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Assistant Vice President- Closing QC

Req #: 170118240
Location: Mumbai, MH, IN
Job Category: Asset Management
Job Description:

JOB TITLE

·         Associate – AVP

PURPOSE

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 REQUIREMENTS

·         Minimum qualifications

    • Graduates and Post Graduates in Commerce/Business Management

·         Minimum experience

    • 2 years prior experience in a related position
    • 7 years experience in a related industry

·         Key competencies must indicate competencies essential to do the job.

    • Candidate should possess strong knowledge of US Mortgage processes and Mortgage Underwriting operations.
    • Have an affinity or ability for systems thinking.
    • Leadership - Leads by example and is an effective role model (e.g. takes the lead and actions reflect an appropriate level of independence; demonstrates the ability to initiate and effect change and continuous improvement, contributes significantly to the on-going development of people.
    • Thinking Strategically - Be able to drive positive changes, promote ownership and demonstrate "My business Mentality".
    • Manages Relationships through inclusivity and is able to actively manage stake holders and demonstrate collaborative team work.
    • Communication - Is organized, clear and confident in written and oral communications.  Actively engages in discussions offering expertise, opinions, advice and is able to communicate incisively at all levels.
    • People management: Manages his teams through active engagement and develops key talent. Must be able to flex his/ her style to get the best out of the people
    • Teamwork - Creates and/or contributes to an environment of collaboration and mutual responsibility (e.g. effectively influences others to gain cooperation and address issues; develops the high performing teams by setting forth SMART goals for the team
    • Should be creative and innovative; challenges status quo; generates strategic advice/product/client solutions

                                                                                                                                   

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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