Mortgage Senior Credit & Product Officer

Overview

FirstBank PR seeks a Mortgage Senior Credit & Product Officer based in San Juan, Puerto Rico. Our team of over 3,100 professionals across Puerto Rico, the Virgin Islands and Florida is dedicated to delivering exceptional, personalized service. If you are passionate about helping customers, building relationships, and providing outstanding service, this is a top destination for your career.

What you’ll do

• Mortgage Underwriting Oversight: supervise all mortgage underwriting operations to ensure accuracy, regulatory compliance, and timely loan decisions. Manage and monitor the loan review pipeline to meet deadlines and service levels.
• Productivity Enhancement: identify and implement process improvements to boost underwriting team productivity and shorten cycle times.
• Risk Analysis and Mitigation: perform thorough risk assessments on mortgage portfolios using financial statements and market data to identify and address emerging risks.
• Product Development: develop and propose new mortgage and Community Reinvestment Act (CRA) products to satisfy market needs and regulatory requirements.
• Sales & Production Team Support: collaborate with the sales and production teams to train team members and realtors, ensuring up-to-date product knowledge and underwriting guidelines.
• Stakeholder Consultation: serve as a subject matter expert, consulting with investors and senior corporate credit officers on complex credit matters and products.
• Credit Policy Management: review, update, and propose changes to credit policies in response to regulatory updates and market trends.
• Default Administration Liaison: work closely with default administration to analyze delinquency trends, address risks proactively, and implement mitigation strategies; oversee the loss mitigation underwriting process.
• Documentation Streamlining: analyze and streamline underwriting documentation requirements to ensure efficiency and compliance without compromising risk controls.
• Regulatory Compliance: act as the primary liaison with internal and external auditors and regulators to ensure underwriting functions adhere to applicable laws and standards.
• Regional Credit Support: manage ECR credit analysis to maintain consistent standards across regions.
• Process Collaboration: partner with sales and production managers to refine processes, remove bottlenecks, and accelerate the loan origination cycle.
• Appraisal and Dispatching Management: oversee the appraisal and dispatching team to ensure all documents required for transactions are received, reviewed, and distributed in a timely manner.
• Clear to Close Supervision: supervise the clear-to-close unit to ensure all loan conditions are fulfilled before transferring files to the closing unit for final numbers and coordination of closing activities.
• Participate in cross-functional projects and committees as assigned.
• Contribute to enterprise-wide risk management initiatives.
• Prepare and present reports for executive leadership and board committees as required.
• Support due diligence for mergers, acquisitions, or new market entries; perform other duties as assigned.
• Facilitate staff development through mentoring and training opportunities.
• Stay informed of industry best practices, regulatory changes, and competitive trends.

What you’ll need to succeed

Formal Education

• Master’s degree in finance, Juris Doctor, Business Economics, or a related field is required.

Certifications

• Certifications in credit risk, mortgage banking, or regulatory compliance are preferred.

Knowledge and Experience

• 3 to 5 years of progressive experience in credit risk management, mortgage underwriting, or product development within a banking institution.
• 3 to 5 years of demonstrated expertise in analyzing complex transactions using financial statements and credit reports.

Equal Employment Opportunity Employer.