VP, Operational Risk Officer

Arlington, Virginia
Aug 21, 2018
Sep 25, 2018
Full Time

National Cooperative Bank is seeking a VP, Operational Risk Officer for the VA office.  The purpose of the Vice President, Operational Risk Officer is to fulfill the responsibilities of the second line of defense as defined herein within the Master Servicing Team.   The first line of defense refers to those functional areas under the COO who engage directly in the Bank’s loan servicing and investor compliance operational activities. The second line reviews, measures, monitors, reports, and provides independent challenge regarding the first line’s adherence to Master Servicing policies and procedures and guidelines. The Bank uses the second line to provide assurances that the first line design controls properly and operates as expected.  Internal Audit, the third line of defense, provides independent assurance to the Board that both the first and second lines of defense execute on their operational risk responsibilities effectively.

The Operational Risk Officer for Master Servicing will create a transparent, structured approach for identifying, measuring, reporting, monitoring and managing operational risks of loan servicing and investor compliance. The position will also be responsible for setting and enhancing methodologies and processes to support the effective assessment of operational risk levels, including identification of related emerging risks.  Lastly, the position will work with technology partners to provide automated and actionable operational risk information in a timely manner by leveraging NCB’s Enterprise Data Warehouse.
1. Establish reporting metrics for operational risk governance.  Manage and oversee the Master Servicing Risk Assessment process.   Prepare reports of findings and meet with supervisors, managers, and others to discuss findings and recommendations.  (15%)

2. Daily review of file maintenance reports for McCracken, SBA and Fiserv servicing systems. Analyze the nature and cause of errors to identify areas needing improvement in the departments’ processes and systems (20%)

3. Monthly review of all new loans/covenants set up in McCracken and nCino.  Verify critical fields and set-up time related to new loans ensuring that transactions are properly translated into the core in accordance with source documentation. (10%)

4. Monthly review of ARM changes.  Monthly review of new CREFC/Fannie Mae investor set up checklist.  Track and reconcile monthly disbursements.  Monthly review of Transactions with Affiliates (TWA).  Monthly review of prepayment penalty data entry in Backshop and nCino.  (15%)

5. Conduct regular compliance reviews, provide reports, maintain documentation and make recommendations for quality control improvement. This will include, but not be limited to, quarterly HMDA, CRA, and Flood Insurance reviews. Regular review of UCC filings to ensure accurate tracking of collateral and a review of NCB’s Enterprise Content Management process and procedures. (20%)

6. Weekly review of paid off loans to confirm accurate release of documents.  Weekly review/sample of suspense items other than special assets.    (10%)

7. Manage internal and third-party audits in coordination with department manager. Work closely with Compliance and Audit departments to ensure necessary quality control elements are in place to address audit and exam findings. (10%)

Bachelor’s Degree, preferably with a concentration in finance/real estate 
Seven to ten years of servicing, risk management, compliance, investor reporting, and management experience.  Banking experience a plus
Thorough knowledge of risk management/quality control
Thorough knowledge of real estate and commercial real estate lending
Excellent teamwork/collaboration skills
Effective communication – both written and verbal
Capable coaching and training skills
Microsoft Office: Word, Excel, Power Point
CREFC Investor Reporting
FNMA Investor Reporting
Will need to become or already be proficient with
McCracken Servicing System 
NCB Internal Applications
NCB Enterprise Data Warehouse and Microstrategy

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