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About the position
The Compliance Analyst is responsible for ensuring that all mortgage lending activities within the organization comply with federal, state, and local regulations. This role involves monitoring, analyzing, and reviewing the company’s mortgage operations to identify and address potential compliance issues, mitigate risks, and ensure adherence to applicable laws and regulations.
Responsibilities
- Review and analyze mortgage lending policies, procedures, and practices to ensure compliance with regulations such as TILA, RESPA, and HMDA.
- Stay updated on changes in mortgage regulations and industry standards to ensure ongoing compliance.
- Conduct regular audits of mortgage files, processes, and documentation to identify compliance issues or discrepancies.
- Monitor ongoing compliance with established regulations and company policies.
- Assist in the development, revision, and implementation of compliance policies and procedures.
- Provide recommendations to improve compliance practices and reduce risk exposure.
- Conduct training sessions for staff on compliance requirements and updates to laws or regulations.
- Serve as a resource for employees regarding compliance-related questions and issues.
- Prepare detailed compliance reports for management, highlighting compliance issues, audit results, and areas for improvement.
- Document and track all compliance activities, including audit findings and corrective actions.
- Assess potential risks related to non-compliance and develop strategies to mitigate those risks.
- Collaborate with other departments to ensure cross-functional compliance.
- Serve as a liaison with regulatory bodies during audits, examinations, and inquiries.
- Ensure timely and accurate submission of required regulatory reports and filings.
- Ensure preventative measures are carried out to comply with current rules, regulations, and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC, and other AML-related issues.
- Identify, evaluate, monitor, and make recommendations to the Risk Management Committee regarding risks to earnings or capital arising from violations or nonconformance with laws, rules, regulations, and ethical standards.
- Perform other duties as assigned.
Requirements
- Bachelor's degree preferred.
- Minimum of 5 or more years of residential compliance experience in regulatory compliance at a bank, mortgage lending company, or government agency.
- Proficiency using Microsoft Office 365 products including MS Word, MS Visio, MS Excel, MS Teams, and MS PowerPoint.
