Collateral Risk Analyst
PenFed is hiring a Collateral Risk Analyst in Alexandria, Virginia. The primary purpose of this job is to review complex residential mortgage appraisals for acceptability of the property as collateral, assessment of the valuation risk and development of mitigation options.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
* Underwrite the quality of the appraisal report, overall condition of the property, and its functional design in order to evaluate the fair market value to serve as adequate collateral for a mortgage loan.
* Determine the completeness, accuracy and compliance with the minimum appraisal standards of USPAP, and other various secondary market investor lending program requirements (FNMA, FHLMC, FHA, VA or Portfolio guidelines) for investment quality and salability while employing prudent standards to minimize losses and ensure fair lending requirements.
* Provide assistance and support to the appraisal review staff by reviewing complex appraisals as needed and/or perform second level appraisal reviews.
* Review results of quality control reviews and Investor reviews to ensure proper resolution of issues. Conduct root cause analysis and develop action plans to correct issues and minimize collateral risk.
* Responsible for addressing issues or concerns regarding property value and/or qualitative concerns with our appraisal management companies and/or investors.
* Collaborate with appraisal manager to ensure appraisal review analyst (ARA) team is adequately trained and has the appropriate tools and resources to perform a high quality appraisal review that meets investor, federal and state regulations and PenFed requirements.
* Foster a cooperative team environment by maintaining strong communication with our origination team, and ensuring excellent member experience and continually looks for efficiencies to enhance our appraisal review process and services provided by our vendors.
* Responsible for organizing and conducting effective meetings and training sessions with employees at all levels of the organization.
* Participate in related special projects.
Education and Experience
* Bachelor’s degree in a related field is preferred however, a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions will be considered.
* Minimum of five (5) years of progressive responsibilities in mortgage originations, with strong working knowledge of appraisal review requirements and vendor management. Experience a supervisory capacity preferred.
* Knowledge of Uniform Standards of Professional Appraisal Practice (USPAP) and the Interagency Appraisal Evaluation guidelines.
* Familiarity with lending and credit laws and regulations, including but not limited to RESPA, Fair Credit Reporting, Regulations B, C, E and Z, Home Mortgage Disclosure Act (HMDA) Truth in Savings and the SAFE act.
* Excellent oral and written communication skills, strong analytical and decision-making skills.
This position will not supervise employees.
Licenses and Certifications
* Certified Residential Appraiser desired.
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*
Ability to travel to various worksites and be on-call may be required.
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.