include risk assessments of Bank products to determine the necessity and level of enhancement, choosing optimal structures for credit enhancement, and running cost models to determine the optimal allocation of loans for mortgage insurance.

Assure that adequate resources and training are provided sufficient to insure full compliance with all regulatory requirements and that such commitment to compliance is fully communicated to the staff, internal and external clients and other parties within the manager’s area of responsibility.

Conduct performance and cost analysis to determine optimal enhancement structures by product.

Conduct risk assessment on Bank products to determine need for credit enhancement.

Manage MI provider relationships and negotiate contracts.

Manage the monthly process for purchasing insurance.

Manage the monthly credit enhancement reporting process.

Forecast mortgage insurance purchases.

Manage Whole Loan Acquisition MI bids and purchases.

Oversee the Reportable Loans to Capital monthly reporting process.
A successful candidate will have:

Bachelor’s degree with a major in Finance, Economics, Business Management, Math, or in a related subject.

Minimum 7+ years working in a portfolio management capacity within a financial institution.

Strong mathematics background.

Significant prior experience with mortgage insurance either with a provider or frequent purchaser of credit enhancement.

PC proficiency in SAS, Excel, Access, Lotus Notes.

Specific advanced knowledge of HELOCs or mortgage credit.

Effective interpersonal oral and written communication skills.

Strong negotiation skills.

Knowledge of the laws regulating the mortgage banking industry desirable.

Please see Job Description