Manager, Residential Underwriting Jobs

Position: Manager, Residential Mortgage Underwriting
Reports To: Director, Underwriting
Company: Magenta Capital Corporation
Supervises: 3-4
Location: Remote
Travels: 0%

About Magenta
Magenta is one of Canada’s largest and most established Canadian Mortgage Investment Companies on the verge of an exciting scale-up. Since 1994, Magenta Capital Corporation has provided flexible mortgage solutions that truly help our borrowers. As a leader in the alternative mortgage lending space, we partner with brokers to solve their client’s short-term credit challenges and facilitate their return to traditional lending channels. Magenta sources, underwrites, and manages a portfolio of mortgages secured by properties located in Ontario.
Most importantly, Magenta is now poised to make a giant leap forward in its corporate evolution as it takes advantage of the generational opportunity in the alternative mortgage market. If you are a dynamic professional with an entrepreneurial spirit that wants to be an integral part of this unique opportunity, then we want to meet you.

A Message from our founder and CEO:

“If you believe that tomorrow matters,
If you and only you can define your tomorrows and write your own unique, epic life story,
If you want to be part of a dynamic team with that shared conviction,
If you want to be part of a great Canadian business success story,
If you want to be an owner and not just an employee,
Then we want to meet you”

~Gavin Marshall~

About your Role
We are bringing on a Manager, Residential Mortgage Underwriting to review and approve new opportunities for our residential portfolio.
We’re looking for an Underwriting Manager with experience working in a fast-growing, entrepreneurial environment. The position requires the ability to make consistent and objective risk assessments as part of a high-volume, deadline-driven team. The Manager will be expected to provide daily leadership, mentoring, training, and guidance to team members, while also managing team operations, productivity, and efficiency. The Underwriting Manager will additionally be expected to maintain and manage their own pipeline of underwritten deals, as well as the pipeline of their direct reports.

What you’ll work on:
- Lead, mentor, and coach all underwriting team staff to develop them according to their personal abilities and development plan, in order to achieve company-set objectives.
- Enable team members to achieve consistent and quality credit decisions while minimizing errors.
- Monitor daily operations of underwriting staff, review pipeline volumes, track backlogs and manage workflow.
- Deal management and providing solutions to our broker clients as well as managing escalations and contacting brokers when needed.
- Maintain an efficient and effective workflow by managing the productivity of the underwriting team, assigning priorities, reviewing quality standards, and ensuring quality standards are met - Create and maintain various reports which will assist with the management of the team’s daily workflow and individual staff performance. Use the data obtained from reporting to motivate, mentor, support and lead the team.
- Communicate with team members effectively to ensure company objectives and goals and fully understood and achieved.
- Maintaining an ongoing personal underwriting pipeline and assisting with underwriting when deal volumes dictate. Includes recommending applications for approval and issuing mortgage commitments.
- Adjudicating mortgage applications and approvals against internally defined criteria.
- Working with our broker partners to ensure accuracy and completeness of applications.
- Ensuring compliance with privacy, anti-money laundering, anti-terrorist financing and anti-fraud policies.
- Facilitating the handoff of committed files to the Fulfilment and Funding Team and consistently and effectively working in collaboration with those teams to bring files to a close.
- Supporting management by collaborating to support the development of new products and services, while actively identifying improvements to existing offerings.
- Collaborating with your team and management in supporting the continuous improvement and development of process, workflows, and procedures for the Underwriting department.

What you should have:
- 5+ years experience in the mortgage industry; ideally alternative lending
- 2+ years experience in mortgage underwriting; ideally alternative lending
- 1+ year of management experience
- Strong leadership, mentoring and coaching skills
- Established organizational skills with the ability to multitask when necessary
- Meticulous attention to detail
- Autonomously able to make decisions under pressure, in an efficient and sound manner
- Ability to easily balance risk with potential returns
- Strong interpersonal and communication skills given the need to optimally manage key relationships with our mortgage broker partners
- Committed to providing superb customer service
- Experience applying corporate guidelines and policies to your everyday work
- Accredited Mortgage Professional (AMP) designation an asset
- Ability to work autonomously and collaboratively
- Proficiency with the Microsoft Office suite of products

What we offer you:
- The opportunity to be a key contributor to our unfolding success story
- The opportunity to think outside the box – every day
- Magenta’s Employee Share Purchase Plan (“ESPP”)
- Compensation commensurate with experience and qualifications

If you are committed to tomorrow, please send your resume to [email protected].

While we thank all candidates who apply, only those who best match the above criteria will be contacted.

We are committed to an inclusive, barrier free recruitment and selection process, and work environment in accordance with the Accessibility for Ontarians with Disabilities Act (AODA). We will be happy to assist applicants requesting accommodation at any stage of the hiring process.