What are the responsibilities and job description for the Compliance Specialist position at Waterstone Mortgage Careers?
SUMMARY:
Are you a mortgage industry professional who is passionate about ensuring regulatory excellence and helping organizations stay ahead of compliance challenges? We're looking for a detail-oriented and proactive Compliance Specialist to join our team. In this role, you'll play a key part in maintaining our adherence to federal laws and regulations, supporting internal audits, and guiding our teams through complex compliance matters. If you're ready to bring your expertise to a fast-paced, dynamic environment — we’d love to hear from you!
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Under the direction of Compliance and Legal Umbrella Management:
- Act as a compliance resource and respond to compliance questions from branch offices, other departments, investors, regulators, and others as needed.
- Assist in execution of Compliance Plan by performing various internal and regulatory compliance reviews.
- Investigate potential compliance issues and report findings.
- Research, analyze and summarize state and federal laws, regulations, etc.
- Prepare and maintain regulatory filings.
- Perform research and investigation as necessary to assist with the completion of company reports.
- Assist with audits, exams, and the preparation and completion of compliance reports and follow up to ensure issues are resolved.
- Assist with HMDA data review process and enter information through the QuestSoft program.
- Support Marketing Team and assist with marketing compliance by reviewing marketing materials and providing feedback.
- Assist with staff compliance training (including content development/refinement), maintain training schedules, and track completion.
- Assess compliance-related policies and procedures and make recommendations.
- Assist Compliance and Legal Umbrella Management as needed.
- Administrative duties such as copying, scanning, preparing mailings, etc.
ADDITIONAL DUTIES:
- Complete any additional duties as assigned by management.
- Complete regulatory and compliance training, as required.
- Assist WMC employees and Departments as needed.
QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Experience with Encompass Loan Origination System.
- Extensive familiarity with regulatory frameworks and with the regulatory environment related to the mortgage lending industry or a related field.
- Extensive experience working with regulators such as FDIC, HUD, or similar and/or state regulators.
- Ability to manage people.
- Familiarity with existing state and federal laws and regulations and proven ability to learn new state and federal laws and regulations related to the mortgage lending industry.
- Ability to conduct investigations and interviews using excellent communication skills.
- Ability to summarize and communicate complex information in written and oral formats.
- Ability to maintain confidential and/or privileged information.
- Ability to work individually and within a team.
- Ability to communicate complex information in plain language.
- Strong leadership skills.
- General administrative skills.
EDUCATION and/or EXPERIENCE: Associate’s degree required.
Additional education and/or experience: Five years work-related experience in the mortgage industry or within a regulatory environment.
COMPUTER SKILLS: Microsoft Office, Excel, and Adobe required. NMLS, QuestSoft, and Trupoint/NContracts experience preferred but not required.
Individuals in this position shall not engage in loan origination during the course of his/her employment with WMC. Loan origination is defined as (1) taking a residential mortgage loan application; or (2) offering or negotiating terms of a residential mortgage loan for compensation or gain; (3) advertising or communicating to the public that you can perform loan origination services. Please see the Loan Originator Compensation Policy for more details on the definition of loan origination.