Compliance Analyst
VRM Mortgage Services
Location: Carrollton, TX
The position is responsible for a variety of functions to ensure compliance with regulatory and client guidelines. Incumbent will assist in company-wide and vendor audits and testing, to include quality control oversight. Incumbent will assist in the development and implementation of compliance programs for the organization; monitoring business activities for compliance with applicable rules and regulations and ensure operating manuals and procedural documents stay current when regulations change. Where applicable, incumbent will assist in responses to inquiries from regulatory agencies and complete required compliance documentation. Incumbent will be responsible for ensuring all timeframes are met, document findings and recommend solutions or remediation plans as needed. Incumbent will assist to track, monitor, document and maintain documents in related compliance repositories and assist to provide timely correspondence to internal and external stakeholders. In addition, incumbent may work in a support capacity with Internal Audit and QA/QC departments during internal and external vendor audits. This position will also act as a compliance resource for vendor oversight with a specific focus on our loan Originations and Servicing vendors, as well as our corporate vendor management. This individual will assist to identify risks or trends and provide appropriate management reports. A background in lending audit, risk assessment or testing is a plus. As this work is highly variable based upon regulatory and client changes, this individual should expect to take on additional tasks, related audits, and compliance oversight of loan Originations and Servicing, as appropriate.
Essential Functions/Performance Dimensions and Tasks
Task Management
Stay abreast of all client/regulatory and state requirements. Identify new requirements or rules that require changes within Loan Originations and Servicing and monitor for accurate adherence to the new requirements.
Assists in maintaining corporate compliance, risk assessment and monitoring programs to ensure the company and vendors comply with applicable laws, regulations, supervisory guidance and agency guidelines related to mortgage and loan servicing
Assists in oversight and tracking of all policies and procedures, reviewing any that have regulatory and/or compliance impact.
Assists to assess and rank compliance risks relative to federal compliance regulations and state laws, taking into account the potential civil penalties, reputational risks, regulatory risks, scope, controls and potential for non-compliance
Inform management of internal/external audit findings and provide recommendations on appropriate course of action related to trends and concerns through management reports
Versed on relevant compliance regulations as related to Loan Originations and Servicing functions. Aids in monitoring for compliance related changes and disbursement of information to pertinent business unit
Maintain a balance between company policy, client requirements and customer benefit in decision-making. Handles issues in the best interest of both customer, client and company
Assists operational areas in defining practices that would result in adherence to regulatory compliance and quality control objectives
Continuously evaluate and identify opportunities to drive process improvements that positively affect the customer’s experience and ensure compliance within company-wide operations
Assist in compliance oversight and reviews including various reviews of third party/vendor processes and procedures that impact the company’s compliance and quality assurance program
Stays current in industry trends and regulatory compliance through workshops, seminars, professional reading, and training
Handle critical deadlines and projects as assigned by the supervisor
Willing to assume other duties/projects as assigned and manage responsibilities with little to no supervision, ensuring deadlines are met
Respond to requests of other departments in a timely manner
Management retains the discretion to add to or change the duties of the position at any time.
Job Specifications
Bachelor’s degree required; JD preferred
A minimum of 3 years of compliance and/or legal experience in the mortgage, lending servicing or finance industry; four or more years of experience preferred
Preferred candidate will have 3 years’ experience working with investors such as: Fannie Mae, Freddie Mac, HUD, VA
Preferred experience working in the mortgage servicing and consumer loan industry. Should include loan originations or escrow/title experience
Basic knowledge of Excel – Proficient is preferred
The above qualifications express the minimum standards of education and/or experience for this position. Other combinations of education and experience, if evaluated as equivalent, may be taken into consideration.
KSAO’s
Required Knowledge:
Knowledge of principles and processes for providing customer service; structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar; Microsoft Office (emphasis on Excel, Outlook, and Internet Explorer); Additional functional knowledge includes:
Essential Skills:
Speaking: Talking to others to convey information effectively; Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times; Active Learning: Understanding the implications of new information for both current and future problem solving and decision making; Attention to Detail: accomplishes task by considering all areas involved, no matter how small; showing concern for all aspects of the job; accurately checking processes and tasks; Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems; Reading Comprehension: Understanding written sentences and paragraphs in work related documents. Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one. Conflict Resolution: Using verbal and nonverbal communication skills to successfully resolve conflicts; Problem Solving: Identifying and working through details of a problem to develop and evaluate options and implement solutions; Monitoring: Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action; Negotiation: Bringing others together and trying to reconcile differences; Service Orientation: Actively looking for ways to help people; Time Management: Managing one's own time and the time of others
Essential Abilities:
Oral Expression: ability to communicate information and ideas in speaking so others will understand; Oral Comprehension: ability to listen to and understand information and ideas presented through spoken words and sentences; Speech Recognition: ability to identify and understand the speech of another person; Speech Clarity: ability to speak clearly so others can understand; Written Comprehension: ability to read and understand information and ideas presented in writing; Written Expression: ability to communicate information and ideas in writing so others will understand; Inductive Reasoning: the ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events); Deductive Reasoning: ability to apply general rules to specific problems to produce answers that make sense; Problem Sensitivity: ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem; Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
Job Context:
Majority of work will be performed indoors in an environmentally controlled setting; Some property inspections and conferences will require travel and performing work outside of a controlled office setting; business casual; frequent contact with others via e-mail, telephone, face-to-face, letters and memos; daily decisions which have high impact on co-workers and company results; high level of autonomy within highly structured process flows; may frequently work beyond 40 hours per week.
Vendor Resource Management makes reasonable accommodation to the known physical or mental limitations of an otherwise qualified individual with a disability who is an employee or applicant for employment unless the accommodation would impose undue hardship on the operation of the business in accordance with applicable law. If you require an accommodation in the application process, please call (972) 232-6365 or email: accommodations@vrmco.com.
EEO/AA/M/W/Veterans/Individuals with Disabilities ______________________________________________________________________________
Notice to Prospective Employees of Vendor Resource Management, Inc. who are California Residents
Vendor Resources Management, Inc. dba VRM Mortgage Services respects the privacy of our employees and prospective employees. You can read about our information collection practices including the categories of information we collect from you and how we use that information in our privacy policy located at https://www.vrmco.com/privacy-policy/.
If you have any questions please contact the CCPA Team at CCPA@vrmco.com or (888) 419-2272.