Under the direction of the Sr. Vice President, Sr. Mortgage Officer, the Loan Compliance Officer & Quality Review Officer has primary responsibility to help the Bank proactively meet the objectives and the technical requirements of lending related laws and regulations and manages the quality control and post-closing function of the bank. This position assists in developing and implementing policies and procedures to comply with applicable laws and regulations. The Loan Compliance Officer works independently and as a team to solve problems efficiently, effectively, and timely. The Loan Compliance Officer also assists management during external audits and the CRA, Fair lending and Compliance examinations, complies with all State and Federal compliance regulations and develops and maintains a commitment to exemplary customer service.
PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:
All associates of the Bank regardless of title or responsibilities must share a common commitment to creating and expanding the Advisory Culture of the Bank through building relationships, providing a seamless customer experience at every touch point, ensuring the customers’ best interests and increasing customer value at every opportunity. To this end, the
Loan Compliance and Quality Review Officer is expected to:
• Manage lending compliance for all business lines and oversee quality control and post-closing follow up.
Perform preclosing quality control according to secondary market guidelines.
Provide the highest level of customer service in a positive, courteous, and enthusiastic manner to employees, customers/clients and the community.
• Assist with the development and update of compliance policies and procedures.
• Review and monitor the Bank’s compliance with policies and laws
• Verify the quarterly Loan Application Register, file the annual HMDA report, & update HMDA public files.
Monitor fair lending and CRA activities utilizing NContracts software developing reports and reporting quarterly on the Bank’s activities.
• Maintain updated knowledge on lending related laws & regulations and coordinating procedural changes to address new or changed regulatory requirements as needed.
• Provide employee training on lending related laws & regulations.
• Advise business units and personnel on compliance risks & controls in their on-going and proposed business activities.
• Report to the Senior Compliance and Risk Officer and the Management Risk Audit and Compliance Committee on lending related compliance activities.
• Maintain the monitoring program and procedures for the residential and consumer lending department and identifies and communicates deficiencies or potential problems.
• Review and assist in revision and development of bank forms, agreements, and disclosures to ensure compliance.
• Attend seminars and workshops. Monitor industry publications and communicate new developments as applicable.
• Ensure that the Bank is in compliance with all applicable secondary market underwriting guidelines as well as all State and Federal lending regulations.
• Attend meetings and provide input as required.
• Responsible for monitoring all Bank loans in a flood zone to ensure compliance with Flood Insurance regulations.
• Responsible for vendor risk management within the business line.
• Other duties as may be required.
Minimum of 3 years hands-on lending related regulatory compliance experience. Bachelor's degree and/or related professional coursework required. Lending compliance certification preferred. In-depth knowledge of and ongoing education of the requirements of the following laws and related regulations: Truth in Lending Act, RESPA, fair lending laws (including ECOA, FHA & HMDA), FCRA, FTC Act, CRA, flood insurance, and other Federal & State lending laws. Excellent verbal and written communication skills required to interact with all levels of internal and external stakeholders effectively.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skills and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Fidelity Bank is proud to offer a competitive compensation and benefits program which includes health, dental, vision, life, and immediate 401(k) plan participation.
Fidelity Bank is an equal opportunity employer.