This crucial management position exists at the Bank to manage the customer-facing Disclosing Management and Business Strategy Analysis team. This position is critical to the mission of the Bank’s Mortgage Fulfillment Operation to enhance customer service, reduce cost and decrease overall risk to the Bank. Disclosure Management ensures the timely and accurate creation and delivery pursuant to regulatory guidelines and time frames of the initial loan estimate. Mistakes on the initial loan estimate could result in non-compliant loans and restitution costs charged to the Bank. Disclosure Management’s function also supports the Bank by protecting against several forms of penalties and fines from federal regulators, including the Office of the Comptroller of the Currency (OCC) and Consumer Finance Protection Bureau (CFPB), and helps lessen the risk of repurchase requests from agencies and investors. Business Strategy Analysis is responsible for analyzing all tolerancy cure discrepancies identified from within and outside of the Bank and resolving them within tight specified regulatory timeframes. This is KRI reportable and is closely monitored by executive level management up to and including the CEO and Board of Directors. This includes working closely with Settlement Agents in order to determine fees and pursuing compliant resolutions. This individual is also responsible for identifying deficiency trends for settlement agents, MA’s and staff. Upon identification of deficiencies, timely communication must take place with all necessary parties in an effort to reduce the total number of occurrences of tolerance errors. Knowledge of the entire mortgage process of lending is required. This position requires superior understanding of federal regulations, investor guidelines and Flagstar internal policies and procedures, knowledge of TILA/RESPA Integrated Disclosure guidelines specifically; knowledge of how each compliance test operates and if/when tolerances are applicable, as well as, implications of risk associated with non-adherence. A solid understanding of the rule/guidelines surrounding restitution for regulatory/compliance violations is critical. This position monitors production and loan origination quality. Quality trends will be captured, analyzed and shared with the customer and Sales. This position will build and encourage/mentor staff to build strong relationships with customers and Sales and ensures smooth processes for pipeline movement. Responsible for partnering with various internal departments including Funding, Closing Services, Underwriting, Legal, Compliance, Sales, Processing, Post Closing Loan Review and Post Closing Compliance Review for initiating, maintaining and evolving the loan framework within Fulfillment. The ability to work effectively under pressure within limited timeframes in a fast paced environment with multiple deadlines and competing/ever changing priorities to meet regulatory and Service Level expectations is required. The individual must have excellent written and oral communication skills. Qualified candidates must have effective customer service skills which will be necessary to develop staff and implement new processes effectively. Proficient performance will help the Bank maximize efficiency and profit. Position requires the talent to analyze, recognize, and mitigate areas of risk to the Bank.
20% of time resolving escalated issues from both external and internal customers. Utilizing a superior detailed understanding of all TILA/RESPA Integrated Disclosure rules to clearly articulate findings and provide comprehensive training to eliminate future occurrences. Dealing directly with Regional and Area Sales Managers, Analyzes risk to determine if and when exceptions can be granted.
20% of time monitoring restitution information, analyzing restitution trends and working with internal groups and Sales to create action plans to reduce the overall percentage of restitution by amount and occurrence. Training, coaching to mitigate disclosure errors with sales team and staff.
20% of time managing the analyzation of all LE discrepancies identified from within and resolving within specified regulatory timeframes. Will also be responsible for identifying trends for settlement agent, sales, disclosure team deficiencies to reduce the total number of occurrences.
10% of time management responsibilities are performed by reviewing departmental reports to ensure accuracy and make sure all deadlines are met. Manage Supervise disclosure team to ensure production queues are monitored ensuring adherence to stated turn times and that volume is effectively load balanced.
10% of time developing, reviewing, and maintaining processes and procedures for Disclosure Management and Business Strategy Analysis teams to satisfy compliance requirements that all process updates are tracked and correctly implemented. Develop comprehensive materials for training on and off shore staff ensuring adherence to all regulatory and agency requirements/guidelines.
10% of time working closely with IT in the development, testing, modification and implementation of system enhancements.
10% of time communicating with Compliance for clarity, interpretations and guidance on existing and updated regulatory guidelines and incorporating into existing departmental processes.