Mortgage Compliance Analyst
The role
The position is responsible for the analysis and validation of Home Loans Loan Origination System (LOS) data used in HMDA reporting, ensuring the LOS reflects accurate data. This role involves close collaboration with business stakeholders to identify and resolve risk issues. A proactive approach to problem-solving is essential, focusing on both immediate issue resolution and the implementation of safeguards to prevent recurrence.
Outline the reason the job exists here. Document contributions of the role that contribute to the organization's overall mission.
This role plays a crucial part in maintaining the integrity and accuracy of HMDA data, which is vital for regulatory compliance and public transparency. By ensuring that the data accurately reflects loan applications, the role supports the broader mission of the organization to provide fair and equitable access to financial services for all members.
What you’ll do
- HMDA Data Validation: Review and validate HMDA data on loan applications to ensure accuracy and compliance with regulations.
- Problem Solving & Root Cause Analysis: Utilize structured methodologies to investigate operational issues, identify root causes, and develop sustainable solutions for risk resolution.
- Risk Mitigation & Control Design: Evaluate process-related risks, then design and implement controls and preventative measures to ensure regulatory compliance and adherence to internal policies.
- Business Requirements Gathering: Collaborate with stakeholders to gather and document comprehensive business requirements for process changes and system enhancements, specifically for risk mitigation.
- Test Scenario Development & Automation Support: Partner with business users and IT to define business-focused testing scenarios for system changes and support their automation to ensure thorough validation and minimize post-implementation issues.
What does the worksite or workstation look like? Is this a remote role or in office?
The role is currently based in an office setting. Remote work is not currently available.
What are the essential functions and expectations for this role?
- Proactively identify and resolve operational issues related to HMDA data validation.
- Collaborate with business stakeholders to gather and document comprehensive business requirements for process changes and system enhancements.
- Develop and implement controls to mitigate risks and ensure regulatory compliance.
- Participate in testing scenarios to ensure thorough validation and minimize post-implementation issues.
What are the expectations and expected results for this role?
- Ensure all HMDA data is accurate and compliant with regulations.
- Resolve operational issues promptly and effectively.
- Implement and maintain controls to prevent recurrence of risk issues.
- Support continuous improvement in processes and systems through testing and documentation.
Is overtime or extra-hours work often needed/required?
Overtime may be required during high-volume periods or when addressing urgent issues.
What you’ll need
- Mortgage Experience
- Organized and Attention to Detail
- Problem Solver
- Stakeholder Management (ability to communicate across all of mortgage)
What experience and qualifications are required to perform well in this role?
- Minimum of 1 year experience in a similar role.
- Experience with HMDA data validation and compliance.
- Strong analytical and problem-solving skills.
- Ability to work collaboratively with cross-functional teams.
Nice to have
- Experience in Risk Issues
- Automated Testing
Education, Training, or Experience Requirements
- Bachelor’s Degree in Finance, Economics, Statistics, or a related field.
- Experience with HMDA data validation and compliance.
- Strong analytical and problem-solving skills.
- Ability to work collaboratively with cross-functional teams.
Why you’ll love working here
- Competitive salary packages and bonuses
- Comprehensive medical, dental, vision and life insurance benefits
- Generous vacation and holidays
- Paid parental leave for eligible employees
- 401(k) and education on retirement planning
- Tuition reimbursement on approved programs
- Monthly contribution up to $200 to help you pay off your student loans
- Great health & well-being benefits including: telehealth parental support, subsidized gym program
Compensation And Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location. To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
Equal Employment Opportunity
We are committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law. The Company hires the best qualified candidate for the job, without regard to protected characteristics. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records. New York applicants: Notice of Employee Rights