LUCRETIA YEONG
Stouffville
Summary
- Proven strong analytical and problem-solving skills with adjudication of complex credits, complaint resolution and assessment of operational process flow to identify and mitigate potential risks.
- Over 20 years of management experience in consumer and commercial lending across various products: credit cards, merchant services, investment loans, RRSP, CSV and mortgages.
- Extensive experience in development and implementation of policies and procedures in credit underwriting, risk management and fraud prevention.
- Successful in starting and establishing new business units: merchant services credit risk management and highline commercial loan units.
Overview
26
26
years of professional experience
Work History
Senior Credit Risk Manager
HomeEquity Bank
08.2024 - Current
- Lead the development, review, and update to the Bank’s mortgage underwriting policy (RMUP) and guidelines (RMUG). Design robust policies with respect to portfolio risk management as well as default and loss management.
- Established the guidelines and conducted the second line independent challenge over the Bank’s credit underwriting to ensure mortgage approvals and quality controls are aligned with the Bank’s risk appetite and OSFI B-20 principles.
- Provided analysis on the result of the second line independent credit challenge in respect to default and loss management.
- Performed critical review/challenge on credit escalations/ underwriting policy exceptions to make well-reasoned recommendations for management consideration and approval.
- Reviewed credit files to recommend alternative ways or mitigants necessary to enable approval of files that should otherwise be declined.
- Maintained open and positive dialogue with different business units and leaders to provide solutions to credit files. Contribute to the development of proactive portfolio management strategies to support the Bank’s overall risk appetite.
Compliance Officer
Wealth One Bank of Canada
02.2023 - 08.2024
- Reviewed and assessed the Bank's operational process flow from application ingestion to servicing and mortgage discharge/account closure so as to identify existing and potential operational risks related to lending and deposit products and work with other business sector to close processing gaps
- Collaborated with different business units to standardize risk metrics and facilitate client risk assessment, case management and portfolio reporting
- Ensured that ongoing monitoring reviews are completed within the timeframe of the risk classification (risk based monitoring)
- Completed suspicious transaction reports for submission to Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
- Developed and delivered periodic Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) training to reinforce the importance of regulatory adherence
- Met with internal and external auditors, respond to audit requests, deliver and work on audit remediation action plan to close audit items
- Designed and outlined system enhancements to support regulatory updates and the Bank's AML/ATF compliance program
- Served as a subject matter expert in relation to regulatory requirements and suspicious transactions/applications
- Prepared the Chief Anti-Money Laundering Officer (CAMLO) reports for quarterly Board reporting
Manager, Credit
Wealth One Bank of Canada
03.2017 - 02.2023
- Established credit operational workflow process to promote productivity and efficiency
- Completed proposals for process and system enhancements to support business growth
- Created the Fraud Policies and Procedures for Residential Mortgages and Life Insurance Cash Surrender Value (CSV) products
- Set up the Fraud/UTR database for monitoring, tracking and reporting purposes
- Created CSV database for workflow tracking, credit underwriting and reporting
- Investigated suspicious transactions of residential mortgage and CSV applications for reporting
- Researched and developed the Foreign Income Underwriting Policies and Procedures for Residential Mortgages
- Liased with vendors to set up the mortgage underwriting platform and electronic submission of mortgage applications
- Created and managed system enhancement projects to ensure the underwriting system and credit processes are aligned with B20 guidelines
- Built and maintained broker relationships through presentations and trade shows
- Established and standardized mortgage approval conditions and templates generate consistency and promote efficiency
- Reviewed, evaluated, set conditions, approved or declined residential mortgages and CSV applications based on authorized lending limits, ensuring compliance with the current legislation and with the policies, programs and procedures
- Trained and mentored new hires for mortgage/CSV underwriting
- Prepared reports for pipeline management and broker/agent performance
- Resolved escalated issues associated with credit decisioning, broker services and credit operations
- Set up Credit Approval Form and process flow for Residential Mortgages and CSV lending to meet audit requirements
- Managed the implementation of a new underwriting system to ensure adherence to audit standards and pipeline reporting requirements
Credit Analyst, Mortgages
B2B Bank
01.2014 - 03.2017
- Conducted credit quality control reviews of approved credit applications for all business lines including residential mortgages, investment loans, and RSP loans to ensure adherence to corporate credit policies and procedures
- Investigated approved files and provide analysis for fraud and credit risk purposes
- Part of project team handling investigations of fraud applications of investment loans and residential mortgages
- Analyzed credit applications and ensures consistent, objective and sound credit decisions in a high-volume environment
- Prepared and updated reports and statistics and submitted recommendations to improve operational efficiency
- Adjudicated mortgage and investment loan applications based on authorized lending limits, ensuring compliance with the current legislation and with the policies, programs and procedures
- Acted as a key resource for resolving any escalated credit issues, replies to internal and external client queries as a subject matter expert, and communicates credit decisions
- Acted as a subject matter expert for Business Development staff regarding investment loan, RRSP and mortgage applications
Credit Risk Manager, Credit Risk Management and Consumer/Commercial Highline Credit
Citibank
01.2001 - 01.2005
- Set up, launched and managed the Commercial and Consumer Credit Risk Department for both Private Label and Merchant Services with both departments passing audit with the highest level of approval
- Developed a Merchant database to support the operational flow of applications, including Credit processing and reporting to meet audit standards and improve portfolio monitoring and risk management capabilities
- Created Credit/Risk MIS reporting and portfolio bad debt accounts ratio and analysis in support of credit policies
- Investigated suspicious transactions based on daily transactional reports
- Formulated and enforced Risk Management processes by building risk monitoring tools and criteria
- Developed and oversaw the Merchant Visa and MasterCard Alliance Competitive Analysis to support marketing strategies and ensure competitive pricings
- Created and implemented credit policies and procedures for Small Business Portfolio, Merchant Services Credit and Highline Credit Risk Management
- Developed and implemented Commercial Credit and Risk Management operational policies and procedures in such areas: customer service, quality control, telesales and project management to ensure operational efficiency and to meet compliance and audit standards
Operations Unit Manager
Citibank Merchant Services
01.1999 - 01.2001
- Managed and provided reporting analysis of special assignments and projects
- Including: Y2K and COB/Disaster Recovery testing, preparation and documentation of departmental workflow process, managing conversion from Visa to MasterCard
- Assessed and implemented procedural and workflow improvements to increase productivity, maintain adequate controls and adhering to Corporate Audit Standards
- Liaised with Security, Chargeback and Financial Control departments for risk management purposes
- Ensured service bureaus, vendor and internal interfaces meet service level, Citibank's Policy and Procedural Requirements to Processing
- Liaised with third party provider to establish Support Payment Solution readiness and general corporate requirements
- Created the Merchant Services Operational Policy and Procedural/Training manual
- Provided relationship support to exceptional high profile/GRB clients
- Planned, coordinated and controlled account related setups for all National Accounts
Skills
- Development of Credit Policies and Guidelines
- Portfolio Management for Fraud Prevention and Risk Management
- Complex Credit Underwriting Review and Second Line Credit Challenge
- Regulatory Compliance and Audit Action Plan Remediation
Education and Professional Development
- 2024 - Completed the global Anti-Money Laundering program and attained the Certified Anti-Money Laundering Specialist (CAMS) designation
- 2006 - 2007 - Seneca College, Market Analysis, Marketing Plan and Strategies and Business Research
- 2004 - Completed courses in Certified Management Accountant (CMA)
- 2002 - Completed management course in Bottom Line Operations Leadership Training and Leading People
- 2000 - Completed the course for People Skills for Performance Management
- 1999 - 2000 - Ryerson University, completed courses in Management, Human Resources, Accounting and Economics
- 1997 - Alliance Française, Advanced Conversational French
- 1995 - Commercial Business College, obtained retail banking diploma
- 1992 - 1995 - University of Alberta, Bachelor of Arts degree, specialization in French Language and Literature with a minor in English
Timeline
Senior Credit Risk Manager
HomeEquity Bank
08.2024 - Current
Compliance Officer
Wealth One Bank of Canada
02.2023 - 08.2024
Manager, Credit
Wealth One Bank of Canada
03.2017 - 02.2023
Credit Analyst, Mortgages
B2B Bank
01.2014 - 03.2017
Credit Risk Manager, Credit Risk Management and Consumer/Commercial Highline Credit
Citibank
01.2001 - 01.2005
Operations Unit Manager
Citibank Merchant Services
01.1999 - 01.2001
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