Position Overview:
The Director, Compliance provides strategic oversight of the Company’s post-closing suspense and compliance issue management functions. This role establishes and maintains a risk-based framework for identifying, assessing, escalating, remediating, and resolving post-closing deficiencies, compliance exceptions, system deficiencies, and regulatory issues. Through centralized governance, executive reporting, and cross-functional oversight, the Director, Compliance strengthens the Compliance Management System (CMS) and promotes a culture of compliance and regulatory excellence.
Job Responsibilities:
- Oversee the end-to-end post-closing suspense function, including intake, assignment, aging, prioritization, escalation, and remediation, ensuring adherence to regulatory and investor requirements.
- Conduct in-file reviews to draft responses and/or rebuttals to Compliance PCQC findings.
- Establish governance and escalation protocols for aged, overdue, or unresolved post-closing suspense items.
- Analyze post-closing suspense trends to identify systemic, recurring, or material deficiencies requiring formal issue escalation, root-cause analysis, corrective action, or broader remediation.
- Build and execute periodic diagnostic testing for suspected emerging risks.
- Govern the compliance issue lifecycle from identification through closure, including issue classification and risk rating, root-cause analysis, accountable ownership, target completion dates, escalation of overdue or materially deficient remediation, validation of corrective actions, and formal closure.
- Act as the critical point-of-contact for wide-spread/systemic issues, working with key stakeholders to identify the root cause of the issue, stopping the issue from impacting additional transactions, remedying impacted transactions, creating controls to detect/prevent future recurrences, establishing ongoing monitoring of the issue, and thoroughly documenting the issue and its resolution.
- Facilitate the corrective action lifecycle, including root cause analysis, control implementation, and post-implementation validation testing for issues identified through examinations, monitoring & testing, Post-Closing Quality Control, and Internal Audit.
- Drive continuous improvement in post-closing compliance processes through technology adoption, workflow automation, and data analytics, leveraging emerging tools to increase throughput, accuracy, and auditability.
- Develop and maintain a centralized issue management repository and reporting dashboards that promote transparency and provide timely visibility into issue status, aging, risk ratings, remediation progress, and resolution activities.
- Partner with Regulatory Change Management to identify regulatory developments that may affect post-closing controls, generate compliance issues, or require proactive remediation.
- Evaluate the effectiveness and sustainability of remediation actions through rigorous post-closure testing and validation, ensuring issues do not recur and that systemic weaknesses are addressed holistically.
- Produce executive-level compliance reporting that provides senior and executive leadership with clear, timely, and actionable insights into issue aging, emerging trends, key risk indicators, remediation progress, and the effectiveness and sustainability of corrective actions.
- Coordinate issue responses and supporting materials for regulatory examinations, internal audits, investor reviews, and other oversight activities.
- Fulfill additional responsibilities and special projects as assigned.
Qualificationsand Skills:
- Bachelors degree in a related field or an equivalent combination of education and relevant professional experience.
- 7+ years of experience within a financial institution, preferably a large or complex organization.
- 5+ years of experience in risk management or consumer compliance, specifically related to mortgage originations.
- Demonstrated proficiency in managing compliance issues, corrective action plans, post-closing deficiencies, root-cause analysis, remediation, and issue validation within a mortgage lending environment.
- Advanced working knowledge of mortgage lending and compliance processes, as well as enterprise workflow platforms, including Encompass, Mavent, Jira, and Salesforce, preferred.
- Comprehensive understanding of mortgage loan operations and associated control frameworks across the origination lifecycle.
- Advanced knowledge of federal and state mortgage lending regulations, including but not limited to the Dodd-Frank Wall Street Reform and Consumer Protection Act, QM/ATR, RESPA, TILA, TRID, ECOA, HMDA, GLBA, Fair Lending, UDAAP, and SAFE Act.
- Exceptional written and verbal communication skills to convey complex information clearly and effectively.
- Advanced prioritization and time management skills to effectively manage competing priorities and meet critical deadlines.
This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. However, this job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities, or working conditions associated with the position.
