Credit Adjudicator, Mortgage Broker Services

FirstOntario Credit Union; Woodstock; Hybrid; CAD 70,000 - 96,000; Full time

Benefits offered by this job

Health benefits

Mental health benefits

Professional development allowance

Pension plan

Flex-work environment

Volunteer program

Employee Assistance Program

Exclusive banking benefits

Job summary

FirstOntario Credit Union is seeking a Credit Adjudicator to review and adjudicate mortgage broker credit submissions, including ALT A applications and renewals, while supporting the team and broker network.

The role requires ALT A lending experience, strong credit analysis skills and the ability to work in a fast-paced, hybrid environment in Woodstock, Ontario. You will contribute to continuous improvement and stay current with industry standards.

Qualifications

• 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 within six months of employment with passing grade
• Have working knowledge of credit related Policies and Procedures, Credit investigation and Analysis
• Must have knowledge of CMHC/Sagen and Canada Guaranty insurance requirements
• Strong analytical and problem solving skills with attention to detail
• Ability to structure a retail credit deal with discretion
• Familiar with adjudication platforms and banking systems
• Clear communication, interpersonal and presentation skills
• Quality assurance and QA best practices knowledge
• Business-minded with alignment of objectives and tech
• Organized, fast-paced, high-volume environment
• Respond quickly to client requests
• Demonstrate integrity and mitigate risk
• Be aware of and comply with FirstOntario policies and regulations

Responsibilities

• Review, recommend and adjudicate on mortgage broker credit submissions (within approved limit)
• Review ALT A mortgage applications and renewals, recommend decisions and adjudicate if within limit
• Coordinate and monitor quality of credit submissions from various sources
• Implement service improvements, new concepts and software technology
• Handle broker inquiries professionally with a member-first attitude
• Attend management meetings and communicate reporting changes clearly
• Act as SME for adjudication platforms (Valeyo Criterion, Filogix/Velocity)
• Suggest efficiencies and improved systems and processes
• Assist colleagues with complex issues
• Stay informed on industry trends and recommend tools and standards
• Perform other duties as required

Skills

ALT A lending experience

Credit analysis

Decision making

Analytical skills

Communication skills

Problem solving

MS Office/Banking systems

Education

Post-secondary degree or diploma (Business/Economics/Sociology/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?

• Competitive compensation packages
• 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
• Exclusive banking benefits
• 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 (2 vacancies) 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.