Manager, Mortgage Compliance
PenFed Credit Union is hiring a Mortgage Compliance Manager in Alexandria, VA. The primary purpose of this job is to lead a team of compliance professionals to develop and manage a comprehensive compliance program for assigned products, services and business operations.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.
- Maintain and continually updates knowledge of current federal and state laws and regulations. Stays abreast of regulatory changes and provides compliance direction to business units in the implementation of new regulations and changes to existing ones.
- Ensure business goals and objectives are consistent with current regulations and upcoming regulatory changes, offering compliant alternatives as needed.
- Maintain up to date knowledge of operational policies, procedures, and systems in assigned business areas.
- Review proposed changes to policies and procedures, forms, training materials and other documents, and provides compliance related feedback as required.
- Perform periodic risk assessments and direct assigned team in the regular compliance monitoring of assigned products, services and transaction processes.
- Provide effective oversight and mentorship of compliance officers.
- Provide guidance to assigned compliance team in activities related to monitoring complaints, reviewing marketing material, reviewing systems change enhancements, drafting disclosures and training materials, responding to inquiries from the generic compliance mailbox, reviewing audit and examination reports, coordinating and documenting corrective actions for assigned products and services.
- Ensure assigned team monitors website and social media sites, and reviews all marketing materials related to assigned products and services for compliance with federal and state regulations and PenFed policies.
- Oversee the compliance aspects of new product and service development projects to ensure regulatory compliance requirements are understood and incorporated throughout the product’s life cycle.
- Monitor the compliance mailbox and assign compliance officers to complete a prompt compliance review of advertisements and other marketing materials, as well as employee inquiries.
- Oversee development of compliance training courses to meet the needs of employees working with assigned products and services and provides compliance training to assigned business units.
- Develops and update materials as needed, and answer questions from participants and managers. Ensure employees understand how their job duties and responsibilities fit into the overall compliance program.
- Research specific consumer complaints as assigned, provide assistance to managers, audit services and coordinator of executive correspondence as requested.
- Research and provide responses to compliance questions from employees, coordinating with other compliance staff, business unit managers and other subject matter experts as needed.
- Supervise assigned staff, to include interviewing, hiring, training, and managing day-to-day activities. Plan, assign and direct work performed by the team. Write performance appraisals and provide coaching.
- Participate in compliance working group meetings, compliance staff meetings, and meetings with business line managers, credit risk, and others as appropriate.
- Assist with maintaining PenFed’s compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.
- Work with credit union leadership, including executives, to help identify and clarify expressed needs and concerns.
- Assist in the assembly of routine and ad hoc reports for management and the board, preparation for examinations and audits, and development of board presentations.
*This role is responsible for ensuring business continuity.*
Education and Experience
Equivalent combination of education and experience is considered
- Bachelor’s Degree or equivalent combination of education and related work experience is desired.
- Minimum of eight (8) years of experience at either a financial institution or bank regulatory agency, with a portion of those years spent a compliance capacity. The combined work experience must provide an in-depth knowledge of operational functions, consumer banking regulations and regulator expectations for an effective compliance program.
- Minimum of three to five (3-5) years of Supervisory/Assistant Manager experience.
- Extensive understanding of credit union products, processes and compliance risk management processes.
- Well-developed ability to identify compliance and reputational risks associated with social media and online banking as well as product and process changes.
- Demonstrated knowledge of federal laws and regulations related to assigned products is required.
- Strong working knowledge of operational policies and procedures (either at PenFed or other institutions) is required.
- Effective presentation skills to enable the incumbent to organize, participate in, and conduct effective meetings and training sessions with employees at all levels of the organization, and members of the board.
- Effective writing and communication skills.
- Excellent research skills and the ability to document findings and project work. Knowledge of the primary resources for tracking federal and state banking laws.
- Well-developed analytical and critical thinking skills.
- Demonstrated project management skills.
- Ability to train, develop and supervise assigned staff effectively.
- Ability to remain composed and make appropriate decisions under stressful conditions, which may involve dealing with a wide range of assignments and timetables for completion.
This position will supervise employees.
Licenses and Certifications
Compliance competency certification is required or must be obtained within 12 months of the start date in this position.
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*
Ability to travel to various worksites and be on-call is required.
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.8 million members and over $25 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.
Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.
We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.
Equal Employment Opportunity
PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.
PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at Phone number blocked - click to apply.