Job Description

SUMMARY

Under the general supervision of the SVP Lending, the Compliance QC Specialist is responsible for performing a variety of duties, which may include but is not limited to compliance with federal and state laws and regulations, development, and maintenance with an emphasis on real estate practices.

ESSENTIAL FUNCTIONS

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The following statements are intended to describe the general nature and level of work being performed by this position. It is not intended to be an exhaustive list of all functions, responsibilities, and skills required of this position. Other duties may be assigned to meet business needs.

Directly responsible for auditing pre-funding mortgage loan files to measure the performance against legal and regulatory requirements as well as investor and internal policies.

Submits post-funding mortgage loans to our external vendor along with follow up with returned audit reports and results.

With guidance and assistance from management, aids in determining whether there is any significant origination or collateral issues that would qualify as material defects and could result in violation of any regulatory, compliance or operational requirements.

Reviews files based on investor and Credit Union guidelines. Focuses on income calculations, asset verification, loan data integrity, appraisal, title, credit reports and closing documents to ensure decisions made and documents requested conform to investor and/or Credit Union guidelines.

Manages delivery of QC files to third party QC vendor. Monitors and reviews reports from and with third party QC vendor. Prepares monthly funding sheets to QC External Vendor for selection of external QC. Reviews and submits files to QC External Vendor Review and acts where needed for reports returned from Vendor.

Ensures compliance requirements are met by reviewing file documentation including disclosures, re-disclosure notices, intent to apply, adverse action, etc.

Develops and maintains a comprehensive prefunding quality control (QC) review process that conforms to secondary market and investor requirements.

Performs quality control on mortgage and consumer loan files for compliance with established Credit Union policies and procedures.
Tests procedures to determine adequacy and adherence to guidelines by Real Estate and Consumer Loan Department employees.

Reviews monthly branch certifications for adherence to procedures and reports findings to management.

Completes verification of deposits from audit firms and other lenders.

Assists employees in answering inquiries regarding regulatory and procedural processes and performs all duties relating to BSA, OFAC, AML, and CIP compliance.

Investigates potential fraud or misrepresentations by using resources such as the internet and internal bank records.

Keeps current with industry changes to ensure accurate auditing of loan files.

Provides regular reporting to management on the results of file reviews and other auditing activities.

Recommends training to prevent and correct loan quality deficiencies based on identified weaknesses to management, and periodically train employees on compliance topics and new compliance procedures.

Assembles complete investor loan packages when requested.

Attends various webinars and training classes for knowledge enhancement.

Develops assessment techniques of examining, questioning, evaluating and reporting, and develops and maintains record retention policies and procedures.

Performs duties as assigned by management and may be assigned to work at any location.

QUALIFICATIONS

The requirements listed below are representative of the knowledge, skill, and/or ability required.

Education and Experience
Knowledge of branch operational activities and industry-related federal and state laws and regulations as would normally be acquired from five years of increasingly responsible related experience within a financial institution.

Certificates, Licenses and Registrations
Successful completion of BSA Compliance School.
BSA Compliance Specialist certification.

Knowledge
Background in all aspects of credit union laws and regulations, department functions, policies and procedures. Credit Union products, services, programs, and promotions.
MS Office Suite (Word, PowerPoint, Excel) required, as is auditing software needed to effectively perform job.

Other Skills and Abilities
Operates a variety of office equipment and machines.
Ability to travel, attend, and participate in meetings, seminars, and conferences held before and after normal business hours that may require unaccompanied long-distance travel and overnight lodging.