Job Description
Brief Description of the Organization
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
Description
The
position functions as a trusted advisor and subject matter expert with
respect to the regulatory compliance issues applicable to mortgage sales
including Sales Practices, UDAAP, and Fair Lending. Routinely serves
as a Compliance representative in project discussions and other business
meetings, and is regularly relied upon by business management to
proactively identify potential regulatory compliance risks and recommend
mitigation strategies. Performs ongoing compliance advisory and
monitoring, including by providing answers/guidance to
compliance-related questions and identifying compliance and reputational
risks.
Reviews and approves business policies,
procedures, training, and scripting. Reviews, tracks and trends
corrective action plans, IA findings, compliance review findings,
complaints, and business quality monitoring to identify compliance
trends and issues, and advises and escalates issues as appropriate.
Keeps abreast of changes in regulatory environment and advises business
management of new requirements and future trends.
This role will interact frequently with senior
management, sales management, and Compliance Management. The candidate
must be well versed in mortgage products and programs and have the
ability to drive resolution of issues as they are identified.
Primary responsibilities include:
- Design and conduct compliance monitoring activities to verify key controls are functioning and identify emerging risks or trends.
- Keep abreast of existing, new and pending laws and regulations impacting the mortgage industry. Communicate changes and partner with Sales to dimension impact to the practices and implement necessary changes.
- Analyze changes to policies and procedures to determine/ approve required compliance with regulations and policies.
- Support Compliance Testing function and other control partners, ensuring test plans are designed to effectively identify regulatory deficiencies.
- Participate in various strategic business initiatives and ad hoc compliance projects as assigned.
- Draft and review periodic Compliance memos, reports and advisements. Escalate issues pursuant to established policies and guidelines.
- Must have the ability to travel for Sales and Partnership office reviews - approximately 5-10% travel required.
Qualifications
Education/Experience:
Bachelor’s degree required, J.D. preferred, but not required. Certified
Regulatory Compliance Manager (CRCM) or similar professional
designation highly recommended, but not required. At least five years’
related mortgage compliance or other financial institution Compliance,
Control, Risk, or Legal experience required.
Strong knowledge of mortgage regulations and related originations processes, including but not limited to:
- Unfair, Deceptive or Abusive Acts or Practices Act (UDAAP)
- Equal Credit Opportunity Act (ECOA/Reg. B)
- Truth-In-Lending Act (TILA/Reg. Z)
- Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act/Reg. G)
- Real Estate Settlement Procedures Act (RESPA/Reg. X)
- Fair Credit Reporting Act (FCRA/Reg. V)
- Home Mortgage Disclosure Act (HMDA/Reg. C)
- Privacy portion of Gramm-Leach-Bliley Act (Reg. P)
- E-sign Act
- Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
- Knowledge of state mortgage regulations a plus.
- Strong interpersonal skills with the ability to work collaboratively and with people at all levels of the organization;
- Ability to think critically and respond to the time-sensitive needs of the business;
- Excellent attention to detail with emphasis on analytical and problem-solving abilities;
- Strong organizational skills with the ability to track multiple projects and deliverables at once;
- Strong sense of accountability and work ethic; and
- Demonstrated ability to prioritize and drive results with a high sense of urgency.
Experience: 5-7 years experience
Location: O’Fallon preferably; will also consider Ann Arbor
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