Lending Compliance Analyst

The Lending Compliance Analyst will support, implement, and monitor the end-to-end internal compliance audit monitoring program for the Consumer and Lending departments to ensure regulatory reporting and documentation requirements are met. This position will monitor all credit-related regulatory compliance policies and procedures, risk assessments, and monitoring of new credit-related laws and regulations.

PRIMARY DUTIES AND RESPONSIBILITIES

·         Serves as a resource on applicable regulations, including newly issued rules and regulations, and communicate guidance consistently and timely to business unit.

·         Provides recommendations and guidance to lending departments to ensure new and existing compliance and risk operating policies and procedures are executable by their respective teams and maintains a high-quality experience for members. Assists these departments in conducting compliance and operational risk monitoring and preparing for compliance audits, regulatory examinations, and quality assurance reviews.

·         Partners with department managers and supervisors to implement procedural changes and department work methods to ensure compliance with federal and state regulations as well as industry best practices. Recommends process improvements to facilitate fast and accurate responses to internal and external customers while improving overall efficiency of the lending function.

·         Implements and coordinates programs to identify and manage compliance/operational risk stemming from laws and regulations that apply to lending activities, as well as the activities of related delivery channels. Coordinates monitoring programs for lending products and processes as necessary to ensure compliance. Assists Managers with identification, solution and monitoring of high-risk activity for Retail Lending and related delivery channels as necessary by developing rating and reporting templates to measure and report compliance risks and controls. Conducts reviews of higher risk compliance or operational activities as necessary.

·         Obtains and maintains proficient knowledge of consumer laws and regulations; specifically, all laws and regulations relating to Retail Lending Obtains and maintains knowledge of credit union services, policies and procedures.

·         Conducts loan level inspection in accordance with compliance policies/procedures to ensure appropriate adherence. Engage with staff and/or management to discuss discrepancies and to address remediation plans to address issues.

·         Ensures HMDA information is correct by conducting periodic reviews of loan files and comparing information to HMDA LAR prior to filing.

·         Other duties as assigned

SKILLS/QUALIFICATIONS

·         Excellent verbal and written communication skills. Ability to communicate professionally and effectively with others.

·         More progressively responsible work experience within the mortgage and consumer lending functions of a financial institution where the incumbent has gained an in-depth working knowledge of the following lending regulations: Equal Credit Opportunity Act (Reg B); Truth in Lending Act (Reg Z) and Real Estate Settlement Procedures Act (Reg X), together known as “TILA/RESPA” or “TRID;” Home Mortgage Disclosure Act (Reg C); Fair Credit Reporting Act (FCRA); Flood Insurance Regulation; Fair Lending Act; Fair Housing Act; State Banking lending laws, Fannie Mae/Freddie Mac/FHA/VA guidelines and the loan process, from underwriting through servicing.

·         Undergraduate degree required. Mortgage banking courses highly desirable. Incumbent must also possess strong analytical, communication, interpersonal, organizational and presentation skills.

REQUIREMENTS

·         Complies with all policies and procedures of MIT and MIT Federal Credit Union.

·         Displays professional behavior, attitude, appearance and dress.

·         Projects a positive image for Credit Union.

EDUCATION/EXPERIENCE

·         Bachelor's degree in a related field required.

·         Minimum 2 years relevant experience required.

·         Knowledge of applicable federal and state laws preferred.

·         Lending Experience preferred.