Loan Review Quality Assurance Specialist

Position Purpose:

• This position will be responsible for completing regulatory compliance and/or data accuracy reviews on loans to ensure data quality and integrity, as well as compliance with applicable lending regulations, for the loan origination and servicing functions within Lending Services.

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Primary Responsibilities:

• Support the Loan Review and Quality Assurance function within Loan Services, focused on the continuous monitoring of and reporting on compliance with applicable lending regulations and the accuracy and completeness of loans processed and booked through the loan processing and servicing teams. This involves the following:
• Be the 1^st Line of Defense (1LOD) for Consumer Lending regarding regulatory compliance: Work directly with Consumer Loan Processing management and staff to complete real-time, prior-to-release reviews and testing on all loans to ensure compliance with consumer lending regulations.
• Consult with Compliance staff and your manager regularly and as needed to ensure an effective 1LOD is created and maintained.
• Ensure the quality and effectiveness of risk controls established by Risk Management and Compliance for the Loan Services teams by independently testing newly originated and booked loans, as well as modified and renewed loans.
• Identify gaps in current processes and procedures, then collaborate with your manager and the appropriate stakeholders to implement procedures and/or training to close and eliminate those gaps.
• Perform tests of controls as part of continuous monitoring to provide an independent evaluation of data quality and operational effectiveness.
• Assist with projects supporting efforts to continually improve/enhance the Loan Review Quality Assurance process.
• Communicate effectively both verbally and in writing with peers, management, stakeholders, and other internal departments.
• Other Duties as requested.

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Authority, Impact, Risk:

• Works closely with manager, peers, and partners to ensure regulatory compliance on all Consumer Loans. This will result in satisfactory ratings (with limited findings) on all compliance-focused audits and exams in the future.
• Works closely with manager and peers to continuously identify areas of improvement and drives to implementation of solutions. Works closely with Compliance and Risk Management to ensure understanding of regulations governing lending and Bank Policy.
• The accuracy and integrity of loans originated, booked, and serviced is critical to the Bank’s standing with regulators, effective management of risk, satisfaction and long-term relationship building with our customers. It is important for the Bank to have a continuous loan quality assurance process in place to mitigate any risk related to these stakeholders.

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Key Relationships:

• Loan Review Quality Assurance Manager, Managing Director – Loan Services, Commercial and Consumer Loan Processing managers and staff, and Loan Servicing manager and staff
• Routine interaction with the Managing Director – Compliance and staff

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Managerial Accountability:

• N/A

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Working Conditions:

• Work independently and in a team environment, as necessary
• Strong computer skills
• Communications skills
• Ability to multitask
• Understanding of State and Federal laws governing lending
• Limited Travel

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Time Allocation:

• Complete regulatory compliance and/or data accuracy reviews on loans.......80%
• Meetings with manager, peers, and various stakeholders…….20%

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Job Specifications:

Position adheres to confidentiality policy, code of ethics and knowledge of Bank Secrecy Act and best practices and other pertinent Regulatory laws and regulations.

Required:

• High School Diploma or equivalent; college degree in a business or accounting-related field preferred or relevant work experience
• 5 or more years in financial industry experience, with at least 3 years of experience specifically related to commercial and/or consumer lending quality assurance and loan review
• Knowledge of state and federal regulatory requirements related to lending preferred
• Detail oriented
• Able to multitask
• Self-motivated
• Positive attitude
• Ability to learn and adapt to regulatory changes and company growth
• Leadership and management experience preferred

Preferred:

• Some college

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Risk Management Requirements:

Understands and adheres to Workplace Policies, Code of Conduct, privacy, and information security guidelines. Understands and adheres to Anti-Money Laundering, Bank Secrecy Act, and Compliance with the USA PATRIOT Act policies and procedures applicable to position, completing any supporting requirements within defined timeframes. Acts within authorized limits and delegated authorities and role applicable policies and procedures. Follows processes and controls to protect shareholder interests. Mitigates risk to the bank and customers by following all applicable security procedures.

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Equal Opportunity Employer including Veterans/Disabilities