Specialist, Problem Loans & Appraisal - RFA Bank of Canada
Toronto, Ontario, Canada
Full Time
2 days ago
Key skills
AnalyticsRisk ManagementCommunicationTime Management
About this role
Specialist, Problem Loan and Appraisal – RFA Bank of Canada
Date: March 12, 2026
Location: Toronto
Company: RFA Bank of Canada
Job Type: Permanent
Closing Date: April 3, 2026
About RFA
Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm. Through RFA Bank of Canada and RFA Mortgage Corporation, RFA offers mortgage brokers a complete range of Prime and Alternative mortgage solutions.
RFA Bank of Canada, a division of RFA (Realty Financial Advisors), is a federally regulated Schedule I Bank. Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Bank of Canada, we focus on delivering a unique value proposition in the Alternative mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs.
The Opportunity
We’re looking to fill a position at RFA Bank of Canada!
The Problem Loan and Appraisal Specialist, Credit Risk Management is responsible for the management, resolution, and risk oversight of non-performing and higher risk single family residential mortgages. This Second Line of Defense role ensures that practices for problem loans and collateral valuation are effective, aligned with the organization’s risk appetite and regulatory requirements and is critical in mitigating credit risk. The ideal candidate will have a strong background in default mortgage management, risk management, and appraisals.
Core Responsibilities
As the Specialist, Problem Loans and Appraisal, you will:
Problem Loan and Credit Risk Management:
• Lead the identification, assessment, and ongoing management of problem loans including vulnerable borrowers, delinquent, impaired and workout exposures for residential mortgage loans ensuring timely escalation and resolution strategies
• Oversee and challenge the Servicer’s activities related to loan workouts, restructuring, and forbearance strategies to ensure alignment with risk appetite, policy and regulatory requirements.
• Develop and monitor key portfolio trends, emerging risks and concentrations within problem loan exposures as well as collateral valuation trends.
• Ensure timely revaluations of collateral for higher risk exposures and when material changes in borrower risk or market conditions occur.
• Apply provisioning methodologies to determine Stage 3 expected credit loss (ECL), ensuring accuracy and consistency.
• Facilitate transparent communication with Servicers to ensure they present options that enable the Bank to make well informed decisions.
• Document key decisions, actions taken, challenges, and recommendations for audit and regulatory purposes.
• Analyze and recommend a decision on actions from Servicers for non-performing files.
Collateral/Appraisal Review and Monitoring:
• Establish and maintain standards for the commissioning, review, and acceptance of appraisals, ensuring independence, competency, and adherence to internal policy and applicable professional standards.
• Review exception residential appraisal assumptions, methodologies, and conclusions for reasonableness, consistency, and alignment with market conditions, particularly in stressed or distressed scenarios.
• Oversee appraisal management processes to ensure compliance with internal policies and regulatory standards.
• Monitor the Banks approved appraiser lists to ensure appraisal firms and the appraisers within the firm are in good standing with the AIC
• PIN Monitoring
Risk Monitoring, Analysis & Reporting:
• Monitor early risk indicators for timely identification of deteriorating credit quality.
• Perform portfolio trend analysis on problem loans migration to identify concentrations, valuation volatility and other elevated risks.
• Validate assumptions used in stress testing and scenario analysis for high-risk exposures.
• Identify emerging risks and propose proactive monitoring strategies.
• Ensure accurate, timely, and transparent reporting of problem loan metrics, collateral coverage, and valuation risks to senior management.
• Contribute to a culture of continuous improvement and professional development
Policy & Framework Compliance:
• Ensure adherence to credit risk management frameworks, appraisal standards, and enterprise risk policies and regulatory requirements including Guideline B-20
• Identify process gaps, control weaknesses, and opportunities for improvement, and lead or support remediation initiatives.
• Recommend enhancements to relevant policies and procedures based on observed gaps or regulatory developments.
• Escalate material risk concerns and recommend mitigating actions.
• Support internal audits, regulatory reviews, and enterprise risk assessments with accurate documentation and analysis.
What You’ll Need to Succeed
• Bachelor’s degree in finance, Business Administration, Risk Management, or a related field or equivalent work experience.
• 7+ years of experience in residential mortgage credit risk, special loans, problem loan management, preferably uninsured within a regulated financial institution.
• Strong knowledge of residential mortgage products and risk drivers, collateral valuation methodologies, and regulatory requirements including Guideline B-20
• Working knowledge of enforcement and recovery processes, including power of sale
• Excellent written and verbal communication skills for preparing reports and presenting to senior committees.
• Hands-on-experience reviewing residential appraisals and collateral valuations is an asset.
What Sets You Apart
• Knowledge of risk analytics, stress testing, and portfolio monitoring.
• Excellent analytical, problem-solving, and decision-making skills.
• Possess effective organizational and time management skills
• Sound judgement and clear communication and interpersonal skills.
• Strong attention to detail and control mindset
Our Values and What We Offer at RFA
At RFA, we live by our core values. These values guide our daily actions and shape our work culture:
• Accountability: You take ownership of your work & its consequences. You always consider risk & make informed decisions.
• Selflessness: You share info & teach others. You’re able to put your ego aside & understand that the best idea wins.
• Inclusivity: You value differing viewpoints & experiences. You understand how this can drive growth & innovation.
• Innovation: You seek opportunity & embrace change. You see tech as a way to enhance productivity & drive profitability.
• Courage: You make tough decisions in our best interest. You see opportunity when faced with challenge or adversity.
• Impact: You value results & your contributions. You rise to the occasion and never settle for sub-par.
• Performance: You embody a competitive spirit, desire to win and strive for executional excellence.
Along with a strong work culture, RFA offers a comprehensive benefits package, including:
• Health & Dental Care
• Vision Care
• RRSP Match
• Health & Wellness Spend
• Vacation & Personal Days
• Hybrid working environment
Ready to take the next step?
If this opportunity excites you and aligns with your skills and aspirations, we’d love to hear about how you can contribute to our team at RFA.
Accessibility
Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.
Date: March 12, 2026
Location: Toronto
Company: RFA Bank of Canada
Job Type: Permanent
Closing Date: April 3, 2026
About RFA
Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm. Through RFA Bank of Canada and RFA Mortgage Corporation, RFA offers mortgage brokers a complete range of Prime and Alternative mortgage solutions.
RFA Bank of Canada, a division of RFA (Realty Financial Advisors), is a federally regulated Schedule I Bank. Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Bank of Canada, we focus on delivering a unique value proposition in the Alternative mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs.
The Opportunity
We’re looking to fill a position at RFA Bank of Canada!
The Problem Loan and Appraisal Specialist, Credit Risk Management is responsible for the management, resolution, and risk oversight of non-performing and higher risk single family residential mortgages. This Second Line of Defense role ensures that practices for problem loans and collateral valuation are effective, aligned with the organization’s risk appetite and regulatory requirements and is critical in mitigating credit risk. The ideal candidate will have a strong background in default mortgage management, risk management, and appraisals.
Core Responsibilities
As the Specialist, Problem Loans and Appraisal, you will:
Problem Loan and Credit Risk Management:
• Lead the identification, assessment, and ongoing management of problem loans including vulnerable borrowers, delinquent, impaired and workout exposures for residential mortgage loans ensuring timely escalation and resolution strategies
• Oversee and challenge the Servicer’s activities related to loan workouts, restructuring, and forbearance strategies to ensure alignment with risk appetite, policy and regulatory requirements.
• Develop and monitor key portfolio trends, emerging risks and concentrations within problem loan exposures as well as collateral valuation trends.
• Ensure timely revaluations of collateral for higher risk exposures and when material changes in borrower risk or market conditions occur.
• Apply provisioning methodologies to determine Stage 3 expected credit loss (ECL), ensuring accuracy and consistency.
• Facilitate transparent communication with Servicers to ensure they present options that enable the Bank to make well informed decisions.
• Document key decisions, actions taken, challenges, and recommendations for audit and regulatory purposes.
• Analyze and recommend a decision on actions from Servicers for non-performing files.
Collateral/Appraisal Review and Monitoring:
• Establish and maintain standards for the commissioning, review, and acceptance of appraisals, ensuring independence, competency, and adherence to internal policy and applicable professional standards.
• Review exception residential appraisal assumptions, methodologies, and conclusions for reasonableness, consistency, and alignment with market conditions, particularly in stressed or distressed scenarios.
• Oversee appraisal management processes to ensure compliance with internal policies and regulatory standards.
• Monitor the Banks approved appraiser lists to ensure appraisal firms and the appraisers within the firm are in good standing with the AIC
• PIN Monitoring
Risk Monitoring, Analysis & Reporting:
• Monitor early risk indicators for timely identification of deteriorating credit quality.
• Perform portfolio trend analysis on problem loans migration to identify concentrations, valuation volatility and other elevated risks.
• Validate assumptions used in stress testing and scenario analysis for high-risk exposures.
• Identify emerging risks and propose proactive monitoring strategies.
• Ensure accurate, timely, and transparent reporting of problem loan metrics, collateral coverage, and valuation risks to senior management.
• Contribute to a culture of continuous improvement and professional development
Policy & Framework Compliance:
• Ensure adherence to credit risk management frameworks, appraisal standards, and enterprise risk policies and regulatory requirements including Guideline B-20
• Identify process gaps, control weaknesses, and opportunities for improvement, and lead or support remediation initiatives.
• Recommend enhancements to relevant policies and procedures based on observed gaps or regulatory developments.
• Escalate material risk concerns and recommend mitigating actions.
• Support internal audits, regulatory reviews, and enterprise risk assessments with accurate documentation and analysis.
What You’ll Need to Succeed
• Bachelor’s degree in finance, Business Administration, Risk Management, or a related field or equivalent work experience.
• 7+ years of experience in residential mortgage credit risk, special loans, problem loan management, preferably uninsured within a regulated financial institution.
• Strong knowledge of residential mortgage products and risk drivers, collateral valuation methodologies, and regulatory requirements including Guideline B-20
• Working knowledge of enforcement and recovery processes, including power of sale
• Excellent written and verbal communication skills for preparing reports and presenting to senior committees.
• Hands-on-experience reviewing residential appraisals and collateral valuations is an asset.
What Sets You Apart
• Knowledge of risk analytics, stress testing, and portfolio monitoring.
• Excellent analytical, problem-solving, and decision-making skills.
• Possess effective organizational and time management skills
• Sound judgement and clear communication and interpersonal skills.
• Strong attention to detail and control mindset
Our Values and What We Offer at RFA
At RFA, we live by our core values. These values guide our daily actions and shape our work culture:
• Accountability: You take ownership of your work & its consequences. You always consider risk & make informed decisions.
• Selflessness: You share info & teach others. You’re able to put your ego aside & understand that the best idea wins.
• Inclusivity: You value differing viewpoints & experiences. You understand how this can drive growth & innovation.
• Innovation: You seek opportunity & embrace change. You see tech as a way to enhance productivity & drive profitability.
• Courage: You make tough decisions in our best interest. You see opportunity when faced with challenge or adversity.
• Impact: You value results & your contributions. You rise to the occasion and never settle for sub-par.
• Performance: You embody a competitive spirit, desire to win and strive for executional excellence.
Along with a strong work culture, RFA offers a comprehensive benefits package, including:
• Health & Dental Care
• Vision Care
• RRSP Match
• Health & Wellness Spend
• Vacation & Personal Days
• Hybrid working environment
Ready to take the next step?
If this opportunity excites you and aligns with your skills and aspirations, we’d love to hear about how you can contribute to our team at RFA.
Accessibility
Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.