VP of Risk (Mortgage Lending, Non-QM) at Cake Mortgage Corp.

Los Angeles, California, United States -

Full Time

Start Date

Immediate

Expiry Date

09 Jul, 26

Salary

0.0

Posted On

10 Apr, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Credit risk strategy, Underwriting standards, Risk management, Mortgage lending, Non-QM products, Regulatory compliance, Portfolio performance, Agency lending, DSCR, Loan origination systems, Encompass, Capital markets, Financial analysis, Leadership, Decision-making, Quality control

Industry

Financial Services

Description

Description CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We're redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we're looking for forward-thinking professionals who thrive in fast-paced, collaborative environments. The Vice President of Risk is responsible for leading the organization’s credit risk strategy, underwriting standards, and risk management framework within the mortgage lending business. This role ensures sound credit decisioning, regulatory compliance, and portfolio performance while supporting business growth across agency, non-QM, and portfolio lending products. Key Responsibilities Develop, implement, and continuously refine credit policies, underwriting guidelines, and risk appetite. Align credit risk strategy with company growth objectives across various mortgage products (e.g., Non-QM, DSCR, Agency). Establish and oversee enterprise-wide credit risk management practices. Monitor loan performance, delinquency trends, and default risk; recommend corrective actions as needed. Ensure appropriate risk controls and mitigation strategies are in place. Provide leadership and oversight to underwriting teams, ensuring consistency, quality, and efficiency in credit decisions. Handle complex or high-risk loan scenarios and provide final credit authority when needed. Ensure compliance with all applicable federal, state, and investor guidelines (e.g., Fannie Mae, Freddie Mac, Non-QM investors). Stay current on regulatory changes and implement necessary policy updates. Analyze portfolio performance, credit trends, and risk exposure. Present insights and reporting to executive leadership and stakeholders. Partner with Capital Markets, Secondary, Operations, and Sales to balance risk and production goals. Support product development by evaluating risk implications of new offerings. Oversee internal and external audit processes related to credit risk. Ensure quality control reviews are effective and drive continuous improvement. Build, mentor, and lead a high-performing credit and risk team. Foster a culture of accountability, compliance, and sound credit judgment. Requirements 10+ years of experience in mortgage lending, with a strong focus on credit risk and underwriting. 5+ years in a leadership role within risk management. Deep knowledge of residential mortgage underwriting, including Agency and Non-QM products. Strong understanding of investor guidelines, regulatory requirements, and risk frameworks. Proven ability to manage risk while supporting business growth. Experience with loan origination systems (e.g., Encompass) and risk/analytics tools. Exceptional analytical, decision-making, and leadership skills. Experience in Non-QM and DSCR lending. Background in portfolio risk management or capital markets collaboration. Advanced degree in Finance, Business, or related field. Why Join CAKE Mortgage? Be part of a fast-growing company changing the game in Non-QM. Competitive compensation and performance-based bonuses. Collaborative and entrepreneurial culture. Opportunities for career advancement and innovation. Cake Mortgage does not tolerate discrimination of any type. Cake Mortgage offers equal employment opportunity to all qualified persons without regard to race, age, color, religion, sex/gender, gender identity, sexual orientation, marital status, medical condition, military or veteran status, national origin, ancestry, disability, or any other considerations made unlawful by Federal, State, or Local law. Cake Mortgage provides eligible and qualified employees with opportunities to advance. Cake Mortgage is an at will employer. Cake Mortgage is committed to providing employees with a work environment free of discrimination and harassment.

Responsibilities

The VP of Risk is responsible for leading the organization’s credit risk strategy, underwriting standards, and risk management framework. This role ensures sound credit decisioning, regulatory compliance, and portfolio performance while supporting business growth across various mortgage products.