Senior Compliance Officer

Title:
Senior Compliance Officer
Location:
Irvine, CA

Duration: 6 month plus Contract or Contract to hire

What you'll do:
The Sr Compliance Officer - Contractor performs a key second line of defense role to ensure the line of business processes comply with applicable laws and regulations. The position supports overall compliance through execution of compliance control testing programs designed to evaluate the effectiveness of line of business practices in meeting respective regulatory compliance. The Senior Compliance Officer - Contractor will conduct, coordinate, and execute independent control testing under the direction of the Associate Compliance Director, from planning to reporting on various types of regulatory compliance testing activities and continuously adapt based on assignments.

What we are looking for:

Conduct compliance testing of both lending and purchasing processes, which requires knowledge and understanding of mortgage loan such as Sales, Disclosures, Processing, Appraisal Order/Review, Docs, Closing/Funding, Post Closing, ARMs, Escrows, loan purchasing.

Ability to assess compliance with applicable federal and state statutes (TILA, TRID, RESPA, ECOA, FCRA, HPA, FDPA, etc.), program specific requirements (ARM, DSCR, Interest Only, HELOC/HEL), and regulatory requirements circulated by agencies including FNMA, FHLMC, FHA, VA, USDA, and CFPB.

Evaluate recorded loan officer calls for adherence to and compliance with applicable federal and state regulatory requirements.

Conduct compliance testing in accordance with Compliance Management System Program standards and regulatory requirements.

Perform multiple testing engagements concurrently from planning through reporting and produce quality, timely deliverables.

Obtain supporting documentation to conduct testing, develop testing scopes and scripts, validate findings, and analyze root cause.

Finalize testing results; identify opportunities for improvement in the design and effectiveness of compliance controls as appropriate.

Draft reports to a high quality for review by Associate Compliance Director prior to sharing with the line of business and clearly articulate issues and risks identified.

Track the line of business corrective action plans, effectively challenge, and manage the satisfactory resolution of issues, including ensuring adequate remediation plans and validation to ensure proper and timely resolution.

Document test results and reporting metrics in GRC Tool and/or central repository.

Demonstrate good risk awareness across different risk topics and able to complete complex walkthroughs and design and execute necessary testing.

Keep abreast with internal process controls and regulatory requirements, understand, and identify changes in rules and regulations and the impact on monitoring and testing activities.

With increasing levels of independence and professional judgment, identify deficiencies and recommend solutions to complex issues.

Complete any other job-related duties as assigned by management.

Job Requirements:

Strong understanding of compliance and federal and state consumer laws and regulations, including RESPA/TILA, eSign, TRID, Dodd Frank, Reg B, Reg C, Reg E, Reg Z, Fair Credit Reporting Act, FACT, Fair Housing Act, SAFE Act, ATR/QM requirements, etc.

Minimum 3-5 years mortgage lending experience with an emphasis executing compliance testing, regulatory control testing, risk, internal audit, or consulting on internal controls is required.

In-depth understanding of audit and compliance practices and methodologies, including risk assessment and internal control concepts.

Demonstrated ability and success in interacting with senior leadership, including executive management.

Strong analytical skills particularly regarding assessing the probability and impact of a control weakness.

Organize and manage time appropriately based on established timelines to meet department objectives.

Facilitate meetings, gather information, and identify linkages and trends to apply findings to testing.

Analyze documentation, research solutions, and present recommendations to stakeholders for implementation of non-complex problems.

Ability to clearly define scope and identify root cause of problem, research potential solutions, and engage stakeholders in discussion to obtain line of business engagement, escalation as appropriate.

Ability to identify and understand key risks, issues, and trends and to develop meaningful information to be shared with leadership.

Excellent written and verbal communication;
Ability to build and maintain strong working relationships and obtain line of business engagement regarding risk ownership and mitigation activities.

Ability to think strategically and implement processes across multiple LOB, in partnership with first line of defense business partners.

High level of inquisitiveness and desire to learn and understand new areas.

Strong PC skills, including the Microsoft Office. PowerPoint, Excel

Strong knowledge of Encompass

Familiar with Compliance.ai,…