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Mortgage Risk Manager Jobs in Massachusetts (NOW HIRING)

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Mortgage Risk Manager information

What does a mortgage risk manager do?

A Mortgage Risk Manager is responsible for identifying, assessing, and mitigating risks associated with mortgage lending within a financial institution. They analyze credit, market, and operational risks to ensure loans are compliant with regulations and company policies. Their role includes developing risk assessment models, monitoring loan portfolios, and implementing strategies to reduce potential losses. Additionally, they often collaborate with underwriters, compliance teams, and senior management to maintain the financial health of the mortgage business.

What are the key skills and qualifications needed to thrive as a mortgage risk manager?

To thrive as a Mortgage Risk Manager, you need a solid background in finance, risk assessment, and regulatory compliance, often supported by a degree in finance or a related field. Familiarity with risk modeling software, loan origination systems, and certifications such as FRM or CFA are commonly required. Analytical thinking, attention to detail, and strong communication help you excel at evaluating loan portfolios and collaborating with cross-functional teams. These skills ensure prudent risk management, regulatory adherence, and the financial stability of mortgage lending operations.

What are some common challenges faced by mortgage risk managers, and how can they be addressed?

Mortgage Risk Managers often encounter challenges such as assessing the creditworthiness of borrowers in a fluctuating market, keeping up with evolving regulatory requirements, and mitigating risks associated with loan defaults. To address these, professionals need to stay updated on industry regulations, leverage advanced data analytics tools, and work closely with underwriting and compliance teams. Proactive communication and ongoing training are also essential to navigate changes and ensure robust risk management practices.

What is the difference between Mortgage Risk Manager vs Mortgage Underwriter?

AspectMortgage Risk ManagerMortgage Underwriter
Primary RoleAssess and manage overall mortgage risk, develop risk policiesEvaluate individual loan applications for approval
Required CredentialsTypically requires risk management certifications, finance or related degreesOften requires mortgage licensing, underwriting certifications
Work EnvironmentCorporate offices, risk departments, financial institutionsLoan processing centers, banks, mortgage companies
Industry UsageUsed by lenders to mitigate risk at a strategic levelUsed by lenders to approve or deny individual loans

The Mortgage Risk Manager focuses on assessing and managing the overall risk profile of mortgage portfolios, developing policies to mitigate potential losses. In contrast, the Mortgage Underwriter evaluates individual loan applications to determine approval eligibility. While both roles require financial knowledge and relevant certifications, their scope and responsibilities differ significantly, with the Risk Manager working at a strategic level and the Underwriter at an operational level.

What are popular job titles related to Mortgage Risk Manager jobs in Massachusetts?

For Mortgage Risk Manager jobs in Massachusetts, the most frequently searched job titles are:

What job categories do people searching Mortgage Risk Manager jobs in Massachusetts look for?

The top searched job categories for Mortgage Risk Manager jobs in Massachusetts are:

What cities in Massachusetts are hiring for Mortgage Risk Manager jobs?

Cities in Massachusetts with the most Mortgage Risk Manager job openings:

Mortgage Risk Manager jobs near you

Financial Center Manager - Cohasset Financial Center - Cohasset, MA

Bank of America

Cohasset, MA • On-site

$70 - $90/hr

Other

Re-posted 21 days ago

Bank Of America rating

8.2

Company rating: 8.2 out of 10

Based on 530 frontline employees who took The Breakroom Quiz

50th of 171 rated banks

Job description

Responsibilities
  • Develops talent, including proactive sourcing of candidates
  • Manages client traffic, engaging and appropriately routing clients and fostering client retention
  • Manages business results through formalized management routines and coaching
  • Creates a world class client experience environment
  • Manages market-level initiative prescribed by market leaders
  • Drives operational excellence by engaging employees on business strategy
  • Manages organizational priorities and effective execution
  • May also have responsibilities for managing associates
Managerial Responsibilities
  • Diversity & Inclusion: Model an inclusive environment for employees and clients, aligned to company D&I goals.
  • Manager of Process & Data: Demonstrate deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement.
  • Enterprise Advocate: Communicate enterprise decisions, purpose and results, and connect to team strategy, priorities and contributions.
  • Risk Manager: Ensure proper risk discipline, controls and culture are in place to identify, elevate and debate issues.
  • People Manager & Coach: Provide inspection, coaching and feedback to motivate, differentiate and improve performance.
  • Financial Steward: Actively manage expenses and budgets in alignment with objectives, making sound financial decisions.
  • Enterprise Talent Leader: Assess talent and build bench strength for roles across the organization.
  • Driver of Business Outcomes: Deliver results by effectively prioritizing, inspecting and appropriately delegating team work.
Required Skills
  • Is an enthusiastic, highly motivated self-starter with a strong work ethic and intense focus on results, acting in the best interest of the client.
  • Collaborates effectively to get things done, building and nurturing strong relationships.
  • Displays passion, commitment and drive to deliver an experience that improves our clients’ financial lives.
  • Has 3+ years’ of demonstrated experience building, leading, managing and coaching a team.
  • Is confident in identifying solutions for clients based on their needs and can resolve problems independently or bring in others as needed.
  • Communicates effectively and confidently, and is comfortable engaging all clients.
  • Has the ability to learn and adapt to new information and technology platforms.
  • Applies strong critical thinking and problem‑solving skills to meet clients’ needs.
  • Will follow established processes and guidelines in daily activities to do what is right for clients and the bank, adhering to all applicable laws and regulations.
  • Efficiently manages your time and capacity.
  • Can manage complexity, prioritize tasks, delegate and execute in a fast‑paced environment.
  • Can interpret performance results, find opportunities to drive success and hold others accountable to results.
  • Can be flexible to work weekends and/or extended hours as needed.
Desired Skills
  • Experience in financial services and knowledge of financial services industry, products and solutions.
  • Experience in mortgage, retail or hospitality.
  • Experience working in an environment with individual and team goals where goals were routinely met or exceeded.
  • Bilingual skills.
Skills Used in this Role
  • Coaching
  • Customer Focus
  • Decision Making
  • Establishing Trust
  • Influencing
  • Learning Agility
  • Demonstrating Technology
  • Overcoming Objections
  • Performance Management
  • Risk Management
  • Time Management
  • Sales Management
  • Consumer Products and Solutions
  • Cash Management
  • Multitasking

Shift: 1st shift (United States of America) Hours Per Week: 40

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

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About Bank Of America

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At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

Charlotte, NC, US

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