Financial Crime & Compliance Consultant
Quality Control Analyst
A banking client of ours based in Detroit is looking for an Analyst to join its QC team. You'll report in to the Quality Control Manager, but also interact regularly with the Underwriting and Loans teams. You will review mortgage loans against the banks credit standards, relate regulatory and legal requirements whilst completing all underwriting functions in accordance with various program requirements too. Responsibilities include:
- Completing quality control reviews using practical experience to interpret all internal and external policies and procedures provided by the Bank's internal overlays in both prefund and post-close review process ensuring integrity within the origination production
- Ensuring re-verification activity was performed and it validates the information used to approve and close the loan
- Monitoring compliance to state and federal regulatory requirements in a loan sample ensuring existence and accuracy of legal documents, credit documents and property appraisals used by the bank to reach an underwriting decision
- Reviewing each loan for adherence to contractual agreements between the bank and investors in the loan sample.
- Completing reporting and data analytics including trend analysis, objective analysis, evaluations, observations and recommendations for all QC review audits performed not limited to, targeted/discretionary, canceled/denied, and third-party originations.
- Check all audit findings for completeness and accuracy updating, reviewing and responding to exceptions/defects or rebuttals until the report is reconciled and closed out.
- Identify red flags in the loan production process, conducts research and escalates issues to the manager or appropriate department.
- Performs tasks and projects as designated by the Quality Control Manager.
- Bachelor's degree
- 3-5 years' related experience in mortgage underwriting or processing.
- Strong knowledge of federal & state residential lending necessary.
- Strong knowledge of data analytics including reviewing trends and statistical outliers.
- Knowledge of Encompass and Second Look by TENA software is preferred
If you are interested in exploring this opportunity, please get in touch!