VP, Operational Risk Management

Job Description:

• Provide direction and leadership to the Operational Risk Management Department and Program in support of LoanCare’s business objectives and goals.
• Maintain and evolve the Operational Risk Management Department, including staffing, organizational structure, influence and productivity, to scale risk management capabilities to support LoanCare’s growth and innovation.
• Maintain the operational risk management framework, policies, procedures, and controls.
• Manage and update the inventory of operational processes, associated risks, and internal controls.
• Execute control testing to validate the design and operational effectiveness of internal controls.
• Lead and ensure execution of the company’s Risk and Control Self-Assessment program and ongoing reporting.
• Conduct independent operational risk assessments.
• Establish and monitor Key Risk Indicators (KRIs).
• Identify emerging risks and implement proactive mitigation strategies.
• Perform root cause analysis of operational losses and ensure implementation of corrective actions as appropriate.
• Develop and maintain detailed operational process flows aligned with written procedures and controls.
• Collaborate with IT Risk Management and Service Provider Oversight teams to address technology, data, and service provider oversight related risks.
• Monitor and ensure maintenance of adequate insurance coverage for LoanCare, including periodic reviews and renewals.
• Monitor and report levels of concentration, counterparty, and model risk.
• Conduct and report results of physical security audits.
• Provide executive-level reporting to senior management, risk committee, and board of managers.
• Foster a strong risk culture across the organization through training and awareness.
• All other duties as assigned.

Requirements:

• High School Diploma or equivalent.
• Minimum 10+ years of experience in operational risk management within financial services, with at least 5 years in mortgage servicing or subservicing.
• Proven leadership experience managing risk programs and cross-functional teams.
• Proven track record in developing and implementing operational risk frameworks, including risk identification, assessment, mitigation, and monitoring.
• Experience with risk control self-assessments (RCSA), key risk indicators (KRIs), and loss event data analysis.
• Strong knowledge of applicable regulatory requirements and investor servicing guidelines.
• Familiarity with subservicing models, client relationship management, and contractual obligations.
• Strong understanding of federal and state mortgage regulations, including CFPB, RESPA, TILA, FDCPA, and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA).
• Experience managing compliance with GSE requirements and servicing standards.
• Expertise in internal control design and testing, policy development, and audit coordination.
• Familiarity with model risk management.
• Excellent analytical, problem-solving, and decision-making skills.
• Excellent verbal and written communication skills.
• Advanced data analytics and risk modeling.
• Familiarity with AI/automation in risk monitoring.
• Ability to leverage technology for operational resilience.
• Strong communication and presentation abilities for executive audiences.
• Proficiency in risk management tools and servicing platforms (e.g., MSP).
• Ability to multitask, organize, prioritize, and promptly research/resolve issues.
• Strong quantitative, project management, and resource management skills.

Benefits:

• Health & Welfare Coverage: Optional medical, dental, vision, life, and disability insurance
• Time Off: Paid holidays, vacation, and sick leave
• Retirement & Investment: Matching 401(k) plan and employee stock purchase plan
• Wellness Programs: Access to mental health resources, including free Calm memberships, and initiatives that promote physical and emotional well-being
• Employee Recognition: Programs that celebrate achievements and milestones
• Lifestyle & Learning Perks: Enjoy discounts on gym memberships, pet insurance, and employee purchasing programs, plus access to a tuition reimbursement program that supports your continued education and professional growth.

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