Senior Quality Assurance Analyst-Consumer Lending

$1000 Signing Bonus effective 1/20/2024

Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.

HOURS FOR POSITION: Monday -Friday 8:00am-4:30pm- Weekend or Holiday hours may be required as needed. Schedule will be hybrid

Summary of Position

The Senior Quality Assurance Analyst is responsible for performing a thorough compliance and quality control post-closing review of consumer loans, lines of credit and credit cards to ensure adherence to Tower Federal Credit Union (TFCU) policies, procedures and underwriting guidelines as well as State and Federal regulatory requirements. The position functions as the lead analyst, managing the daily loan application quality control and fraud detection workflow from various accession points throughout the life-of-loan cycle.

Responsibilities include: strategizing with Sales & Support, Credit Operations and Credit Card Operations to develop the tools necessary to execute a conscientious review of consumer loans; investigating potential fraud and determining if further examination is required by the BSA Department; collaborating with other Quality Assurance Analysts by sharing ideas, solutions, and strategies that are applied through all of Tower’s lending channels; communicating review results and recommended corrective action to Senior Management, Lending Management, Internal Audit and staff; mentoring and coaching fellow team members and new hires; and uphold Tower’s consistent standards for granting credit to members and preventing fraud.

Ultimately, as a leader within the department, the Senior Quality Assurance Analyst will ensure the quality assurance team routinely demonstrates expert knowledge of policies, processes, and systems as well as engage industry best practices to promote deepening of the their business acumen.

Principal Accountabilities and Functions

Monitors/measures workload, quality and quantity of output to ensure resources are properly aligned and adjusts resources and/or processes when appropriate.

Executes thorough compliance post-closing reviews of consumer loans as needed to ensure business needs are met and compliance with TFCU policies, procedures and underwriting guidelines as well as State and Federal regulatory requirements to include but not limited to the NCUA, CFPB, Dodd-Frank regarding ATR and the Card Act, Reg Z and the Military Lending Act and to provide feedback with a list of any/all findings.

Maintains a thorough knowledge of types of fraud, performs fraud investigations and communicates regularly with the Consumer Lending Compliance & Quality Assurance Manager and the AVP BSA Compliance Officer regarding ongoing fraud cases.

Assists with and provides input to performance evaluations.

Serve as a subject matter expert on a variety of fraud management tools and systems used to identify and investigate suspicious financial and non-financial activity on a vast range of products and services.

Serve as a subject matter expert for Fraud Detection and Prevention processes by providing input on business requirements for projects or process changes and/or updates as needed.

Lead development and implementation of effective fraud avoidance, detection, and prevention strategies to mitigate fraud losses while ensuring an appropriate balance between risk and customer experience.

Manages the preparation of monthly reports reflecting the quality assurance review results with recommendations for corrective action and focused team training when necessary.

Acts as Quality Assurance liaison for internal action items and other credit union-wide projects by providing materials, direction and analysis.

Initiates team’s second review process and analysis of Withdrawn/Cancelled/Declined consumer loan applications in order to determine Reg B violations, assess risk and provide recommendations to management for an alternate solutions.

Tracks common and consistent errors made by Underwriters, Processors and/or Funders during the loan origination process and provides constructive underwriting feedback to Management, when appropriate.

Mentors team members and helps to source and manage new employees and temporary hires.

Delegates projects and tasks among Quality Assurance Team, keeping schedules and deadlines in mind.

Verify loans have been boarded properly in the core system and/or transferred to any third-party servicing systems.

Cross-trained in several tasks and platforms to assist and act as backup for Manager of Compliance and Quality Assurance, Quality Assurance Analyst, and Consumer Loan Underwriter.

Performs related duties assigned by the Manager.

When workload demands, the Senior Quality Assurance Analyst may perform the following tasks: Works closely with Consumer Loan Originations, Branches and/or the member, as applicable, in obtaining any missing closing documentation, any missing signatures on the closing documentation, or to obtain corrected closing documentation as necessary. QA Analyst must ensure that follow up is regular and timely on any outstanding items needed so that TFCU is able to perfect its lien, if applicable.

Maintains a thorough knowledge of TFCU underwriting guidelines and requirements ensuring all loans underwritten are in compliance.

Maintains a thorough knowledge of all state and federal regulatory requirements ensuring all loans underwritten are in compliance.

Analyzes all information on the loan application matching it to the documentation in the loan file.

Reviews debt listed on credit report, calculates income, determines available assets, calculates debt to income ratio and loan to value in order to ensure loan meets all guidelines and other applicable requirements.

Reviews and updates all information and data on the loan in the loan origination system as necessary.

Enters loan conditions in the loan origination system and update the loan status accordingly.

Documents conditions, conversations, and observations within the loan origination system of record.

Communicates file status and/or any problems that arise with all appropriate parties.

Recommends loans for denial to Management when loans cannot be restructured or counter-offered to meet guidelines.

Required Qualifications

Possession of a HS Diploma or equivalent and 5 years of experience in progressively responsible consumer loan underwriting, quality assurance, or fraud investigation/prevention related roles.

Experience to include at least two years of financial institution experience in fraud investigation, collections, chargebacks and/or investigating/analyzing account activity.

At least two years of successful experience that demonstrates the ability to interact directly with customers with tact, sensitivity, respect and confidence.

Or, an equivalent combination of education and experience

Familiar with the operation of major credit union products, services and systems.

Experience supporting risk/compliance initiatives within the business.

Leadership experience including being proactive, coaching, mentoring, leading by example, fostering teamwork, emphasizing 360 degree communication, willingness to learn/teach, and developing a replacement.

Highly independent, organized, and able to work autonomously in a fast-paced and time sensitive setting.

Ability to communicate investigative results and evidence to those concerned in a professional, prompt, impartial, confidential, and accurate manner.

Knowledge of State and Federal laws relating to check processing (UCC, Regulation CC, Check 21), rules and regulations pertaining to chargebacks, arbitration and compliance (MasterCard Worldwide rules, Regulation E and Regulation Z), or the ability to acquire this knowledge within six months.

Professional certifications or designations preferred (e.g., CFE, CAMS, ACAMS, CFCS).

Knowledge, Skills and Abilities

Ability to exercise prudent judgment in decision-making and protection of member confidential information.

Ability to work remotely, independently, and autonomously, as well as part of a cohesive team.

Excellent verbal and written communication skill.

Excellent time management, prioritization of tasks, and ability to meet deadlines with little supervision.

Proficient in Microsoft Windows, Microsoft Suite to include Word, Outlook, Excel, Access, PowerPoint, Visio, along with other analytical solutions.

Ability to analyze and interpret large volumes of quantitative data.

Ability to execute a range of complex tasks and analyses.

Ability to multi-task yet maintain attention to detail.

Advanced verbal, written, interpersonal, and presentation skills to communicate clearly and concisely technical and non-technical information to all levels.

Ability to make decisions independently with minimal guidance from management.

Advanced research, analytical, and problem-solving skills.

Ability to develop solutions for problems with concrete and/or abstract variables.

Ability to read, analyze and interpret government regulations and business periodicals, professional journals, technical procedures, statistical/system reports.

Ability to write reports, business correspondence and procedures for a diverse audience.

Ability to present thorough and well thought out recommendations to top management, Board of Directors or public groups.

Ability to persuade others to consider merits of course of action.

Ability to rapidly define problems, collect data, establish facts and draw valid conclusions.

Ability to develop solutions for problems with concrete and/or abstract variables in a variety of situations.

Ability to identify cause and affect relationships and evaluate risk vs. potential return.

Ability to develop and clarify means and methods to implement with assigned staff and others.

Ability to work with mathematical concepts that apply to trend analysis, recommendations and proposals.

Ability to initiate long and short term planning.

Ability to effectively manage multiple complex projects from initiation to completion.

Ability to develop action plans and to organize workload to accommodate competing deadlines.

Ability to work productively and professionally under stress.

Ability to provide constructive feedback to others.

Ability to resolve controversial or delicate matters skillfully.

Ability to effectively negotiate on behalf of the organization.

Ability to work with various members of the organization at multiple levels, to negotiate, decide and implement appropriate solutions.

Ability to motivate and influence others to take action.

Ability to facilitate group discussion and gain consensus.

Ability to maintain sensitive and confidential information.

Ability to interact effectively and professionally with colleagues and supervisors.

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.

Working Conditions

Subject to periodic post hire credit checks.

Ability to lift up to 15 pounds with or without assistance.

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

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