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Credit Risk Manager - Mortgages

Job Title: Credit Risk Manager - Mortgages
Contract Type: Permanent
Location: London, London
Salary: £55000 - £65000 per annum + Benefits
Contact Name: Nick Irow
Contact Email:
Job Published: over 5 years ago

Job Description

International Banking Institution are currently building a new team to establish the Bank in regulated mortgages.
As such they have an exciting opportunity in the Credit Risk team based in the heart of London, The role reports directly to the Senior Risk Manager and will cover all aspects of owning the policy for regulated mortgage credit risk across the business. This is a permanent role and an excellent opportunity for an experienced credit risk manager in the regulated mortgage arena to assist with ambitious growth plans.
You will be responsible for:

  • Develop, manage, document and support the implementation of a mortgage credit strategy.
  • Develop the draft Mortgage Credit Policy, incorporating detailed criteria for the product portfolio and product specific loan to value ratio, repayment type, scoring profile.
  • In co-operation with the Head of Mortgage Credit, draft and maintain Credit Procedures, including a Residential Lending manual and departmental operating procedures relating to mortgage lending
  • Drive the development of enhanced portfolio profiling, including of grading, pricing and risk migration and risk mitigation through the use of external credit bureau data
  • Devise appropriate tools for oversight of the mortgage operation including an ageing policy and develop Key Risk Indicators to ensure early intervention where any mortgage advance presents signs of credit weakness
  • Monitor compliance with credit procedures and report on levels of non-compliance and escalate as appropriate
  • Analyse the health of the mortgage credit portfolio.
  • Have oversight of the portfolio using loss model reports (Probability of Default, Loss Given Default and Expected Loss), stress testing of the portfolio and analysis of results, and provisioning of the portfolio in relation to IFRS 9
  • Assess and report on the need for and effectiveness of training and quality assurance
  • Lead and participate in projects and apply best practice as appropriate to improve credit management processes
  • Monitor regulatory developments and macro-economic forecasts and changes to lender criteria and pricing from the perspective of risk to provide timely advice on product changes and possible impact on the bank's mortgage lending activities
  • In co-operation with the Credit Delivery and Legal departments, agree standards and criteria for valuations, valuation panels and legal panels
  • Within the Bank's overall ethical lending policies, agree the methodology for dealing with vulnerable customers and for identifying and monitoring forborne exposures with the mortgage portfolio
  • Within the Bank's overall provisioning policy agree specific criteria in relation to mortgage lending
  • Agree with the Financial Crime department the approach to identifying, preventing and countering mortgage fraud

The ideal candidate will have knowledge within regulated mortgages of:
Risk policy - policy formulation and assessing / managing policy changes due to regulation or consumer preferences and Risk Assessment