Mortgage Compliance Officer

SUMMARY

The Mortgage Compliance Officer is a member of the Enterprise Compliance Department and reports directly to the Senior Compliance Operations Manager. The Mortgage Compliance Officer is responsible for working closely with the residential mortgage line of business to provide guidance and oversight regarding applicable federal and state regulatory requirements.

PRIMARY DUTIES AND RESPONSIBILITIES

The Mortgage Compliance Officer is responsible for providing guidance to the residential mortgage origination business unit as the compliance representative and subject matter expert on applicable regulatory requirements. Duties and responsibilities include but are not limited to: 

• Maintaining a proficient level of knowledge of various federal banking laws and regulations related to residential mortgage origination;
• Serving as the Subject Matter Expert on mortgage related regulations;
• Serving as the main source of knowledge for the Enterprise Compliance Department regarding the systems, processes, and controls the mortgage department has in place to mitigate compliance risk;
• Clearly and concisely communicating compliance risks to mortgage management in the normal course of business and through formal reporting;
• Assisting mortgage management in the development of controls, policies, and procedures to mitigate compliance risks identified through various means, including but not limited to internal audits, regulatory exams and internal compliance monitoring reviews;
• Researching compliance issues for mortgage management and providing guidance on applicable requirements;
• Reviewing training materials, prepared by the mortgage department or Corporate Learning, for accuracy prior to use;
• Maintaining the compliance risk assessment by capturing applicable risks and controls for the mortgage business unit, determining the residual risk level, and identifying control gaps or weaknesses;
• Providing compliance oversight and guidance on new products and initiatives within mortgage and serving as a compliance Subject Matter Expert on new product/initiative project teams;
• Providing compliance guidance and participating on project teams responsible for implementing changes to residential mortgage systems;
• Working with the Senior Compliance Operations Manager to identify compliance related issues, performing root cause analysis, and assisting business unit with determining corrective action steps in accordance with the Bank’s Issue Management Program;
• Working with the Senior Compliance Operations Manager to implement applicable regulatory change projects and/or serving as the project’s Subject Matter Expert on new or changed laws and regulations related to residential mortgage activities;
• Attending residential mortgage management meetings, as needed, to cover applicable outstanding issues, regulatory changes or other compliance matters related to the business unit;
• Reviewing Quality Control, Internal/External Audit, and other applicable reports issued in regards to residential mortgage activities, identifying compliance risks, and working with mortgage management to mitigate the risks identified;
• Assisting and providing guidance to the mortgage business unit in the development or updating of first line monitoring efforts as needed;
• Assisting with the gathering of information for regulatory exams or audits for business unit.
• Assisting the Senior Compliance Operations Manager with other duties as assigned.

QUALIFICATIONS

• Comprehensive knowledge of federal and state compliance laws and regulations related to the origination of mortgage loans;
• Strong written and verbal communication skills to communicate effectively with diverse groups and individuals and various levels of management;
• Ability to conduct business in a professional manner;
• Strong organizational, analytical and research skills with attention to detail;
• Strong project management skills and/or continuous improvement mindset;
• Ability to adapt to change and communicate changing requirements to direct reports and business unit management;
• Ability to analyze large amounts of information and data and make informed, quick decisions;
• Excellent multi-tasking skills and ability to function well under pressure and meet deadlines;

EDUCATION AND EXPERIENCE

• Minimum of 10 years’ experience in mortgage compliance
• Management experience preferred
• CRCM certification preferred
• Experience with the Ellie Mae Encompass system is a plus