Compliance Advisor, Sr.

CENLAR; Yardley (Bucks County); On-site; USD 75,000 - 100,000; Full time

Job summary

CENLAR is seeking Compliance Analysts for various roles within the Compliance Department. This position involves managing compliance requests, regulatory changes, and risk assessments. Candidates should possess a Bachelor's degree and significant experience in financial services compliance, along with strong analytical and interpersonal skills. This role offers an opportunity to work collaboratively within a dynamic environment focused on compliance and regulatory standards.

Qualifications

• Minimum of 7 to 10 years of experience in financial services or mortgage banking.
• Certified Regulatory Compliance Manager (CRCM) Certification recommended.
• Strong understanding of Fair Lending/Servicing laws.

Responsibilities

• Answer day-to-day consumer compliance requests and oversee regulatory issues.
• Perform surveillance over operational and risk reports.
• Coordinate examinations for Ratings Agencies and Federal Regulators.

Skills

Analytical skills

Interpersonal skills

Leadership skills

Compliance risk management

Regulatory understanding

Education

Bachelor's degree

Job description

The Compliance Analysts are responsible for the below job responsibilities which are specific to three different positions in the Compliance Department: Compliance Advisory, Regulatory Change Management, and Risk Assessment/Testing/KRI. Please review below for each different position.

Responsibilities:

Compliance Advisory

• Answers day to day consumer compliance related requests and questions
• Works closely with the Business Control Managers to review and oversee escalated regulatory (federal and state) issues, ensuring that root cause analysis is accurately performed, a remediation plan is approved with a defined date for implementation, is implemented, tested and validated and a determination of whether additional action is required to be taken (i.e. lookback, etc., working in connection with Legal) or made
• Reviews and approves changes in consumer compliance related policies and procedures
• Reviews and approves changes to job specific and enterprise wide compliance training and reviews and implements enterprise wide and job specific training in accordance with the approved, established schedule
• Reviews and approves changes to borrower communications
• Periodically reviews compliance specific tables to update information in MSP
• Supports Third Party Risk Management and Attorney Governance Committees
• Provides compliance expertise on enterprise approved projects
• Completes second level reviews of regulatory client audit findings
  

Regulatory Change Management

• Works regulatory change management assigned items within the effective date timeframes. Works with the applicable areas to assess impact, assign ownership, review and approve management action plans, approve amended policies, procedures, job aides, training, changes risk control self-assessments, and QC testing questions and parameters. Review results of QC testing for 90 days to ensure change was implemented effectively
• Completes second level review of implemented items
• Provides support for large, complex Federal regulatory changes
• Responds to client inquiries related to regulatory change management
  

Risk Assessment/Testing/KRI

• Participates in the annual review and update of the Compliance Risk Assessments
• Identify, document and measure regulatory risks that align to the relevant functional aspects of the operations.
• Performs surveillance over key operational and risk reports, including complaint management that details noncompliance or the risk of noncompliance. Perform analysis on these reports looking for red flags to determine where to perform deeper dives or analysis to detect potential systemic issues
• Reviews enforcement actions, regulatory bulletins, and supervisory announcements to identify emerging regulatory risks, and advises other internal stakeholders and industry SME’s regarding such risks
• Executes the assigned Compliance Testing within the timeframe outlined in the Compliance Monitoring and Testing Schedule
• Works with the Business Control Manager and applicable Business Line Management team ensuring all testing results are properly vetted
• Finalizes and documents executive reporting of the Compliance Testing Results
• Analyzes and reports trends in Key Risk and Key Performance Indicator metrics
• Reviews and validates new/amended Key Risk and Key Performance metrics.
• Supports Client Audits related to KRIs and Compliance testing

• Represents Compliance in client meetings related to KRIs

Fair and Responsible Lending & Servicing Compliance:

• Assists the Manager in administering and monitoring all aspects of Cenlar’s Fair Lending/Servicing Compliance Program, including:
  • Managing the Fair Lending/Servicing Policy;
  • Reviewing and updating Fair Lending/Servicing compliance related procedures when changes are required and on an annual basis;
  • Reviewing and updating comprehensive, enterprise, and job specific Fair Lending./Servicing Training;
  • Monitoring and testing;
  • Providing input to applicable statistical analysis;
  • Reviewing Fair Lending/Servicing related complaints for proper resolution and emerging risks.
• Assists with managing Cenlar’s Fair Lending/Servicing risk and reporting to the Cenlar Management Team, Executive Management and the Board of Directors on the progress and status of Fair Lending/Servicing related objectives and initiatives
• Provides advisory services and subject matter expertise on areas pertaining to Fair Lending/Servicing compliance to business units
• Reviews and provides recommendations to Manager a severity rating for any identified Fair Lending/Servicing issues
• Participates in working groups, key business initiatives, and projects to ensure Fair Lending/Servicing risks are appropriately identified, escalated, and mitigated
• Provides second line oversight, guidance, and credible challenge to key business lines and areas throughout Cenlar in regards to Fair Lending/Servicing related items

Exam Management:

• Coordinates examinations for Ratings Agencies, GSE Agencies, Insurers and Federal Regulators
• Serves as a liaison for our regulators and examiners
• Coordinates monthly regulatory meetings and any ad hoc agency/insurer meetings
• Supports Managers within the Exam Management area
  
  

Qualifications:

• Bachelor’s degree preferred
• Minimum of 7 to 10 (5 to 7 years for Fair and Responsible Lending & Servicing) years of experience in financial services compliance, mortgage banking compliance or mortgage lending/servicing compliance
• Certified Regulatory Compliance Manager (CRCM) Certification is recommended
• Strong understanding of Fair Lending/Servicing laws and regulations, specifically, Equal Credit Opportunity Act and Fair Housing Act (Fair and Responsible Lending % Servicing)
• Strong understanding of regulatory processes, operations and activities, and requirements of a mortgage servicing company
• The successful candidate for this position must be able to build effective relationships with a proven ability to build trust and credibility through strong interpersonal skills, communications, actions, and presence
• Strong knowledge of compliance risk management concepts, data, frameworks, systems, methods, and good governance practice
• Strong analytical skills
• Ability to work independently
• Strong ability to multi-task
• Excellent collaborative skills demonstrated through ownership of issues seen through to resolution, providing sound guidance to others, and positively influencing organizational culture
• Excellent leadership skills demonstrated through ownership of issues seen through to resolution, providing sound guidance to others, and positively influencing organizational culture
• Outstanding communication skills, both oral and written, and the ability to communicate clearly