Credit Quality Assurance and Control Analyst

Credit Quality Assurance and Control Analyst

Job Purpose & Summary

The Credit Quality Assurance and Control Analyst supports the Retail Credit Management Team. This position is responsible for analyzing Retail Lending files to ensure compliance to the underwriting and documentation standards as per DUCA Financial Services Credit Union’s policies and procedures. 

The Credit Quality Assurance and Control Analyst implements audit strategies and conducts audits of DUCA and external business partner retail credit files. This position also reviews, prepares, and cleanses credit files in preparation of regulatory, internal and mortgage insurers annual audits.

The Analyst acts as a second line of defense for DUCA by reviewing funded mortgages, unsecured, small business, and specialized lending files on a monthly basis.

Key Accountabilities & Duties

• Select retail lending file samples and implement quality reviews.
• Retail lending includes Mortgages, Unsecured, Small Business Banking and Specialized Lending files.
• Review all required documentation for accuracy and legitimacy, mitigating DUCA’s risks related to anti-money laundering (AML) and anti-terrorist financing (ATF).
• Works independently and makes quick decisions with respect to data elements and the various analysis to be taken.
• The Reviews would include Post-Funding, Delinquency and Decline Reviews
• Review sample files for mortgage pool purchases as directed by quality manager.
• Implement quarterly PPSA reviews for SBB and Specialized Lending files.
• Enhanced Due Diligence reviews to be implemented when misrepresented docs, non-disclosure or suspect structure of application is identified.
• Conduct employment verification independently or through external partner portal.
• Perform follow-up reviews to determine appropriate action are taken on reported findings and that desired results are achieved.
• Ensure that exceptions if any are identified and escalated as per policy.
• Prepares, updates, and retrieves data for reporting purposes
• Collect, analyze, and prepare quarterly quality reports for business leaders.
• Ensure that all reviews are inputted correctly accurately in review data base.
• Stays current on regulatory developments related to Retail Credit Risk.
• Maintain up-to-date knowledge of DUCA policies, guidelines, and lending products to support recommendations or decisions related to credit files.
• The analyst will effectively provide regular feedback regarding performance, discrepancies and find solutions to identified defects.
• Providing opinions and recommendations to the Manager on relative credit issues.
• Well-developed negotiation, analytical and problem-solving skills to be able to identify trends, patterns, and anomalies in mortgage/retail underwriting practices.
• Works with the sales and internal teams to comply with regulatory requirements and deliver needed projects to maintain compliance on an ongoing basis.
• High quality communication and responsiveness with all stakeholders.
• Manage time efficiently and prioritize workloads to meet strict deadlines while handling multiple tasks.

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 Unsecured, Small Business Banking and Specialized lending products.
• Recent experience in a fulfillment, conventional underwriting or quality assurance or 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 residential mortgage documentation review
• Knowledge of all conventional and government underwriting guidelines for Credit Unions
• Strong knowledge and understanding of credit underwriting, administration, and monitoring practices.
• Ability to work on the Loan Origination System or strong aptitude to learn new systems
• Accuracy and attention to detail and time management skills
• Excellent investigation, analytical, and problem-solving skills
• Exceptional attention to detail and solid multi-tasking skills
• Excellent time management skills
• Ability to follow AML & ATF practices
• Ability to succeed under pressure and work in team
• Strong written and verbal communication skills
• Ability to build relationships at all levels
• Strong customer/ member service relations
• Displays pride in providing superb customer service
• Strong proficiency with MS Office software
• Results Oriented

Working Conditions

Normal office/hybrid environment

Department: Retail Credit 

Primary Location: Corporate Office

Employment Status: Full-time

Hours per Week: 38

Job Grade Level: 6

About DUCA

DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.

At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.

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. Applications must include both a resume and cover letter.

We thank all applicants but only those considered for an interview will be contacted.