Education Required: Bachelors Degree
Experience Required: 1 - 3 Years
Job ID: 9910
Hours of Work: M - F 8a - 5p
Employment Type: Full-Time Regular
This position serves as a liaison between lending, loan servicing and credit card business units and the Compliance Department. The position is responsible for oversight of regulatory change monitoring, for performing compliance-related research, and for communicating with Compliance management, staff and business units regarding implementation of requirements. The primary duty of the position includes the exercise of discretion and independent judgment with respect to guidance on matters of regulatory compliance, including review of policies, procedures and processes. This position has the authority to formulate, affect, interpret and implement compliance management policies and practices, and supervises and provides training to compliance staff on such policies and procedures.
Responsible for identification of changes in government, regulatory, loan program and other compliance requirements affecting all lending business units, including but not limited to consumer, mortgage and business lending, servicing and credit cards. Performs research as necessary to fully understand the requirements. Assists the business units in understanding and adhering to the requirements. Tracks and documents regulatory change management activities. Documents and monitors policies and procedures and/or other compliance controls. Prepares management reports as needed. Other duties may be assigned.
Monitor, track, research, and summarize proposed and enacted legislation as well as other State, Federal, Regulatory, Agency, Insurer, and Investor guidance.
Maintain copies of current laws, regulations and official commentaries/interpretations of same and stays abreast of regulatory and industry developments relative lending and credit card issuance.
Act in a leadership role in continually training and coaching staff in research, interpretation, review and summary of applicable laws, regulations, and other relevant requirements conferring with Compliance management and/or Legal when appropriate.
Prepare management reports and compliance tracking reports.
Review and analyze loan and credit card originating and servicing operations procedures to determine compliance with laws governing the mortgage servicing industry.
Assist the Loan Compliance Manager with developing, implementing and administering all aspects of comprehensive loan compliance programs and acting as back up to the Loan Compliance Manager when necessary.
Assist the compliance risk assessment and training departments with addressing new, revised and existing loan and credit card laws, regulations and governmental agency guidelines.
Assist various departments outside of Compliance with training and education as it relates to compliance of new, revised, and existing laws, regulations and governmental agency guidelines.
Advise and assist business units with appropriate corrective measures to compliance gaps.
Participate in job-specific training, continuing professional education and other various training programs, as required.
Perform other duties, as assigned.
A self-starting individual who possesses the following:
Bachelor’s Degree in Accounting, Finance, Business, Legal, or other related business degree. A Juris Doctorate is a plus and would supersede the business related undergrad requirement.
2-4 years of compliance experience with working knowledge of banking laws and regulations is preferred. (Mortgage Servicing, Credit Cards, Compliance or Legal related experience highly preferred).
Certified Regulatory Compliance Manager (CRCM) certification is a plus.
Knowledge of state, federal and local loan originating and servicing compliance and regulation is preferred.
Ability to identify and assess compliance risks.
Strong analytical, prioritization, research and organizational skills are necessary to work effectively in a high-pressure environment with time constraints.
Strong problem solving skills.
Demonstrated reasoning and critical thinking skills with the ability to define problems, collect data, establish facts, and draw valid conclusions in order to provide management with the necessary information to make business decisions.
Must possess exceptional computer skills (Microsoft Packages, other platforms and software).
Must possess advanced Microsoft Excel skills.
Maintaining confidentiality and exercising discretion in performing daily duties are required in a professional manner in a deadline-driven environment.
Must have the ability to work on multiple projects simultaneously.
Strong writing and presentational expertise is desired.
Attention to detail is necessary for accurately performing tasks.
Excellent interpersonal and communication skills are necessary for maintaining effective relationships with employees and business unit management.
Position requires the ability to sit for long periods.
Occasional travel may be required.
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.