Loan Compliance Officer

Virginia Bankers Association; Jim Thorpe (PA); On-site; USD 90,000 - 120,000; Full time

Job summary

Virginia Bankers Association seeks a Loan Compliance Officer to support regulatory compliance for consumer and commercial lending. Reports to the CCO and leads internal reviews, training, and audit preparation across loan origination and servicing.

You will monitor regulatory changes, prepare reports for senior management, and ensure adherence to BSA/AML, HMDA, and related lending regulations while coordinating internal controls and compliance training.

Qualifications

• Bachelor's degree or related experience required.
• 5+ years of regulatory experience in loan documentation, processing, operations, and/or lending.
• 3-5 years exposure to loan compliance.
• Proficiency in Word, Excel and Outlook.
• Experience with LaserPro, MortgageBot and Ncontracts.
• Working knowledge of federal lending regulations (TILA, RESPA, ECOA, FCRA, HMDA) preferred.

Responsibilities

• Develop, administer and monitor a loan compliance program across origination and servicing.
• Perform compliance reviews and report observations to the CCO for corrective action.
• Prepare internal and Board reports and provide data-driven analyses.
• Coordinate CRA, fair lending and flood policy reviews and related training.
• Assist with audits, NMLS administration, and regulatory change interpretation.

Skills

Regulatory compliance

BSA/AML knowledge

Interpersonal skills

Communication skills

Word/Excel/Outlook

Education

Bachelor's degree or related experience

5+ years regulatory experience in loan lending

3-5 years loan compliance exposure

Tools

LaserPro

MortgageBot

Ncontracts

Job description

General Responsibilities

The position of the Loan Compliance Officer, under the direction of the CCO, is responsible for performing compliance reviews on internal processes and procedures to support ongoing regulatory compliance with consumer and commercial lending financial regulations. The Loan Compliance Officer will report the observations to the CCO for further consideration and corrective action.

Essential Functions

• Develop, administer and monitor a program that ensures the Loan Department’s compliance with all applicable laws, regulations, and rules governing loan origination and servicing activities. Maintain a thorough understanding of state and federal laws and regulations related to lending compliance including bank secrecy and anti-money laundering laws appropriate to the position. Monitor changes in lending compliance laws, keep senior management informed by providing both analysis and interpretation of the changes within the regulations and work with department managers to recommend and implement internal procedure changes necessary to proactively maintain compliance. Serve as an in-house expert to provide loan compliance advice, address and research any compliance questions, and provide summarizations, recommendations and solutions as it relates to ongoing and upcoming regulatory changes to ensure continued bank compliance. Perform and/or assist with compliance reviews of internal processes and procedures of various business units to support ongoing business line compliance with applicable regulations. Areas include but are not limited to: mortgage, consumer and commercial loans, collections, marketing and website. Inputs, reviews and prepares annual HMDA submission. Responsibilities include transfer of data to applicable compliance systems, review of data for accuracy, regulatory review of LAR as well as scrub of data, and submission of data annually. Identify, prepare, research, implement, and instruct regulatory and compliance training courses for Loan Department staff to ensure continued compliance throughout the organization. Reviews a defined sample of loan files (pre and post-origination), tracks missing and outstanding items and reports aged items to management. Prepares regular internal reporting for the Board of Directors. Prepare compliance review reports by collecting, analyzing, and summarizing information and produces accurate and reliable information for decision making. Quarterly review and ongoing individual assessment of flood policies for adequate coverage. Administration and preparation for regulatory and internal audits including the creation of reports, responses, and the organization of both paper and digital files. Completes annual CRA reporting as well as ongoing CRA efforts to identify loans qualified for community development designation. Completes regular fair lending risk assessments, as well as quarterly fair lending evaluation of lending policy exception activity. Ongoing NMLS administration as well as the reporting for any staffing changes including the submission of new hires and terminations.
• Complies with all corporate policies, procedures and federal regulations including BSA/AML and OFAC.

Non- Essential Functions

• Consult on special projects and other duties as assigned by the CCO. Perform all other related duties as assigned.

Education, Training And Experience

• Bachelor's degree or related experience required
• 5 or more years of regulatory experience in loan documentation, processing, operations, and/or lending.
• 3 - 5 years’ exposure to loan compliance
• Proficiency in Word, Excel and Outlook
• Experience with loan documentation software such as LaserPro, MortgageBot.
• Experience with compliance software such as Ncontracts.
• Working knowledge of federal regulations including Truth in Lending Act, Real Estate Settlement Procedures Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Home Mortgage Disclosure Act and other related regulations preferred. Fully knowledgeable of the lending process, laws and regulations, credit and risk assessment of the loan process. Experience establishing and maintaining company compliance policies & procedures. Excellent interpersonal skills with the ability to develop working relations within the department and other Bank locations.

Physical/Mental Requirements

Job functions are performed in an office environment. Incumbent operates various types of office equipment, secures supplies and files, communicates with customers and/or other employees and is frequently required to move about the branch and/or office location. Physical demands involve any or all of the following: digital dexterity and eye/hand coordination in the operation of office equipment; light to moderate lifting and carrying of supplies, files, etc.; the ability to speak to and to hear customers and/or other employees on the telephone and in person; body and motor skills sufficient to enable the incumbent to move from one office location to another; must be capable of learning to use complex data processing equipment and performing moderate to complex mathematical calculations; must be able to work extended hours as needed.