· Associate – AVP
JPMorgan Mortgage Center operations involve origination of Non-Conforming Jumbo Mortgages with loan amount starting from $417,000. Mortgage Loans are extended to JPMorgan’s Private Banking current & prospects clients. Mortgage Operations include functions listed below;
· Document Indexing,
· Rate Lock Extensions
· HMDA Reporting
· Post Closing
· Loan Cancellation
· Pre-Approval Loan review
· Preliminary review - Ordering Vendor Work
· Underwriting (Internal Review)
· Quality Control. – Processing, Decision Letter, Closing, Funding
· Closing & Funding
KEY PERFORMANCE AREAS AND % TIME
The AVP will be part of a team responsible for the following:
1) Achieve daily team production targets on a consistent basis and turnaround Priority reviews within the stipulated timelines.
2) Maintain over 95% Post Fund High QA Accuracy and 100% external accuracy at team level on a consistent basis.
3) Maintain high hygiene standards in the team and ensure team follows all process controls with no lapses.
4) Responsible for MIS reporting, Data analysis & preparing Business Reviews on a periodic basis.
5) Identify & escalate issues on assigned reviews and escalate exceptions, procedure gaps to onshore partners in a timely manner.
6) Interact with different stakeholders to resolve process issues and play key role in adding process controls and efficiencies.
7) Impart process level trainings.
8) Conduct regular reviews of the activities performed by the team, set forth better governance structure, generate reports and MIS that help track the performance of the team.
9) Generate process improvement ideas & run projects to implement the same, suggest automations for better controls, perform periodic risk and controls analysis with the team for process risk valuation & ensure process is audit ready.
· Minimum qualifications
· Minimum experience
· Key competencies must indicate competencies essential to do the job.
It’s preferred Candidates have the following experience:
o General understanding of Mortgage Origination concepts, US Mortgage Industry
o General understanding of derivatives, FX and participations/syndications
o General understanding of credit legal issues and be able to quickly determine sensitivity to business risk
o Prior exposure to traditional credit products and traditional credit product loan documentation a plus
o Experience using the Credit Risk Infrastructure tools and applications (ARC, EN, SRGT, CRRT, OWL, SELM, etc) a plus
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