Credit Assurance Analyst

Why DUCA?

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.

DUCA (www.duca.com) is distinguished for the following:

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

Credit Assurance Analyst

DUCA is looking for a Credit Assurance Analyst to join our growing team!

Job Purpose & Summary

The Credit Assurance Analyst supports the Retail & Commercial Credit Management Team. This position is responsible for analyzing Retail and Commercial Lending files to ensure compliance to the underwriting and documentation standards as per DUCA’s policies and procedures.

The Credit Assurance Analyst implements audit strategies and conducts audits of DUCA and external business partner retail and commercial credit files. This position also reviews, prepares, and cleanses credit files in preparation of regulatory, internal and mortgage insurers annual audits.

The Analyst acts as a second line of defense for DUCA by reviewing retail, commercial, and small business lending including mortgages, unsecured loans/lines, auto-loans, specialized lending files, term loans, and lines of credits.

Key Accountabilities & Duties

• Review all required documentation for accuracy and legitimacy, mitigating DUCA’s risks related to anti-money laundering (AML) and anti-terrorist financing (ATF).
• Works independently and makes quick decisions with respect to data elements and the various analysis to be taken.
• Conduct post-funding, delinquency and decline reviews.
• Review sample files for mortgage pool purchases as directed.
• Implement quarterly Provincial Property Security Agreement reviews for Small Business Banking and Specialized Lending files.
• Enhanced Due Diligence reviews to be implemented when required.
• Conduct employment verification independently or through external partner portal.
• Perform follow-up reviews to determine appropriate actions are taken on reported findings and that desired results are achieved.
• Ensure that exceptions if any are identified and escalated as per policy.
• Stay abreast of DUCA policies, guidelines, and lending products to support recommendations or decisions related to credit files.
• Updates and retrieves data for reporting purposes.
• Ensure that all reviews are inputted accurately in review database.
• Stays current on regulatory developments related to Credit Risk.
• Provide regular feedback regarding credit and risk performance and discrepancies and find solutions to identify defects.
• Provide appropriate recommendations regarding credit trends and/or issues.
• Work with the sales teams, internal and external stakeholders to comply with regulatory and risk requirements.
• Inform relevant parties on any identified gaps and recommend corrective actions.
• Assist in preparing for internal audits and regulatory reviews.
• Deliver effective credit risk analysis to aid in the development and implementation of policies, strategies, scorecards, monitoring and guidance for DUCA’s Credit portfolios.
• Collaborate with credit adjudication and credit operations to validate and refine credit process controls.

Occupational Experience & Education Requirements

• Post-secondary degree in a business-related field.
• Minimum of 5 years mortgage experience, including exposure to both conforming and non-conforming mortgage products.
• Knowledge Unsecured, Small Business Banking and Specialized lending products.
• Recent experience in a fulfillment, conventional underwriting or quality assurance or control position within the banking industry.
• Knowledge of mortgage default insurers’ lending programs and requirements.
• Keeping up with the latest mortgage industry knowledge, B20, B21 and Anti-Money Laundering Legislations and market trends.
• Current working knowledge of all consumer loan policies and procedures, as well as credit scoring, risk scores, and monitoring systems.

Knowledge, Skills & Attributes

• Strong understanding of real estate secured lending, unsecured lending, auto-loans, commercial lending documentation review.
• Knowledge of all conventional and government underwriting guidelines for Credit Unions
• Strong knowledge and understanding of credit underwriting, administration, and monitoring practices.
• Negotiation, analytical and problem-solving skills to be able to identify trends, patterns, and anomalies in retail and commercial lending underwriting practices.
• Ability to work on the Loan Origination System or strong aptitude to learn new systems
• Accuracy and attention to detail and time management skills
• Excellent investigation skills
• Exceptional attention to detail and solid multi-tasking skills
• Excellent time management skills
• Ability to follow AML & ATF practices
• Ability to succeed under pressure and work in team
• Strong written and verbal communication skills
• Ability to build relationships at all levels
• Strong proficiency with MS Office software
• Results Oriented

Working Conditions

Normal office environment

Department: Retail Credit

Primary Location: Corporate Office - 5255 Yonge Street, North York, M2N 6P4

Employment Status: Full-Time

Hours per Week: 38

Number of Exsisting Vacancies: 1

Salary: The annual salary range for this position is $64,023 to $80,029. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. This position may be eligible for discretionary bonuses.

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Our hiring process includes AI screening for keywords and minimum qualifications. Talent Acquisition Partners review all results.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.