HMDA Compliance Manager, Freedom Mortgage, Columbia, MD
Freedom Mortgage -
Columbia, MD,
US
HMDA Compliance Manager
Date Posted: 2024-06-21
Job description
Summary:
The HMDA Compliance Manager assists in the accomplishment of the regulatory compliance monitoring plan. Oversees staff and participates in HMDA review activities for originations and assumptions to ensure compliance with applicable regulations. Prepares monitoring activity reports and shares results with key stakeholders. Participates in or leads process improvement activities at the direction of the Senior Vice President, HMDA and Fair Lending Officer
Essential Job Duties and Responsibilities:
Performs other related duties as assigned.
Supervisory Responsibilities:
This position has direct reports. Manages staff and carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
Certificates, Licenses, Registrations:
None Required
Work Complexity:
Problems and issues faced are moderately complex. Problems typically impact own department and maybe other departments. Problems are typically solved through drawing from prior experience and analysis of issues.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.
Equal Employment Opportunity:
The Company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.
Americans with Disabilities Act:
Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.
Job Responsibilities:
The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The Company may change the specific job duties with or without prior notice based on the needs of the organization
The HMDA Compliance Manager assists in the accomplishment of the regulatory compliance monitoring plan. Oversees staff and participates in HMDA review activities for originations and assumptions to ensure compliance with applicable regulations. Prepares monitoring activity reports and shares results with key stakeholders. Participates in or leads process improvement activities at the direction of the Senior Vice President, HMDA and Fair Lending Officer
Essential Job Duties and Responsibilities:
- Accurately completes and documents activities outlined in the Compliance Monitoring Program. Ensures that assigned testing activities maintain alignment with regulatory requirements.
- Promotes highly efficient processes and systems to monitor, assess, and accurately report on the effectiveness of the system of compliance controls
- Validates integrity of proposed edits prior to release to business or to other areas as needed
- Assigns and distributes monthly testing sample to the HMDA review staff
- Assesses quality of reviewer work product and conducts performance reviews
- Maintains monthly reviewer tracking logs to support testing assignments
- Updates reference guides as needed that are used to support HMDA review of source documents and data points.
- Collects and Evaluates business feedback in response to proposed edits
- Maintains solid working knowledge of the Home Mortgage Disclosure Act (HMDA)
- Assists in preparation and maintenance of the loan application registers (LARs) as needed.
- Reviews HMDA data fields against loan origination system and against source documents.
- Demonstrates ability to clearly understand HMDA reporting requirements and articulate enhancement opportunities.
- Demonstrates ability to understand and communicate corrective actions to appropriate personnel.
- Compares actions taken with regulatory requirements and communicates regulatory requirements to staff and others as needed.
- Contributes to the preparation of coordination of compliance related reports.
- Assists operational areas in defining practices that would result in adherence to regulatory compliance objectives as assigned.
- Assists in ensuring that changes in regulatory compliance requirements are reflected in our systems and submits process improvement recommendations to support efficiencies.
- Consults on special projects as requested by the SVP HMDA and Fair Lending Officer
- Comply with all company policies and procedures.
- Maintain regular and punctual attendance.
Performs other related duties as assigned.
Supervisory Responsibilities:
This position has direct reports. Manages staff and carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
- Fundamental understanding of the following: Fair Credit Reporting Act, Equal Credit Opportunity Act, Truth in Lending Act, Real Estate Settlement Procedures Act, Home Mortgage Disclosure Act, and other applicable federal and state statutes and regulations.
- Bachelor's Degree from a 4 year College or University and 5 to 7 years of training experience or equivalent combination of education and experience.
Certificates, Licenses, Registrations:
None Required
Work Complexity:
Problems and issues faced are moderately complex. Problems typically impact own department and maybe other departments. Problems are typically solved through drawing from prior experience and analysis of issues.
Work Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds.
Equal Employment Opportunity:
The Company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.
Americans with Disabilities Act:
Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.
Job Responsibilities:
The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The Company may change the specific job duties with or without prior notice based on the needs of the organization