NOW HIRING: LOAN COMPLIANCE OFFICER

About the role

The Loan Compliance Officer, under the direction of the Chief Compliance Officer (CCO), is responsible for performing compliance reviews on internal processes and procedures to support ongoing regulatory compliance with consumer and commercial lending financial regulations. The Loan Compliance Officer will report observations to the CCO for further consideration and corrective action.

Responsibilities

• Develop, administer, and monitor a program that ensures the Loan Department’s compliance with all applicable laws, regulations, and rules governing loan origination and servicing activities.
• Maintain a thorough understanding of state and federal laws and regulations related to lending compliance, including bank secrecy and anti-money laundering laws.
• Monitor changes in lending compliance laws, analyze and interpret regulatory changes, and recommend and implement internal procedure changes to maintain compliance.
• Serve as an in-house expert to provide loan compliance advice, address compliance questions, and provide recommendations and solutions related to regulatory changes.
• Perform and/or assist with compliance reviews of internal processes and procedures across business units, including mortgage, consumer and commercial loans, collections, marketing, and website.
• Input, review, and prepare annual HMDA submission, including data transfer, accuracy review, LAR regulatory review, data scrubbing, and annual submission.
• Identify, prepare, research, implement, and instruct regulatory and compliance training courses for Loan Department staff.
• Review a defined sample of loan files (pre and post-origination), track missing and outstanding items, and report aged items to management.
• Prepare regular internal reporting for the Board of Directors and compliance review reports by collecting, analyzing, and summarizing information.
• Conduct quarterly review and ongoing individual assessment of flood policies for adequate coverage.
• Administer and prepare for regulatory and internal audits, including report creation, responses, and organization of files.
• Complete annual CRA reporting and ongoing CRA efforts to identify loans qualified for community development designation.
• Conduct regular fair lending risk assessments and quarterly fair lending evaluation of lending policy exception activity.
• Administer NMLS reporting for staffing changes, including submission of new hires and terminations.
• Comply with all corporate policies, procedures, and federal regulations including BSA/AML and OFAC.

Requirements

• Bachelor’s degree or related experience required.
• 5 or more years of regulatory experience in loan documentation, processing, operations, and/or lending.
• 3–5 years of exposure to loan compliance.
• Proficiency in Word, Excel, and Outlook.
• Experience with loan documentation software such as LaserPro or MortgageBot.
• Experience with compliance software such as Ncontracts.
• Working knowledge of federal regulations including Truth in Lending Act, Real Estate Settlement Procedures Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Home Mortgage Disclosure Act, and other related regulations.
• Fully knowledgeable of the lending process, laws and regulations, credit and risk assessment of the loan process.
• Experience establishing and maintaining company compliance policies and procedures.

Skills

• Excellent interpersonal skills with the ability to develop working relations within the department and other bank locations.

Physical/Mental Requirements

Job functions are performed in an office environment. Incumbent operates various types of office equipment, secures supplies and files, communicates with customers and/or other employees, and is frequently required to move about the branch and/or office location. Physical demands involve digital dexterity and eye/hand coordination in the operation of office equipment; light to moderate lifting and carrying of supplies and files; the ability to speak and hear customers and/or other employees; body and motor skills sufficient to move between office locations; ability to learn to use complex data processing equipment and perform moderate to complex mathematical calculations; capability to work extended hours as needed.