Job Title: Compliance Manager Department: Quality Assurance
Status: Full Time Reports to: Chief Operating Officer
Exempt Status: Exempt Last Revision Date: 1/12/21
Responsible for oversight of all Regulatory Compliance and Quality Control activities
- Direct and manage Compliance and Quality Control team members to provide internal compliance support and to ensure adherence to all agency Quality Control requirements.
- Provide training and assistance to all department personnel to encourage performance improvement and developmental opportunities.
- Conduct annual reviews.
- Contract and maintain relationship with third-party Quality Control provider to ensure the accuracy and timeliness of monthly reviews.
- Manage internal Quality Control process
- Coordinate development of the monthly QC audit results report summarizing audit findings, trends, and defects.
- Review reports for accuracy and discuss findings with the Chief Operating Officer to identify significant defects and/or trends, determine the root cause of errors and develop action plans.
- Communicate with responsible personnel and ensure follow up of action plans identified in the review.
- Identify areas of concern and create questions to be used in our monthly Targeted Review.
- Ensure the final monthly report is submitted to Senior Management in the time frame required by the agencies.
- Write and maintain policies and procedures for all Federal and State Compliance regulations including but not limited to: Complaints, BSA/Anti-Money Laundering, Advertising, RESPA, TILA, etc.
- Implement and maintain the Anti Money Laundering program
- Create training material for all areas of compliance and assign to affected employees on an on-going basis.
- Ensure required annual training (BSA, Fair Lending, etc.) is assigned and completed within the mandated time frames.
- Ensure training results are tracked and that all required training is completed.
- Serve as BSA officer and coordinate SAR reporting.
- Conduct loan level analyses of issues contained in SAR’s that are received.
- Present findings to management for reporting determination.
- Write the summary of facts and submit SAR reports as necessary.
- Serve as Complaint Liaison
- Research all complaints received from borrowers to determine if any regulatory violations are present and take appropriate action.
- Respond to complaints, as necessary.
- Maintain a spreadsheet of complaints to include resolutions.
- Research all borrower survey responses received and prepare written response, as necessary.
- Develop and maintain Quality Control Procedure manual
- Update Quality Control manual as necessary to comply with updated agency guidelines.
- Train department staff on all agency requirements and notify them as guidelines change.
- Create training material to be distributed to affected employees, as necessary.
- Oversee repurchase demand responses and finalize the rebuttal letter in coordination with the Quality Control Manager and VP of Underwriting.
- Monitor Federal and State regulatory changes and ensure all affected personnel are informed.
- Oversee federal agency, state, and investor audits and prepare the final response to findings.
- Oversight of HMDA data accuracy and transmission of annual HMDA report
- Oversight of Fair Lending Compliance
- Prepare monthly and weekly Fair Lending monitoring report.
- Coordinate annual third-party regression analysis and review of HMDA data points related to fair lending.
- Complete analysis of reports returned by third party vendor to determine any areas of concern.
- Attend conference and education opportunities to remain current with industry events.
- Oversee the Compliance Help Desk email group to ensure all internal questions submitted are answered accurately and timely.
KNOWLEDGE AND SKILL REQUIREMENT
- Create and maintain procedures for all essential job functions.
- Other duties as assigned.
- Advanced reading, writing, and arithmetic skills required. This is normally acquired through a high school diploma, applicable college level coursework and related experience.
- 5 years or more of mortgage experience in the areas of: quality monitoring/assurance, underwriting and state/agency compliance.
- Strong analytical, creative problem solving, and negotiation skills.
- Ability to effectively interact with all levels of senior management, federal agencies, and state regulators.
- Excellent interpersonal skills and a proven ability to work effectively in a fast-paced team environment.
- Working knowledge of Mortgage Banking related State and Federal Regulations including RESPA, TILA, HVCC, MDIA, SAFE, etc.
Position may work remotely.
Prolong periods sitting at a desk and working on a computer and telephone.
Working conditions are normal for an office environment if not remote.