This position reports directly to the Director of Mortgage Compliance and is specifically responsible for mortgage regulatory compliance support of all lines of business at FirstBank. Generally, the HMDA Compliance Analyst serves as a subject matter expert for applicable lending regulations, specifically regarding HMDA data, and works closely with the assigned lines of business. The HMDA Compliance Analyst functions in a preventive capacity, providing compliance oversight and support to the first line of defense by reviewing policies, procedures, processes and internal controls on a regular, ongoing basis to mitigate compliance risk and ensure compliance with applicable federal lending laws and regulations.
Essential Duties and Responsibilities include the following:
- Provides lending compliance oversight and support to the assigned lines of business to mitigate regulatory compliance risk and ensure full compliance with applicable lending laws and regulations for the entire life cycle of the assigned loan.
- Acts as the HMDA Compliance subject matter expert and primary regulatory compliance contact for line of business projects, internal and external audits, compliance reviews, business initiatives and product development for the entire life cycle of the assigned loan.
- Reviews lines of business policies, procedures, processes, internal controls, loan/credit documents, disclosures, and training materials for compliance with applicable HMDA regulations for the entire life cycle of the assigned loan.
- Assists in the research, assessment, communication and implementation of applicable new regulations and/or regulatory changes for assigned lines of business and loan products.
- Assists Director of Mortgage Compliance in the preparation, coordination, research of and response to, regulatory examinations, audits, testing and monitoring reviews.
- Entering complete and accurate data per the HMDA procedures to limit errors in HMDA reporting to within acceptable error rates as prescribed by the regulatory agency
- Reviewing loan files and other data sources to ensure information being collected and reported is complete and accurate
- Preparing reports documenting the level of accuracy of the company’s HMDA data
- Entering necessary corrections and updates to HMDA data
- Providing data to the Mortgage Compliance Director as requested
- Miscellaneous job duties as assigned, including assisting with administration of the overall HMDA Program
- Researches and responds to exam, monitoring, and audit findings.
- Develops, implements, and documents corrective action plans in coordination with the appropriate lines of business and any necessary support units in a timely manner in response to internal or external findings.
- Provides specialized compliance training to lines of business as necessary.
To perform this job successfully an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. A self-starting individual possessing the following skills:
Education and/or Experience
- A four-year college degree in Accounting, Finance or related business degree.
- 5+ years Mortgage Experience Required
- Working knowledge of various compliance regulations
- Ability to effectively present complex information in a simple, logical, and brief manner and respond to questions from groups of managers, clients, customers, and general public. Good organizational, interpersonal and communication skills are necessary for maintaining effective relationships with lines of business, employees and bank management. Maintaining confidentiality, good business judgment and exercising discretion in performing daily duties are required.
Must have excellent analytical/problem solving skills. Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
Ability to compute practical self- employed analysis along with calculating ratios and defining underwriting risks. Must be able to work effectively and independently in a high-pressure environment, meet deadlines, and make sound decisions. Attention to detail and mental concentration are necessary for accurately performing tasks. The ability to change quickly from one task to another is required.
To perform this job successfully, an individual should have knowledge in Excel, PowerPoint, Word and Microsoft Access. Must be PC literate with working knowledge of word processing and spreadsheet software applications.
Other Skills and Abilities
- Must be a clear communicator
- Ability to handle multiple tasks in a time sensitive manner
- Mortgage skills preferred
- Experience with Encompass, required
- Experience with MortgageBot, preferred
- Position requires the ability to sit for long periods of time with a possibility of some travel
All statements are intended to describe the general nature and levels of work assigned to the job and are not intended to be an exhaustive list of all responsibilities, duties and skills required for personnel classified within the category.