Compliance Specialist

Company: SESLOC Federal Credit Union
Location: San Luis Obispo
Posted on: January 12, 2021

Job Description:

Perform Consumer, Residential Mortgage and Small Business Loan and Share Account quality control reviews to ensure the Credit Union is in compliance with policy, procedures, regulations, ID verification requirements, underwriting guidelines, default and loss mitigation functions as required by regulators and auditors. Identify risks or trends and provide appropriate management reports. Perform additional compliance reviews related to audits, compliance and quality control/assurance functions as appropriate; including reviewing various account changes, products and services, including but not limited to; lending/deposit file maintenance, higher risk account changes and regulatory required information. Specific duties include but are not limited to:* Perform quality control reviews on consumer, residential mortgage and small business loans, and VISA extensions of credit to ensure all paperwork is complete and products are set up correctly in the core processing system.* Perform quality control on consumer and fiduciary memberships and share accounts, including trust accounts, to ensure all screening and documentation is complete and accounts are set up correctly in the core processing system.* Prepare the necessary documentation noting exceptions to policy and originating branch/officer reports for review by management. Provide recommendations on appropriate course of action related to their findings through monthly reports.* Ensure all loan and share documentation is completed correctly and stored in the Credit Union's electronic document storage systems in a timely manner. Identify and inform management of potential screening or underwriting problems.* Responsible for monitoring high risk changes to the share and loan records in the core system and ensuring these changes are completed by authorized personnel and, as appropriate, a paper trail is completed according to internal policies and procedures.* Monitor quality of loan documents. Check to ensure that paperwork is indexed correctly and that all member and Loan Officer information is complete and accurate.* Review a sample of shares after accounts are opened. Ensure that all memberships and accounts have appropriate customer ID verification, member signature card is complete and information on the core system is accurate.* Review a sample of loans after loans are booked. Ensure that all loans have appropriate customer signatures, rates are calculated properly, and loans have been priced in correct rate tiers.* Perform branch and department reviews of loan documents, systems records, and internal controls. Loan reviews include but not limited to the following: loan rates, loan documentation, correct policies and procedures followed.* Assist with updating the lending and share quality control and assurance policies, procedures and processes in accordance with changes to federal and state regulations, investor guidelines and internal policies and procedures.* Prepare quality control, risk and/or compliance reports by collecting, analyzing, and summarizing information, and produce accurate and reliable information for decision making.* Carry out tasks and complete special assignments related to audits, compliance and quality control/assurance functions as appropriate.* May provide assistance to the BSA/Fraud department as needed, including but not limited to the filing of CTRs and OFAC and or Fraud alert analysis.Education and Experience: High School Diploma or GED and three (3) to five (5) years' of similar or related experience, including time in preparatory positions. Demonstrated and have strong knowledge of loan underwriting principles. Possess a strong knowledge base of Regulation B, C, E, X (RESPA), Z (TIL), DD, S.A.F.E. Act, Flood Insurance, Fair Lending, Fair Credit Reporting, UDAP requirements and Privacy policies as they relate to consumer loan and residential mortgage loans and quality control of those loans. Possess a solid understanding of loan underwriting principles to support loan decisions. Credit Union or financial institution experience preferred. SESLOC has a collegial work environment with a keen focus on training and development. In addition we offer competitive compensation and excellent benefits including fully paid employee health, dental and vision; vacation, sick, holiday time off; and a 401k with generous employer match.EOE

Keywords: SESLOC Federal Credit Union, San Luis Obispo , Compliance Specialist, Other , San Luis Obispo, California