VP of Risk (Mortgage Lending, Non-QM)

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 Vice President of Risk is responsible for overseeing the organization’s enterprise risk management framework within the business. This role encompasses credit risk, operational risk, compliance risk, and overall risk strategy to ensure the company operates within its defined risk appetite while supporting sustainable growth.

Key Responsibilities

• Develop and implement a comprehensive risk management framework across credit, operational, and compliance functions.
• Define and maintain the organization’s risk appetite in alignment with business objectives.
• Partner with underwriting leadership to ensure sound credit decisioning and adherence to guidelines.
• Evaluate high-risk loan scenarios and provide risk-based recommendations.
• Identify, assess, and mitigate risks across loan origination, processing, underwriting, and servicing functions.
• Implement controls to minimize operational losses and inefficiencies.
• Ensure adherence to federal, state, and investor regulations (e.g., Agency, Non-QM guidelines).
• Lead risk-related audits and regulatory examinations; address findings and implement corrective actions.
• Establish KPIs, KRIs, and dashboards to monitor risk exposure and performance.
• Provide regular reporting and insights to executive leadership and stakeholders.
• Analyze loan performance trends, delinquency rates, and default risks.
• Recommend strategies to mitigate losses and improve portfolio health.
• Work closely with Capital Markets, Secondary, Compliance, and Operations to balance risk with production goals.
• Support new product development by assessing risk implications.
• Strengthen internal controls and oversee quality control processes.
• Promote a culture of risk awareness and accountability across the organization.
• Mentor staff and drive continuous improvement in risk practices.