Founded in early 2008, Fay Servicing is committed to providing innovative servicing solutions for both performing and non-performing mortgage loans. As a specialty mortgage servicer who sees the customer behind every loan, we understand that our customers aren’t loan numbers — they’re homeowners.
Before founding our company, we conducted an exhaustive analysis of the mortgage servicing industry and gained valuable insight into the problems facing mortgage servicers and their customers. With that insight, we set out to build a different kind of servicing company from the ground up.Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a VP, Originations Compliance to join our team!Reporting to the Chief Compliance Officer, this position is responsible for overseeing compliance initiatives across the company’s residential and business purpose loan origination operations.
This position supports the execution of the Compliance Management System (CMS) by partnering with senior leadership to understand the proposed strategy and direction of the business in order to provide guidance on how to deliver production volume while effectively managing compliance risk. This position identifies, escalates, and mitigates compliance risks and provides timely advice regarding regulatory requirements, regulatory change and expectations, and the implementation of controls.Additionally, this role supports the delivery of all content produced, including policies, procedures, job aids, letters, forms, and marketing materials, ensuring appropriate representation and adherence to all loan origination regulations. This position assists with audit and exam preparation and response, coordinates the schedule, and conducts risk assessments and compliance monitoring activities.
What you will do for Fay Servicing:
- Lead and oversee the compliance programs related to mortgage originations; ensure the business activities comply with all applicable laws, regulations, and internal policies
- Independently assess existing and emerging compliance risks associated with regulatory and business changes
- Advise and direct business leaders to ensure regulatory requirements are addressed in their respective procedures, controls are in place and daily activities operate in a compliant manner
- Identify, report, and escalate compliance risks, issue,s and control enhancements needed to mitigate risk
- Identify compliance training needs and provide subject matter expertise to support the development of the training curriculum
- Develop, implement, and maintain policies, procedures, and job aids to ensure current regulatory requirements are reflected; regularly review and update policies to ensure alignment with changing laws
- Draft and edit borrower communications, letters, and forms as directed
- Oversee internal and external audits and regulatory examinations related to mortgage originations; prepare and respond to regulatory inquiries, audit,s and exams, ensuring full compliance with applicable laws
- Partner with business leaders and SMEs across departments to ensure policies have been established for all processes and that content is appropriately defined and documented
- Conduct regular and periodic reviews of existing documentation to ensure compliance and consistency with current regulations and practices
- Report to senior management on compliance status, risk mitigation efforts, and any compliance-related issues; act as the subject matter expert for compliance matters related to loan origination processes
- Conduct compliance risk assessments and monitoring activities
- Manage the Regulatory Change Process for the Origination business
- Lead team projects and initiatives to include implementing regulatory changes across the business and ensuring BSA/ AML program requirements are met; proactively inform management about project status, issues, or concerns
- Develop domain knowledge of Fay’s business to include an understanding of short-term goals and long-term strategies for the organization
- Lead with broad influence through the ongoing development of relationships across the organization
- Ensure compliance with Fay’s policies, processes, and practices to include successful completion of all department and company-required training
- Ensure audit and control processes are implemented, regularly assessed, current, and followed
- Role model ethical standards, professionalism, and code of conduct
- Ensure demonstrated behaviors of both self and team align with Fay's Values and Operating Principles
- Maintain a current working knowledge of federal, state, and local regulatory requirements; ensure audit and control processes are current and followed in compliance with federal/ state requirements
- Perform other duties and responsibilities as assigned
What you will bring to Fay Servicing:
- Bachelor’s degree in a related field, or equivalent work experience; CRCM certification preferred
- 5+ years’ experience in compliance or legal roles, with a background in real estate or mortgage originations
- Proven experience working directly with regulatory agencies to ensure compliance with mortgage regulations, leading external audits of financial/ operational processes, and partnering with legal teams to manage contracts, mitigate risks, and resolve legal and regulatory issues
- In-depth knowledge of loan origination laws, federal and state mortgage regulations, compliance frameworks,s and mortgage lending practices
- Demonstratable ability to read and comprehend regulatory content; ability to translate complex information into easy-to-understand language
- Strong project management abilities with demonstrated experience leading cross-functional engagements
- Strong skills and experience in MS Word, Excel,l and PowerPoint
- Strong verbal and written communication skills
- Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization to influence and drive required results
- Effective management skills include talent selection, training, coaching, mentorship, and performance management
- Strength of leadership with proven ability to foster an environment of positive employee engagement and trust
- Demonstrated ability to quickly establish credibility; coupled with recognizing and supporting the organization’s culture, values, and priorities
- Collaborative and consultative work style
- Able to manage and lead change; agile; high learning agility
- Client-focused with strong execution skills and a results orientation; able to link to business needs with tactical execution and results
- Strong analytical skills coupled with sound judgment; strong problem-solving abilities
- Ability to analyze and interpret data to identify opportunities and propose solutions
- Strong project management skills with the ability to effectively lead matrix teams
- Strong attention to detail; strong quality and compliance orientation
- Ability to effectively prioritize under tight deadlines in a fast-paced, dynamic environment; effective time management for self and team
- Self-directed; ability to proactively surface questions, opportunities, issues and concerns
- Professional maturity, integrity, ability to maintain confidential data and information
- Strong business acumen; strong fiscal and technical aptitude
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S.
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