Credit Quality Assurance and Control Analyst

Retail Credit
Toronto, Ontario

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 primarily responsible for analyzing retail credit risk of Retail Lending files at the pre and post-funding stage to ensure compliance to underwriting and documentation standards as per DUCA Financial Services Credit Union’s policies and procedures. The Credit Quality Assurance and Control Analyst will develop a sound knowledge of what reviews are required for each document in the file and how to identify and understand these documents. The Credit Quality Assurance and Control Analyst will have the ability to effectively provide feedback regarding performance and find solutions to identified defects.


Key Accountabilities & Duties

  • Review and audit an adequate sampling of retail credit applications to determine if DUCA Credit Union policies, general underwriting guidelines and procedures are being followed.
  • Review all required documentation for accuracy and legitimacy, mitigating DUCA’s risks related to anti-money laundering (AML) and anti-terrorist financing (ATF).
  • Analyze calculations and verifications of income & assets, and ensure credit reports, purchase agreements, appraisals, and other loan documentation are interpreted correctly
  • Review internal audit results, reporting on result of file audits and discuss feedback with manager
  • Perform follow-up reviews to determine appropriate action are taken on reported findings and that desired results are achieved.
  • Stays current on regulatory developments related to Retail Credit Risk.
  • Maintain up-to-date knowledge of DUCA Policies and lending products to support recommendations or decisions related to credit files.
  • Ensure that exceptions if any are identified and escalated as per policy.
  • Prepares, updates, and retrieves data for reporting purposes
  • The analyst will effectively provide regular feedback regarding performance, discrepancies and find solutions to identified defects.
  • Ensure that Quality Assurance requirements and Compliance review queries are dealt with in a timely and accurate manner.
  • Providing opinions and recommendations to the Manager on relative credit issues.
  • Assist with updating the quality control and assurance policies, procedures and processes in accordance with changes to regulations and internal policies and procedures. 
  • Well-developed negotiation, analytical and problem-solving skills to be able to identify trends, patterns, and anomalies in mortgage/retail underwriting practices.
  • Works with other internal teams to comply with regulatory requirements and deliver needed projects to maintain compliance on an ongoing basis.
  • Assist in the end to end adjudication process for new credits and annual reviews in accordance to DUCA credit policy and guidelines.
  • Works independently and makes quick decisions with respect to data elements and the various analyses to be taken.
  • Manage time efficiently and prioritize workloads to meet strict deadlines while handling multiple tasks
  • Identify process gaps related to QA selection and audit processes
  • Provides statistical analysis and reporting on retail credit risk

Occupational Experience & Education Requirements

  • Post-secondary degree, preferably in a business-related field
  • Minimum of 5 years mortgage experience, including exposure to both the prime, and subprime markets
  • Recent experience in a fulfillment, conventional underwriting or Quality Assurance or Quality Control position within the mortgage banking industry would be a definite asset
  • Knowledge of mortgage default insurers’ lending programs and requirements
  • In-depth knowledge of mortgage funding and lending processes would be an asset
  • Experience in processing or underwriting of consumer and mortgage loans
  • Current working knowledge of all consumer loan policies and procedures, as well as credit scoring, risk scores, and monitoring systems.

Knowledge, Skills & Attributes

  • A strong working knowledge of calculating and verifying income & assets, and evaluating credit reports, purchase agreements, appraisals, and other loan documentation
  • Must have manual underwriting experience, as well as automated
  • 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 environment.

Department: Retail Administration

Primary Location: 5255 Yonge St., North York, ON

Employment Status: Full-time

Hours per Week: 38

Job Grade Level: 6

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 welcomes and encourages applications from people with disabilities. Accommodations will be made upon request for all aspects of the selection process.

Qualified applicants are encouraged to submit both their resume and coverletter. We thank all applicants but only those considered for an interview will be contacted.

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