Cardinal Financial

Who We Are:

Cardinal Financial is a nationwide direct mortgage lender that focuses on creating solutions for our borrowers, partners, and employees—to provide the very best experience. We are genuine and hard-working individuals who are not scared to improve and intentionally push beyond what is considered “good enough”

Looking to join a growing company that values its people, innovates and expands on its proprietary technology? Apply below!

Who We Need: 

The Director of Counterparty Risk is an experienced management-level role responsible for overseeing the entire vendor lifecycle, including vetting, selection, and management of vendors and third-party originators (TPOs). This position focuses on optimizing vendor relationships and contracts to achieve cost savings, ensuring compliance with legal and regulatory standards, and maintaining the Vendor Management software systems. The Director serves as the primary point of contact for all vendor communications and is pivotal in upholding the integrity and efficiency of the vendor management process in alignment with company policies.

What You Will Do:

• Lead strategic negotiations with vendors to secure cost-effective agreements, focusing on substantial cost savings and optimal service delivery. Serve as the primary point of contact for all vendor/TPO communications.
• Oversee the entire process from vetting new vendors/TPOs to managing ongoing relationships. Perform thorough risk assessments for new vendors/TPOs to ensure compliance and reliability.
• Develop, write, and maintain comprehensive Counterparty Risk/Vendor Management policies and procedures. Ensure these documents are up-to-date and reflective of current laws and best practices.
• Conduct regular vendor/TPO audits as required by regulatory bodies such as the CFPB and state regulators. Ensure all vendor practices meet stringent compliance standards.
• Identify renewal dates for existing vendor/TPO contracts and negotiate renewals to secure favorable terms before expiration. Utilize strategic insights to maintain advantageous contractual relationships.
• Manage and report all vendor/TPO escalations to the Credit Risk Committee. Implement robust mechanisms for risk assessment and escalation resolution to maintain vendor relations and mitigate risks.
• Oversee the Vendor Management software to ensure all data regarding vendors/TPOs is accurate, secure, and effectively supports operational needs.
• Lead a team of counterparty risk/vendor management specialists and analysts. Provide mentorship and development to build a high-performing team focused on achieving strategic objectives and operational excellence.

What You Need:

• Bachelor’s or master’s degree in Business Administration, Finance, or a related field.
• Minimum of 10 years of experience in vendor management, including at least 5 years in a leadership role within the industry.
• Experience with Venminder, Lexis, Comergence or similar products is preferred.
• Demonstrated ability to effectively negotiate contracts and manage complex vendor relationships.
• Extensive knowledge of regulatory requirements affecting vendor management, including experiences with CFPB and state regulations.
• Strong leadership capabilities with a proven track record in strategic planning and team development.
• Excellent interpersonal and communication skills, capable of managing diverse teams and negotiating with various stakeholders.

What We Offer:

• Strength, Stability, and Vision
• Great compensation package
• Opportunity for career growth
• A commitment to be a relevant market leader - we are aiming for the top!
• Octane, our engineered proprietary technology that is transforming the mortgage industry
• An empowered culture where your ideas are important and your voice matters
• Full Benefits, beginning the first day of the month following your start date, including – Medical, Dental, Vision, Life, Disability Insurance, and much more
• Generous paid time off package that also includes all major holidays
• 401K w/ 50% match - Beginning the 1st of the month following 30 days of employment

Cardinal Financial is an Equal Opportunity Employer. We respect and aim to empower individuals and support the diverse cultures, perspectives, skills, and experiences within our workforce. California residents click here to review Cardinal's California Employee Privacy Policy & Notice at Collection. The expected base salary for this position ranges from one hundred nineteen thousand dollars to one hundred fifty-five thousand dollars, determined based on the applicant's experience, skillset, education, training, certificates, and licenses.