Lending Compliance Program Manager

The Lending Compliance Program Manager is responsible for managing and monitoring the regulatory compliance management program in support of Tower Federal Credit Union’s Lending Division. The incumbent takes a lead role and aids in the development, implementation, monitoring, and updating process and procedures for the Lending Division in accordance with new or changing regulatory requirements to ensure compliance with real estate lending, consumer lending, collection and servicing laws and legal requirements. 

This position supports the activities of the Vice President of Lending Compliance and Regulatory Affairs and is a main contact in the department for regulatory, internal and external audit matters, and legal concerns and complaints.

The incumbent will be part of a professional team that provides leadership, guidance and support to the Lending Division in all aspects of the loan origination and loan servicing processes.

Supports compliance activities of Tower Federal Credit Union’s Lending Division inclusive of RE Lending, Consumer Lending, Loan Servicing and Collections.

As part of professional team, focused on an area of the Lending Division (RE Lending, Consumer Lending, Loan Servicing and Collections), the incumbent will provide assistance to division leadership on legal and compliance requirements, operational risks and applicable internal controls.

Implements Lending Division compliance review and monitoring designed to identify and manage regulatory compliance risk within an area of RE Lending including Consumer Lending, Loan Servicing and Collections.

Works with operational teams to ensure compliance requirements are effectively integrated into day-to-day operations along with appropriate training programs and monitoring plans for RE Lending, Consumer Lending, Loan Servicing and Collections.

Conducts investigative activities for Lending Division and delivers relevant reporting and suggests mitigation activities to the Vice President of Lending Compliance and Regulatory Affairs with respect to official member complaints regarding RE Lending, Consumer Lending, Loan Servicing and Collections.

Prepares for regulatory, internal, and external audits affecting RE Lending, Consumer Lending, Loan Servicing and Collections by gathering and providing requested documentation and following up on additional requests at the direction of the Vice President of Lending Compliance and Regulatory Affairs. 

Coordinates with department leadership to develop procedures that ensure adequate internal controls exist to mitigate gaps as determined by auditors within RE Lending, Consumer Lending, Loan Servicing and Collections.

Maintains close relationship with Lending Operational leadership regarding relevant legal/compliance implications of implementation of new products, procedures, and operational initiatives.

Stays current on emerging industry trends, regulatory changes and potential operational risks.

Supervises monthly, quarterly, and annual data collection and validation from the Lending Division departments as applicable to RE Lending, Consumer Lending, Loan Servicing and Collections.

Reviews quality assurance and other data reporting to identify problematic patterns, practices or processes that could indicate Fair Lending violations and provides regular reporting and feedback to the Vice President of Lending Compliance and Regulatory Affairs and department leaders of RE Lending, Consumer Lending, Loan Servicing and Collections.

Works with Division leaders to evaluate current Loan portfolio as part of Tower’s Multi-Dimensional Portfolio Analysis, by reviewing loan portfolio status changes and reporting on delinquent and defaulted loans to determine deficiencies and recommends corrective action. 

In partnership with Lending Division leadership, performs a review for potential misrepresentation and fraud on charged off and first payment default loans when warranted.

Coordinates with Lending Division leadership to prepare for all loans pledged as collateral in accordance Federal Reserve and Federal Home Loan Bank Collateral Verification Review requirements.

Collaborates with BSA/Fraud Department, Compliance and Risk Management offices, VPs, AVPs and Managers, that staff is trained to detect possible fraudulent activity, fair lending violations, and elder financial abuse.

Monitors participation and completion of compliance-training program for Lending Division departments including RE Lending, Consumer Lending, Loan Servicing and Collections.

Interacts with other departments that use applicant or employee credit score information to monitor permissible purpose.

Maintains Vendor partnerships and gains required approvals for contractual renewal, changes or updates.

Provides input for business continuity plans and is responsible for implementing disaster recovery procedures should the need arise as remote electronic service will be critical should there be a disaster. Participates in disaster recovery testing of all RE Lending services.

Provides timely and accurate information to evaluate progress towards goals and objectives, to include developing, analyzing and presenting statistical and written reports on an ongoing basis

Participates in designated projects and action items as assigned by the Vice President of Lending Compliance and Regulatory Affairs.

Responsible for writing Annual Performance Reviews for all direct reports and conducting annual performance meeting with each individual.

Arranges and attends regular team meetings with reports to promote teamwork and cooperation and to provide feedback on successes and failures found in the day-to-day workflow and processes.

Accesses Member personal and financial information only as required by the job. Maintains confidentiality and security of all Member information.

Possession of bachelor’s degree in business, finance, law or related area of study

Five to eight years of progressively responsible experience in Lending operations, quality control, or compliance.

Or combination of education and experience.

Completion of training in lending regulatory compliance, practices and operations highly desired.

Experience should include successfully demonstrated:

·         In-depth knowledge of State and Federal laws pertaining to mortgage lending and consumer lending industry, loan servicing, collection activities (i.e. TRID, RESPA, HMDA, TILA, ECOA, SCRA, MLA, other Fair Lending laws, FDCPA, TCPA, FCRA, etc.) especially as applied to federal credit unions.

·         In-depth knowledge of conventional, correspondent and private investor loan programs and demonstrated understanding of the secondary mortgage market requirements.

·         Analytical decision-making ability with attention to detail

Ability to research legal and regulatory requirements affecting real estate and consumer lending.

Ability to manage projects from initiation to completion.

Ability to work under stress and to maintain personal and team productivity.

Ability to resolve problems and deal with a variety of situations where limited guidance exists.

Ability to create new process and procedures as dictated by system changes and updates.

Ability to work with mathematical concepts with a high degree of accuracy.

Ability to interpret, understand, and apply Federal and State lending regulations, Tower Federal Credit Union Lending Guidelines and FNMA/FHLMC/Investor Guidelines.

Ability to work and communicate effectively and professionally with Senior Management, Regulators and other departmental leaders.

Ability to work independently, to identify/solve problems, to seek guidance when necessary, and to resolve them in an expeditious manner.

PC Proficient to include Word, Excel, Outlook, internet, e-mail, DNA/CORE, FICS, loan origination software, and applications, as needed.

Ability to adapt to changes within internal, market or regulatory environments.

Ability to exercise prudent judgment in decision-making

Ability to work within stringent time constraints and in a high-pressure environment.

Ability to provide and receive constructive feedback from management.

Ability to manage a team and demonstrate the ability to evaluate and provide guidance to others.

Ability to represent the credit union to members and third-party strategic partners in a professional manner.

Working knowledge of Tower Federal Credit Union’s first mortgage and home equity products, consumer lending products, UW guidelines and processing procedures to ensure compliance with all current regulatory requirements and to ensure that the loans are meeting all CFPB, NCUA, Tower Federal Credit Union, MI and investor guidelines and rules.

Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC. 

Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.

Ability to work the hours needed, which may extend beyond the defined work schedule when operating conditions dictate.

Ability to lift up to 20 lbs., with or without assistance, in compliance with ADA.