Regulation B Specialist

Reg B Specialist

The Reg B Specialist is responsible for the review of loan information contained in the Loan Originated System (LOS) to maintain compliance with the Notice of Incomplete Application requirements as defined by the Equal Credit Opportunity (ECOA) for all mortgage related loans.

• Maintain a good working knowledge of the requirements of the Equal Credit Opportunity (ECOA). Stay up-to-date with the Bank's lending practices and procedure in order to perform the related job duties. This duty is performed as needed, about 10% of the time.
• Monitor reports for Reg B ECOA compliance as related to Notice of Incomplete Application letter notification requirements. This duty is performed daily, about 10% of the time.
• Review, analyze and interpret loan applications and related information and documentation gathered during the processing of the loan request to perform related duties. This duty is performed daily, about 20% of the time.
• Communicate with responsible party as to the status of files to maintain compliance with Reg B ECOA NOIA letter requirements. This duty is performed daily, about 20% of the time.
• Issue Notice of Incomplete Application letters for applicable loan files. This duty is performed daily, about 15% of the time.
• Close files for Incompleteness for applicable loan files. This duty is performed daily, about 15% of the time.
• Report any issues or concerns about non-compliance with Reg B ECOA regulatory requirement. This duty is performed as needed, about 5% of the time.
• Assist in the update of Reg B ECOA policies and procedures. This duty is performed as needed, about 5% of the time.
• The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
• Complete required BSA / AML training and other compliance training as assigned. This duty is performed as needed.
• Perform any other related duties as required or assigned.

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required.

High school or GED, plus specialized schooling and / or on the job education in a specific skill area; e.g. data processing, clerical / administrative, equipment operation, etc, plus 2 years related experience and / or training, or equivalent combination of education and experience.

Ability to read and understand simple instructions, short correspondence, notes, letters and memos; ability to write simple correspondence. Ability to read and understand documents such as policy manuals, safety rules, operating and maintenance instructions, and procedure manuals; ability to write routine reports and correspondence. Ability to effectively communicate information and respond to questions in person-to-person and small group situations with customers, clients, general public and other employees of the organization.

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations.

Ability to solve practical problems and deal with a variety of known variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, or diagram formats.

Required Certificates, Licenses, Registrations

Not indicated.

Preferred Certificates, Licenses, Registrations

Not indicated.

• Basic: 10-Key, Accounting, Alphanumeric Data Entry, Contact Management, Database, Human Resources Systems, Payroll Systems, Presentation / PowerPoint, Spreadsheet, Word Processing / Typing

Periodically exposed to such elements as noise, intermittent standing, walking, pushing, carrying, or lifting; but none are present to the extent of being disagreeable.

The following work environment characteristics described here are representative of those…