Principal Risk Specialist - Underwriting QA
About The Position
The Principal Risk Specialist role provides a high level of exposure across the Small Business Banking line of business and provides an opportunity to implement innovative quality assurance and control processes designed to proactively identify, evaluate, and mitigate potential operational risks associated with underwriting practices. The Principal Risk Specialist will be a critical member of the Quality Assurance Team for Small Business Bank Credit Operations. The Principal Risk Specialist will own and execute controls for a segment of the end-to-end lending process.
Requirements
- High School diploma, GED or equivalent certification
- At least 3 years of experience in credit administration, loan underwriting, credit review, small business lending, commercial lending, or a combination.
- At least 1 year of experience with Microsoft Office or Google Suite
Nice To Haves
- Bachelors Degree or military experience
- Completion of a formal Credit Training or Credit Underwriting Program
- 5+ years of Financial Services Risk Management Experience
- 5+ years experience in Quality Assurance or Internal Audit
Responsibilities
- Conduct reviews and testing procedures to determine compliance with Underwriting policies, procedures, and controls on new loan requests, renewals, annual reviews, interim reviews, modifications, and WAC reviews
- Communicate review findings to appropriate parties and recommend corrective action plans to control defects’ occurrence
- Analyze trends, identify control gaps, and recommend routine and non-routine solutions for process changes
- Complete process steps to adequately document QA Review performed and to support conclusions reached
- Corrective action - Identify and track events and issues to mitigate risk to Capital One. Coordinate with applicable business areas to define/ implement remediation activities
- Carry out duties in compliance with all state and federal regulations and guidelines
- Champion and enhance organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives
- Ensure that Quality Assurance practices, policies and procedures are updated in a timely manner, maintained online, and reviewed periodically to ensure applicability, accuracy and relevance
- Ensure completion of monthly production requirements within SLA’s
- Risk Consulting to one or more Business Areas relative to their business lines and provide advice and guidance as required
- Is proactive about identifying and delivering improvements in our Small Business credit policy, underwriting, and/or risk management, and performs special project work as appropriate.
- Contributes to department training
Benefits
- comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being
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What This Job Offers
Job Type
Full-time
Career Level
Principal
Education Level
High school or GED
Number of Employees
5,001-10,000 employees
