Nihar Nayak

Experience

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  XL Dynamics India Pvt. Ltd.

  Jan 2011 - Apr 2024

  ✔ As a Process Architect I am leading a team (team size-10) of SMEs who works on process development aspect of complete loan origination process and LOS implementation.✔ Acting as a liaison between the IT (Software Developers) team and the business to ensure that the solutions are designed and implemented in line with the business requirements✔ Responsible for designing, streamlining and change control of processes through checklists, SOPs and other process documents, preparing, and handling Change Request Forms (CRFs) for system changes, manage the process change control.✔ Run workshops with business stakeholders to understand the end-to-end process while identifying any automation blockers and the suitability of the process for automation.✔ Communicate with the client to understand and gather the basic loan related requirements and accurately introduce and document the technical and functional aspects in the loan processing and cascading the same to the team.✔ Prepared business requirement document (BRD), functional specification document (FSD) and performing risk analysis activities for functional and non-functional requirements.✔ Tracking progress of tasks and projects, through project management system (JIRA).✔ Writing and updating credit risk policy, operation risk policy and compliance guideline based on regulatory bodies and Government agencies. ✔ In-depth experience and understanding of the US residential mortgage loans Loan Life Cycle and its regulations by working on Loan Management System (LMS), Loan Origination System (LOS) and monitoring risk assessments policies such as credit risk, operational risk, etc.✔ KPI monitoring (Error per loan, underwriting approval time, application to closing time, number conditions on a loan)✔ Management Escalation: Performing the root cause analysis to identify any process changes and fixing the gaps. Informing all the stakeholders with the measures taken to avoid the similar instances. Show less ✔ As A Subject Matter Expert, I was responsible for Error analysis of the whole team (Team size of 120)✔ Worked on government agency deficiency, investor exceptions on loans. ✔ Required to update the process, checklist, calculators, SOPS, Guidelines based on root cause analysis of team errors, deficiency from government agencies, investors.✔ Work with developers and Process Architect, if there is any need of system changes or upgrade to reduce human dependency eventually reduce the errors.✔ Responsible for cross training of credit risk analysts in different loan products. Show less ✔ Appreciated the post of team lead, leading team of 20 Associate credit risk analysts. ✔ Training and Development of the Team Members along with monitoring the productivity of the Team members, maintaining lender Guidelines, implementation of Agency updates and knowledge base update.✔ Reviewed day-to-day operations and enhancing the operational effectiveness by doing individual desk reviews to evaluate team is meeting the TATs set for the respective tasks and that they meet the SLAs set.✔ Query resolution✔ Performance analysis of team members.✔ Handling training of new entrants in the team and cross training of existing members in different loan programs and products. Show less Credit appraisal of mortgage loans under various agency guidelines such as Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and Fannie Mae (Conventional) etc.✔Determining the approval of the loan application based on the various risk assessment criteria such as:o Credit Profile of borrower (Repayment Pattern, FICO, Credit history)o Repayment ability based on source of income (Capacity, employment stability)o Compliance requirements (Agency/Investor Guidelines)o Assets (Minimum Cash Contribution)o Acceptable Collateral (Appraisal report of Collateral) Show less

  • Business Prcocess Architect(LSSGB, CSM)

    Nov 2018 - Apr 2024

  • Subject Matter Expert (Implementation)

    Jan 2016 - Nov 2018

  • Team Lead (Credit Risk Analysis)

    Jan 2013 - Dec 2015

  • Associate Analyst (Credit Risk Analysis)

    Jan 2011 - Dec 2012
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  OPX America

  May 2024 - now

  Senior Manager (Operations)