Lending Compliance Counsel (Hybrid)

About the role

This role applies legal, regulatory, compliance, and financial services product expertise to support the design, maintenance, testing, and delivery of compliant Compliance Solutions products and solutions.

Responsibilities

• Assists in ensuring that Compliance Solutions content complies with federal laws and regulations, other governing authority requirements, and industry best practices, and that it creates enforceable legal instruments.
• Affirms that products and solutions meet or exceed the wants and needs of current and prospective clients and business partners.
• Defines product functionality, including language, data, and software functionality, product/release documentation, and all business rules required by the market.
• Identifies, creates and maintains all required data including its structure and metadata, to drive compliant, warranted functionality of products that satisfies market needs and industry best practices.
• Conducts product testing and review to evaluate changes and ensure development work conforms to product requirements defined.
• Supports both internal and external inquiries about assigned product matters.
• Educates internal staff, current and prospective business partners and clients on product design, upcoming product updates and development efforts, and industry trends.
• Defines product functionality, including language, data, and software functionality, product/release documentation, and all business rules required by the market.
• Drafts clear and concise written product requirements that accurately describe the required functionality and content.
• Identifies any product requirement issues (e.g., open issues, blockers) requiring resolution from or impacting other functional groups.
• Escalates any critical issues related to product requirements.
• Identifies all impacted product components and specifies the required change for each component.
• Identifies all transaction scenarios where product updates apply and ensures these are covered or addressed in the written requirements.
• Completes all information required in the product requirements template in a timely manner.
• Addresses, in a timely manner, any product requirements modifications required arising from quality control tests and transaction analysis.
• Identifies, creates and maintains all required data including its structure and metadata, to drive compliant, warranted functionality of products that satisfies market needs and industry best practices.
• Understands what and how data is used within assigned subject or product and its effect or impact to related transactions.
• Creates and maintains the data and associated metadata (e.g., labels, short help, long help, mapping path etc.) for assigned product requirements adhering to data management conventions and protocol (i.e., content protocol) and required processes.
• Analyzes data usage and identifies data conflicts within or across product libraries and/or inappropriate use of data across products.
• Collaborates as needed in resolving data conflicts identified during the product implementation and testing phase.
• Conducts product testing and review to evaluate changes and ensure development work conforms to product requirements defined.
• Collaborates with quality control team in identifying product test case scenarios required to fully vet product requirements.
• Identifies product specific scenarios that should be included or added to use cases and ensures correct results are generated.
• Validates product development or change implementation to ensure conformance of implementation to requirements identifying any breaks in outcome or product behavior (e.g., incorrect functionality or inappropriate format).
• Assists in troubleshooting issues presented or raised by clients or other functional groups particularly in determining gravity/risk exposure of a script or software limitation versus.
• Conducts transaction testing for all product changes and updates assigned.
• Provides support for both internal and external inquiries about assigned subject matters.
• Reviews and addresses logged and pending requests for changes on a regular basis and in a timely and professional manner.
• Drafts communication that demonstrates a clear understanding of the issue, the solution, and how the decisions will impact the product.
• Proactively manages assigned IRs and informs staff or clients, where appropriate, on the status of an outstanding issue-even if it is still being researched.
• Creates accurate and informative product change documentation for external users.
• Proactively educates internal staff and current and prospective business partners and clients on product design, upcoming changes, and industry trends for assigned subject matters.
• Collaborates with internal teams on creating product documentation as needed.
• Collaborates with internal teams in developing subject matter training for internal and external users.
• Proactively informs internal staff regarding legal and regulatory changes, industry trends, and other information that will lead to product design changes.
• Provides content for the Community Lounge, Compliance Solutions quarterly newsletter, and other publications to demonstrate Compliance Solutions product/subject matter and industry expertise.

Qualifications

• Law degree (required)
• Licensed to practice law (preferred)
• Generally, 5 plus years of (a) business principles, banking, legal and compliance knowledge directly related to the subject matters and products; (b) experience directly related to the financial industry (i.e., banks, CU, FinTech, etc.), banking exposure/regulatory knowledge; and overall work/practical experience and/or academic background.
• Familiarity or specific experience with one or more of the following preferred: consumer and commercial lending, mortgage lending, electronic banking, privacy, adverse action, disclosures, and financial institution compliance requirements, including laws and regulations such as TILA/Reg Z, RESPA/Reg X, ECOA/Reg B, FCRA, HMDA/Reg C, EFTA/Reg E, GLBA, UDAAP, BSA/AML, state lending and usury laws, and applicable CFPB, OCC, FDIC, Federal Reserve, NCUA, and state regulator guidance.
• Strong communication skills both verbal and written.
• Demonstrated ability to work as part of integrated teams in a fluid environment.
• The ability to manage details and multi-task in a fast-paced environment.
• The ability to develop long term close working relationship based on trust and respect.
• Strong analytical, creative thinking, interpretation, and problem-solving abilities.
• Proficiency in basic Microsoft™ programs (including Excel™).
• Excellent time management skills.