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