Analyst I, Quality Control

Analyst I, Quality Control

Knowledge and Skills
Knowledge:
Although this individual will not have credit authority, they must possess the skill set and knowledge to be credit qualified in accordance with P & P 200-04. This position will require a qualification level 4 demonstrating a knowledge level of (I ? In Depth) for credit and (W - working) for portfolio management.
The holder of this position is not expected to be a subject matter expert in all facets of consumer lending but would possess an in-depth knowledge of all areas and require a minimum of supervision in completion of all prescribed tasks except in more complex situations.
This position will possess an undergraduate degree or equivalent work experience
Minimum of 10+ years of consumer underwriting or related experience
In Depth knowledge of existing programs and products within Harris consumer lending.
The position requires an in depth knowledge of complex consumer credit transactions with regard to underwriting, loan structure, documentation, and origination channel.
In depth knowledge of secondary market requirements, policies and procedures and vendor requirements within the reviewed areas.
In depth knowledge of Harris Credit Directives, Policies and Procedures, Lending Authorities, etc.
This position will possess a strong In Depth knowledge of all Harris or third party lending partner policies and procedures.
In depth knowledge of Residential Real Estate Mortgage appraisal requirements.
In depth knowledge of retail loan documentation requirements
In depth knowledge of compliance requirements of retail credit.
Maintain in depth knowledge of regulatory and industry standards and trends.
In depth knowledge of origination and performance systems.
This position requires a higher level of knowledge of Harris lending directives, operating and originations systems used and vendor relationships and requirements of vendors that may impact the Risk Management/Quality Control areas.
Skills:
Ability to work independently using the knowledge set to produce reports to the CRMC. This should be accomplished on a monthly basis with minimal oversight required.
Strong communicative skills to articulate results in a precise manner to the LOB, Manager, Retail Credit Strategy.
In-depth knowledge of production systems and performance systems related to retail credit.
Ability to interact and communicate with the department management and LOB management
Ability to work with LOB and Manager, Retail Credit Strategy to assure implementation of appropriate processes if issues are discovered.
Ability to direct junior QC staff in completion of day to day functions.
Excellent judgment, logic and reasoning
Computer literate with proficiency in Microsoft Office suite of products.

BMO Harris Bank thanks all applicants. We advise only those who qualify for an interview will be contacted.
At our company, we have been helping our customers and communities for over 125 years. In July 2011, our parent company BMO Financial Group acquired Marshall & Ilsley Corporation (M&I). Over the next year, we will be working to bring the best of Harris and M&I together under the BMO Harris Bank name. Working with us means being part of a team of talented, passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance.

BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. We are an Equal Opportunity Employer. By embracing diversity, we gain strength through our people and our perspectives

Mandate
Under the direction of the Manager, Retail Credit Strategy, the Quality Control Analyst I is accountable for monitoring adherence to underwriting and documentation standards as prescribed by Harris or third party lending partners (such as Secondary Markets or Private Mortgage Insurers). The incumbent will be responsible for review of all consumer credit transaction types with a focus on the more complex situations. The Bank?s retail portfolio includes multiple product lines (Home Equity, Direct and Indirect Consumer Lending, Residential Mortgage and Small Business) and multiple origination channels (branch, dealer, call center and internet). Proper underwriting and documentation ensures the Bank is able to meet the demands of its customers while maintaining acceptable levels of risk within the credit portfolio.



Key Accountabilities
Monitor Adherence to Harris or Third Party Lending Partner Policy and Procedure
Review and re-underwrite a representative sample of consumer credit decisions in order to assess compliance with Harris or third party lending partner policy and procedures. This would include credits of all sizes and complexity levels.
Review early payment defaults, first payment defaults and charge offs in order to assess underlying factors contributing to poor performance and other appropriate reviews as determined from time to time.
Review and re-underwrite a representative sample of consumer credit decisions made as exceptions to approved standards (credit or pricing) in order to assess compliance with sanctioned exception approval processes.
File reviews will include an assessment as to the adequacy of required documentation including approval documentation, promissory note, lien perfection, and disclosure requirements.
Escalates areas of concern to the Manager, Retail Credit Strategy for further review and possible further escalation.
Generate conclusions and presents findings to Manager, Retail Credit Strategy and Line of Business Management

Production of Monthly Reporting
Prepare final reports for review by Manager, Retail Credit Strategy and the CRMC (Consumer Risk Management Committee).
Contribute to the production of other portfolio monitoring reporting as needed.
Make recommendations to manager related to modifications and improvements in report structure and content to aid CRMC and LOB in use of final reports.
Monitor QC results for emerging trends and escalate issues to the manager as appropriate.
Meet with the LOB on a monthly basis to discuss QC results and possible process improvement that might address findings reporting all meeting results to Manager, Retail Credit Strategy.
Track LOB responses to QC findings to assure response expectations are met or if issues in the responses continue, escalate the matter to manager for review and possible further action.
Coordination and Mentoring
Monitor day to day work flows and report to manager when production issues occur.
Leverage experience to assist with questions on moderately complex situations.
Act as a training resource to assist with directing the less experienced staff to various resources available to assist in job performance.
Provide advice, guidance and direction to QC Analyst II with questions regarding common underwriting activities and QC activities.


Authorities
Managerial As team leader, authorities to deploy and direct staff within QC activities, based on prior consultation with the Manager, Retail Credit Strategy.
Information Access Authorities to access information, records, facilities, systems, and personnel of the enterprise, including authorities to access and use confidential customer and financial information.
Empowerment Authority to interact, within limitations, with the LOB and resolve issues or concerns found during the QC reviews or escalate to manager for further discussion and disposition.

Scope and Impact
Results from QC efforts will provide a level of confidence to senior management and/or the secondary market that loan production is within the risk tolerances of the appropriate parties.
CRMC reports produced by this position will be used by Risk Management and LOB as a partial basis for product structure and credit directives.
With the mentoring and day to day interaction with the QC Analysts it is expected that this team member will facilitate the improvement of the skill sets of the more junior team member thus creating a stronger overall QC effort for the bank.


Cross Functional Relationships
Monitoring Assure that all Harris Policies and Procedures and Secondary guidelines are adhered to and assure that loan authority is complied with, that policy changes are implemented correctly. Also assure adherence to use of approved appraisers.
Advisory Work with LOB to assure that if issues are discovered, adjustments are made to eliminate them. While the LOB would not be required to take this advice, the individual would retain authority to escalate any items that are not implemented or corrected to the manager for further disposition.
Escalation/Recommending Escalate or make recommendations to manager to report uncorrected deficiencies in the consumer loan credit portfolio that increase overall risk of retail loan portfolio for further disposition.