Manager, Fair Lending Compliance

Exceed the expectations of our residential mortgage borrowers & business partners through superior service, simple processes, and effective communications.

We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.
 

POSITION SUMMARY

The Manager Fair Lending Compliance is responsible for managing the Company’s fair lending program to ensure that the Company complies with all fair lending laws and regulations. This position will oversee fair lending monitoring and testing of the Company’s lending portfolios, advise on fair lending risk issues identified through monitoring and testing, partner with the business unit managers to identify and remediate any fair lending risks, and ensure that employees are appropriately trained to comply with fair lending requirements.

DIRECT REPORTS

• Sr Compliance Analyst- Originations
• Compliance Analyst- Originations

DESCRIPTION

Duties and Responsibilities

• Serve as the Company’s subject matter expert in fair lending laws and regulations.
• Oversee the Company’s annual fair lending activities and execute routine testing pursuant to the Company’s fair lending plan.
• Manage a robust fair lending program, including maintenance of written fair lending policies and testing procedures, risk reporting tools, including key risk indicators.
• Manage day-to-day Fair Lending Compliance workflow processes, provide leadership and guidance to compliance associates via auditor training, staff meetings and individual communication.
• Conduct an annual risk assessment that evaluates the Company’s fair lending risks, and determines the direction of the Company’s fair lending plan to mitigate fair lending risks from underwriting, pricing, marketing, steering, and redlining.
• Review the fair lending team’s periodic fair lending reviews, including ongoing comparative file reviews, marketing analyses, pricing exception analyses, and redlining reviews, to identify risks and ensure appropriate remediation occurs.
• Maintain detailed work papers to support findings from fair lending analyses, and prepare clear and concise written reports that identify and explain the root cause of any risk issues and the necessary remediation plans.
• Assist with preparation of quarterly reporting to the Board of Directors regarding the level and direction of fair lending risk, status of remediation efforts, and communicate emerging trends or issues.
• Perform personnel managerial duties such as goal setting and tracking, performance monitoring and coaching, ensuring associate engagement, and other typical managerial duties.
• Performs related duties as assigned by management.

Qualifications and Education Requirements

• High School graduate required. 
• Bachelor’s degree is preferred.
• 6-8 years of experience in both mortgage and/or consumer lending with demonstrated experience in Compliance and Fair Lending.
• Minimum of three (3) years of management or supervisory experience with demonstrated ability to effectively lead other professionals
• Experience with fair lending laws and regulations, including but not limited to Fair Housing Act, Community Reinvestment Act (CRA), HMDA, and ECOA is required.
• Experience with completing statistical analyses and testing to address fair lending concerns, including the use of statistical analyses to prepare action plans.
• Direct experience and proven ability in partnering with various lines of business to develop remediation plans to address quality concerns and implement process improvements.
• Advanced experience of Microsoft Office, with an emphasis on Microsoft Excel, PowerPoint, and Word
• Experience in the use of mortgage fair lending software, such as nContracts or RiskExec.

Skills, Abilities, and Knowledge

• Requires advanced knowledge of mortgage lending operations and consumer compliance statutes.
• Proven leadership and management skills with demonstrated ability to build working groups to realize goals.
• Strong project management, organization skills and ability to work independently with minimal supervision.
• Communication skills, verbal and written, capable of expressing complex issues to a broad audience
• Required leadership skills to enable the team to ensure appropriate staffing and organizational structure is in place to support the mortgage operation. 
• Must possess the ability to work efficiently and accurately, with proven success in a fast-paced environment
• Must be detail-oriented and demonstrate careful decision-making, and problem resolution skills.

Additional I