Mortgage Quality Assurance Analyst (Pre-Funding)

Position summary

Reporting to the Vice President, Risk Management, Credit and Risk Management, this position is responsible for performing quality assurance credit reviews prior to funding for all lending products with primary focus on residential mortgages. Working under the direction of the QA Consultant, you will conduct credit & data quality reviews using the established process and procedures. The Pre-Funding Quality Assurance Analyst serves as part of the 2^nd line of defense to ensure loan quality and guidelines for all lending products are being met.  

Key responsibilities

Specifically you will be responsible to conduct QA quality reviews of mortgage loans prior to funding with the following specific responsibilities:

• Operates within and promotes compliance with company policies and procedures and all statutes and legislation governing the workplace including the Bank’s Code of Conduct
• Review the loan data input to the application origination system (LMS) for accuracy
• Review the loan underwriter's credit decision and supporting documentation to identify any discrepancies to the Underwriting Guidelines
• Review commentary in support of income to ensure it complies with the “sufficient income verification” requirements in the Underwriting Guidelines
• Review the Rental Worksheet to ensure accuracy of input
• Recalculate Loan to Value (LTV) and debt service ratios to ensure accuracy
• Validate the source of down payment funds, income, assets and liabilities comply with the Underwriting Guidelines
• Prepare individual loan QA worksheets to capture findings
• Under the direction of the QA Consultant, prepare monthly summary reports of findings
• Remain current with changes to WealthOne Underwriting Guidelines
• Support a positive work environment that promotes quality, innovation and teamwork
• Support a culture of risk management and control, supported by effective processes in alignment with policies, frameworks, and the bank’s risk appetite