Loan Quality Control Representative II

4 weeks ago


Riverside, United States SchoolsFirst Federal Credit Union Full time
What You’ll Be Doing Responsible for intermediate level loan quality control functions with an emphasis on either Real Estate Loans.

Responsible for building consistency and excellence in operations and appropriate focus across loans operational areas. Identifies and assists in prioritizing and implementing solutions to mitigate business and operational risks.. Ensures appropriate compliance with SOPs and is responsible for analyzing and reporting compliance and Standard Operating Procedure (SOP) exceptions. Assists with special projects, systems, and product enhancements necessary to meet compliance tolerance levels. Is a resource and technical lead and provides direction and training to teammembers.
  • Conducts quality control reviews of loans as part of the organizations first line of defense and KRI testing activities. Loan reviews consist of an end to end review of the loan cycle including, application submission, underwriting, notification, funding, servicing, and collections.
  • Identifies inaccuracies, excessive variances or patterns of compliance or risk exceptions which may violate federal laws and internal policies.
  • Prepares detailed case summary reports extrapolates findings, and provides them to management for review, rebuttal, and when appropriate, remediation.
  • Responsible for monitoring and ensuring standard operating procedures, lending,Member communications, letters, disclosures, quality control audits, and funding checklists are updated in a timely manner to incorporate all compliance changes and quality assurance requirements.
  • Proactively identifies and develops systemic and/or process related enhancements to new and existing processes to adhere to compliance and risk tolerance levels.
  • Develops and executes action plans to improve operational controls and mitigate operational risk while maximizing Member service.
  • Serves as a subject matter expert on the specified system(s) or application(s) and serve as a point of contact between the business unit and Information Technology.
  • Research current laws and regulations through government and other journals, publications and manuals.
  • Responsible for writing, documenting and testing technical requirements or creating new process flows.
  • Ensures lending quality assurance processes are updated in a timely manner to incorporate all applicable regulatory compliance changes and quality assurance requirements.
  • Ensures quality assurance software is maintained and updated as necessary.

Additional Job Functions

 
  • Performs other duties as assigned
  • Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions

Qualifications

  • High School Diploma or GED required
  • 3-5 years consumer/mortgage lending origination/processing/Servicing experience required
  • Previous Internal loan process knowledge preferred
Knowledge, Skills, and Abilities
  • In-depth knowledge and understanding of all mortgage loan products, guidelines of the Government Sponsored Enterprises; loan origination systems; loan documentation; loan documents and disclosures; loan origination, processing, underwriting, and closing standards and practices; property appraisal standards; and regulatory compliance requirements
  • Overall in-depth product and compliance knowledge desirable
  • Good working knowledge of MS Word and MS Excel
  • Strong communication and interpersonal skills, with the ability to clearly communicate audit subject matter at cross-functional levels
  • Strong organizational skills with the ability to work independently



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