VP of Risk (Mortgage Lending, Non-QM)

Cake Mortgage Corp.•Los Angeles, CA

About The Position

CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We're redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we're looking for forward-thinking professionals who thrive in fast-paced, collaborative environments. The Vice President of Risk is responsible for leading the organization’s credit risk strategy, underwriting standards, and risk management framework within the mortgage lending business. This role ensures sound credit decisioning, regulatory compliance, and portfolio performance while supporting business growth across agency, non-QM, and portfolio lending products.

Requirements

10+ years of experience in mortgage lending, with a strong focus on credit risk and underwriting.
5+ years in a leadership role within risk management.
Deep knowledge of residential mortgage underwriting, including Agency and Non-QM products.
Strong understanding of investor guidelines, regulatory requirements, and risk frameworks.
Proven ability to manage risk while supporting business growth.
Experience with loan origination systems (e.g., Encompass) and risk/analytics tools.
Exceptional analytical, decision-making, and leadership skills.
Experience in Non-QM and DSCR lending.
Background in portfolio risk management or capital markets collaboration.
Advanced degree in Finance, Business, or related field.

Responsibilities

Develop, implement, and continuously refine credit policies, underwriting guidelines, and risk appetite.
Align credit risk strategy with company growth objectives across various mortgage products (e.g., Non-QM, DSCR, Agency).
Establish and oversee enterprise-wide credit risk management practices.
Monitor loan performance, delinquency trends, and default risk; recommend corrective actions as needed.
Ensure appropriate risk controls and mitigation strategies are in place.
Provide leadership and oversight to underwriting teams, ensuring consistency, quality, and efficiency in credit decisions.
Handle complex or high-risk loan scenarios and provide final credit authority when needed.
Ensure compliance with all applicable federal, state, and investor guidelines (e.g., Fannie Mae, Freddie Mac, Non-QM investors).
Stay current on regulatory changes and implement necessary policy updates.
Analyze portfolio performance, credit trends, and risk exposure.
Present insights and reporting to executive leadership and stakeholders.
Partner with Capital Markets, Secondary, Operations, and Sales to balance risk and production goals.
Support product development by evaluating risk implications of new offerings.
Oversee internal and external audit processes related to credit risk.
Ensure quality control reviews are effective and drive continuous improvement.
Build, mentor, and lead a high-performing credit and risk team.
Foster a culture of accountability, compliance, and sound credit judgment.