Business Accountability Associate - Home Loan Underwriting

Wells Fargo

16d ago

Applications are closed

Job
Full-time
Entry & Junior Level
Business, Operations & Strategy
Banking & Finance
Chennai
Remote

Requirements

Required Qualifications:
6+ months of risk management, business controls, quality assurance, business operations, compliance, or process experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
US residential mortgage processing and underwriting experience with experience in income calculation, credit and assets review
Working knowledge on Agency / Conventional loan Underwriting for primary residence (Purchase and Refinance)
Graduate in commerce/finance/management stream
Basic Microsoft Office skills
Excellent verbal, written, and interpersonal communication skills
Strong analytical skills with high attention to detail and accuracy
Ability to take initiative and drive for results with minimal supervision
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex fast paced environment

Responsibilities

Participate in and provide support for low-complexity matters pertaining to the business' policy and regulatory adherence, risk mitigation, or control efforts
Research, review, document, and present findings related to issues, records, policies, and procedures for which answers can be quickly obtained
Receive direction from supervisors and exercise judgment within defined parameters while developing understanding of function, policies, procedures, records, and other business information
Collaborate and consult with peers, colleagues, and managers to implement actions in support of risk-mitigation and control initiatives
Perform in-depth review of mortgage loan file including Credit, Capacity, Capital and Collateral documents
Detailed review of Credit related documents such as Credit Report from Experian/Transunion/Equifax, Credit Supplements, Mortgage Statement, and Letter of Explanation etc.
Detailed review of Capacity related documents such as Paystub, W2, VOE, Award letters and Bank Statements etc.
Detailed review of Capital related documents such as Bank Statements, Gift letter, Stocks and Bonds etc.
Detailed review of Collateral related documents such as Property Appraisal Report, Flood Report, and Purchase Agreement etc.
Recommend borrower's eligibility in accordance with internal policies and procedures, agency guidelines and overlays utilizing Automated Underwriting System (AUS)
Ability to identify potential red flags relating to customer information, income, assets, property, all parties to the transaction, etc.
Analyze risks and offsets related to performing in-depth, prefund loan reviews. Present recommendations for resolving various issues related to reviews and loan files
Utilize current knowledge of credit policy guidelines and procedures, use available tools and resources to recommend credit decision
Ability to clearly document the loan rationale findings in loan notes
Review stipulations/conditions for compliance and completion of loan file specific to the borrower profile, loan program and product
Receive direction from more experienced managers and exercise judgment on relevant reviews within rules and regulations while developing an understanding of internal company requirements
Provide communication regarding overall process and transaction quality to appropriate parties
Research, review, document, and present findings related to issues, records, policies, and procedures for which answers can be quickly obtained
Receive direction from supervisors and exercise judgment within defined parameters while developing understanding of function, policies, procedures, records, and other business information
Collaborate and consult with peers, colleagues, and managers to implement actions in support of risk-mitigation and control initiatives

FAQs

What is the primary focus of the Business Accountability Associate role?

The primary focus of the Business Accountability Associate role is to provide support for low-complexity matters related to policy adherence, risk mitigation, and control efforts in Home Loan Underwriting.

What experience is required for this position?

A minimum of 6 months of experience in risk management, business controls, quality assurance, business operations, compliance, or process experience is required. This can also be demonstrated through a combination of work experience, training, military experience, or education.

Is experience in mortgage processing and underwriting preferred?

Yes, US residential mortgage processing and underwriting experience, particularly in income calculation, credit, and asset review, is desired.

What technical skills are preferred for this role?

Basic Microsoft Office skills are preferred for this role, along with strong analytical skills, attention to detail, and the ability to prioritize work effectively.

What shifts are required for this position?

The candidate must be willing to work US hours typically between 6:30 PM to 3:30 AM Indian Standard Time for the initial 6 months, and 1:30 PM to 10:30 PM Indian Standard Time after that.

What responsibilities does the role entail?

Responsibilities include performing in-depth reviews of mortgage loan files, analyzing loan documents, recommending borrower eligibility, identifying red flags, and collaborating with colleagues on risk-mitigation initiatives.

How does Wells Fargo value diversity in hiring?

Wells Fargo is committed to diversity, equity, and inclusion in the workplace and welcomes applications from all qualified candidates, regardless of race, gender, national origin, or any other protected status.

Are accommodations available for applicants with disabilities?

Yes, accommodations for applicants with disabilities are available upon request during the recruitment process.

What is the drug and alcohol policy at Wells Fargo?

Wells Fargo maintains a drug-free workplace, and candidates should refer to the Drug and Alcohol Policy for more details.

What qualifications are desirable but not mandatory?

Desired qualifications include knowledge of agency/conventional loan underwriting, a degree in commerce/finance/management, and excellent verbal, written, and interpersonal communication skills.

Wells Fargo

Finance

Industry

10,001+

Employees

1929

Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.