Funding Validation Officer - Automotive Finance

Job title: Funding Validation Officer - Automotive Finance

About the Role The Funding Validation Officer contributes to the overall success of the Dealer Centre of Excellence in Canada by ensuring the verification and validation of information in approved indirect loan and lease agreements and related documents before funds are released to automotive dealerships. The role ensures compliance with governing regulations and internal policies and supports the team’s business strategies and objectives.

What You'll Do

• Perform all verification activities related to approved Indirect Loans and Leases received for funding by completing the Contract Message Screen with necessary changes and accepting details as per the documents provided.
• Verify loan and lease documentation to Contract Message to ensure all documents are included in the funding package from the dealer (application, Bill of Sale, pay stubs or other proof of income, insurance documents etc).
• Attach documents on the Validation Screen to each tab as required and add additional documents if necessary (e.g., Proof of Residency, Alternate Payor Form, Proof of Downpayment).
• Ensure that any required Lending documents are sent to Lending to review prior to validating and funding the deal as per stip. (e.g., Proof of income/ Corporate Search).
• Verify vehicle insurance coverage and residence as required by the Indirect Retail Lending Policy Bulletin.
• Verify the validity and accuracy of Retail Credit Agreement or Retail Lease Agreement in all respects including verifying the collateral description in documents back to the Bill of Sale.
• Ensure all lease documents are within Bank guidelines and meet the Bank’s contractual obligations to the Residual Value Insurer, including verifying the validity and accuracy of all financial components that impact amortization.
• Request documentation from dealerships to obtain guarantees to cover higher residual values (in excess of insurer-approved residual values) which usually arise from customer/dealer disputes or dealership staff errors.
• Ensure that all lease-end values are within Bank and/or Residual Value Insurer guidelines.
• Verifying Insurance documentation as per policy; Escalating variances that are outside Bank and/or Residual Value Insurer guidelines to the dealer and/or Funding Manager or Retail Lending with recommendations for rectification and/or approval prior to funding as needed.

What We're Looking For

• Experience in verification of indirect loans and leases and related funding processes.
• Strong understanding of lending policies, regulatory requirements, and internal controls.
• High attention to detail and accuracy in document review and data entry.
• Ability to coordinate with dealerships and internal teams (Lending, Retail Lending, Funding) to resolve issues and obtain required documents.
• Analytical mindset with ability to assess financial components affecting amortization and residual values.
• Effective communication and escalation skills for variances and approvals.

Nice to Have

• Experience in automotive finance or banking operations.
• Familiarity with Residual Value Insurer guidelines and related compliance considerations.

Compensation & Benefits Salary and benefits information not provided in the posting.