Loan Quality Assurance Specialist I

First United Bank•Durant, OK

8d•Onsite

About The Position

The Loan Quality Assurance Specialist - Consumer is responsible for monitoring compliance with regulations, credit policy, and internal controls for consumer and real estate loan types. The role focuses on two main areas: loan documentation quality pre- and post-reviews, First Line of Defense (FLOD) regulatory data integrity reviews and reporting. This Specialist documents findings, coordinates error resolution, and recommends improvements that strengthen loan quality and effectiveness and mitigate risk. This position offers advancement as knowledge and skills increase.

Requirements

High school diploma or GED
Good understanding of financial institution products and services
Ability to work in fast-paced environment, handle multiple tasks and prioritize work
Proficient computer software navigation skills including M365 systems: Word, Excel, Teams, Planner, SharePoint
Ability to communicate well including verbal and written communication
Ability to organize, prioritize and execute tasks and projects independently or with little supervision
Ability to adapt to changing technology and processes
Ability to quickly grasp complex rules and guidelines
Adhere to timelines and schedules
Exceptional customer service skills
Strong interpersonal skills and ability to work well within a team and with a wide range of people
Willingness to accept additional responsibilities

Nice To Haves

Bachelor’s degree in business, law, finance, or computer information systems
Experience in banking, lending, or operations
Experience with loan documentation, collateral perfection, document tracking, and lending regulatory requirements such as HMDA, TRID, Flood, and MLA

Responsibilities

Perform pre-closing review of new consumer real estate loan documentation to confirm regulatory compliance (including TRID and RESPA), bank policy compliance, and collateral perfection before providing documents to borrowers.
Perform post-closing review of originated consumer real estate loans to confirm required documentation was properly executed, and critical loan terms are accurate in the core loan system.
Perform post-closing reviews of consumer non-real estate loans and identify error patterns.
Identify and enter tracking for missing documents and recurring documentation requirements into the exception tracking system.
Ensure Home Mortgage Disclosure Act (HMDA) data accuracy, including origination and fallout validation and omission reviews.
Monitor consumer loan application and processing information from the loan origination software to ensure regulatory compliance including fair lending, Military Lending Act (MLA), Equal Credit Opportunity Act (ECOA), and Fair Credit Reporting Act (FCRA).
Review new loans to ensure compliance with Flood and Right of Rescission regulations.
Maintain records of quality reviews with supporting documentation and enter findings to the First Line of Defense (FLOD) reporting and the bank’s risk management software.
Assist with research and responses to regulatory discrepancies from compliance or auditors.
Validate and index imaged loan documents.
Monitor reports and add document tracking when appropriate.
Assist with risk-based reviews of loan servicing processes, including ARM notices, billing statements, escrow, credit bureau processing, upload and maintenance loans, Servicemembers, collateral insurance monitoring and paid loans.
Apply acquired job skills and adhere to all First United Bank policies and procedures to complete assigned tasks.
Communicate review results and issues to supervisor, and recommend improvements to procedures and controls.
Monitor and respond to internal email boxes and phone calls, providing support to community bankers, Loan Production, and Loan Servicing teams.
Assist with consumer lending process observations and individual training.
Attend team and department meetings as requested.
Complete all assigned education, including annual compliance courses, and pursue continual learning to update knowledge and skills.
Always demonstrate professionalism in attire and communication using customer service skills.
Other duties as assigned by supervisor.