The Manager, Mortgage Compliance with our client provides compliance support related to federal, state laws and regulations. The role provides essential compliance services for originations, including but not limited to, regulatory interpretation and implementation assistance, loan testing and quality control, and related management reporting.
Essential Duties and Responsibilities:
Confirms that adequate Compliance policies and procedures exist regarding Compliance laws related to loan originations, operating procedures, and company visibility.
Manages a team of Compliance Specialists who collectively provide expert guidance to internal lines of business.
Effectively communicates reporting compliance requirements and manage reporting deadlines.
Ensure assigned business units are operating efficiently and reliably, are in compliance with applicable laws, regulations, and rules, have appropriate operating controls to mitigate risk, and are performing at a high level.
Administers client's licensing activities to ensure that Loan Officers have met all state-specific requirements to originate and/or service loans in the jurisdictions in which the client does business.
Confirms that to the extent systems are relied upon to automate compliance, they are working properly (testing).
Implements any required changes of law related to loan origination processes.
Performs reviews of all marketing pieces for the company to identify any Compliance implications.
Work with Human Resources to confirm that job-specific training includes required Compliance elements.
Responsible for confirming that through some combination of QA, First Line of Defense and Compliance, adequate review is conducted to confirm that policies and procedures related to Compliance are being followed.
Assists with implementation of Bank Secrecy Act / Anti-Money Laundering Program. Duties may include but are not limited to development of an annual risk assessment, delivery of staff training and reviewing potentially suspicious activity to determine whether a SAR should be filed.
Reviews complaints that are regulatory in nature to determine any required remediation and/or changes to internal processes and procedures necessary to mitigate future risk. Communicates resolution of complaints as necessary to the appropriate regulatory/supervisory agency.
If errors are found, work with business units to determine root cause of compliance issues and to resolve them, through modified procedures, training, systems or disciplinary actions.
Keep Senior Management fully apprised of status of projects and challenges to timely implementation.
Knowledge in all areas of mortgage compliance, careful attention to detail, and the ability to interpret state and federal regulations and has a strong familiarity with standard industry practices.
Background in mortgage originations or related fields required.
Proficiency in working with MS Access, Excel, and Microsoft SQL to produce reports, financial models and business cases is a must.
Minimum of 5 years experience in financial/mortgage industry with an emphasis in financial institution compliance or audit.
Proven ability to organize and manage special projects may be required.
Knowledge of LOS systems is desirable.
Minimum of 5 years prior management experience within mortgage originations preferred.
Project management and presentation experience is desirable.
Experience with data analysis and data tracking and trending is desirable.
A bachelor’s degree in a legal and/or business discipline is preferred.
Critical Success Factors:
Decision-making: make independent decisions daily, addressing the best way to handle specific tasks.
Communication and collaboration: work with other departments and team members, as well as management.
Organizational skills: keep yourself and others organized and how to determine which tasks are the most important.
Writing: must be proficient in a variety of styles, from creative to professional to technical to education and more.
Data analysis: data from both internal and external sources must be analyzed to make decisions and recommendations concerning the strength and improvement of processes.
Multitasking skills: responsibility for several concurrent projects and dealing with internal and external clients to balance competing priorities.
Flexible: Able to adjust to a fast-paced sales-oriented organization.
Confident: Able to and comfortable with pushing back when necessary.