Mortgage Compliance Analyst
Arvest Bank, Tulsa, OK, United States
Pay is based on a number of factors including the successful candidate’s job-related knowledge and skills, qualifications, and prior experience. Arvest offers a comprehensive suite of benefits, including a full range of health and life, financial, and wellness benefits.
Position is remote flexible and preferred at 525 S Main St in Tulsa, OK. However, location is flexible at other Arvest Facilities for residents of AR, MO, KS, or OK and will be determined upon hire.
Position requires availability Monday through Friday from 8 am to 5 pm with the ability to work additional hours as needed.
The ideal candidate is a detail-oriented compliance professional with knowledge of mortgage origination regulations.
Preferred skills: Experience with Encompass, Google Suite, Microsoft Suite, and issue tracking systems such as SharePoint and Archer.
SUMMARY The Mortgage Compliance Analyst ensures that both the AMC and CMC Practices and Procedures are fully in line and compliant with Fannie Mae, Freddie Mac, FHA, VA and Rural Development, policies and guidelines, as applicable, and including any functions covered by the Consumer Financial Protection Bureau (CFPB), federal/state law and regulations. The Mortgage Compliance Analyst must have a current comprehensive working knowledge of the mortgage process and procedures including, but not limited to, origination and servicing functions, borrower communication, notification and documentation requirements and borrower account processing. The incumbent must remain current on changes in the mortgage industry and ensure proper dissemination and implementation of those changes in order to protect the companies from agency and regulatory servicing violations and potential monetary fines and other penalties.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Perform regular compliance self-assessments to ensure conformity with agency and regulatory requirements and guidelines.
Maintain a current comprehensive working knowledge of all mortgage processes and procedures as directed by Fannie Mae, Freddie Mac, FHA, VA and Rural Development, as applicable, and any related federal/state laws and regulations, including those originating from the CFPB, including all changes/updates.
Review and interpret compliance changes/updates to current processes and procedures. Determine how the changes/updates affect the various business units and make recommendations to manager to revise as needed to stay in compliance.
Research and analyze state specific statutes, regulations, constitutions and any other government laws and regulations, as applicable, to determine each state’s requirements for licensing/exemption requirements, restrictions and real estate lending practices.
Manage the reporting process and complete the companies’ quarterly Call Reports in the NMLS database. Work with executive management and directors to obtain and maintain MU2 information in NMLS.
Work with the appropriate functional areas of both AMC and CMC to plan, coordinate and implement processes and/or any changes to remain compliant. Additionally, analyze management responses received for identified issues for adequacy of response and remediation.
Coordinate with the training departments to implement training for the respective staff to ensure that processes and/or any changes are appropriately and effectively communicated through classroom or web-based training.
Monitor, follow-up, and ensure completion of the implementation of agency and regulatory changes.
Facilitate the execution of the Mortgage Compliance Program, including policy and procedure review, consulting, testing, monitoring, and complaint analysis. Additionally facilitate the security incident process.
Ensure that all HMDA reportable loans are extracted from the Loan Operating System and contain all required fields to be reported on an annual basis. Monthly and quarterly review of all data for reporting is completed by comparing the data to imaged documents.
Track department projects through appropriate software.
Provide monthly and quarterly reports to management regarding pending, in process, and completed projects and implementations.
Assist in compliance exams and external or internal audits, as needed.
Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
TEAM ACCOUNTABILITIES
Support and uphold the Arvest Mission Statement.
Uphold the Arvest Code of Ethics and ensure that confidential information is safeguarded.
Maintain a high level of cooperation and rapport with all associates in order to ensure accurate and efficient operations and service.
Formulate and communicate new ideas and suggestions that will improve profitability and efficiency for the company’s overall operation.
Promote professionalism at all times.
QUALIFICATION REQUIREMENTS
Associates Degree or equivalent related experience required.
3 years mortgage or mortgage experience required. Working knowledge of RESPA and TILA preferred.
Recent general federal regulatory compliance preferred.
OTHER SKILLS AND ABILITIES
Must be able to read, retain, process, analyze and distribute large amounts of information.
Must be able to arrive at work on time, work on site and have regular work attendance.
Must be able to work cooperatively with other co-workers regardless of personality, presence or communication style.
Must be able to perform several tasks at once.
Must be able to organize, rotate, and coordinate multiple and changing priorities and workflow so all deadlines are met.
Must be detail-oriented.
Must be able to work in a stressful atmosphere.
Must be able to occasionally work overtime.
Must be able to greet others cordially.
Must be able to verbally communicate with all other associates.
Must possess excellent interpersonal skills and be able to communicate effectively with others with tact and patience on a daily basis.
Must be able to operate telephone, copiers and FAX machines.
Must be able to move from department to department to attend meetings.
Must be able to operate personal computer keyboard and software in order to create reports, schedules and other appropriate documentation.
PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
While performing the duties of this job, the associate is regularly required to read, talk, hear and sit. The associate occasionally is required to stand and walk; use hands to finger, handle, or feel objects; bend; and reach with hands and arms.
The associate may occasionally lift and/or move up to 25 pounds and must be able to reach and carry.
Specific vision abilities required by this job include close and color vision and the ability to adjust focus.
WORK ENVIRONMENT The work environment characteristics described here are representative of those an associate encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
GRADE 13
PAY RANGE $22.50 - $28.10 per hour
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Position is remote flexible and preferred at 525 S Main St in Tulsa, OK. However, location is flexible at other Arvest Facilities for residents of AR, MO, KS, or OK and will be determined upon hire.
Position requires availability Monday through Friday from 8 am to 5 pm with the ability to work additional hours as needed.
The ideal candidate is a detail-oriented compliance professional with knowledge of mortgage origination regulations.
Preferred skills: Experience with Encompass, Google Suite, Microsoft Suite, and issue tracking systems such as SharePoint and Archer.
SUMMARY The Mortgage Compliance Analyst ensures that both the AMC and CMC Practices and Procedures are fully in line and compliant with Fannie Mae, Freddie Mac, FHA, VA and Rural Development, policies and guidelines, as applicable, and including any functions covered by the Consumer Financial Protection Bureau (CFPB), federal/state law and regulations. The Mortgage Compliance Analyst must have a current comprehensive working knowledge of the mortgage process and procedures including, but not limited to, origination and servicing functions, borrower communication, notification and documentation requirements and borrower account processing. The incumbent must remain current on changes in the mortgage industry and ensure proper dissemination and implementation of those changes in order to protect the companies from agency and regulatory servicing violations and potential monetary fines and other penalties.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Perform regular compliance self-assessments to ensure conformity with agency and regulatory requirements and guidelines.
Maintain a current comprehensive working knowledge of all mortgage processes and procedures as directed by Fannie Mae, Freddie Mac, FHA, VA and Rural Development, as applicable, and any related federal/state laws and regulations, including those originating from the CFPB, including all changes/updates.
Review and interpret compliance changes/updates to current processes and procedures. Determine how the changes/updates affect the various business units and make recommendations to manager to revise as needed to stay in compliance.
Research and analyze state specific statutes, regulations, constitutions and any other government laws and regulations, as applicable, to determine each state’s requirements for licensing/exemption requirements, restrictions and real estate lending practices.
Manage the reporting process and complete the companies’ quarterly Call Reports in the NMLS database. Work with executive management and directors to obtain and maintain MU2 information in NMLS.
Work with the appropriate functional areas of both AMC and CMC to plan, coordinate and implement processes and/or any changes to remain compliant. Additionally, analyze management responses received for identified issues for adequacy of response and remediation.
Coordinate with the training departments to implement training for the respective staff to ensure that processes and/or any changes are appropriately and effectively communicated through classroom or web-based training.
Monitor, follow-up, and ensure completion of the implementation of agency and regulatory changes.
Facilitate the execution of the Mortgage Compliance Program, including policy and procedure review, consulting, testing, monitoring, and complaint analysis. Additionally facilitate the security incident process.
Ensure that all HMDA reportable loans are extracted from the Loan Operating System and contain all required fields to be reported on an annual basis. Monthly and quarterly review of all data for reporting is completed by comparing the data to imaged documents.
Track department projects through appropriate software.
Provide monthly and quarterly reports to management regarding pending, in process, and completed projects and implementations.
Assist in compliance exams and external or internal audits, as needed.
Understand and comply with bank policy, laws, regulations, and the bank's BSA/AML Program, as applicable to your job duties. This includes but is not limited to; complete compliance training and adhere to internal procedures and controls; report any known violations of compliance policy, laws, or regulations and report any suspicious customer and/or account activity.
TEAM ACCOUNTABILITIES
Support and uphold the Arvest Mission Statement.
Uphold the Arvest Code of Ethics and ensure that confidential information is safeguarded.
Maintain a high level of cooperation and rapport with all associates in order to ensure accurate and efficient operations and service.
Formulate and communicate new ideas and suggestions that will improve profitability and efficiency for the company’s overall operation.
Promote professionalism at all times.
QUALIFICATION REQUIREMENTS
Associates Degree or equivalent related experience required.
3 years mortgage or mortgage experience required. Working knowledge of RESPA and TILA preferred.
Recent general federal regulatory compliance preferred.
OTHER SKILLS AND ABILITIES
Must be able to read, retain, process, analyze and distribute large amounts of information.
Must be able to arrive at work on time, work on site and have regular work attendance.
Must be able to work cooperatively with other co-workers regardless of personality, presence or communication style.
Must be able to perform several tasks at once.
Must be able to organize, rotate, and coordinate multiple and changing priorities and workflow so all deadlines are met.
Must be detail-oriented.
Must be able to work in a stressful atmosphere.
Must be able to occasionally work overtime.
Must be able to greet others cordially.
Must be able to verbally communicate with all other associates.
Must possess excellent interpersonal skills and be able to communicate effectively with others with tact and patience on a daily basis.
Must be able to operate telephone, copiers and FAX machines.
Must be able to move from department to department to attend meetings.
Must be able to operate personal computer keyboard and software in order to create reports, schedules and other appropriate documentation.
PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
While performing the duties of this job, the associate is regularly required to read, talk, hear and sit. The associate occasionally is required to stand and walk; use hands to finger, handle, or feel objects; bend; and reach with hands and arms.
The associate may occasionally lift and/or move up to 25 pounds and must be able to reach and carry.
Specific vision abilities required by this job include close and color vision and the ability to adjust focus.
WORK ENVIRONMENT The work environment characteristics described here are representative of those an associate encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
GRADE 13
PAY RANGE $22.50 - $28.10 per hour
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