Seize the opportunity to be part of Asset & Wealth Management as Underwriting Analyst!
As an Underwriting Analyst within the JPMorgan Private Banking Mortgage business, you will be responsible for conducting Underwriting Analysis to assess Credit Risk on Mortgage applications. You will be part of a team that underwrites loans for Private Banking Clients, ensuring that decisions align with our internal credit policy. Your role will primarily involve handling loans for Private Banking HNW and UHNW clients, a function critical to our mortgage origination business. You may also collaborate directly with Mortgage loan originators, US-based operations groups, and other internal/external partners throughout the Mortgage origination life cycle.
Want more jobs like this?
Get jobs in Bonifacio Global City, Philippines delivered to your inbox every week.
Job Responsibilities:
- Review document & entry of loan information as per current underwriting guidelines into loan system
- Analyze income - Review & validation of US documents such as Paystubs, W2's, Tax Returns, K-1's & others to calculate income as part of Debt-to-Income ratio analysis
- Analyze credit - Review of consumer credit report to determine monthly obligations as part of Debt-to-Income analysis. Review of credit scores, delinquencies, and public records i.e. Judgments liens, Foreclosures, and Bankruptcies to determine credit worthiness of the clients. Review of Credit Report in adherence to FACT ACT & FCRA regulations
- Make Balance Sheet & Financial Analysis - Review & analysis of Personal Financial Statements along with JPM & 3rd party asset statements. Determination of Liquid & Non-Liquid Assets and Liabilities to correctly calculate Liquidity & Leverage ratios
- Coordinate with Mortgage Solutions Team (Front Office) & development of necessary credit information per current underwriting guidelines (Loan Application Development)
- Review credit conditions - Addition of relevant underwriting conditions basis the loan application & ensuring these conditions are cleared on a timely basis
- Partnering with Mortgage Solutions, Mortgage Credit team and other internal teams within mortgage operations to resolve exceptional scenarios and take the loan towards final decision
- Identify credit risks, collateral variances & deviations from standard underwriting guidelines
- Adhere to the 30-day timeline for all credit decisions from Regulation B (ECOA) standpoint.
Required Qualifications, Capabilities and Skills:
- Bachelor's degree preferably in Business, Finance, Accounting, or any related course.
- 2-3 years of mortgage underwriting experience in US mortgage loan originations
- Experience in reviewing and analyzing US Financial Documents such as Asset statements, Personal Financial Statements, Profit & Loss Statements, Personal Tax Returns, Credit Reports, etc.
- Must have exposure to production management, work allocation, prioritization, exception handling, and process documentation.
- Thorough understanding of all stages of mortgage originations life cycle.
- Expertise in Mortgage Underwriting concepts, ratios & calculation methods. Mortgage ratios include Debt to Income, Loan to Value, Liquidity, and Leverage.
- Working knowledge of major US Mortgage Regulations.
- Good MS Excel skills.
Preferred Qualifications, Capabilities and Skills.
- Excellent analytical skills with an attention to detail, quick grasping, and retention of underwriting concepts
- Excellent Communication Skills
- Time Management skills, flexibility & adaptability to changes
- Collaboration and teamwork
- Willingness to work in US, ASIA & EMEA shifts
- Exception Handling & Subject Matter Expertise, challenges status quo.
ABOUT US
JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.
ABOUT THE TEAM
J.P. Morgan Asset & Wealth Management delivers industry-leading investment management and private banking solutions. Asset Management provides individuals, advisors and institutions with strategies and expertise that span the full spectrum of asset classes through our global network of investment professionals. Wealth Management helps individuals, families and foundations take a more intentional approach to their wealth or finances to better define, focus and realize their goals.