The Loan Compliance Specialist conducts periodic testing of the Bank’s compliance with laws and regulations under the direction of the Vice President – Senior Compliance Officer. The incumbent works as part of a compliance team that supports a bank-wide initiative to ensure compliance with all applicable laws and requirements. The Loan Compliance Specialist is primarily responsible for identifying, prioritizing, monitoring, auditing, reporting and addressing risk and compliance issues as it relates to lending compliance. The Loan Compliance Specialists provides procedural guidance to the Consumer and Commercial Lending departments and assists the Senior Compliance Officer with researching and analyzing compliance related questions, with compliance projects and with administration of the Bank’s online training program. Keeps abreast of new and changing regulations and assists with providing information to other departments. Maintains the highest level of confidentiality.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES:
- Maintain excellent knowledge of current and emerging loan origination and servicing related laws, rules and regulations and agency requirements. Attend appropriate conferences, webinars and training sessions.
- Responsible for compliance with the Bank’s Loan Policy as well as the Compliance Program and procedures.
Monitor compliance with lending regulations, i.e. Truth in Lending, RESPA, TRID, ATR/QM, Fair Lending, Fair Housing, ECOA, Flood, FCRA, HMDA, CRA, S.A.F.E Act, MLA, etc. by completing monthly reviews of all residential and commercial files by use of the loan file/HMDA worksheet. Complete Flood compliance and MLA reviews annually.
Assist Commercial and Mortgage Lending with HMDA determinations for data submission on a monthly basis.
Assist Real Estate Lending with the annual HMDA data submission to ensure accuracy.
Active member of the Compliance/CRA Committee.
Administer the online training program for all employees.
Back-up to the Deposit/BSA Compliance Specialist.
- Perform other duties as assigned.
SUPERVISORY RESPONSIBILITIES, if any:
This position does not have any supervisory responsibilities.
REQUIREMENTS (Knowledge, Skills, Abilities, and Education and/or Experience):
Understanding of the banking industry, including bank operational policies and procedures and bank products and services.
In-depth knowledge of lending (residential, commercial, and consumer), including regulatory requirements, loan operational policies and procedures and loan products and services.
Current knowledge and understanding of lending regulations such as HMDA, TRID, RESPA, ATR/QM, FCRA, ECOA, Flood, etc.
Experience in internal controls, fraud risk management and fraud identification/resolution.
Strong communication skills, particularly in writing and drafting documents.
Proficient with personal computers and have working knowledge of appropriate software. Strong Microsoft Office skills.
Ability to read, analyze and interpret bank regulations, general business periodicals, professional journals and technical procedures.
Ability to multitask and work independently.
Education and/or Experience: Associates Degree in Business related field; three to five years of related Residential, Commercial and Consumer loan compliance experience; or equivalent combination of education and experience.
For consideration, please send resume to Deborah Lucci.
Mail: Salem Cooperative Bank
3 South Broadway
Salem, NH 03079
Fax: (603) 898-1760
Salem Co-operative Bank is an Affirmative Action/Equal Opportunity Employer. Applicants are considered for all positions without regard to race, color, religion, gender, pregnancy, marital status, familial status, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, gender identity or other characteristics protected by applicable law.
If you have a disability and need an accommodation to apply, please contact Deborah Lucci at firstname.lastname@example.org
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