AVP, Originations Crd Rsk
PENNYMAC:
Pennymac is (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.
At Pennymac, our people are the foundation of our success and at the heart of our dynamic work culture. Together, we work towards a unified goal of helping millions of Americans achieve aspirations of homeownership through the complete mortgage journey.
A Typical Day:
The AVP of Credit Risk Originations is responsible for developing and maintaining the credit policies that govern our mortgage loan origination process. This role involves a combination of policy development, quality control, process improvement, and data analysis to mitigate credit risk and maintain compliance with investor, insurer, and regulatory guidelines.The ideal candidate will possess a strong understanding of mortgage lending, credit risk principles, and regulatory requirements, along with excellent analytical and problem-solving skills.
The AVP of Credit Risk Originations will:
- Enhance and maintain origination credit policies and procedures (P&P) to ensure alignment with investor/insurer guidelines and regulatory requirements
- Identify and address gaps in P&P, incorporating changes resulting from the Change Management process and ongoing process improvement initiatives
- Support the review of non-agency pooling agreements
- Enhance and maintain the scope and questionnaires for origination QC activities
- Design and maintain automated QC tests for the loan origination function
- Conduct deep-dive investigations and trend analysis of Early Payment Defaults (EPDs) to identify root causes and recommend policy changes
- Support Origination Credit Risk Policy’s change management process Conduct Credit Risk Management (CRM) Originations Business Review Meetings (BRMs)
- Perform control evaluations of the Mortgage Fulfillment Department (MFD)
- Respond to credit policy questions from the first line of defense
- Assist with exam responses, including gathering documents, providing P&P, and writing narratives
- Participate in Requests for Information (RFIs) and Government Relations policy change advocacy.
What You’ll Bring:
- Bachelor's degree in Finance, Business Administration, or a related field
- 5+ years of experience in mortgage originations, credit risk management, or a related field
- Strong understanding of mortgage origination processes, credit risk principles, and relevant regulations (e.g., GSE, agency, MI guidelines)
- Proven experience in developing, writing, proofreading, and implementing credit policies and procedures
- Familiarity with various loan products, underwriting guidelines, and industry best practices
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills
- Proficiency in data analysis tools and techniques
Why You Should Join:
As one of the top mortgage lenders in the country, Pennymac has helped over 4 million lifetime homeowners achieve and sustain their aspirations of home. Our vision is to be the most trusted partner for home. Together, 4,000 Pennymac team members across the country are guided by our core values: to be Accountable, Reliable and Ethical in all that we do.
Pennymac is committed to conducting a business that makes positive contributions and promotes long-term sustainable growth and to fostering an equitable and inclusive environment, where all employees and customers feel valued, respected and supported.
Benefits That Bring It Home: Whether you're looking for flexible benefits for today, setting up short-term goals for tomorrow, or planning for long-term success and retirement, Pennymac's benefits have you covered. Some key benefits include:
- Comprehensive Medical, Dental, and Vision
- Paid Time Off Programs including vacation, holidays, illness, and parental leave
- Wellness Programs, Employee Recognition Programs, and onsite gyms and cafe style dining (select locations)
- Retirement benefits, life insurance, 401k match, and tuition reimbursement
- Philanthropy Programs including matching gifts, volunteer grants, charitable grants and corporate sponsorships
- We value the hard work and dedication of our employees. In addition to a competitive salary, positions may offer bonus opportunities.
To learn more about our benefits visit:
https://pennymacnews.page.link/benefits
Compensation: Individual salary may vary based on multiple factors including specific role, geographic location / market data, and skills and experience as defined below:
- Lower in range - Building skills and experience in the role
- Mid-range - Experience and skills align with proficiency in the role
- Higher in range - Experience and skills add value above typical requirements of the role
Some roles may be eligible for performance-based compensation and/or stock-based incentives awarded to employees based on company and individual performance.
Salary: $90,000 - $150,000
Work Model: OFFICE