Under the direction of the CFO, the Lending Compliance Coordinator role is a dedicated resource who will provide technical and compliance support to the credit union’s lending division.
Duties include, but are not limited to, coordinating the division’s lending compliance activities, HMDA, CRA, Fair Lending, and quality control program. The Lending Compliance Coordinator will coordinate all activities related to lending compliance; pre- and post-closing secondary market quality control requirements; the development, implementation, and ongoing monitoring, reporting, and compliance of HMDA/CRA as required by federal and state guidelines within a timely manner; and will train credit union staff as requested. The Lending Compliance Coordinator will also remain up to date on the regulatory lending environment and communicate changes as needed and maintain all policies and procedures related to lending compliance.
Duties and Responsibilities:
- Performs compliance monitoring through transaction testing and reporting and performs lending compliance audits. Assists in preparing compliance reports with identified findings and recommendations and presents findings to Senior Management – (CFO/CLO). Develops, monitors, and implements lending compliance procedures as needed.
- Identifies defective controls and provides preventative measures to ensure compliance with applicable lending compliance regulations. Partners with the lending department to mitigate identified compliance risks.
- Evaluates the credit union’s policies, procedures, products, and programs to ensure compliance with applicable laws and regulations. Makes any recommended changes to the CFO and performs document research to ensure regulatory compliance.
- Reports, at least quarterly, to the Audit Committee of the Board of Directors on current quarterly audit results, any findings, corrective actions, and status of prior open issues.
- Administers all functions of Fannie Mae, Freddie Mac, and Ginnie Mae pre- and post-closing secondary market quality control reviews. Provides reports, uploads loan files, reviews quality control findings, and collects management responses to QC findings. Performs additional quality control reviews and ensures the quality control program meets secondary market quality control requirements.
- Responsible for CRA and HMDA. Reviews loan application data for accuracy in reporting consistent with HMDA and CRA requirements. Includes file sampling, testing, monitoring, and reporting. Conducts required HMDA audits and prepares quarterly reports for management review highlighting any identified trends. Completes the HMDA worksheet and confirms data entered is accurate. Uploads data to HMDA and CRA LARS, reviews for any inconsistencies, and ensures accurate timely filing of HMDA and CRA submissions.
- Reviews and monitors the loan denial process, ensuring compliance with Adverse Action requirements for the credit union and regulators.
- Provides guidance and support to all associated business lines including development, implementation, and maintenance of all matters related to lending compliance. Develops and conducts training as needed. Collaborates with other departments (Compliance, Personnel, and Internal Audit) to direct compliance issues through appropriate channels for investigation and resolution.
- Performs additional duties as required.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily, and comply with all federal, state, NCUA, secondary market, and internal credit union policies and procedures. The qualifications below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
The position requires the ability to read and interpret documents, along with the ability to write routine reports and correspondence. The incumbent must possess the ability to speak effectively in one-on-one groups or large groups and the ability to respond to inquiries or complaints in a professional manner.
The incumbent should possess the ability to work with mathematical concepts such as statistics, fractions, percentages, ratios, and proportions to credit union situations. Must be proficient with Excel reporting and using formulaic functions for data analysis, trend analysis, reporting, and presentation.
Must have the ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret a variety of complex instructions furnished in written, oral, diagram, or schedule form.
The position requires strong experience with Loan Origination systems, ancillary loan systems, Credit Union Core operating systems, and Microsoft Word, Excel, and PowerPoint.
- Bachelor’s degree in business administration or related field.
- Minimum of 5 years of lending compliance experience.
- Possess up-to-date mortgage industry and regulations knowledge.
- Strong understanding of technology and experienced with Microsoft Office suite applications.
- Outstanding verbal and written communication skills.
- Attention to detail and ability to research.
- Ability to create policies and procedures.
- Ability to work independently with minimal supervision, think critically, and show initiative.
- Ability to exercise sound business judgment.
- Ability to work in a team environment, as well as independently, with desire to learn and grow.
- Ability to multitask while working in a fast-paced environment with strong attention to detail.
- Ability to meet and manage deadlines.
- Compliance certification and/or experience as a loan processor, loan underwriter, or QC reviewer is preferred.
Working Conditions and Physical Effort
The work environment characteristics described here are representative of those a Lending Compliance Coordinator encounters while performing the essential functions of this job.
- Regular physical exertion required to lift up to 20 lbs.
- Work performed is typically sedentary with occasional periods of walking and standing. May also require stooping, kneeling, and crouching.
- Utilizes finger dexterity to perform computer options.
- Must be capable of effective oral communication via writing, telephone, or fact to face-to-face.
- Travel between locations and attend meetings.
Mental & Visual Demands
- Mental concentration required to work with numbers and spreadsheets.
- Work requires visual effort of significant duration to review documents, drive to client locations, and interact with others.
Work Environment and Hazards
- Work environment is in a typical office setting free from noise and hazards.