Risk Analyst - Mortgage at Commerce Bank

Kansas City, Missouri, United States -

Full Time

Start Date

Immediate

Expiry Date

04 Jun, 26

Salary

35.8

Posted On

06 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Risk Management, Quality Control Reviews, Regulatory Compliance, Investor Guidelines, Loan File Review, Income Recalculation, Debt Recalculation, Loan Origination Systems, Automated Underwriting Systems, Data Analysis, Report Drafting, Confidentiality, Attention To Detail, Written Communication, Verbal Communication, Interpersonal Communication

Industry

Investment Management

Description

About Working at Commerce Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us. Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you. Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk. Compensation Range Hourly: $23.80 - $35.80 (Amount based on relevant experience, skills, and competencies.) About This Job The main purpose of this job is to sustain focus on overall Risk Management for the Real Estate Lending Product line. This includes performing periodic testing and reviewing real estate secured loan files as required by regulation, secondary market, and Commerce Bank Mortgage to ensure ongoing compliance and reporting. Essential Functions Assist with performing monthly quality control reviews and rechecks of originated Conventional, Federal Housing Administration (FHA), Farmers Home Administration (USDA), and Veteran Affair (VA) loans, as needed, for compliance to investor guidelines, regulatory compliance requirements, and bank lending policy and procedures. Assist with performing monthly quality control of serviced Conventional, FHA, USDA, and VA loans as needed, for compliance to investor guidelines, regulatory compliance requirements, and bank lending policy and procedures Assist with documenting quality control reviews by completing checklists to determine if the applicable investor requirements were met and/or retaining similar documentation from an outside source if utilized to perform QC reviews Assist with recalculating monthly income and debt, income to debt ratios, loan-to-value ratios, and verify the borrower had enough funds to close with appropriate reserves on a minimum of conventional loan types Assist with supporting and sustaining Commerce Bank Mortgage’s first line of defense program Assist with reviewing critical loan data for accuracy of input and compliance/cross reference documentation with information entered into the Loan Origination System to confirm accuracy and that an adequate internal control structure is in place and sustained Assist with compiling results, follow up on resolution of findings, and summarize for drafting management reports. This includes recognizing error trends or patterns. Ensure investor turn time requirements to ascertain whether reviews are completed within the timelines required by investors Assist with analyzing and drafting reporting for business line leadership and second line risk functions Perform duties in accordance with applicable risk policies, procedures, guidelines and standards Assemble requested documentation for second line of defense reviews and testing (e.g. model risk management, compliance monitoring, third party risk management, business continuity, legal), audits and exams Perform other duties as assigned Knowledge, Skills & Abilities Required Basic knowledge of risk management concepts, structures, processes and best practices Basic knowledge of relevant regulatory compliance, industry regulations and regulatory data sources Basic knowledge of federal and state laws as applicable to mortgage lending Basic knowledge of risk management concepts and ability to identify, assess, and evaluate risk factors in mortgage lending Knowledge of Loan Origination Systems, and preferably Automated Underwriting Systems Ability to pull data, analyze, extract insights and present findings Ability to maintain a high degree of confidentiality Motivated and organized self-starter with strong attention to detail and the ability to independently manage multiple priorities Inquisitive, agile and strong team player with proven written, verbal and interpersonal communication skills Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values Basic proficiency with Microsoft Word, Excel and Outlook Education & Experience Associate’s degree in Risk Management/Regulatory Compliance-related field or equivalent combination of education and industry experience required 2+ years of mortgage lending experience preferred 1+ year mortgage lending compliance/audit/risk experience preferred *Remote Schedule: Work primarily from home **Level of role is determined by knowledge, experience, skills, abilities, and education ***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles. This compensation range is for the Risk Analyst I, II & Senior - Mortgage job and contemplates a wide range of factors that are considered in determining most appropriate job level and making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $23.80 to $35.80 per hour. #LI-Remote The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits. Click here to learn more. Location: 922 Walnut St, Kansas City, Missouri 64106 Time Type: Full time

Responsibilities

The primary function involves sustaining focus on overall Risk Management for the Real Estate Lending Product line, including performing periodic testing and reviewing real estate secured loan files for compliance and reporting. This includes assisting with monthly quality control reviews for originated and serviced Conventional, FHA, USDA, and VA loans.