Principal Risk Specialist - Underwriting QA

Principal Risk Specialist - Underwriting QA

The Principal Risk Specialis role provides a high level of exposure across the Small Business Banking line of business and provides an opportunity to implement innovative quality assurance and control processes designed to proactively identify, evaluate, and mitigate potential operational risks associated with underwriting practices. The Principal Risk Specialist will be a critical member of the Quality Assurance Team for Small Business Bank Credit Operations.

The Principal Risk Specialist will own and execute controls for a segment of the end-to-end lending process

Key Responsibilities :

• Conduct reviews and testing procedures to determine compliance with Underwriting policies, procedures, and controls on new loan requests, renewals, annual reviews, interim reviews, modifications, and WAC reviews

• Communicate review findings to appropriate parties and recommend corrective action plans to control defects’ occurrence

• Analyze trends, identify control gaps, and recommend routine and non-routine solutions for process changes

• Complete process steps to adequately document QA Review performed and to support conclusions reached

• Corrective action - Identify and track events and issues to mitigate risk to Capital One. Coordinate with applicable business areas to define/ implement remediation activities

• Carry out duties in compliance with all state and federal regulations and guidelines

• Champion and enhance organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives

• Ensure that Quality Assurance practices, policies and procedures are updated in a timely manner, maintained online, and reviewed periodically to ensure applicability, accuracy and relevance

• Ensure completion of monthly production requirements within SLA’s

• Risk Consulting to one or more Business Areas relative to their business lines and provide advice and guidance as required

• Is proactive about identifying and delivering improvements in our Small Business credit policy, underwriting, and/or risk management, and performs special project work as appropriate.

• Contributes to department training

Qualities of a Successful Candidate:

• Judgement:
  You will exercise sound, independent judgment to prioritize issues, make critical operational decisions, and determine the appropriate course of action, ensuring compliance and business continuity in a complex, fast-paced environment.

• Communication:
  You will be communicating and partnering with your team, auditors, and key stakeholders across all levels of the company. Excellent verbal and written communication, capable of articulating complex risks and gaining buy-in for mitigation strategies will be critical to your day to day work life.

• Risk Management:
  
  You should recognize red flags or patterns that could signal elevated risk and understand when exceptions are reasonable vs. when they introduce unnecessary exposure.

• Intellectual Curiosity:
  You ask why, exploring underlying issues, and creating unique solutions to challenges. You should find motivation in understanding why problems exist and how to solve them in a fast paced, live operational environment.

Basic Qualifications :

• High School diploma, GED or equivalent certification

• At least 3 years of experience in credit administration, loan underwriting, credit review, small business lending, commercial lending, or a combination.

• At least 1 year of experience with Microsoft Office or Google Suite

Preferred Qualifications :

• Bachelors Degree or military experience

• Completion of a formal Credit Training or Credit Underwriting Program

• 5+ years of Financial Services Risk Management Experience

• 5+ years experience in Quality Assurance or Internal Audit

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles…