Consumer Compliance Lending Specialist III
Responsible for compliance with federal, state, and secondary market laws and regulations governing the origination, processing, underwriting, closing, funding, and servicing, of all consumer loans. Assists Line of Business Management in making the necessary procedural changes to comply with Federal or State regulatory requirements. Assists the Consumer Compliance Manager in implementing new Federal and State regulations and represents the Compliance Department on implementation teams. Assists the Consumer Compliance Manager in ensuring that First Midwest Bank is in compliance with Federal and State consumer disclosure requirements by reviewing all consumer lending disclosures.
- Conduct compliance monitoring and testing for consumer lending regulations in support of the Compliance Department’s overall compliance monitoring program.
- Work with Line of Business Management to make any procedural changes necessary to comply with federal and state regulatory requirements. This includes developing or revising compliance policies and procedures for FMB and providing input into the Compliance Training program as deficiencies are identified.
- Prepare monitor reports.
- Develop, implement, and maintain regulatory checklists to be incorporated in the consumer lending process to ensure compliance with federal, state, and secondary market regulatory requirements. Work with Line of Business Management to ensure their loan processes comply with federal and state regulatory requirements.
- Assist in the coordination of examinations and audits conducted by the Bank regulators or audit staff as instructed by the Consumer Compliance Manager.
- Provide 2nd review of loan disclosures for compliance with federal and state regulations prior to dissemination to the public, as deemed necessary by the Consumer Compliance Manager.
- Work with Bank Management in researching, interpreting, and resolving bank specific compliance related issues, including consumer, business banking, and commercial related inquiries. Serve as an information source for day to day questions.
- Assists the Consumer Compliance Manager in implementing new Federal and State regulations and represents the Compliance Department on implementation teams.
- Participate in the product development process providing input regarding compliance requirements.
- Participate in system conversions processes.
- Keep abreast and informed on related compliance regulations / monitor environment.
- Attend meetings as directed by the Consumer Compliance Manager.
- Attend all training sessions, schools, and seminars as requested by the Consumer Compliance Manager.
- Assist other Compliance Department personnel as directed by the Consumer Compliance Manager.
The position responsibilities outlined above are in no way to be construed as all encompassing. Other duties, responsibilities and qualifications may be required and/or assigned as necessary.
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- Bachelor’s degree or equivalent work experience
- 6 years Bank Compliance Department experience, with 3 years minimum consumer lending focus
- Knowledge of Fannie Mae, Freddie Mac and FHA policies and regulatory requirements
- Knowledge of appraisal rules
- Project Management experience preferred
- ABA Compliance School Graduate preferred
- Compliance Certification preferred
- Strong research skills
- Strong verbal and written communications and organizational skills
- Proficient in Word and Excel