Director of Lending Compliance

Job Type: Full-Time

Exemption Type: Exempt

Wage Amount: $99,461 yearly minimum

Primary Functions

The Director of Lending Compliance (DLC) is responsible for overseeing and managing the credit union's (CU’s) lending compliance program. This position will design and execute risk-based compliance programs, evaluations and solutions to further enhance the CU’s Compliance Management System (CMS). The Director will help ensure corporate initiatives and departmental processes comply with applicable federal and state rules and regulations.

The Director will also have oversight for leading a team of compliance professionals, identifying and mitigating potential risks, building insights, and representing the CU in examinations and audits. As the DLC, you will be critical to delivering exceptional products and services while ensuring compliance with applicable rules and regulations.

The DLC will collaborate with colleagues in multiple capacities across the organization and must possess strong verbal and written communication as well as thought leadership. This position requires compliance and business knowledge as well as strong critical thinking and analytical skills to assist in effectively solving problems, augmenting processes, and refining requirements.

People and Departmental Management

• Oversee the daily operations of the Lending Compliance team.
• Manage talent recruitment and retention; lead a team of compliance professionals and provide guidance and support, as needed.
• Assess job functions to ensure maximum efficiency and recommend staffing changes, as necessary.
• Ensure that Compliance staff maintain member confidentiality and restricted reports confidentiality.

Compliance

• Ensure an effective and efficient CMS (with a focus on lending) by:
  i. Developing, administering, executing and monitoring adherence with applicable rules, regulations and best practices,
  ii. Enabling the identification, communication and operationalization of applicable federal and state rules and regulations,
  iii. Fostering understanding of associated compliance risk(s) across the organization, as applicable, and
  iv. Identifying suitable risk mitigation strategies and partnering with management on execution.

• Oversee the implementation of lending policies and procedures to ensure compliance with regulations and internal controls.

• Construct and deploy management reports, scorecards and dashboards reflecting the status of the CMS.

• Serve as the Subject Matter Expert (SME) and direct point of contact for all lending compliance matters.

• Collaborate with management teams on the development of products, services, and processes to assess and incorporate compliance controls.

• Oversee and administer the following:
  i. Compliance Testing Program
  ii. Fair Lending Program
  iii. HMDA Program
  iv. Lending Compliance Helpdesk

• Function as the change agent and lead regulatory change management for new, modified or existing rules and regulations and oversee a process to ensure effective execution.

• Manage expenses and budget allocations.

• Develop and implement effective solutions to enhance the CU’s CMS.

• Act in the capacity of a trusted advisor on applicable federal and state rules, regulations, and associated compliance risk to the Lending Department.

• Partner effectively across all levels of the organization and develop positive working relationships.

• Work closely with the compliance leadership on enterprise risk matters as well as audit and exam requests and findings.

Training and Development

• Assist the Training and Development Department with curriculum development and/or selection for Lending.
• Develop and provide training and guidance to staff on lending regulations, guidance and best practices.
• Collaborate with Lending to evaluate Standard Operating Procedures (SOP’s) and Policy for products and services.

Risk Assessments & Self-Assessments

• Collaborate with management to identify risks and risk mitigation strategies.
• Conduct risk assessments and evaluations of the CU's products, services, applicable rules and regulations to identify potential risks and areas for improvement.
• Establish and implement standards for the first line of defense to manage and oversee compliance risks.
• Perform independent oversight and monitoring, and aggregate reporting on risks.
• Execute self-assessments of the CU’s CMS to monitor compliance and effectiveness and implement timely corrective action.

Strategic Focus

• Partner with the compliance leadership to establish enterprise compliance objectives, initiatives and strategies to be executed by the compliance team.
• Prepare proposals for management for options to implement new products, services and policies that include risks associated with each option.
• Stay abreast of changes in lending regulations and best practices and ensure that the CU is compliant.
• Maintain strong external network and market presence through active community leadership and relationship development.
• Participate on the management team by contributing ideas and concerns. Analyze, justify and recommend changes in operations to enhance productivity and/or mitigate risks.

Education and Experience

• HS diploma or GED equivalent required
• Bachelor’s degree in business or related field preferred
• Five years of financial institution mortgage or consumer compliance experience required with proven experience in developing and implementing compliance programs.
• Three years of supervisory experience required.
• MBA and/or CRCM, CUCE or equivalent professional designation preferred.

Knowledge, Skills & Abilities

• Ability to build rapport and work closely and cooperatively with employees, third parties, and attorneys.

• Proven track record of managing multiple projects in a fast-paced, high-volume environment.

• Working knowledge of a Compliance Management System (CMS).

• Strong sense of ownership and thought-leadership.

• A high level of intellectual curiosity and drive to use technology to solve compliance challenges.

• Possess strong background in compliance and financial analysis with ability to analyze information and make sound decisions.

• Strong analytical skills, excellent attention to detail, and the ability to interpret regulations and regulatory guidance and apply them to real world business scenarios.

• Outstanding written and verbal communication skills with demonstrated ability to communicate effectively with all levels of an organization.

• Strong working knowledge of the following rules, regulations and best practices including, but not limited to:

  • Consumer Complaint Program
  • Dodd Frank Act
  • Equal Credit Opportunity Act
  • Fair Credit Reporting Act
  • Fair Debt Collections Practices Act
  • Fair Housing Act
  • Fair Lending
  • Fannie Mae/Freddie Mac/Federal Housing Administration guidelines
  • Flood Insurance
  • Home Mortgage Disclosure Act
  • Military Lending Act
  • Privacy of Consumer Financial Information
  • Real Estate Settlement Procedures Act
  • Secure and Fair Enforcement for Mortgage Licensing Act
  • Servicemember Civil Relief Act
  • Telephone Consumer Protection Act
  • TILA/RESPA Integrated Disclosures
  • Truth in Lending Act
  • Unfair or Deceptive Abusive Acts or Practices
  • U.S. Department of Veterans Affairs guidelines

Desirable Traits

• Ability to communicate effectively with individuals at all levels of the credit union.
• Outstanding judgment as well as a broad understanding of the potential implications of actions and decisions.