The Retail Lending Compliance Specialist is responsible for research, data gathering, tracking and resolving compliance and audit related items pertaining to consumer lending. This position has the primarily responsibility of performing review of RE secured transactions to confirm HMDA status. Responsibilities include reviewing HMDA data, correcting errors, compiling reports and maintaining the related internal policies and procedures. This position will work with the leaders of the retail administration team to manage the ongoing internal and external audit and compliance reviews. This position will coordinate with the risk management teams to maintain an effective quality control program which measures the regulatory and policy compliance of the loan process from application to closing of consumer loans.
Responsibilities
- HMDA
- Perform review of RE secured transactions to determine HMDA status; make necessary corrections
- Complete monthly export from LP to Compliance Reporter; provide to Compliance team
- Perform Monthly/Quarterly Validation of reportable and non-reportable RE secured transactions
- Collaborate with Retail Documentation Team Manager, Retail File Review Supervisor, Retail Underwriting Manager and Retail Training Manager to research questions and find resolutions.
- Communicate deficiencies identified in reviews
- Internal and External Audits
- Responsible for tracking in-process and upcoming audits, to include a schedule and associated due dates for responses.
- Collaborate with team members to gather data for inquiries received by audit or compliance during the audits.
- Collaborate with team members to conduct research pertaining to audit findings and audit responses.
- Coordinate and collaborate with team members to draft responses for consumer risk management teams.
- Assist with tracking and implementation of appropriate changes in response to audit findings.
- Assist with product and policy development by gathering resources and collaborating with legal and compliance teams.
- Maintain a current and thorough working knowledge of the regulatory, state and federal requirements affecting consumer loans and loan policies.
- As needed, develop training for compliance-related changes or improvements for consumer lending employees.
- Develop and monitor a quality control process which measures the compliance and quality of consumer lending policies, guidelines and procedures.
- Work with risk management to ensure all compliance requirements are met and updated.
- Collaborate with management to respond to audit reports, including corrective action plans, in a timely manner.
- Participate in special projects, additional duties and responsibilities as assigned.
- Maintain proficiency with PC software used by the bank for e-mail, word processing and spreadsheet work as needed for tasks at hand.
- Attend appropriate consumer lending meetings as scheduled.
- Provide a superior level of customer service to all internal and external customers. Answer phone calls and email messages, research questions, and provide prompt, professional responses.
Bell Bank Culture, Policy and Accountability Standards:
- Know by name and face as many customers and employees as possible, calling them by name as often as possible.
- Know and practice LOCBUTN, our Golden Rules, and Bell Bank Customer Service Standards.
- Know, understand, and live the company values and bottom line.
- Conduct activities consistent with established Bell Bank policies, procedures and systems, the Bell Bank Employee Conduct policies, the Bank Secrecy Act and all applicable state and federal laws and regulations.
- All employees are responsible for information security, including compliance with policies and standards which protect sensitive information.
- Prompt and reliable attendance.
- Perform other duties as assigned.
Education, Experience, and Other Expectations
- Bachelor’s degree in business administration or similar field; or equivalent experience.
- Minimum of two years of experience and extensive knowledge in all aspects of consumer loan documentation and/or regulations.
- Experience with HMDA preferred.
Skills and Knowledge
- High level of organization, with attention to detail and accuracy.
- Utilize problem solving skills and external and internal resources to resolve issues as efficiently as possible.
- Logical thinking and analytical skills for understanding complex issues and converting that understanding into action with effective written and oral communication skills.
- Ability to deal with multiple tasks and deadlines.
- Ability to be flexible and adapt well to change.
- Ability to provide professional support and present a positive image of the department and Bank in all circumstances.