Senior Loan Compliance Associate

Position Summary

The Senior Loan Compliance Associate is responsible for providing assistance to management and employees in oversight, direction, clarification and interpretation of state and federal regulations. Main duties include: analyzing and interpreting federal and state regulations, reviewing and analyzing lending data for regulatory applicability and reporting requirements, administering regulatory testing and monitoring within the bank, and the identification and resolution of compliance exceptions within the Bank. Responsibilities also include implementing an effective Community Reinvestment Act Program. The position requires ongoing research and collaboration across departments, as well as effective communication with auditors, management and executive management, and external examination staff.

The following duties are intended to provide a representative summary of the major duties and responsibilities and ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional duties.

Essential Duties and Responsibilities

1. Evaluate compliance processes throughout the Bank. Make recommendations to improve efficiencies and to ensure compliance with applicable regulations.
2. Responsible for understanding all aspects of lending regulations to include, but not limited to, Truth in Lending Act (TILA), Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), Flood Disaster Protection Act (FDPA), Real Estate Procedures Settlement Act (RESPA), Home Mortgage Disclosure Act (HMDA, Servicemembers Civil Relief Act (SCRA), Military Lending Act (MLA) and Regulation O.
3. Participate in the Bank's regulatory change management program including interpreting and documenting regulatory changes, creating and participating in appropriate projects to implement changes and performing post implementation testing.
4. Perform testing and monitoring for all lending areas as scheduled based on annual risk assessment. Work with business units to resolve any identified exceptions and implement controls to mitigate future exceptions.
5. Perform all duties in relation to the Bank's Community Reinvestment Act (CRA) Program including importing and analyzing data, tracking and approving service and volunteer hours and assisting with annual assessment.
6. Manage NMLS institution user account for the Bank. Add/remove Mortgage Loan Originators (MLO) on the National Registry system. Maintain the accurate MLO list on the Bank's website & employee directory.
7. Review assigned programs and policies on an annual basis. Provide recommendations for updates to management and implement approved changes.
8. Review internal/external department procedures regarding assigned regulations at least annually and provide results to management.
9. Assist management in regards to all aspects of the Bank's Fair Lending Program.
10. Understand all aspects of the investor requirements for origination, loss mitigation and servicing of mortgage loans.
11. Assist with testing and monitoring of deposit accounts as needed.
12. Review marketing materials to ensure all advertising is compliant.
13. Provide effective support, guidance and problem resolution to Bank personnel for compliance issues or questions as requested.
14. Evaluate assigned regulatory training for success in bank wide job duties, and assist in creating or modifying training as appropriate for regulatory changes or exceptions identified.
15. Complete online, written and in-person compliance training within established timeframes.
16. Other duties as assigned.

Qualifications

Education

• High School Diploma or equivalent.
• Two years of related field training or higher education directly related to the job.

Experience

• Five years of banking experience to include:
  1. Commercial lending, consumer lending, or loan documentation experience.
  2. Two years of compliance experience.
• Equivalent combination of education and/or experience that fulfill the requirements of the position may be considered.
• Related military education/experience may be used as a substitute for education or work experience.

Knowledge & Communication Skills

• Exceptional communicator with the talent to easily identify issues, problems or concerns and mentor staff to self-discover resolutions and solutions.
• Ability to read, write, and speak English sufficiently to comprehend, analyze, and effectively communicate business memorandums, technical procedures, and government regulations.
• Must understand how changes made to products, services, and operations are influenced by regulations and also how changes to regulations may affect the same.
• Maintain a high degree of confidentiality regarding information about Bank-wide plans, employee and director loans, and other high risk compliance and legal matters.
• Must understand and have the ability to implement applicable compliance requirements.

Analytical & Decision Making Skills

• Self-directed, able to work independently without supervision, and be able to prioritize multiple projects to meet firm deadlines.
• High level of analytical skill to assess and evaluate various aspects of compliance operations, coordinate daily tasks, and independently determine solutions to complex problems.
• Work is highly complex. Strong analytical ability is required to review and understand complicated regulatory text, interpret and convey it effectively with Bank staff, auditors, management and executive management.
• Ability to provide recommendations to staff and management regarding regulatory information to ensure effective implementation of regulations assigned.
• Manage numerous assignments and complete the assignments within established time frames. Assist with the management and resolution of critical issues.

Computer/Software/Other Equipment Skills

• Ability to navigate through developed spreadsheets, databases and models used in balancing daily work.
• Able to comprehend and respond to new software and program upgrades.
• Intermediate knowledge of MS Office Suite, including Word, Excel, PowerPoint, and Outlook. Ability to operate standard office equipment such as PC, printer, fax/copier, and telephone.

Working Conditions

• The noise level in the work environment is usually moderate.
• Work is performed in a professional office environment.