Retail Credit Underwriter

Retail Credit Underwriter

Job Purpose & Summary

The Retail Underwriter will underwrite, process and approve retail applications including complex, non-conforming/alternative mortgage applications within prescribed authorized limits and specified turnaround times.  The incumbent will ensure that all documentation adheres to DUCA’s policies and guidelines, and other external guidelines and legislation, while mitigating potential risks.  The incumbent will contribute to the development and maintenance of accounts and maintain strong relationships with internal and external partners and make recommendations for continuous improvements on processes to ensure client satisfaction.

Major Duties and Responsibilities 

• Underwrites credit on complex, conforming and non-conforming mortgage applications.
• The review, analysis and verification of mortgage application information including the analysis of financial statements, income documentation, property assessments, appraisals and credit bureaus to ensure accuracy, while ensuring adherence to DUCA’s policies and guidelines and external lender guidelines/insurers (CMHC, Genworth & Canada Guaranty).
• Evaluates and analyzes documentation and applications supplied by all clients to ensure adherence to AML legislation and Know-Your-Client (KYC) legislation.
• Contacts the mobile specialists/ brokers/retail branch staff for additional information or clarification to facilitate an effective and timely decision on deal.
• Approves mortgages and set conditions within established lending policies and limits using good judgement to provide win-win solutions.
• Responds to questions or concerns from all clients with the intent to build/maintain relationships.
• Handles and resolves escalated service issues and offers solutions to maintain excellence in client satisfaction.
• Recognizes upsell opportunities, recommending options and provide solutions and alternate mortgage proposals.
• Understands the importance of risk decisions in successful portfolio management.
• Maintains a 4-hour turnaround time on applications.
• Responds to questions received from mobile specialist, brokers and branch staff via email, fax and phone within same day of receipt to ensure timely and accurate completion of each mortgage transaction.
• Participates in projects as required to assist in the building and development of the business.
• Reviews all documentation pertaining to adjudication and approvals of loans, while mitigating potential risks identified on documentation by the Retail Credit Associate.
• Keeps current with all relevant legislation and DUCA’s policies and procedures.

Qualification and Skills 

• Minimum of five years’ experience of residential mortgage underwriting.
• Minimum of three years’ experience with conforming and non-conforming / alternative lending experience.
• Previous experience working with mobile specialists and mortgage brokers.
• Demonstrated, sound credit judgment.
• Proficient knowledge of principles of credit analysis and risk management.
• Ability to understand financial statements and assess financial viability.
• Strong understanding of residential mortgage products.
• Results-driven and deadline-driven in a high volume, team environment.
• Strong attention to detail, analytical and problem-solving skills
• Strong interpersonal, organizational and time management skills.
• Proven conflict resolution and strong decision-making ability.
• Elevated knowledge of fraud risk in the mortgage industry
• 5+ years’ mortgage experience in the Prime and alternative mortgage market
• 3+ years’ mortgage and retail credit underwriting experience
• Proficiency in the use of MS Office suite.

Department: Retail Credit

Primary Location: 5255 Yonge Street, North York, ON

Employment Status: Full-Time 

Hours per Week: 38

Job Grade Level: Six (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.