Responsible for oversight and review of the compliance environment of the mortgage lending activities of the Credit Union. Evaluates federal, state and Investor requirements, changes to those requirements and emerging compliance trends related to mortgage lending. Works with mortgage process owners to develop policies and procedures to ensure compliance with applicable requirements. Works with mortgage department trainers to design compliance-related training curriculum and training updates. Works with mortgage area systems administrators to design and implement a compliance monitoring and reporting system.
Works closely with the Credit Union Compliance Department to ensure that mortgage compliance activities and interpretations are applied consistently where there is overlap with other functional areas within the Credit Union. Supervises reviews and tests of compliance related activities to ensure that mortgage lending practices are compliant and that they are functioning as intended. Reports results of monitoring, reviews and tests to appropriate mortgage leadership and the credit union compliance department on a periodic basis. Acts as liaison to internal and external auditors and examiners to provide and interpret data, reports and other requested information. Follows up on examination and audit findings to ensure timely and appropriate mitigation efforts.
Acts as a resource to mortgage leadership and staff to obtain answers to compliance related questions. Interfaces with corporate compliance resources and legal counsel to seek clarifications to compliance related questions or concerns. Assists Sr. Management and mortgage leadership in identifying potential compliance risk areas and implementing appropriate controls to mitigate those risks.
Stays informed regarding any changes in Federal, State and Investor regulations affecting the management, operations, and products of the Mortgage Lending Area.
Insures distribution of materials concerning recent developments and changes related to regulation staff responsible for implementing changes in their areas of responsibility.
Assists with examining mortgage lending policies, procedures and practices to determine compliance with laws and regulations affecting the mortgage lending area.
Insure that all Mortgage Lending policies and procedures are reviewed on an annual basis or as needed.
Assists in writing new policies and procedures for evolving regulatory changes.
Reviewing, coordinating and training all written mortgage procedures with trainers and/or Mortgage Staff
Monitor and insure that all required regulatory training is completed according to schedule and
Interface with credit union attorneys for legal guidance and opinions concerning new regulations and their effect on our lending model
Works with teams and individuals in the development of new products and services to insure regulatory compliance.
Serve as a resource to Mortgage staff for regulatory issues and instruction.
- 10 years of Mortgage Lending experience in a variety of functions desired.
- 5 years of Mortgage Underwriting experience preferred.
- 2 to 3 years of experience in a Mortgage Audit or Quality Control capacity preferred.
- A Bachelor’s degree in Business, Finance, or Accounting may substitute for up to 3 years of industry experience.
* General knowledge of mortgage loan services and procedures.
* Knowledge of Mortgage Loan programs and processing.
* Understanding of Secondary Market (how LLPA’s impact pricing, and how to lock an interest rate.)
* A thorough working knowledge of Federal, State, Investor and Industry regulations.
* A thorough understanding of AFCU policy and AFCU Mortgage data systems.
* A level of expertise in Mortgage Underwriting.
* A working knowledge of Excel, Word, and PowerPoint
* Excellent written and verbal communication skills.
* Ability to work effectively independently and in a team environment
* Ability to identify and resolve problems.
* Strong organizational skills.
* Attention to detail and accuracy.
* A collaborative approach to decision making.
* Strong organizational abilities.
* Able to multi-task.
* Willingness and ability to motivate and lead others.
* Able to use all related computer and business applications.
* Flexible and able to adapt to new procedures.
* Self-directed and able to work with minimal direction.
* Ability to identify process gaps and recommend solutions.
* Analytical and mathematical ability
* Professional appearance, dress and attitude.
* Proficient typing abilities
* Ability to cooperate and work well with others.
* Able to operate related computer applications.
* Organizational and “Follow-Up” skills.
* Leadership skills and experience.