Lending Compliance Specialist III

Bank of Utah • Lehi, UT

2d • Onsite

About The Position

The Lending Compliance Specialist III serves as a resource and consumer compliance expert within the Bank’s Compliance function and plays a key role in managing lending compliance risk and supporting the Bank’s Compliance Management System (CMS). The position provides expert advice, guidance, and training to business lines and employees regarding applicable federal and state banking laws, regulations, regulatory guidance, policies, and procedures, and serves as the Bank’s subject matter expert for Marketing and Advertising Compliance.

Requirements

• Bachelor’s degree preferred
• 7 to 10 years relevant experience (banking, lending compliance, mortgage operations, commercial lending support, etc.)
• Expert knowledge of Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), Equal Credit Opportunity Act (ECOA), Fair Credit Reporting Act (FCRA), Gramm-Leach-Bliley Act (GLBA), Home Mortgage Disclosure Act (HMDA), Secure and Fair Enforcement of Licensing Act (SAFE Act), Fair Lending, Reg Z, Reg B, Reg E, BSA/AML, UDAAP, MLA and SCRA.
• Expert knowledge of mortgage investors (FNMA/FHLMC) eligibility requirements and underwriting guidelines; regulatory compliance; and standard auditing procedures
• Excellent written and oral communication skills – proven ability to research and communicate complicated regulatory information in a straightforward manner
• Proactively look for solutions for compliance changes/updates
• Must work well with others to coordinate and motivate staff
• Excellent time management skills with the ability to organize & prioritize projects

Nice To Haves

• CRCM preferred

Responsibilities

• Manage Mortgage Quality Control audits, as per the Bank’s Quality Control Plan.
• Submit mortgage reports to outsourced Quality Control company to facilitate selection of required 10% sample.
• Review selection sample and submit required loan documents to outsource Quality Control company for review.
• Review Quality Control findings for accuracy, clear any incorrect findings, communicate findings timely to management, suggest possible solutions.
• Work closely with mortgage team during the entire Quality Control life cycle.
• Prepare and submit reports indicating the findings of the audit to the Mortgage Banking Operations, including any trends noted.
• Assist in performing Prefunding Quality Control audits timely.
• Review mortgage files prior to funding.
• Communicate findings to management.
• Coordinate monthly meetings with Mortgage Department staff to review findings.
• Prepare and submit monthly reports indicating findings, resolutions and trends.
• Propose solutions to findings.
• Manage Cancelled File Quality Control audits.
• Assist in performing weekly reviews.
• Prepare and submit quarterly reports indicating findings, resolutions and trends.
• Train mortgage staff with the assistance of Mortgage Banking Operations leadership.
• Monitor for all compliance related issues, including HMDA reporting.
• Propose solutions to findings.
• Perform audits timely per the Quality Control Plan.
• Assist in the regular maintenance of the written Mortgage Quality Control Plan, coordinating with compliance management.
• Review on an on-going basis compliance/guideline bulletins and memorandums to ensure that the Mortgage Quality Control Plan is current.
• Work with the Secondary Market Department to implement new investor requirements into the Quality Control Plan.
• Propose updates to the Quality Control Plan based on Fannie Mae or other investor requirements.
• Completion and submission of the Bank’s HMDA LAR to the Consumer Financial Protection Bureau.
• Collecting and reporting (quarterly and annually) the required HMDA data, including geocoding.
• Monitoring and follow up to corrections.
• Assist in the written HMDA policy and procedure.
• Assist in HMDA training to staff.
• Staying abreast of revisions to HMDA and Regulation C and the implementation thereof (training, updating policy and procedure, etc.).
• Assist in developing use of the Bank’s HMDA software.
• Manage the Appraisal Management monitoring function.
• Conduct ongoing monitoring of Mortgage Department logs to verify Appraisal Independence is maintained.
• Verify disclosures are provided timely.
• Monitor for reconsiderations of value and appraisal bias.
• Manage Consumer Lending Products monitoring function.
• On an on-going basis: Pull monthly reports for closed and cancelled applications.
• Monitor/review Residential Construction, Lot, Auto, Unsecured and DDL loans for compliance with regulatory requirements and Bank policy.
• Prepare and submit monthly reports indicating findings, resolutions and trends.
• Propose solutions to findings.
• Work with the Lending Compliance Officer to research and approve marketing and advertising material submitted through the Bank’s marketing compliance review process.
• Monitor compliance with UDAAP, Truth in Lending, Fair Lending, FDIC advertising requirements, and other applicable regulatory guidance.
• Report on marketing compliance trends, findings, and recommendations to Compliance Management and applicable committees.
• Obtain training in Marketing/Advertising Compliance requirements.
• As assigned, perform ongoing monitoring procedures over the various lending compliance regulations, reporting the results to the Lending Compliance Officers and applicable business units.
• Additional summarized reporting should be prepared for the Compliance Committee, including trends and resolutions.
• Assist in Policy update/change research.
• Assist in coordinating changes to processes and procedures based on findings and/or new regulatory requirements.
• Maintaining up to date compliance documentation.
• Assist in developing compliance monitoring reports including trend and resolution information.
• Assist in researching exam/audit findings during and after exams and audits.
• Attend mortgage operations/compliance meetings and participate (train) when needed.
• Proactively attend webinars, trainings and other educational opportunities.
• Work towards professional compliance certifications.
• Other duties as assigned.

Benefits

• Great work-life balance, with a Monday-Friday schedule
• Competitive pay and benefits, including medical, dental and vision plans
• 401(k) plan and match up to 5 percent in our employee stock ownership program (eligibility requirements must be met)
• 12 paid bank holidays + paid time off, including paid parental leave
• Volunteer opportunities to make a difference in the communities where you work and live
• Awards and recognition to celebrate you and your colleagues for living the bank's values

What This Job Offers

• Job Type: Full-time
• Career Level: Senior