Senior Analyst, Commercial QA (12 month contract)

The Quality Assurance Analyst is responsible for performing reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations.  

The QA Analyst is responsible for assisting the Manager in the development and maintenance of the Quality Assurance Framework [“QAF”] for the SFR business and executes the necessary activities within the QAF and will be required to discuss and report on findings to the relevant stakeholders. 

The QA team’s objective is to ensure that the process is in line with current policy and procedures, is operating effectively and is coordinated with any department that is directly affected by the reported observations. 

The QA Analyst is responsible for conducting objective assessment and analysis of SFR mortgage files/documentation with focus on: 

• replicating the credit decision (includes TDS/GDS recalculation) 

• confirming compliance with established credit and operational policies, procedures, processes and controls 

• Detection of mortgage fraud and aid in fraud prevention measures, as outlined in the SFR Mortgage Fraud Control Procedures. 

• clear and factual reporting of findings/conclusions to the business unit 

This position requires an ability to analyze each document separately, but also to be able to relate it to the deal as a whole for Single Family Residential mortgages.  The QA Analyst will develop sound knowledge of what checks are required for each document in the file and how to identify and report each observation.     

• Review and analyze mortgage applications, credit approval form, corporate documentation, credit reports, income/employment documentation and funding documentation to determine accuracy and completeness. 

• Must have the ability to read and understand the Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations 

• Sound understanding of different product-types within SFR lending and the different processes that surround each product; such as Alternative, Prime, HELOC mortgages, CMHC Insured product and Third Party Serviced loans and mortgages 

• Have the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated documents and/or problems by making decisions that are sensible given the available information and resources. 

• Review data accuracy/integrity to ensure the information is consistently and routinely applied to the Company’s internal system. 

• Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings. 

• Ensure that all accounts suspected of containing fraud are accurately recorded on Sherlock and perform risk assessments on a broader scale, when identified. 

• Assist in the identification of new and evolving fraud trends or systematic issues and patterns. 

• Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business. 

• Provide support to the front line business for any new initiatives that may directly affect the review process or business unit objectives.  

• Provide excellent customer service to other departments through professional written and verbal communication. 

• Maintain knowledge and understanding of SFR products, operations, processes, services, systems and associated risks and controls. 

• Communicate with the Manager,  Quality Assurance on status reports and duty prioritization  

• Prepare training documentation as well as assist in training new staff or peers. 

• Review of new and/or revised regulations, policy and procedures and establish a continuous cycle of improvement for the QA Framework 

• Coordinate and/or support the completion of special reviews and assignments as requested by the CRO and/or Director, Fraud  Operations 

• Conducting credit/operational analysis reviews of credit files as part of due diligence activities associated with potential acquisitions 

• Conducting review of other staff members work for consistency and coaching purposes