AVP, Mortgage Operations & Compliance Manager

Main Street Bank•Marlborough, MA

8d•$90,000 - $115,000•Hybrid

About The Position

Reporting to the VP, Retail Lending Operations & Investor Relations, the Mortgage Operations & Compliance Manager is responsible for overseeing residential lending operations, regulatory compliance, and continuous process improvement initiatives. This role leads assigned mortgage operations staff, ensures compliance with applicable banking regulations, manages investor delivery functions, serves as the Bank's MERS Officer, and provides underwriting support and authority for residential and consumer lending. The position requires strong technical expertise in mortgage operations, secondary market delivery, compliance management, technology support, and workflow optimization. Additionally, it is expected that this position assists with projects that affect the department and the bank, acts as a resource for other team members and embraces the established sales and service culture to maximize their contribution to the Bank’s goals. After successful completion of training and proven abilities, this position is eligible for a hybrid work arrangement with consistent availability expected during core business hours and agreed upon number of days per-week/month on site. A fully remote arrangement will be considered with established annual meeting presence.

Requirements

Minimum seven years of progressive residential mortgage banking experience, with broad exposure to mortgage operations, compliance, underwriting, and secondary market activities.
Minimum three years of supervisory or management experience, including direct responsibility for employee development, workflow oversight, training and corrective action management.
Demonstrated experience with HMDA reporting, ECOA and fair lending requirements, flood compliance and audits.
Strong working knowledge of residential mortgage and consumer loan underwriting, agency or investor requirements, loan delivery, and post-closing conditions.
Experience administering MERS responsibilities, mortgage loan locks, gain-on-sale reporting, vendor oversight, and mortgage-related general ledger reconciliations preferred.
Experience leading process improvement, procedure development, technology support, workflow redesign, or system implementation initiatives.
Minimum three to five years of hands-on Encompass experience, including workflow management, system support, testing, issue resolution, and enhancement implementation.
Prior mortgage and consumer lending underwriting authority and experience performing second-level decline reviews strongly preferred.
Strong knowledge of banking regulations and laws, plus thorough understanding of mortgage and consumer lending vehicles.
In-depth understanding of secondary market guidelines, including state agency, HELOC, second mortgage, and consumer loan requirements.
Knowledge of Fannie Mae, Freddie Mac, and secondary mortgage market guidelines, including automated underwriting systems (DU and LPA).
Registered, or eligible to register, for a valid Mortgage Loan Originator Identifier Number via NMLS&R.
Intermediate to advanced level of proficiency in Microsoft Office Suite and standard office equipment.
Natural leader with positive communication (written & verbal) and well-developed interpersonal skills, ethics, and cultural awareness with the ability to motivate.
Collaborative, self-starter, strategic thinker, and seasoned problem solver.
Strong organizational, planning, and time management skills.
Advanced independent critical thinking and problem-solving skills to be able to navigate complex situations, and drive efficient, effective, and timely solutions that meet the needs of all stakeholders.
Develops and maintains relationships with officers, employees and external contacts and maintains alignment with core values, vision, strategy, and goals.
Ability to multi-task, organize, work independently, accomplish tasks, and meet deadlines despite frequent interruptions in a fast-paced environment while maintaining attention to detail.
Goal-driven and solution-oriented to align with Strategic planning and vision.
Detail-oriented, with the ability to balance a high number of competing projects and related tasks across all departments.
The person in this position frequently communicates with all departments at all levels about banking products and services and therefore must be able to exchange accurate information in these cases.
They will need to use judgment and discretion in decision making situations, interpret and follow all Bank policies and procedures, write/create reports, and business correspondence, (Main Street Bank’s standard language is English).
Speak and effectively present/communicate information and respond to questions from customers, groups of managers, vendors, and other employees.
Define problems, collect data, establish facts, and draw valid conclusions.
Read, analyze, and interpret a variety of documents such as loan documents, underwriting guidelines, industry news and trends, financial statements and Bank policies and procedures.
Occasionally lift and/or move up to 10 pounds, (i.e., files).
Regularly required to remain in a stationary position, greater than 80% of the time.
Consistently operate a computer for extended periods of time.
Specific vision abilities may be required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.
Regular use of office productivity machinery (i.e., a calculator, copy machine, fax machine, computer printer).
The employee must be able to work schedules that meet the needs of the bank, which may include early morning, evening and/or weekend hours.

Nice To Haves

Experience administering MERS responsibilities, mortgage loan locks, gain-on-sale reporting, vendor oversight, and mortgage-related general ledger reconciliations.
Prior mortgage and consumer lending underwriting authority and experience performing second-level decline reviews.

Responsibilities

Oversee compliance with applicable mortgage and consumer lending requirements, including HMDA, ECOA, Fair Lending, flood insurance, and other related regulations.
Manage the collection, validation, monitoring, and reporting of HMDA data for the annual Loan Application Register.
Coordinate internal, external, and regulatory audit requests; track findings and ensure corrective actions are completed and sustained.
Perform or oversee flood reviews and provide guidance on regulatory and policy requirements.
Maintain current knowledge of regulatory changes and translate changes into procedures, controls, and staff guidance.
Provide primary and backup support for mortgage loan lock administration.
Oversee mortgage pipeline management to promote timely processing, issue resolution, closing, and delivery.
Manage secondary post-closing conditions, investor suspense items, and loan purchase requirements.
Coordinate secondary market and investor delivery activities and manage gain-on-sale reporting and related performance metrics.
Conduct mortgage vendor analysis, monitor service and performance, and recommend industry best practices and operational enhancements.
Perform or oversee mortgage-related general ledger reconciliations and resolve outstanding items.
Maintain underwriting authority for residential mortgage and consumer loans in accordance with Bank policy and delegated limits.
Conduct appraisal and second-decline reviews and provide guidance on complex credit decisions, exceptions, and risk-mitigation strategies.
Provide backup underwriting support to ensure business continuity and appropriate service levels.
Serve as a resource regarding Bank credit policy, underwriting guidelines, and investor requirements.
Own, develop, maintain, and periodically review departmental policies and procedures to ensure accuracy, consistency, and regulatory alignment.
Lead continuous business process improvement efforts across mortgage workflows, with a focus on efficiency, quality, controls, and customer experience.
Provide functional support for Encompass and other mortgage technology platforms, including workflow configuration, testing, issue resolution, and implementation of system enhancements.
Partner with internal stakeholders and vendors to identify technology and process opportunities that improve operational performance and reporting.
Serve as the Bank's designated MERS Officer and complete required attestations, reports, certifications, and related administrative responsibilities.
Prepare and maintain management reporting related to compliance, pipeline activity, secondary market delivery, operational performance, and identified risks.
Perform other duties and special projects as assigned or required by evolving business needs.
Serve as a Bank Officer and represent Retail Lending on internal committees, projects, and initiatives as assigned.
Consistently meet or exceed established performance standards and objectives, using tools and systems including (but not limited to) Optimal Blue and Encompass for self-management, organization, and proactive problem-solving.
Achieve strong results while balancing multiple complex priorities while maintaining a strong focus on achieving departmental results and promoting the corporate culture by fostering organizational vision, policies, and guidelines.
Support internal, external, and regulatory auditors with the collection of requested materials as assigned with their respective engagements.
Maintain registration with the National Mortgage Licensing System and Registry (NMLS&R) and uphold responsibilities under the SAFE Act.
Effectively use tools and systems to be able to self-manage, organize, and complete work independently, proactively recognizing potential obstacles resolving them before they become an issue, managing to deadlines, creating action plans when not on track, enabling job functions to happen with minimal oversite and meeting conditions of satisfaction.
Use discretion in dealing with large amounts of sensitive, confidential information, while adhering to all Bank policies and procedures.
Readily volunteer and accept assignments to special tasks established to address specific issues and opportunities.
Adhere to all company policies, consistently demonstrating our core values and service standards.
Regular and consistent attendance is required to ensure the high standard of customer service.
In the performance of respective tasks and duties, the employee is expected to maintain knowledge of and ensure compliance with Bank Secrecy Act regulations and adheres to compliance procedures and internal/operational risk controls in accordance with all applicable regulatory standards, requirements and policies as well as attending all required training sessions and completing all required on-line training courses.
Other duties as assigned, performing similar or related work as directed, required, or as situation dictates.
Direct staff according to business needs, and established goals/objectives that are aligned with the Strategic Plan.
Lead, develop, and manage team members to ensure high performance, engagement, and operational effectiveness.
Conduct performance evaluations and provide ongoing coaching, feedback, and development to support employee growth and accountability.
Foster a culture of accountability, collaboration, continuous improvement, and innovation.
Establish departmental goals, monitor performance metrics, and drive achievement of business objectives.
Direct departmental activities to ensure service excellence, operational efficiency, and compliance with policies and regulations.
Drive talent acquisition, succession planning, and employee development initiatives.
Review and approve employee timecards and time-off requests, ensuring accuracy, policy compliance, and appropriate staffing levels.
Lead process improvement and change management efforts to enhance efficiency, controls, and service delivery.
Promote and exemplify the Bank's culture, values, and strategic direction through leadership and decision-making.