Manager, Mortgage Policy

at  Manulife

Reporting to the Director, Broker Services and Mortgage Product, The Manager, Mortgage Policy is responsible for proposing, implementing, and routinely updating residential mortgage underwriting policies, procedures, and guidelines. The successful candidate will stay abreast of industry trends and best practices to deliver policy enhancements that align with the Bank’s strategic objectives and regulatory requirements. This position requires a deep understanding of mortgage products, regulatory frameworks and the policy development and implementation process.

REQUIRED QUALIFICATIONS:

• Bachelor’s degree, preferable in Business, Finance, Economics or a related field
• Minimum of 5 years of experience in any of the following areas: Credit adjudication/underwriting or policy management, mortgage product management in the financial services industry
• Proven track record of successfully developing and implementing mortgage policies
• Expert level knowledge of mortgage products, underwriting and the regulatory environment
• Experience in secured lending and real estate policies is preferred

PREFERRED QUALIFICATIONS:

• Strong analytical skills and the ability to design and interpret information/data required to monitor the performance of credit portfolios are essential.
• Exceptional written and oral communication skills, including a developed ability to present to audiences of varying backgrounds and expertise
• Strategic thinker with good judgment and strong understanding of process
• Ability to work effectively in a fast-paced and dynamic environment
• Strong financial skills, solid deductive reasoning, sound judgement and creativity
• Strong skills in strategic influencing and working collaboratively with cross functional business partners, and with external vendors

Policy development and implementation

• Ensure the design, development and implementation of origination and servicing credit policies for Residential Mortgage Products are effective.
• Identify, evaluate, and address opportunities to enhance credit risk policies in support of new mortgage products/programs, product enhancements, portfolio performance, changes to the industry and regulatory landscape, and business operations.
• Recommend and socialize enhancements to the residential underwriting standards, based on experience, market changes, portfolio and regulatory landscape.
• Prepare and assess credit risk proposals and providing Senior Management with sound recommendations for changes to credit adjudication and account management policies, regulations and major business initiatives. This includes assessment of new program/product, new pilots or pilot extension or program renewals, etc. Following up approval conditions that may be established as part of Credit Committee’s approval to ensure that the business implements required conditions.
• Work in close collaboration with technology, sales, underwriting and operations to ensure credit policies and strategies are implemented accurately, production issues are identified and fixed in a timely fashion.

Roadmap

• Create and maintain the policy roadmap for mortgage products to ensure competitive product positioning and end-to-end advisor & customer experience for the Bank’s mortgage products.
• Conduct data analysis to validate existing policy parameters and assess impact of changes. Ensure timely tracking and monitoring of policy and strategy changes.

Performance Analysis

• Review and conduct analysis of existing policy and portfolio trends to identify, promote and lead opportunities to recommend changes to enhance performance and overall customer experience.
• Review and conduct analysis of existing policy and portfolio trends to identify, promote and lead opportunities to improve client experience, optimize risk and return through the credit cycle, improve the efficiency and effectiveness of policy and procedures including streamlining, automating, and standardization; recommend changes to enhance performance and overall customer, broker and advisor experience

Market Analysis

• Conduct comprehensive market research and competitive analysis to identify trends, customer preferences and growth opportunities within the mortgage market
• Maintain in-depth knowledge of risk related federal and provincial legislation requirements and external insurance company polices, including changes in, and emerging issues related to, the competitive landscape, the Bank’s regulatory environment and the potential impacts on Residential Mortgage lending products.
• Prepare regular reporting on product performance and market insights for senior management
• Benchmark mortgage policies against industry competitors