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LoanCare · 1 week ago

VP, Operational Risk Management- Remote

United States

Contract

Remote

Senior Level, Lead/Staff

$124K/yr - $232K/yr

10+ years exp

LoanCare is a leading full-service mortgage loan subservicer, and they are seeking a Vice President of Operational Risk Management to lead the design and execution of their operational risk framework. This role will ensure operational risks are effectively managed and aligned with regulatory requirements while fostering a strong risk culture within the organization.

Responsibilities

Provide direction and leadership to the Operational Risk Management Department and Program in support of LoanCare’s business objectives and goals

Maintain and evolve the Operational Risk Management Department, including staffing, organizational structure, influence and productivity, to scale risk management capabilities to support LoanCare’s growth and innovation

Maintain the operational risk management framework, policies, procedures, and controls

Manage and update the inventory of operational processes, associated risks, and internal controls

Execute control testing to validate the design and operational effectiveness of internal controls

Lead and ensure execution of the company’s Risk and Control Self-Assessment program and ongoing reporting

Conduct independent operational risk assessments

Establish and monitor Key Risk Indicators (KRIs)

Identify emerging risks and implement proactive mitigation strategies

Perform root cause analysis of operational losses and ensure implementation of corrective actions as appropriate

Develop and maintain detailed operational process flows aligned with written procedures and controls

Collaborate with IT Risk Management and Service Provider Oversight teams to address technology, data, and service provider oversight related risks

Monitor and ensure maintenance of adequate insurance coverage for LoanCare, including periodic reviews and renewals

Monitor and report levels of concentration, counterparty, and model risk

Conduct and report results of physical security audits

Provide executive-level reporting to senior management, risk committee, and board of managers

Foster a strong risk culture across the organization through training and awareness

All other duties as assigned

Qualification

Operational risk managementRisk framework developmentRegulatory compliance knowledgeInternal control designData analyticsRisk control self-assessmentsKey risk indicatorsMortgage regulations knowledgeLeadership skillsCommunication skillsProblem-solving skillsProject management skills

Required

High School Diploma or equivalent

Minimum 10+ years of experience in operational risk management within financial services, with at least 5 years in mortgage servicing or subservicing

Proven leadership experience managing risk programs and cross-functional teams

Proven track record in developing and implementing operational risk frameworks, including risk identification, assessment, mitigation, and monitoring

Experience with risk control self-assessments (RCSA), key risk indicators (KRIs), and loss event data analysis

Strong knowledge of applicable regulatory requirements and investor servicing guidelines

Familiarity with subservicing models, client relationship management, and contractual obligations

Strong understanding of federal and state mortgage regulations, including CFPB, RESPA, TILA, FDCPA, and investor guidelines (Fannie Mae, Freddie Mac, FHA, VA, USDA)

Experience managing compliance with GSE requirements and servicing standards

Expertise in internal control design and testing, policy development, and audit coordination

Familiarity with model risk management

Maintain, evolve as appropriate and execute a control testing program that evaluates both: Control Design Effectiveness (ensuring controls are appropriately designed to meet stated objectives) and Control Operating Effectiveness (validating controls function as intended over time)

Serve as the primary liaison with external SOC 1 auditors to ensure timely and accurate completion of Type II audits, oversee preparation of system descriptions, management assertions, and evidence of control performance

Excellent analytical, problem-solving, and decision-making skills

Excellent verbal and written communication skills

Advanced data analytics and risk modeling

Familiarity with AI/automation in risk monitoring

Ability to leverage technology for operational resilience

Strong communication and presentation abilities for executive audiences

Proficiency in risk management tools and servicing platforms (e.g., MSP)

Ability to multitask, organize, prioritize, and promptly research/resolve issues

Strong quantitative, project management, and resource management skills

Preferred

Bachelor's degree in Business Administration, Finance or related field

Benefits

Optional medical, dental, vision, life, and disability insurance

Paid holidays, vacation, and sick leave

Matching 401(k) plan and employee stock purchase plan

Access to mental health resources, including free Calm memberships, and initiatives that promote physical and emotional well-being

Programs that celebrate achievements and milestones

Enjoy discounts on gym memberships, pet insurance, and employee purchasing programs, plus access to a tuition reimbursement program that supports your continued education and professional growth.