Credit Adjudicator, Mortgage Broker Services

FirstOntario Credit Union; Woodstock; Hybrid; CAD 69,000 - 96,000; Full time

Benefits offered by this job

Health and wellness benefits

Mental health benefits

Development allowance

Pension plan

Flex-work environment

Volunteer program

Employee assistance program

Job summary

FirstOntario Credit Union in Woodstock, ON is seeking a Credit Adjudicator to review ALT A and mortgage broker submissions, prepare credit documents, and support the broker network, members and prospective members.

This hybrid role requires ALT A lending experience, a post-secondary degree, knowledge of CMHC/Sagen and Canada Guaranty, and strong analytical skills. Salary range $69,931 to $96,155 with a comprehensive rewards package.

Qualifications

• Post-secondary degree or diploma in Business, Economics, Sociology or Business Analytics or equivalent work experience.
• Minimum of three years ALT A lending experience in financial sector.
• Mortgage Agent course through Remic or Mortgage Professional within six months; passing grade required.
• Knowledge of credit policies, credit investigation and analysis.
• Knowledge of CMHC Sagen and Canada Guaranty insurance requirements.
• Strong analytical and problem-solving skills with attention to detail.

Responsibilities

• Review, recommend and adjudicate mortgage broker credit submissions within approved limits.
• Review ALT A mortgage applications and renewals; recommend decisions and adjudicate new credit and renewals.
• Coordinate and monitor quality of credit submissions from various sources for timely submission of retail credit reports.
• Suggest service improvements and new concepts or software to improve efficiency in mortgage broker lending.
• Handle broker inquiries professionally and maintain a member-first attitude.
• Attend management meetings and provide status updates and reporting changes.
• Act as SME for adjudication platforms (Valeyo Criterion, Filogix/Velocity).
• Implement efficiencies and improved systems and processes when appropriate.
• Assist employees with problem-solving and complex work-related matters.

Skills

ALT A lending

Credit analysis

Communication

Problem solving

Decision making

Industry awareness

Education

Post-secondary degree or diploma in Business / Economics / Sociology / Business Analytics

Tools

Valeyo Criterion

Filogix/Velocity

Job description

• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Up to $1000 per year towards professional development
• Pension Plan
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Why FirstOntario?

• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Up to $1000 per year towards professional development
• Pension Plan
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Job Overview

The Credit Adjudicator is responsible for the adjudication of mortgage submission from mortgage brokers, preparation of credit documents and providing support and service to the team, broker network, members and prospective members.

Role

• Review, recommend and, when within approved limit, adjudicate on mortgage broker credit submissions
• Review Alternative-A (ALT A) mortgage applications and renewals, recommend decisions and when within approved limit, adjudicate new credit and renewals (including term and pricing)
• Co-ordinate and monitor the quality of credit submissions from various sources, ensuring timely and accurate submission of all retail credit reports
• Keep informed of and be willing to implement service improvements, new concepts, software technology etc. that will improve the operating efficiency of mortgage broker lending
• Handle broker inquiries or concerns in a professional and courteous manner, with a member first attitude
• Attend management meetings as required, provide status updates while clearly communicating all reporting changes, enhancements and modifications to ensure issues and solutions are understood
• Act as a subject matter expert for adjudication platforms including but not limited to: Valeyo Criterion and Filogix/Velocity on any related project initiative
• Consider, recommend and when appropriate, implement efficiencies and improved systems and processes
• As required, assist employees in solving problems and helping with complex work-related matters
• Stay on top of industry trends and make recommendations on tools, services, protocols and standards in support and development efforts
• Perform other duties as required

Required Skills

• Hold a post-secondary degree or diploma in the field of Business, Economics, Sociology or Business Analytics or equivalent work experience
• Have a minimum of three years ALT A lending experience within the financial sector
• Willing to complete Mortgage Agent course through Remic or Mortgage Professional within the first six months of employment. Must obtain a passing grade.
• Have working knowledge of credit related Policies and Procedures, Credit investigation and Analysis
• Must have knowledge of Canada Mortgage and Housing Corporation (CMHC) Sagen and Canada Guaranty insurance requirements
• Have strong analytical and problem solving skills with an attention to detail in working with business systems and data inputs
• Strong ability to structure a retail credit deal, applying flexibility and creativity when appropriate
• Apply strong decision making skills with a degree of discretion (as provided)
• Possess a working knowledge of adjudication platforms, such as Valeyo Criterion, Filogix and Velocity, and be familiar with both PC applications and banking systems
• Demonstrate clear communication, interpersonal and presentation skills
• Technically sound with high level knowledge of system and software quality assurance best practices and methodologies
• Business minded professional who aligns business objectives and capabilities with the technical aspect of our business to achieve results
• Organized, multi-tasker that thrives in a fast pace, time-sensitive, high volume environment
• Quick to respond to requests for service from all of your clients
• Demonstrate a high level of integrity and trustworthiness
• Be aware of and mitigate enterprise risk factors and ensure compliance with applicable regulations, legislation and FirstOntario policies and procedures

This is a hybrid role in Woodstock, ON.

This posting is for an existing vacancy.

Salary Range: $69,931 to $96,155 annually.

Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.

We're actively seeking diverse backgrounds and perspectives to help make FirstOntario better. At FirstOntario, inclusion, diversity, and equity aren't just "nice to have" - they're essential to our success. Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.

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