Title: Flood Compliance Support Specialist
Location: San Francisco
Primarily responsible for conducting preapproval and/or preclosing QC reviews on residential mortgages with a focus on regulatory compliance pertaining to Flood Insurance requirements (FDPA). The Specialist will review key source documents in the imaged loan file and LOS screen data to validate documents for completeness, timeliness, accuracy, and compliance with regulatory guidelines primarily pertaining to Flood (FDPA), but may also include HMDA, TILA/RESPA, and other mortgage regulations. The Specialist will collaborate with Loan Specialists, Executive Loan Committee, Closing, and others to facilitate the clearing of errors and exceptions prior to loan closing. Additional responsibilities will include being an active partner with internal business groups who develop solutions to mitigate compliance risk and assisting with other daily production related tasks. The primary goal of this position is to mitigate compliance errors and provide support for loans requiring Flood Insurance. It may be necessary to liaise with external contacts (e.g., insurance agents, appraisers, etc.) to help facilitate loan processing and closing.
- Perform thorough Flood Insurance QA for loans at the preapproval and/or preclosing stage; working closely with the loan teams, Regulatory Risk Management, and Compliance groups. Provide support as a subject matter expert related to Flood Insurance requirements to assist loan teams as necessary. May also engage with the Bank’s external vendors (e.g., appraiser and insurance broker).
- Update key performance reporting data and share insights about opportunities to improve the Lending QC process with respect to workflow, communication, job aids, systems, or other constructive suggestions.
- Perform duties and responsibilities specific to department functions and activities or as assigned by supervisor.
- Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, including those related to AntiMoney Laundering (i.e. Bank Secrecy Act, USA PATRIOT Act, etc.), 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity to the BSA/AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank.
- Proactive individual able to operate efficiently in a fast-paced environment.
- Quick learner and ability to manage multiple priorities.
- Proven ability to work under pressure and meet strict deadlines.
- Ability to comprehend detailed information presented in a digitized format.
- Ability to succeed in a team-oriented work environment.
- Excellent verbal and written communication skills.
- Provides extraordinary service.
- Furthers the First Republic Bank culture and values.
- Experience with Flood service providers (e.g., DataVerify, LERETA, etc.) required.
- Strong working knowledge of MS Word / MS Outlook / MS Excel.
- Experience with NetOxygen, OnBase and/or TotalPlus applications a plus.
- High School diploma
- 23 years of experience in a consumer mortgage compliance related environment, specifically related to Flood Insurance requirements (FDPA)
- Bachelor’s Degree