City National Bank · 12 hours ago
Supervisor Post-Closing Quality Control
Phoenix, AZ
Full-time
Onsite
Mid, Senior Level
$111K/yr - $190K/yr
7+ years expCity National Bank is a subsidiary of Royal Bank of Canada, focusing on providing exceptional financial services. The Supervisor Post-Closing Quality Control role is responsible for ensuring compliance with post-closing quality control activities, managing defect risks, and collaborating with various teams to enhance quality and compliance in mortgage lending processes.
BankingFinanceFinancial Services
Responsibilities
Own and continuously enhance the organization’s written Post-Closing QC Plan per Fannie Mae Selling Guide D2-1 requirements, including defect taxonomy, severity levels, sampling methodology, target defect rates (as low as reasonably achievable), and timelines for reviews and reporting
Oversee monthly loan selection using random sampling (minimum 10% of production or statistically valid equivalent) and discretionary/targeted sampling for high-risk loans (e.g., early payment defaults, high DTI ratios, low credit scores, recent policy changes, fraud indicators, or third-party originations)
Manage full post-closing QC reviews covering credit, capacity, collateral, compliance, and legal documents, ensuring the entire QC cycle (selection, review, management rebuttal, final findings, and reporting) is completed within 90 days of loan closing or securitization
Direct reverifications of borrower data (e.g., employment, income, assets, occupancy, sources of funds) via independent third-party sources to detect material misrepresentations, fraud, or changes, while tracking trends and success rates for process improvements
Perform or oversee appraisal and collateral reviews using Fannie Mae tools like Collateral Underwriter (CU) and Form 1033, integrating findings into defect assessments to evaluate property valuation risks
Monitor third-party originations (TPOs) through stratified sampling, separate reporting by channel (e.g., broker vs. correspondent), and annual reviews to align with internal standards and Fannie Mae guidelines
Establish and track key metrics, including gross/net defect rates, defect trends by category/severity, and financial impacts (e.g., repurchase exposure), with quarterly evaluations and annual plan adjustments
Generate tailored QC reports: executive summaries for senior management (trends, risks, action plans), scorecards for departments, and detailed feedback for staff to support performance enhancements
Lead root cause analyses for defects and trends, developing corrective action plans with stakeholders, timelines, and validation through retesting
Manage vendor relationships for outsourced post-closing QC, including monthly reviews of at least 10% of vendor work for accuracy and compliance, while maintaining full accountability
Conduct independent audits of the QC function to ensure unbiased, consistent adherence to policies, with remediation for findings
Facilitate self-reporting of ineligible loans via Fannie Mae's Loan Quality Connect (LQC) within 30 days of defect confirmation, including documentation
Integrate fraud detection and risk assessments using Fannie Mae tools such as Desktop Underwriter (DU) findings, Quality Insider for defect insights, and Ask Poli for policy research, alongside outside vendor tools like ACES Quality Management or LoanLogics for automated reviews and analytics
Ensure retention of QC records (reports, findings, audits) for at least three years, accessible for Fannie Mae or regulatory examinations
Promote quality culture through training, calibration sessions for defect consistency, and linking QC outcomes to KPIs, compensation, and goals
Qualification
Required
Bachelor's degree in Finance, Business Administration, or related field; advanced certifications (e.g., Certified Mortgage Banker) preferred
7-10 years in mortgage lending quality control, with 3-5 years in management, focused on post-closing processes
Preferred
Deep knowledge of Fannie Mae's Selling Guide (Part D) and Beyond the Guide, including post-closing QC plans, sampling, reverifications, reporting, and corrective actions
Expertise in mortgage origination, regulatory compliance, and risk management across retail and TPO channels
Strong analytical skills for defect taxonomy, root cause analysis, trending, and modeling quality risks
Proficiency in QC tools, including Fannie Mae's Loan Quality Connect (LQC), Collateral Underwriter (CU), Desktop Underwriter (DU), Quality Insider, and Ask Poli; experience with vendor tools such as ACES Quality Management, LoanLogics, MetaSource QC software, or equivalent for automated auditing, reporting, and analytics
Leadership and communication skills to influence teams and present to executives
Ability to manage vendors, audits, and improvements in a dynamic environment
Benefits
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
Company
City National Bank
City National Bank offers a full complement of banking, trust and investment services. It is a sub-organization of City National.
1001-5000 employees
H1B Sponsorship
City National Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (76)
2024 (78)
2023 (145)
2022 (93)
2021 (107)
2020 (62)
Funding
Current Stage
Public CompanyTotal Funding
unknown1978-01-13IPO
Leadership Team
Howard Hammond
CEO City National Bank
Fiyaz Khan
Senior Vice President, Structured Products
Recent News
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