Summary
Reporting directly to the Chief Credit Officer, the Director of Mortgage Underwriting is responsible for overseeing the mortgage underwriting process. This senior leadership role will manage risk assessment based on financial analysis and creditworthiness. This role requires strong leadership skills, in-depth knowledge of mortgage products, and the ability to implement underwriting guidelines. The Director will collaborate with other departments to optimize the lending process and improve efficiencies. The Mortgage Underwriting Director plays a critical role in maintaining the integrity and profitability of the mortgage lending operation.
Responsibilities
- Strategic Leadership: Establishes a clear vision for the underwriting department that aligns with the Credit Unions overall goals of the organization including setting long-term strategies to enhance skills in response to industry demands.
- Collaborative Leadership: Works closely with the Director of Operations and Director of Sales to ensure a collaborative and supportive environment acutely focused on maximizing the member and team experience.
- Employee Development: Implement comprehensive employee development programs that nurture individual strengths and promote personal and professional growth, fostering a culture of continuous improvement and professional development. This includes recruiting top talent and facilitating training on new products and technologies.
- Empathetic and Performance Management: Lead with empathy and authenticity, building trust and encouraging open communication within the team and across departments. Establish key performance indicators (KPIs) and regularly monitor progress. Implement strategies to address any performance gaps.
- Team Management: Directly oversees and Underwriting team and credit administrator fostering a culture of collaboration, innovation, and excellence.
- Process Optimization: Identify opportunities for process improvement and implement best practices.
- Risk Management: Identifying and mitigating risks associated with loan underwriting. This involves monitoring market trends, regulatory changes, and emerging risks to make informed decisions protecting the safety and soundness of the credit union.
- Technology Integration: Evaluating and implementing underwriting software and tools that enhance the underwriting process, improve accuracy, and streamline operations.
- Reporting and Analysis: Provide regular reports to senior leadership on operational performance, risk management, and strategic initiatives.
- Member Experience: Ensure that all underwriting processes are designed with the member experience in mind, balancing risk and efficiency with high-quality service delivery.
Perform other duties as assigned by the Chief Credit Officer.
Knowledge, Skills and Abilities
- Comprehensive understanding of various mortgage products, including conventional, FHA/VA, and the credit unions Internal Portfolio products and risk management practices.
- Strong leadership skills with the ability to motivate and guide diverse teams towards common goals.
- Understanding of industry standards and regulations, including those sent by Fannie Mae, Freddie Mac and other governing bodies.
- Excellent analytical and problem-solving skills, with the ability to make data-driven decisions.
- Proficiency in mortgage technology systems and a forward-thinking approach to technology integration.
- Exceptional communication skills, both written and verbal, with the ability to effectively communicate with staff, leadership, and external partners.
- Strategic thinking ability to develop and implement long-term strategies for the underwriting department that align with the credit unions business goals.
- Capability to make timely, informed decisions regarding loan credit decisions.
- Talent for creating a collaborative, inclusive, and positive team environment that fosters personal and professional growth.
- Ability to lead with authenticity and transparency, building trust and loyalty within the team and with cross-functional partners.
- Skill in recognizing and nurturing the unique strengths of each team member, promoting a culture of mutual support and shared success.
Qualifications
- Bachelor's degree in Business Administration, Finance, or a related field preferred.
- 8+ years of experience in mortgage underwriting, with at least 5 years in a senior management role.
- Proven track record of successfully leading and improving mortgage operations in a financial institution.
- Strong understanding of financial and operational metrics in the mortgage industry.