Job DescriptionLongbridge is excited to be adding to our Compliance Department. This newly created role, Mortgage Compliance Officer, will be responsible for researching compliance with all mortgage banking laws, rules, regulations, and prescribed polices/practices/procedures necessary to reduce risk and uphold ethical standards.
Key Responsibilities/Requirements: - In-depth knowledge of state and federal consumer regulations. This includes all regulations related to mortgage lending, including but not limited to Licensing, TILA, HMDA, RESPA, UDAAP, non-bank CRA requirements and SOX.
- Review regulatory changes and assess how the changes might affect the company. Provides recommendations about necessary policy and procedural changes.
- Oversee monthly regulatory compliance weaknesses throughout the organization and work with management to identify root causes, remediation steps, and tracking of the issues.
- Contributes to the compliance training program. This may include identifying training courses, webinars, etc.; however, it may also include creating compliance related training and providing the training through various methods.
- Monitor federal and state regulatory sources (CFPB, HUD, TILA, HMDA, RESPA, UDAAP state agencies) for new rules, guidance, and legislative updates affecting mortgage lending.
- Draft compliance alerts.
- Maintain a regulatory change log and ensure all updates are documented, categorized, and escalated appropriately.
- Summarize complex regulatory changes into clear, actionable summaries for operations, sales, and executive leadership.
- Design and maintain spreadsheets and tracking tools to document changes made in the Loan Origination System (LOS) including version history and effective dates.
- Prepare reports, presentations, and meeting materials for internal and external compliance reviews.
- Assist in implementation of compliance policies and procedures.
- Respond to compliance-related inquiries from other departments within the company.
- Reverse mortgage experience is a plus but not required.
Qualifications- Bachelor's degree is required with a minimum of five (5) in a compliance role with a financial institution.
- Knowledge in mortgage banking and consumer compliance laws and regulations.
- Ability to form effective relationships and achieve influence at the most senior level in the organization.
- Proactive, motivated, strong attention to detail, and proven track record in building good working relationships.
- Ability to work independently as well as in a team environment.
- An understanding of when issues require escalation.
- Working knowledge of the Microsoft Office Suite of products.
- Analytical writing skills along with strong verbal and written communication skills.
Additional Information- Working in a growing and dynamic industry
- Full benefits: Medical, Dental, Vision, FSA/HSA, and wide array of voluntary products and discounts
- 401(k) with company match
- Paid time off
- This is an exempt role
- Target base salary range is 130 - 135K, which is based on various factors including skills and work experience.
- In addition to base salary, this role is eligible for a competitive additional compensation program via annual bonus that is based on individual performance.
- Please note that salaries that are estimated on various job sites may not reflect the actual compensation. Job sites, set the estimated salary, not Longbridge Financial.
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