Associate Vice President, Home Loan Underwriting

PenFed Credit Union
Published
December 19, 2020
Location
San Antonio, TX
Category
Job Type

Description

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family.

 

PenFed is hiring an AVP, Home Loan Underwriting at our San Antonio, TX location. The primary purpose of this job is the responsibility of all operations related to the Underwriting of Mortgage and Home Equity loan applications, ensuring high quality member service, efficiency, quality metrics, and corporate objectives through the adherence and execution of appropriate credit risk policies and procedures.

Responsibilities

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 

  • Lead nationwide, geographically-dispersed teams in a remote working environment to drive accountability for Mortgage underwriting operations across the organization (75 – 100+ staff).
  • Lead nationwide, geographically dispersed teams in a remote working environment to drive accountability for Home Equity underwriting operations across the organization.
  • Design and manage objectives, goals and performance standards for the underwriting of Mortgage and Home Equity loans.
  • Monitor and maintain staffing levels to ensure proper coverage as well as support the business and hours of operation to adhere to service levels. 
  • Develop monthly balanced scorecards (efficiency, quality metrics, service levels, etc.) for Underwriters, staff performance evaluations, and recommend content for training and development of Underwriters.
  • Establish performance metrics/monitoring for Mortgage and Home Equity Underwriting, establishing an effective framework for monitoring results.
  • Identify and monitor member, service levels, quality and cost metrics for all underwriting activities through monthly / quarter scorecards
  • Deliver monthly, quarterly and annual forecasting models for Mortgage and Home Equity to meet PenFed’s growth strategy and Member Demand.
  • Partner with Business Controls Team to ensure Underwriting is compliant and aligned with internal quality.
  • Oversee, report, and track Underwriting expenses vs. allocated operating budgets.
  • Partner with Credit Risk, Compliance and other support areas to develop and implement of policies and procedures for the Mortgage Underwriting team, as well as related departments.
  • Design and recommend underwriting outsourcing/contracting strategies to accelerate productivity.
  • Create high-performing teams and lead cultural change to deliver best in class results.
  • Develop and implement an Underwriting Organization for scale to include Operations Team, Credit Exception Desk, Appraisal Review area, Underwriting Quality, and Lending Authority.
  • Develop the training and development needs of underwriting staff, instrumental in the development, recommendation, and implementation of programs that will increase job enrichment, employee satisfaction, increase efficiency, productivity and cost-effectiveness.   
  • Provide complete overview of the Underwriting quality trending on all Conforming, Conventional, Jumbo & Super Jumbo loans, FHA to meet GSE, Appendix Q & PenFed guidelines.
  • Responsible for working with Lending Services to get approval from the Credit Risk Committee on changes related to product & underwriting guidelines. Update the Mortgage and Home Equity Origination Manuals related to Underwriting.
  • Validate & analyze reports that identify the responsible parties on findings reported by QC, QA, Loan Delivery, Post Closing, Credit Risk and/or Compliance. Communicates all trends for the responsible parties and any necessary action plans.
  • Provide guidance on escalated underwriting loan scenarios and requirements. Works closely with Underwriting Leadership Team and Loan Delivery to ensure all saleable loans are meeting investor requirements.
  • Remain current on all Mortgage and Home Equity related regulations and changes and keeps section staff informed.

 

*This role is responsible for ensuring business continuity.*

Qualifications

Equivalent combination of education and experience is considered.

  • Bachelor’s degree in a related field is required
  • Minimum twelve (12) years related work experience in Home Loans lending with at least seven (7) years of underwriting experience.
  • Minimum of five (5) years direct management experience including providing budgetary information, developing policies and guidelines and disciplinary actions.
  • Minimum of at least three (3) years managing a nationwide underwriting division. 
  • Experience managing Mortgage and Home Loans operations that involved customer interaction
  • Strong verbal and written communications skills required. Attention to detail required.
  • MS office general knowledge required.

Supervisory Responsibility

This position will supervise employees.

 

Travel

Ability to travel to various worksites and be on-call may be required.

 

Special Message Regarding COVID 19

PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world.  In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing.

 

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

 

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.

 

Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

 

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 531-444-8329.

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