Language Skill Levels (Read/Write/Speak):
$74852.60 to $93565.75
Permanent Full Time
We’re not your typical government agency
Canada Mortgage and Housing Corporation (CMHC) exists for a single reason: to make housing affordable for everyone in Canada. We’re mobilizing the expertise and energy of governments, non-profits, lenders, developers, social entrepreneurs and co-ops to create the future of housing. At CMHC, we believe that everyone in Canada should have a place to call home.
Experience a Results-Only Work Environment™ (ROWE™)
At CMHC, we trust you to get the job done. We’ve shifted from managing people to managing work. Each employee is 100% autonomous and 100% accountable. You can choose where you need to be and when you need to be there to meet your objectives. You’re in control of your time and are trusted to make the right decisions.
This position reports to the Securitization Operations team in our Client Operations sector. In this sector, we make delivering housing affordability solutions easy.
About the role
We’re constantly evolving to build an inclusive housing system through research, design, innovation and partnerships. The incumbent carries out and oversees the National Housing Act Mortgage-Backed Securities (NHA MBS) pooling process, administers all outstanding securitization pools and ensures the NHA MBS Program is administered in a manner consistent with government regulations and program policies. Provides guidance to internal and external stakeholders and resolves complex issues of non-compliance within program guidelines. He will help us make housing affordable for everyone in Canada.
What you will need
Undergraduate degree in business administration, economics, finance, commerce or a related discipline.
Post-graduate degree and/or accreditation in the securities/investment industry would be considered an asset.
Minimum of five years of related work experience.
Excellent communication and interpersonal skills with the ability to be an effective team player, to obtain and share information and to liaise with a range of management, staff and professionals.
Strong understanding of CMHC's securitization programs and associated processes.
In-depth knowledge of mortgage securitization.
Very good knowledge of mortgage loan underwriting and default management practices/procedures.
Excellent organizational and time management skills.
Demonstrated ability to take initiative and work effectively without close supervision.
Professional accounting designation would be an asset.
What you will be doing
Analysis and Processing
Approves requests from issuers to issue NHA MBS in accordance with policies, guidelines and delegated authorities.
Ensures all requirements are met with respect to mortgage eligibility and pool criteria, and ensures all documentation has been received by CMHC and/or external service provider(s), as applicable.
Analyzes and resolves complex cases of mortgage ineligibility, makes recommendations and negotiates with both internal and external stakeholders to determine if any action can be taken to support the inclusion of the loan in the MBS pool.
Ensures issuer monthly accounting reports reviewed by program officers are compliant with program guidelines; takes action where appropriate.
Oversees and monitors operational compliance matters, working closely with issuers, service providers and CMHC staff to resolve issues related to the administration of new and existing pools.
Advice, Guidance and Oversight
Provides expert functional advice and guidance to program participants, service providers and internal stakeholders.
Ensures deadlines and requirements are met in respect of NHA MBS pools created and administered by issuers, as well as in connection with annual documentation submitted by issuers, escalating and/or recommending actions as necessary.
Assists in communicating changes in products and policies to team members.
Provides guidance and oversees transfers of responsibility involving issuers and other parties under the program, ensuring compliance with program requirements.
Monitors issuers and service providers to identify matters of non-compliance, investigating as appropriate and recommending applicable actions to the Manager, Securitization Operations.
Ensures business processes are documented and identifies opportunities for improvement.
Research, Development and Reporting
Assists the Manager, Securitization Operations in the completion of ad hoc projects and resolution of operational issues in support of CMHC's objectives.
Identifies deficiencies in operational processes and the MBS system, working with IT and other internal stakeholders to address them.
Participates as a subject matter expert in compliance projects and internal and external audits.
Builds and maintains positive relationships and partnerships with program participants, service providers and key stakeholders such as the Mortgage-Backed Securities Issuer Association (MBSIA).
Promotes CMHC's securitization programs to lenders, the investor community and general public.
Does this sound like you?
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Posting closing date:
January 12, 2020 @ 11:59 pm EST (Note, the competition may remain active until filled).
Job Requisition ID:
Ottawa or Montreal
Travel not required
We sincerely thank all candidates for their interest, however, please note that only those applicants selected for further consideration will be contacted.
CMHC is an employer that values diversity and encourages the learning and use of both Canada's official languages. CMHC is committed to employment equity and actively encourages application from women, Indigenous people, persons with disabilities and visible minorities
- If selected for an interview or testing, please advise us if you require an accommodation.