The Mortgage Compliance Specialist is responsible for assisting in building and maintaining a comprehensive compliance program for myCUmortgage (the CUSO) through monitoring, validation and compliance assessments for both mortgage loan origination and mortgage loan servicing. The Mortgage Compliance Specialist will assist in maintaining a compliance program through completing compliance-related assignments and tasks, developing policies and procedures, educating employees and Partner Credit Unions (PCUs), responding to possible violations and other duties that would fall under the compliance framework. This position has responsibility to assist in ensuring compliance with Regulatory, Investor and State requirements.

Percentages may vary due to assignments.

• Act as a reliable compliance resource for the CUSO with an immense focus on learning and understanding Regulatory, State and Investor requirements and guidelines that affect myCUmortgage, the business model and our PCUs. (20%)

• Monitoring, testing and evaluating compliance through the compliance framework to prevent and detect compliance breaches including but not limited to the quarterly complaint review, monthly MLO status audit, quarterly production of the HMDA reports and assisting in other compliance special projects and needed under the compliance program framework. (15%)

  • Offer skillful and accurate solutions (20%)

• Work closely with internal/external risk partners, other compliance partners, legal, vendors and internal operations and servicing teams to ensure risk is being mitigated through loan investigation, program control oversight, policy and control testing. (15%)

• Develop and maintain a strong working knowledge of Compliance with a thorough understanding of Regulatory, State, and Investor requirements. Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed. Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated. (10%)

• Assists in the development and maintenance of practices and procedures as they relate to ensuring proper licensing for myCUmortgage and third party originators, Regulatory mortgage compliance requirements, State requirements and timely and accurate communication of regulatory changes (10%)

• Contribute and assist in compiling monthly, quarterly, annual or adhoc reporting to stakeholders, senior leadership, operations and servicing staff, CUSO leadership and/or Partner Credit Unions as assigned, keeping the CUSO informed of compliance issues and trends (5%)

• Assists with change management functions under the compliance framework: (5%)

  • Effectively working with current compliance tools and software to better track, test, utilize and promote compliance functions and initiatives while identifying and suggesting improvements and streamlines that can be made.
  • Monitor and Identify emerging risks via compliance changes, investor changes, industry standards and regulatory hot topics
  • Summarize regulatory changes when sending notifications to the lines of business so the change is clear and concise.

Required Skills

The Mortgage Compliance Specialist must possess the following knowledge and skills:

• A bachelor’s degree in a business discipline is preferred; candidates who present 5 years of mortgage-specific experience and formal training may also be considered.
• Prefer at least 1 year experience in a regulatory compliance, internal audit, or quality control role.
• Demonstrated ability to research and interpret federal and state rules, regulations and laws and apply the interpretation to business processes and internal policies.
• Demonstrated ability to analyze complex situations and solve problems and/or design recommendations to accomplish business and tactical goals.
• Excellent written and verbal communication skills.
• Strong attention to detail.
• Intermediate knowledge of Microsoft Office Products.
• Ability to work under time constraints, within deadlines and be able to prioritize work effectively.
• The ability to make decisions when necessary to ensure that audits, projects or reporting can be kept moving forward and completed timely.

Required Experience

The Mortgage Compliance Specialist must possess the following knowledge and skills:

• A bachelor’s degree in a business discipline is preferred; candidates who present 5 years of mortgage-specific experience and formal training may also be considered.
• Prefer at least 1 year experience in a regulatory compliance, internal audit, or quality control role.
• Demonstrated ability to research and interpret federal and state rules, regulations and laws and apply the interpretation to business processes and internal policies.
• Demonstrated ability to analyze complex situations and solve problems and/or design recommendations to accomplish business and tactical goals.
• Excellent written and verbal communication skills.
• Strong attention to detail.
• Intermediate knowledge of Microsoft Office Products.
• Ability to work under time constraints, within deadlines and be able to prioritize work effectively.
• The ability to make decisions when necessary to ensure that audits, projects or reporting can be kept moving forward and completed timely.