Open Position: Vice President, Mortgage Operations
Reports to: COO
Supervisory duties: Supervises Processing and Funding Staff
Job Type: Full-time, exempt, hybrid/remote
Location: Kirkland, WA preferred but will consider remote candidates with the right background.
Pay range: $145,000 - $175,000 annual
About Us
We’re Rain City Capital–a private real estate lender. We put our borrowers first, which is how we’ve built our business almost exclusively on word-of-mouth referrals. No two workdays are the same, so our team is comprised of individuals who aren’t afraid to roll up their sleeves and take care of business. Our office is energetic, fun, and committed to leading the industry by putting the relationship before the transaction.
About You
You’re a highly competent leader in a banking or mortgage environment with extensive mortgage operations management and leadership experience. You have a proven track record of effective strategic, risk management, planning, problem-solving, and management skills, and take pride in your work without taking yourself too seriously. You value authenticity, accountability, and action in your personal and professional relationships and are driven every day by your enthusiasm for our industry, our company, our team, and our shareholders. As a leader, you are focused on people—you create an environment of mutual respect and inspiration by listening to others and leading by example. When it’s time to get things done, you expertly bring teams together, set expectations, and support projects from big-picture concepts to small-detail fulfillment. With a strong analytical mind, you feel just as savvy jumping in to fix things in the moment as you do helping create a plan for the future. You have an entrepreneurial spirit and are excited about being a part of a culture that’s more focused on breaking the mold than preserving the hierarchy.
About the Job
The Vice President of Mortgage Operations leads the lending operations teams, partnering closely with the COO, and other leadership members from Sales, Underwriting, Capital Markets, and Servicing. Primarily responsible for developing the strategy to ensure Rain City has the resources and processes in place to achieve its goals in processing, funding, and post-closing activities.
Roles and Responsibilities
Directly supervise the Processing Manager and Funding team.
Understand and implement policies and procedures to comply with state, federal, and local laws regarding all facets of originating business purposes loans.
Implement and ensure the application of internal controls.
Develop, document, and update processes and procedures.
Establish appropriate reporting and monitoring of the loan pipeline and applicable SLAs/KPIs.
Proactively manage loan pipelines in partnership with Sales Directors, Processing Manager and Funding team.
Serve as subject matter expert on loan processing and funding procedures, including requirements for different product types, markets, partners, and systems.
Evaluate and approve or deny loan and process exceptions by understanding the company’s business model, risk tolerance, and note buyer guidelines.
Identify and evaluate recurring obstacles and issues, propose solutions, and implement process changes to increase efficiency, mitigate risk, and streamline decision-making.
Ensure the operations teams deliver the highest quality of service possible to both internal and external partners.
Support cash management efforts by forecasting and communicating funding volume to the Finance & Accounting department on a daily/weekly basis.
Partner with the Capital Market’s loan sale team to identify note buyer exception trends, identify the root cause, implement process improvement, and ensure a process is in place to clear exceptions quickly for loan sales.
Partner with IT to design and lead system enhancements to ensure smooth implementation of changes and user adoption across departments.
Provide leadership for assigned staff, including effective performance management and identification of training needs.
Collaborate with the leadership team to set goals and plan for staffing needs.
Hire, coach, and retain top performers.
Other duties, responsibilities, and activities may change or be assigned at any time with or without notice.
Skills and Attributes
Bachelor’s Degree in Business Administration or relevant work experience
8+ years of mortgage operations management. Strong knowledge of industry products, policies & procedures, underwriting requirements, and compliance requirements.
5+ years experience in Change Management. Proven track record of effectively leading through change.
5+ years of people management experience.
Experience leading multiple departments simultaneously.
Strong knowledge of loan processing, funding/closing, and post closing functions.
Excellent analytical, reasoning, research and creative problem-solving skills.
Outstanding partnership-based communication.
Open-minded individual that embraces change and innovation.
Demonstrated leadership ability, confidence, with the ability to motivate staff and coach team leaders.
Thrive in a fast-paced environment.
Self-Starter
Works well under pressure and relishes the responsibility and opportunity that comes with the job.
Other duties, responsibilities, and activities may change or be assigned at any time with or without notice. The employee in this position must be able to read, write, speak and understand English with exceptional fluency.
Rain City Capital offers a hybrid work environment, which means employees perform their duties remotely or in person and will be expected to check email, phone, and text messages throughout the day and respond in a timely fashion consistent with a normal company workday. This role must be willing to commute to our local office on a weekly basis, at a minimum of once per week, based on the needs of the position, the department, and the company workday.
To apply, please send your resume and cover letter to careers@raincitycapital.com
Posted 05/03/2024