Position Title: Compliance Analyst
Reports To: Vice President of Compliance
FLSA Status: Exempt
Date Prepared/Updated: September 2014; May, 2016; April 2019; July 2020
Purpose of Position: The Compliance Analyst is responsible for providing federal & state compliance support in all aspects of the mortgage origination & servicing businesses. Provides assistance and leadership to the Compliance Department in handling day to day compliance related questions and issues. The responsibilities of this position include, but are not limited to, the following:
▪ Monitor, analyze and communicate pending and/or enacted legislation. Communicate any important pending legislation and all enacted legislation as it pertains to business operations and assist with coordination of the implementation of such legislative changes with all operations, systems and support areas.
▪ Serve as a backup to our Licensing Analyst to ensure proper licensing of company, branches, and its Mortgage Loan Originators (MLO) through the National Mortgage Licensing System Registry (“NMLS”)
▪ Approve marketing material, review all marketing social media compliance through utilizing a third party vendor
▪ Assist internal customers (branch offices, loan officers, administrative & support departments, etc.) to ensure compliance with federal & state lending & servicing laws and company policy.
▪ Assist with the development and implementation of compliance related policies and procedures.
▪ Analyze reports and review LOS and Servicing system processes and procedures to ensure data integrity. Work with Sales, Operations and IT (Encompass LOS) to ensure data integrity is monitored and processes or procedures updated as necessary to meet compliance requirements for accurate reporting, including but not limited to HMDA and NMLS Reporting.
▪ Work with IT and Encompass LOS support area and external document preparation companies to create, revise and maintain lending disclosures and documents.
▪ Assist in researching and developing policies and outlining statutory/regulatory requirements for expanding product lines.
▪ Assist as necessary with coordination and responding to regulatory consumer complaints.
▪ Maintain compliance related reference books, matrices and history files and assist with compiling documentation and facilitating regulatory examinations.
▪ Provide assistance with all aspects of mortgage lending state and federal examinations.
▪ Perform other duties as assigned.
▪ Bachelor’s Degree and minimum five (5) years in the mortgage banking/financial services industry in a regulatory compliance role.
▪ Legal and/or paralegal background preferred but not required.
▪ Demonstrated experience in a regulatory compliance role in the mortgage banking industry.
▪ Demonstrated knowledge of state & federal law including but not limited to: Dodd-Frank and CFPB oversight environment, HMDA, RESPA, TIL, ECOA, Privacy, Fair Credit Reporting, Flood Insurance, AML and OFAC.
▪ Demonstrated analytical skills as well as experience in Microsoft Office (Word, Excel, etc.).
▪ Handle multiple projects and work under deadlines.
▪ Possess excellent written and verbal communications skills.
Work Environment/Physical Demands: This job involves 0%-5% travel and takes place in an office setting. Will have to spend long hours sitting and using office equipment and computers, which can cause muscle strain.