Credit Risk Policy Manager

CAKE Mortgage is a cutting-edge wholesale mortgage lender specializing in Non-QM products. We're redefining the lending experience with innovative programs, streamlined processes, and a commitment to speed and precision. As we grow, we're looking for forward-thinking professionals who thrive in fast-paced, collaborative environments.

The Credit Risk Policy Manager is responsible for the development, governance, research, and data-driven optimization of mortgage credit risk policies to support safe, sound, and compliant lending. This role combines deep policy expertise with credit risk analytics to evaluate portfolio performance, identify emerging risks, and recommend evidence-based policy enhancements that align with the organization’s risk appetite and business strategy.

Key Responsibilities

• Own and maintain enterprise mortgage credit policies, underwriting standards, and credit overlays.
• Interpret and implement agency, investor, and insurer guidelines (Non-QM, FNMA, FHLMC, FHA, and VA).
• Ensure credit policies align with enterprise risk appetite, product strategy, and regulatory expectations.
• Manage policy governance processes including version control, approvals, documentation, and change management.
• Conduct quantitative and qualitative analysis of loan performance, defect trends, early payment defaults (EPDs), repurchases, and credit losses.
• Analyze portfolio, pipeline, and vintage-level data to identify emerging credit risks and policy gaps.
• Partner with Analytics, Data Science, and Finance teams to develop dashboards, KPIs, and risk monitoring tools.
• Perform impact analysis for proposed policy changes, new products, and credit overlays.
• Use internal data, investor feedback, QC findings, and market trends to support policy recommendations.
• Support stress testing, scenario analysis, and risk segmentation efforts as they relate to underwriting policy.
• Monitor credit risk indicators and escalate material risks to leadership and risk committees.
• Partner with Quality Control, Compliance, Legal, and Audit teams to address findings and drive remediation.
• Support internal audits, regulatory exams, and investor reviews related to credit policy and underwriting risk.
• Review and approve credit policy exceptions, variances, and escalations as assigned. 

• Bachelor’s degree in Finance, Economics, Business, Risk Management, Data Analytics, or related field (or equivalent experience).
• 5+ years of experience in mortgage credit risk, credit policy, underwriting policy, credit analytics, or risk governance.
• Strong knowledge of agency and government loan programs (Non-QM, Conventional, FHA, VA, USDA).
• Demonstrated  experience using data to inform credit policy or risk decisions.
• Advanced analytical and problem-solving skills.
• Excellent written and verbal communication skills with the ability to translate data into actionable guidance.

Why Join CAKE Mortgage?

• Be part of a fast-growing company changing the game in Non-QM
• Competitive compensation and performance-based bonuses
• Collaborative and entrepreneurial culture
• Opportunities for career advancement and innovation

Cake Mortgage does not tolerate discrimination of any type. Cake Mortgage offers equal employment opportunity to all qualified persons without regard to race, age, color, religion, sex/gender, gender identity, sexual orientation, marital status, medical condition, military or veteran status, national origin, ancestry, disability, or any other considerations made unlawful by Federal, State, or Local law. Cake Mortgage provides eligible and qualified employees with opportunities to advance. Cake Mortgage is an at will employer. Cake Mortgage is committed to providing employees with a work environment free of discrimination and harassment.