Under the direction of the Manager, Loan Review (RESL), the primary purpose of the role is to complete independent, objective reviews of credit transactions against the Company’s credit risk policies and guidelines. The incumbent is responsible for the structured, objective and independent review of the Company’s credit transactions as selected by the Director, Loan Review or delegate.
Credit transactions include all Fairstone lending products including residential mortgage lending (RESL), direct lending (secured and unsecured), automotive, and credit cards. The incumbent is also responsible for making recommendations on training needs and modifications to lending guidelines and processes to reflect a best-in-class operation.
Risk Management & Compliance, in adhering to applicable compliance obligations, including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements, must remain the over-arching focus in carrying out one’s responsibilities as outlined below:
Loan File Review
The incumbent will be responsible for several different review types consistent with the team’s mandate and guidelines. Further details include:
- Independently review assigned credit files to objectively evaluate:
- the quality of the credit decision
- adherence to the Company’s underwriting policies, guidelines and standards including insurer requirements
- the integrity of file documentation and data inputs
- Ensuring observations are accurate and defensible
- Ensuring results are accurately documented in the database. Ensure errors of omission are minimized.
- Responsibility for presenting and defending individual file review results in debriefs with the Underwriting VPs, Directors and Managers. Constructively evaluate underwriter’s responses and establishment of final file rating.
- Responsible for identifying and referring suspicious files to Corporate Compliance as appropriate to assist the Company in fulfilling its regulatory responsibilities
- Collaboratively support the preparation and issuance of reporting relating to the review results for EVPs and Credit Risk Committee
- Recommend changes to policy, standards, guidelines and operational procedures to promote consistency and effectiveness of decisions as needed
- Identifies systemic risks and opportunities to enhance underwriting standards to reflect sound practice
Other:
- Proactively support ERM’s mandate including:
- identifying opportunities to improve the risk discipline in underwriting credit applications
- promote a strong risk culture within the Company
- identify and participate in related initiatives under the direction of the Director, Retail Loan Review
Qualification
- University degree in business, economics, finance or related discipline or related business experience
- Additional relevant accreditation(s), certification(s) are strong assets
- 3+ years underwriting experience
- Sound, practical knowledge of residential mortgage lending, particularly with Alt-A products
- Sound practical knowledge of insured mortgage products
- Proficient with residential property appraisal reviews
- Knowledge of residential mortgage credit policies, standards and guidelines
- Strong interpersonal relationship building and listening skills
- Proven ability to work both independently and collaboratively within a team environment
- Excellent written / verbal communication and professional maturity
- Solution-focused and takes initiative to work effectively and efficiently within established guidelines
- Strong organizational, time management, research/ analysis and attention to detail
- Able to multi-task and flourish in a fast paced, deadline-driven work environment
- Understands Home Trust Company’s lending criteria and culture
- Solid knowledge of MS Office
WE ARE PROUD TO BE RECOGNIZED AS Great Place to Work® Canada for 2025 and
Montreal's Top Employers 2025 by Canada’s Top 100 Employers!
Learn more: https://www.fairstone.ca/en/about/canadian-lender
Follow us on LinkedIn: https://www.linkedin.com/company/fairstone/mycompany/
If you have a preferred language for communication, please kindly inform us whether you prefer French or English on your application.
Fairstone is an equal opportunity employer. Accordingly, we will make reasonable accommodations to respond to the needs of people with disabilities. Individuals who view themselves as Aboriginals, members of visible minorities, and disabled are encouraged to apply in confidence.
Time Type:
Full time
Job Type:
Permanent