Lending Compliance Officer-Mortgage in SoFi at Cottonwood Heights, UT, US

Job description

About The Role

This leader participates in the development, implementation and administration of the Company’s Compliance Management Program for all Lending activities, including Mortgage, Student Loans and Personal Loans. This position has a primary focus on Mortgage lending.

Plans, organizes and controls the company’s day-to-day administrative and lending compliance activities, as well as cooperates with the Lending Compliance team in the overall administration of the legal and compliance directives for the company. Participates in various committees, audits and examinations, as well as tests the processes and infrastructure of Mortgage Operations. Advises Compliance and Legal personnel on emerging compliance issues and consults and guides the company in the establishment of controls to mitigate risks.

Engage with Lending Compliance staff to enable appropriate knowledge, expertise and business acumen to meet the increasing demands of the client and rapidly changing regulatory environment. Leverages subject matter expertise to ensure that Compliance department personnel possess a sound understanding of relevant mortgage laws, regulations, rules, standards, and internal guidelines and their practical impact on the business.

By joining SoFi, you're joining a new kind of finance company based around speed, transparency, and alignment with our members’ interests. Our goal is to be the center of our members’ financial lives. We created student loan refinancing, addressing the biggest financial challenge this new generation has through a new approach to lending. We expanded into other types of loans, and then into insurance and wealth management with similarly inventive products. As the company has grown, we’ve been able to help more people with these tools.

SoFi has achieved significant growth, with big plans ahead. In just the last year, we've more than doubled our member base (260,000 strong), doubled loan volume ($8 billion in 2016), and grown our team from under 200 people to more than 1,000. We're preparing to go global, with expansion to Australia and Canada planned this year. And we're well capitalized to power all this growth, having raised $1.9 billion in equity backing. But we'll only be able to continue this growth with great talent, and that includes you.

Responsibilities

• Develop, document and maintain compliance program for SoFi Lending and/or SoFi mortgage lending and operations, including risk assessments, development and maintenance of applicable policies, procedures and guidelines and monitoring, testing and reporting protocols that are appropriately tailored to prevent, detect and correct specific compliance risks.
• Leads in the preparation of departmental policies and procedures.
• Serves as the primary resource for lending compliance related questions and issues to ensure departmental compliance with applicable regulations, as well as a subject matter expert in all Mortgage lending compliance and operations activities.
• Oversees and whe necessary, conducts scheduled regulatory compliance reviews of loan files to ensure compliance with various procedures and regulations.
• Interacts directly with internal and external auditors and examiners and acts as the primary point of contact for these activities.
• Collaborates in the activities of the Lending Compliance team as it relates to gathering of information responsive to exam/audit requests.
• Coordinate and/or review approval of all mortgage lending related advertising to meet state and federal requirements.
• Works closely with other Mortgage Compliance Officers, Chief Compliance Officer and General Counsel’s office to administer the PSAR and SAR filing process as outlined in the BSA/AML Policy.
• Prepares and maintains Risk Assessments as outlines in the Compliance Management Program.
• Develop and lead implementation of annual compliance training program on compliance topics relevant to SoFi Lending to enhance personnels’ knowledge and understanding of compliance policies and procedures, relevant laws, regulations and standards of good business.
• Maintain a strong presence in the business to promote an environment where individual staff will seek compliance guidance when they have questions.
• Provide guidance to management, staff on corporate and business compliance standards.
• Escalate compliance issues and potential violations of compliance policies and procedures, laws, regulations and standards of good business to the Chief Compliance Officer and General Counsel as appropriate.
• Periodic reporting to senior management, board of directors and other Company stakeholders.

Qualifications

• A Bachelor’s degree from a 4-year college or university and/or 10+ years of related experience.
• Ten or more years direct experience in mortgage compliance. Additional direct experience in mortgage operations, with practical understanding of the implications of RESPA, HMDA, TILA, ECOA, FCRA, UDAAP, State and other regulations on internal processes and procedures.
• Certified Regulatory Compliance Manager (CRCM) certification preferred.
• Very strong organizational skills and the ability to work and deliver projects and achieve targets independently, proactively and under pressure.
• Working knowledge of loan origination process including disclosures, processing, closing and post-closing.
• Excellent verbal and written communication skills required with emphasis on analysis and reporting.

Benefits

• Catered lunches, a fully stocked kitchen, and subsidized gym membership.
• Competitive salary packages and bonuses.
• A flexible vacation policy allows you to truly relax and reboot.
• Comprehensive health, vision, dental, and life insurance as well as disability benefits.
• 100% of health, vision, and dental premiums paid by SoFI for employees and their dependents.
• 401(k) and education on retirement planning. 

• Tuition reimbursement on approved programs, up to $5,250 a year.
• Monthly contribution to help you pay off your student loans.