Vice President of Compliance

Job Summary:

The Vice President of Compliance is responsible for overseeing the Compliance Department.

The VP of Compliance establishes and implements an effective compliance program to prevent illegal, unethical or improper conduct.

Using an active and practical approach, the VP of Compliance will direct the Compliance department to attain the company’s strategic goals and plan.

Responsibilities:

Keep abreast of existing, new and pending laws and regulations impacting the mortgage industry.

Communicate changes to all departments and to monitor all departments to ensure compliance with State and Federal Agency requirements.

Utilize analytics and statistical/interrogation methods to improve the efficiency and effectiveness of a compliance monitoring process.

Deliver a Compliance Quality Assessment report that identifies root causes and trends.

Provide actionable remediation recommendations to address all identified deficiencies.

Collaborate with business lines and senior... management to develop and maintain corporate policies and proceduresConduct gap analysis and ensure streamlined adherence to federal and state related regulations including regulatory compliance such as HMDA, TILA, RESPA, ECOA, FCRA & UDAAPEnhance the mortgage compliance risk assessment and compliance process for the Enterprise wide risk assessmentsPlan and manage successful risk management, internal audit, governance and compliance projects.

Improve quality of work and audit planning/execution through strengthened engagement processes, testing, methodologies and business processesDevelop and maintain the global operational compliance audit strategy and risk library with effective controls for all business unitsUse a logical, risk-based thought process and experience to perform independent analyticsDevelop and maintain a regulatory HMDA compliance file review a monitoring programDirect day to day activities of the team, including coaching, mentoring and trainingAssist in development of disclosures, policies and procedures, with regards to all Federal and State regulations, and Agency requirements, including but not limited to RESPA, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Housing Act as well as others that pertain to the mortgage industry.

Create Compliance Bulletins, and develop training regarding regulatory compliance, disclosing and TRID compliance.

Facilitate investigations pertaining to possible instances of non-compliance.

Conduct in-house audits to identify potentially problematic areas that need correction; collaborate with other departments as needed to ensure compliance issues are addressed, investigated, determine the root cause and resolved and once resolved, continually adhered to in practice to avoid being repeated or to deal with similar situations in the future.

Monitor and coordinate compliance activities of other departments including but not limited to Marketing, Finance, Branch Operations, Operations, IT, HR, etc. to remain abreast of the status of all compliance activities and to identify trends.

Assist in answering internal compliance-related inquiries and external complaints.

Assist in state and federal and agency audits; develop compliance policies as required with regards to audits.

Oversee the HUDPETR Reviews, Investors loan file audits and the Agencies loan file reviews, to collaborate with the COO with training the Operations staff of the findings of the reviews.

Perform other duties as assigned.

Supervisory Responsibilities:

Responsible for overseeing the day to day functions and staff employees of the Compliance Department.

Requirements:

Bachelor's degree, Academic/professional qualifications or certification in regulatory compliance, quality assurance, risk management and/or information will be desirable.5+ years work experience in a Residential Mortgage Lender, Bank, Credit Union, ora Regulatory Agency, as a Regulatory Compliance Professional, control or audit officer.

If the experience is from a bank or Credit Union, you must have the experience in the mortgage side of industry.

Success in driving operational and regulatory compliance in a fast-paced environment.

Individual must have Enterprise Risk Management leadership.

Knowledge of Consumer Financial Protection Bureau (CFPB) laws and regulations impacting mortgage originations, such as RESPA, TRID, HMDA, regulations relating to Privacy and Information Security; Fair Lending; Unfair, Deceptive or Abusive Acts or Practices; and Fair Credit Reporting Act to name a fewAbility to work with all levels of management and staff.

Well organized, detail oriented, efficient and able to work independently and think critically.

Strong written and oral communication skills are required.

This individual must possess strong leadership abilities while providing excellent customer service levels to internal and external customers.

The VP of Compliance must be self-sufficient and show the initiative to self-educate industry product and program guidelines.

Timely communication and response times according to department standards

Physical/Sensory Requirements:

Must be able to lift 25 pounds at a timeBend, stoop and stretch as neededProlonged periods of sitting, standing and or ambulating (Employee has some control over the length of time)Prolonged use of computers, telephone, and other standard office equipment which includes reading, writing, listening or speakingFluency in English language (written, oral, spoken); fluency in a second language desirable