Compliance Specialist

Key Mortgage; Schaumburg (IL); On-site; USD 65,000 - 75,000; Full time

Benefits offered by this job

Medical

Dental

401k with employer match

Paid Time Off

Volunteer Time Off

Job summary

Key Mortgage is seeking a Compliance Specialist to manage day‑to‑day compliance operations for residential mortgage activities in Schaumburg, IL. You will handle licensing, filings, complaint triage, and audit preparation, reporting to the Compliance Manager.

The role requires 2–4 years of mortgage compliance experience and solid knowledge of TRID, RESPA, HMDA, Reg Z/X, and FCRA. Proficiency with Encompass, Empower, and Byte is preferred.

Qualifications

• 2–4 years of direct residential mortgage compliance, quality control, or loan processing experience.
• Foundational knowledge of TRID, RESPA, HMDA, ECOA/Reg B, Reg Z, Reg X, FCRA.
• Strong organizational skills with high attention to detail for tracking regulatory deadlines.
• Proficiency with Loan Origination Systems and Microsoft Office.

Responsibilities

• Process NMLS onboarding transfers, sponsorship requests, and Form MU4 filings for newly hired Loan Officers.
• Audit LO profiles during onboarding for state testing, continuing education, and TAO compliance.
• Coordinate annual NMLS license renewal documentation for the company and individual originators.
• Prepare exam document request lists (DRLs) and track post‑examination remediation items.
• Maintain central tracking logs for audit findings and follow up with units on corrective actions.

Skills

Mortgage compliance

Regulatory knowledge

Attention to detail

Organizational skills

Microsoft Office

Education

Associate or Bachelor’s degree in Business/Finance

Tools

Encompass

Empower

Byte

Job description

The Compliance Specialist executes the day‑to‑day tactical operations of the compliance program, ensuring daily mortgage operations adhere to state and federal lending laws. Reporting to the Compliance Manager, this role actively processes regulatory filings, monitors licensing tasks, performs complaint triage, and gathers documentation for audits and examinations. The Compliance Specialist serves as the primary hands‑on resource for initial compliance inquiries and routine monitoring tasks.

Core Responsibilities

Licensing & Exam Logistics

• Process NMLS onboarding transfers, sponsorship requests, and Form MU4 filings for newly hired Loan Officers.
• Audit LO profiles during onboarding for state testing, continuing education, and Temporary Authority to Operate (TAO) compliance.
• Coordinate annual NMLS license renewal documentation for the company and individual originators.
• Prepare exam document request lists (DRLs) and track post‑examination remediation items.

Complaint Administration & Tracking

• Monitor and triage the compliance department mailbox daily, resolving standard inquiries or escalating complex items.
• Execute intake for borrower complaints, log details in the Compliance Management System (CMS), and gather supporting file history.
• Draft preliminary complaint response letters for management review within mandated turnaround times.

SAR Review & Audit Support

• Perform initial reviews of flagged loan files for suspicious activity and assemble case files for SAR determinations.
• Prepare required SAR filings under the guidance of leadership and archive supporting documentation.
• Collect and package requested loan files, policies, and records for internal, external, and investor audits.
• Maintain central tracking logs for audit findings and follow up with operational units on corrective action items.

Cross-Functional Partnership

• Collaborate with Quality Control (QC) and fulfillment teams to pull sample loan files for compliance testing.
• Assist in updating standard operating procedures (SOPs) based on Quality Assurance findings and regulatory updates.

Requirements

• Associate or Bachelor's degree in Business, Finance, or a related field, or equivalent experience.

• 2–4 years of direct residential mortgage compliance, quality control, or loan processing experience.
• Foundational knowledge of key federal mortgage regulations (TRID, RESPA, HMDA, ECOA/Reg B, Reg Z, Reg X, FCRA).
• Strong organizational skills with high attention to detail for tracking recurring regulatory deadlines.
• Proficiency with standard Loan Origination Systems (e.g., Encompass, Empower, Byte) and Microsoft Office.

Preferred

• Hands‑on experience navigating the NMLS Resource Center, managing NMLS company account sponsorships, and submitting Form MU4 updates.
• Prior experience executing initial SAR reviews or assembling state examination request packages.

Salary Range:

$65,000-$75,000

Benefits

• Medical
• Dental
• 401k with employer match
• Paid Time Off
• Volunteer Time Off