Responsible for the monitoring and testing of processes within the Loan Servicing Department. Responsible for reviewing departmental policies and procedures, and performing a risk assessment focusing on gaps or lack of controls. Implement a 12-month matrix of functions in Loan Servicing with a calendar of processes to be monitored or tested. Present management with monthly reports of findings.
• Periodically review department procedures for controls and detect possible gaps or deficiencies.
• Create and maintain a process map of functions within each department.
• Maintain and complete a checklist of items to be monitored or tested, identify an appropriate sampling, and perform quality assurance testing on activities related to the servicing of UNFCU loans. This will include, but is not limited to, monitoring the portfolio for negative amortization, payment allocation, extreme rate testing, accurate accruals, escrow disbursements, timely mortgage satisfactions, loan payoff requests, timing of notifications, etc.
• Communicate the scope and present results of the testing in a professional way to stakeholders.
• Develop and maintain procedures for monitoring and testing of loan servicing functions.
• Create a risk assessment of gaps and controls for Loan Servicing.
• Produce weekly delinquency reports.
• Produce reports of activity, compliance, efficiency, KPI and complaint tracking for the department.
• Participate in UNFCU training programs.
• Perform other duties as requested by management.
TYPE & AMOUNT OF EXPERIENCE:
• Bachelor’s degree and 2-4 years of experience in mortgage compliance, monitoring and testing with an understanding of applicable regulations or state laws of processes to be monitored or tested
• Experience in a risk management role preferred
• Knowledge of consumer loan regulations (Regulations Z, E, N, P, X and V)
• Knowledge of UDAAP, Fair Lending, FDPA, Abandoned Property Laws, state satisfaction recording laws, and other state mortgage laws
• Proficiency in applicable software (familiarity with FISERV DNA, if possible)
• Excellent analytical skills
• Strong organizational, multi-tasking and time-management skills
• Excellent communication skills, both verbal and written
• Strong attention to detail
• Professional appearance and willingness to work flexible work hours
• Standard office conditions
In addition to any specific job requirements in connection with Bank Secrecy Act and/or OFAC (BSA), employee must (i) be aware of BSA matters commensurate with the position; (ii) report any suspicious activity to the manager or compliance department; and (iii) satisfactorily complete any required BSA training.