VP of Risk (Mortgage Lending, Non-QM)

Description

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.

Requirements

• 10+ years of experience in mortgage lending, risk management, or related field.
• 5+ years of leadership experience in risk, credit, or compliance.
• Strong knowledge of mortgage operations, underwriting, and regulatory requirements.
• Experience with Agency, Non-QM, and/or portfolio lending products.
• Proven ability to develop and implement risk frameworks and controls.
• Strong analytical, strategic thinking, and decision-making skills.
• Experience with LOS systems (e.g., Encompass) and risk/analytics tools.
• Enterprise risk management experience (credit, operational, and compliance risk).
• Experience working with capital markets and secondary teams.

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.