Principal Risk Specialist - Underwriting QA
The Principal Risk Specialis role provides a high level of exposure across the Small Business Banking line of business and provides an opportunity to implement innovative quality assurance and control processes designed to proactively identify, evaluate, and mitigate potential operational risks associated with underwriting practices. The Principal Risk Specialist will be a critical member of the Quality Assurance Team for Small Business Bank Credit Operations. The Principal Risk Specialist will own and execute controls for a segment of the end-to-end lending process
Key Responsibilities:
- Conduct reviews and testing procedures to determine compliance with Underwriting policies, procedures, and controls on new loan requests, renewals, annual reviews, interim reviews, modifications, and WAC reviews
- Communicate review findings to appropriate parties and recommend corrective action plans to control defects’ occurrence
- Analyze trends, identify control gaps, and recommend routine and non-routine solutions for process changes
- Complete process steps to adequately document QA Review performed and to support conclusions reached
- Corrective action - Identify and track events and issues to mitigate risk to Capital One. Coordinate with applicable business areas to define/ implement remediation activities
- Carry out duties in compliance with all state and federal regulations and guidelines
- Champion and enhance organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives
- Ensure that Quality Assurance practices, policies and procedures are updated in a timely manner, maintained online, and reviewed periodically to ensure applicability, accuracy and relevance
- Ensure completion of monthly production requirements within SLA’s
- Risk Consulting to one or more Business Areas relative to their business lines and provide advice and guidance as required
- Is proactive about identifying and delivering improvements in our Small Business credit policy, underwriting, and/or risk management, and performs special project work as appropriate.
- Contributes to department training
Qualities of a Successful Candidate:
- Judgement: You will exercise sound, independent judgment to prioritize issues, make critical operational decisions, and determine the appropriate course of action, ensuring compliance and business continuity in a complex, fast-paced environment.
- Communication: You will be communicating and partnering with your team, auditors, and key stakeholders across all levels of the company. Excellent verbal and written communication, capable of articulating complex risks and gaining buy-in for mitigation strategies will be critical to your day to day work life.
- Risk Management: You should recognize red flags or patterns that could signal elevated risk and understand when exceptions are reasonable vs. when they introduce unnecessary exposure.
- Intellectual Curiosity: You ask why, exploring underlying issues, and creating unique solutions to challenges. You should find motivation in understanding why problems exist and how to solve them in a fast paced, live operational environment.
Basic Qualifications:
- High School diploma, GED or equivalent certification
- At least 3 years of experience in credit administration, loan underwriting, credit review, small business lending, commercial lending, or a combination.
- At least 1 year of experience with Microsoft Office or Google Suite
Preferred Qualifications:
- Bachelors Degree or military experience
- Completion of a formal Credit Training or Credit Underwriting Program
- 5+ years of Financial Services Risk Management Experience
- 5+ years experience in Quality Assurance or Internal Audit
At this time, Capital One will not sponsor a new applicant for employment authorization for this position.
The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.
Plano, TX: $109,900 - $125,400 for Principal Risk Specialist
Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.
This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
This role is expected to accept applications for a minimum of 5 business days.
No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.
If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at RecruitingAccommodation@capitalone.com. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
For technical support or questions about Capital One's recruiting process, please send an email to Careers@capitalone.com
Capital One does not provide, endorse nor guarantee and is not liable for third-party products, services, educational tools or other information available through this site.
Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).