Default Business Controls Audit Manager

Freedom Mortgage

16d

About The Position

Summary: The Manager, Default Change Controls is responsible for the management of processes related to service transfers (inbound and outbound) for all Default, pre-transfer/day of transfer/post-transfer tasks associated with onboarding and staging of acquired loans, scrub of all data associated with inbound and outbound transfers (bankruptcy, foreclosure, preservation, claims), coordination of all transfer activity and task completion with the Servicing Transfer Department, post-transfer reconciliation, service release data processing, report analytics and development with Corporate Analytics Department, project/change management oversight and completion, technical writing, audit review/responses, Sharepoint administration, Sagent code cross and script testing for Default. The Manager works collaboratively with various Servicing businesses to achieve required performance results, minimize risk, and adhere to procedures, guidelines and SLAs. Essential Job Duties and Responsibilities: Management of all inbound and outbound service transfer processing for Default to include, but not limited to: bankruptcy, foreclosure, preservation/damaged properties, claims, litigation, with some loss mitigation and restricted escrow responsibilities. Management of vendors supporting the service transfer processes to ensure timely completion of tasks as assigned. Identification of ways vendors can effectively support Freedom within transfer processes to minimize cost and reduce risks. Development of reporting and analytics to support all servicer transfer processes and exception identification to allow for effective review of loan populations onboarding or releasing Collaboration with Servicing Transfer and/or Capital Markets teams to outline challenges, loan exceptions/exclusions as needed to affect positive outcome to Freedom with minimal risk Corporate advance review and reconciliation oversight, as needed, on incoming portfolios with extra focus on bankruptcy loans to ensure accurate setup during staging Review of audit findings to develop effective rebuttal or agreement responses for internal, external, investor/insurer audits. Includes development of action plans with businesses for items that result in an "agree" response. Review of legal and regulatory updates to effectively discuss with impacted businesses the changes required to processes. Liaison with Compliance Department on such items until full close out completed. Management of team of individuals managing projects for Default and monthly reporting to VP Default Business Controls outlining progress to deadlines and goals identified Liaison with Corporate Analytics and Default businesses for the purpose of report and dashboard development, technical solutions to assist Default teams with management and oversight of processes. As needed, oversight and support for quarterly code cross initiatives, script testing, system enhancement submission and tracking Work collaboratively across all departments of Default to help improve the execution of projects managed; establish partnerships required to effectively execute Management of default letter updates; cost analysis to identify ways to reduce costs/frequency of letters being sent Development and maintenance of department Sharepoint sites Maintenance of policies and procedures used Establishment of SLAs, performance reporting and staff scorecards Conduct staff training and coaching; conduct regular team meetings Comply with all company policies and procedures. Maintain regular and punctual attendance. Other Job Duties and Responsibilities: Performs other related duties as assigned.

Requirements

Knowledge of the life of a loan through the default mortgage process, preferably in foreclosure or bankruptcy
Knowledge of service transfer processing and requirements to ensure compliance to CFPB and other applicable regulations
Ability to review legal/regulatory updates and/or investor/insurer guidelines to understand change needed for compliance
Ability to communicate with leaders at all levels across the organization and hold them accountable to deadlines
Effective time management & organizational skills, proven experience providing highest level of customer service to internal & external clients
Bachelor’s Degree from a Four (4) year College or University preferred and 5 to 8 years of experience or equivalent combination of education and experience required
Prior experience in the mortgage industry
2 to 4 years of supervisory experience

Nice To Haves

8 years of experience preferred
Experience in managing tasks associated with service transfers (inbound and outbound)
Experience understanding legal updates/compliance requirements

Responsibilities

Management of all inbound and outbound service transfer processing for Default to include, but not limited to: bankruptcy, foreclosure, preservation/damaged properties, claims, litigation, with some loss mitigation and restricted escrow responsibilities.
Management of vendors supporting the service transfer processes to ensure timely completion of tasks as assigned.
Identification of ways vendors can effectively support Freedom within transfer processes to minimize cost and reduce risks.
Development of reporting and analytics to support all servicer transfer processes and exception identification to allow for effective review of loan populations onboarding or releasing
Collaboration with Servicing Transfer and/or Capital Markets teams to outline challenges, loan exceptions/exclusions as needed to affect positive outcome to Freedom with minimal risk
Corporate advance review and reconciliation oversight, as needed, on incoming portfolios with extra focus on bankruptcy loans to ensure accurate setup during staging
Review of audit findings to develop effective rebuttal or agreement responses for internal, external, investor/insurer audits. Includes development of action plans with businesses for items that result in an "agree" response.
Review of legal and regulatory updates to effectively discuss with impacted businesses the changes required to processes. Liaison with Compliance Department on such items until full close out completed.
Management of team of individuals managing projects for Default and monthly reporting to VP Default Business Controls outlining progress to deadlines and goals identified
Liaison with Corporate Analytics and Default businesses for the purpose of report and dashboard development, technical solutions to assist Default teams with management and oversight of processes.
As needed, oversight and support for quarterly code cross initiatives, script testing, system enhancement submission and tracking
Work collaboratively across all departments of Default to help improve the execution of projects managed; establish partnerships required to effectively execute
Management of default letter updates; cost analysis to identify ways to reduce costs/frequency of letters being sent
Development and maintenance of department Sharepoint sites
Maintenance of policies and procedures used
Establishment of SLAs, performance reporting and staff scorecards
Conduct staff training and coaching; conduct regular team meetings
Comply with all company policies and procedures.
Maintain regular and punctual attendance.
Performs other related duties as assigned.