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Compliance Manager

n/a, n/a
Compliance Manager
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
  1. Direct and manage Compliance and Quality Control team members to provide internal compliance support and to ensure adherence to all agency Quality Control requirements.
    1. Provide training and assistance to all department personnel to encourage performance improvement and developmental opportunities.
    2. Conduct annual reviews.
  2. Contract and maintain relationship with third-party Quality Control provider to ensure the accuracy and timeliness of monthly reviews.
  3. Manage internal Quality Control process
    1. Coordinate development of the monthly QC audit results report summarizing audit findings, trends, and defects.
    2. 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.
    3. Communicate with responsible personnel and ensure follow up of action plans identified in the review.
    4. Identify areas of concern and create questions to be used in our monthly Targeted Review.
    5. Ensure the final monthly report is submitted to Senior Management in the time frame required by the agencies.
  4. 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.
    1. Implement and maintain the Anti Money Laundering program
    2. Create training material for all areas of compliance and assign to affected employees on an on-going basis.
    3. Ensure required annual training (BSA, Fair Lending, etc.) is assigned and completed within the mandated time frames.
    4. Ensure training results are tracked and that all required training is completed.
  5. Serve as BSA officer and coordinate SAR reporting.
    1. Conduct loan level analyses of issues contained in SAR’s that are received.
    2. Present findings to management for reporting determination.
    3. Write the summary of facts and submit SAR reports as necessary.
  6. Serve as Complaint Liaison
    1. Research all complaints received from borrowers to determine if any regulatory violations are present and take appropriate action.
    2. Respond to complaints, as necessary.
    3. Maintain a spreadsheet of complaints to include resolutions.
    4. Research all borrower survey responses received and prepare written response, as necessary.
  7. Develop and maintain Quality Control Procedure manual
    1. Update Quality Control manual as necessary to comply with updated agency guidelines.
    2. Train department staff on all agency requirements and notify them as guidelines change.
    3. Create training material to be distributed to affected employees, as necessary.
  8. Oversee repurchase demand responses and finalize the rebuttal letter in coordination with the Quality Control Manager and VP of Underwriting.
  9. Monitor Federal and State regulatory changes and ensure all affected personnel are informed.
  10. Oversee federal agency, state, and investor audits and prepare the final response to findings.
  11. Oversight of HMDA data accuracy and transmission of annual HMDA report
  12. Oversight of Fair Lending Compliance
    1. Prepare monthly and weekly Fair Lending monitoring report.
    2. Coordinate annual third-party regression analysis and review of HMDA data points related to fair lending.
    3. Complete analysis of reports returned by third party vendor to determine any areas of concern.
  13. Attend conference and education opportunities to remain current with industry events.
  14. Oversee the Compliance Help Desk email group to ensure all internal questions submitted are answered accurately and timely.
  1. Create and maintain procedures for all essential job functions.
  2. Other duties as assigned.
  1. Advanced reading, writing, and arithmetic skills required. This is normally acquired through a high school diploma, applicable college level coursework and related experience.
  2. 5 years or more of mortgage experience in the areas of: quality monitoring/assurance, underwriting and state/agency compliance.
  3. Strong analytical, creative problem solving, and negotiation skills.
  4. Ability to effectively interact with all levels of senior management, federal agencies, and state regulators.
  5. Excellent interpersonal skills and a proven ability to work effectively in a fast-paced team environment.
  6. 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.
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