Credit Assurance Analyst

DUCA Financial Services Credit Union; Toronto; On-site; CAD 80,000 - 100,000; Full time

Job summary

A financial services organization in Toronto is seeking a Credit Assurance Analyst to support retail and commercial credit management. This role involves analyzing credit files, ensuring compliance with standards, and conducting audits. Ideal candidates will have a business degree, 5+ years of mortgage experience, and strong analytical skills. The position offers a collaborative work environment and a competitive salary starting at $64,023 annually.

Qualifications

• Minimum of 5 years mortgage experience including both conforming and non-conforming mortgage products.
• Recent experience in a fulfillment or quality assurance/control position within the banking industry.

Responsibilities

• Analyze Retail and Commercial Lending files for compliance with underwriting standards.
• Implement audit strategies and conduct audits of credit files.
• Review sample files for mortgage pool purchases as directed.

Skills

Analytical skills

Attention to detail

Strong written and verbal communication

Ability to work under pressure

Education

Post-secondary degree in a business-related field

Tools

MS Office software

Job description

Overview

DUCA is a vibrant credit union founded in 1954, with 19 branches across Southern Ontario and over 85,000 members. We exist to help People, Businesses and Communities Do More, Be More and Achieve More. DUCA is distinguished for service, competitive rates, personalized financial solutions, profit sharing among Members, and multiple ways to bank. We are accessible 24/7 through online, mobile, phone, and in-branch services, and we support a community philosophy of profits with a purpose through the DUCA Impact Lab, a charitable foundation. DUCA is a B‑Corp certified organization, the first credit union to receive this recognition. A career at DUCA offers opportunities to make a difference with your unique abilities and perspectives, in a collaborative team environment.

Position

Credit Assurance Analyst

DUCA is looking for a Credit Assurance Analyst to join our growing team.

Job Purpose & Summary

The Credit Assurance Analyst supports the Retail & Commercial Credit Management Team. This role analyzes Retail and Commercial Lending files to ensure compliance with underwriting and documentation standards per DUCA policies and procedures. The Analyst implements audit strategies and conducts audits of DUCA and external business partner retail and commercial credit files. This position also reviews, prepares and cleanses credit files in preparation for regulatory, internal and mortgage insurer annual audits. The Analyst acts as a second line of defense for DUCA by reviewing retail, commercial and small business lending including mortgages, unsecured loans/lines, auto-loans, specialized lending files, term loans and lines of credit.

Key Accountabilities & Duties

• Review all required documentation for accuracy and legitimacy, mitigating DUCA’s risks related to AML/ATF.
• Work independently and make quick decisions with respect to data elements and the analyses to be performed.
• Conduct post-funding delinquency and decline reviews.
• Review sample files for mortgage pool purchases as directed.
• Implement quarterly Provincial Property Security Agreement reviews for Small Business Banking and Specialized Lending files.
• Enhanced Due Diligence reviews to be implemented when required.
• Conduct employment verification independently or through external partner portal.
• Perform follow-up reviews to ensure appropriate actions are taken on reported findings and that desired results are achieved.
• Ensure that exceptions, if any, are identified and escalated as per policy.
• Stay abreast of DUCA policies, guidelines and lending products to support recommendations or decisions related to credit files.
• Update and retrieve data for reporting purposes; ensure reviews are inputted accurately in the review database.
• Stay current on regulatory developments related to Credit Risk; provide feedback regarding credit performance and discrepancies and propose corrective actions.
• Provide recommendations regarding credit trends and issues; work with sales teams and internal/external stakeholders to comply with regulatory and risk requirements.
• Inform relevant parties of any identified gaps and recommend corrective actions; assist in preparing for internal audits and regulatory reviews.
• Deliver effective credit risk analysis to aid in the development and implementation of policies, strategies, scorecards and monitoring for DUCA’s Credit portfolios.
• Collaborate with credit adjudication and credit operations to validate and refine credit process controls.

Occupational Experience & Education Requirements

• Post-secondary degree in a business-related field.
• Minimum of 5 years mortgage experience including exposure to both conforming and non-conforming mortgage products.
• Knowledge of Unsecured, Small Business Banking and Specialized lending products.
• Recent experience in a fulfillment, conventional underwriting, or quality assurance/control position within the banking industry.
• Knowledge of mortgage default insurers, lending programs and requirements.
• Keeping up with the latest mortgage industry knowledge (B20, B21) and Anti-Money Laundering legislations and market trends.
• Current working knowledge of all consumer loan policies and procedures as well as credit scoring, risk scores and monitoring systems.

Knowledge Skills & Attributes

• Strong understanding of real estate secured lending, unsecured lending, auto-loans, and commercial lending documentation review.
• Knowledge of all conventional and government underwriting guidelines for Credit Unions.
• Strong knowledge of credit underwriting administration and monitoring practices.
• Analytical and negotiation skills to identify trends, patterns and anomalies in retail and commercial lending underwriting practices.
• Ability to work with Loan Origination Systems or quickly learn new systems.
• Accuracy, attention to detail and time management skills.
• Excellent investigation skills and multi-tasking ability.
• Ability to follow AML & ATF practices; work well under pressure and in a team.
• Strong written and verbal communication; ability to build relationships at all levels.
• Proficiency with MS Office software; results-oriented mindset.

Working Conditions

Normal office environment.

Department: Retail Credit

Primary Location: Corporate Office - 5255 Yonge Street, North York M2N 6P4

Employment Status: Full-Time

Hours per Week: 38

Salary: The annual salary range for this position starts at $64,023. Actual annual base salaries vary based on experience, knowledge, skills, qualifications and education. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.

Number of Vacancies: 1

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment-related accommodations will be provided upon request. Qualified applicants are encouraged to submit their application; resumes are required. We thank all applicants, but only those considered for an interview will be contacted.