Specialist, Loan Quality Control (Underwriter)
WFA Digital Insight
As the remote job market continues to evolve, demand for skilled professionals in loan quality control has grown significantly. With the rise of digital banking, companies like BMO are looking for experts who can ensure timely and accurate service delivery. The loan quality control space has seen a 25% increase in job postings over the past year, making this a great time to join the industry. BMO stands out for its commitment to inclusivity and employee growth, offering a range of benefits and opportunities for professional development. Before applying, candidates should be aware that underwriting experience and analytical skills are highly valued in this role.
Job Description
About the Role
The Specialist, Loan Quality Control (Underwriter) plays a critical role in supporting mortgage quality review at BMO. This role involves verifying vendor underwriting practices to ensure they meet BMO's requirements, analyzing root causes of errors, and providing effective communication and coaching to improve underwriting quality. As part of the Business Management group, this position contributes to the achievement of business results and productivity goals.The successful candidate will work mostly independently, exercising judgment to identify and solve problems within given rules. This role offers the opportunity to think creatively and propose new solutions, contributing to the continuous improvement of the business unit. Collaboration and team skills are essential, as the Specialist will work closely with various stakeholders to achieve business objectives.
BMO is committed to providing a supportive work environment that fosters growth and development. With a strong focus on inclusivity and diversity, the company offers a range of benefits and programs to help employees thrive in their careers.
What You Will Do
- Execute work and audit files to ensure timely, accurate, and efficient service delivery
- Analyze root causes of errors discovered during underwriting to provide effective communication and coaching
- Verify vendor underwriting practices to ensure compliance with BMO's requirements
- Collaborate with stakeholders to achieve business objectives and improve underwriting quality
- Provide ongoing support to the continuous improvement process of the business unit
- Think creatively and propose new solutions to improve underwriting practices
- Exercise judgment to identify, diagnose, and solve problems within given rules
- Work mostly independently, with occasional collaboration with team members
- Stay up-to-date with industry trends and developments in mortgage underwriting
What We Are Looking For
- 3-5 years of relevant experience in mortgage underwriting or a related field
- Post-secondary degree in a related field of study or an equivalent combination of education and experience
- Underwriting experience of residential mortgages is highly preferred
- Bilingual skills will be considered an asset
- Verbal and written communication skills (English)
- In-depth collaboration and team skills
- Analytical and problem-solving skills
- Ability to work independently and exercise judgment
Nice to Have
- Experience with mortgage quality review and underwriting practices
- Knowledge of BMO's underwriting requirements and guidelines
- Familiarity with industry trends and developments in mortgage underwriting
- Certification in mortgage underwriting or a related field
Benefits and Perks
- Competitive salary range ($45,500 - $84,500)
- Performance-based incentives and discretionary bonuses
- Health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans
- Opportunities for professional development and growth
- Collaborative and inclusive work environment
- Remote work arrangements and flexible scheduling
- Access to industry-leading tools and technologies
- Recognition and reward programs for outstanding performance
How to Stand Out
- Develop a strong understanding of mortgage underwriting principles and practices to stand out in the application process.
- Create a portfolio of your underwriting experience, including examples of complex cases and successful resolutions.
- Be prepared to discuss your analytical and problem-solving skills, and provide specific examples from your experience.
- Research BMO's underwriting requirements and guidelines to demonstrate your knowledge and enthusiasm for the role.
- Consider obtaining certification in mortgage underwriting to enhance your credentials and career prospects.
- Prepare to discuss your experience with collaboration and team skills, and provide examples of successful team projects.
- Ask about opportunities for professional development and growth during the interview process to demonstrate your commitment to your career.
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