Account Service Operations - Servicing And Oversight Analyst

JOB DESCRIPTION: SERVICING AND OVERSIGHT ANALYST

DEPARTMENT: ACCOUNT SERVICE OPERATIONS

STATUS: NON-EXEMPT

JOB CODE: 4352

PAY SCALE: $32.39 - $33.50 HOURLY

GENERAL DESCRIPTION:

The Servicing and Oversight Analyst is responsible for implementing and testing controls to ensure that internal and vendor processes are compliant with regulations and working as intended. This position will be responsible for identifying when controls may be necessary to reduce inherent regulatory and operational risks based upon probability and impact of breakage. The Servicing and Oversight Analyst is also responsible for quality assurance call monitoring, researching, responding to first mortgage escalations, and acting as a liaison between the business unit and internal/external audits. The Servicing and Oversight Analyst will also identify and interpret regulatory requirements; Provide monthly reports to management to summarize test findings and potential negative impacts to members. Recommend process improvements and track progress to ensure that gaps are remediated; Update test scripts to reflect regulatory changes that impact first line monitoring.

TASKS, DUTIES, FUNCTIONS:

1. Review processes and identify areas of inherent risk based on probability and impact of breakage. 
2. Assist with the design and recommend controls to effectively monitor and minimize inherent risk to the department and credit union. 
3. Develop and conduct tests scripts on internal, vendor and mortgage subservicing processes and provide analytical results on findings.
4. Identify and interpret regulatory requirements; recommend and implement changes to test scripts as needed based on regulatory changes and mandates. 
5. Make recommendations for processes improvements as needed.
6. Apply knowledge in all servicing areas such as: collections, mortgage servicing, loss mitigation, foreclosures, repossessions, bankruptcies, litigation and loan administration.
7. Provide monthly reports to management and corporate compliance to summarize test findings and potential negative impacts to members. 
8. Develop tracking mechanisms for gaps and remediation activities and provide reporting on remediation progress.
9. Maintain awareness of industry trends and current technologies in behavior and other scoring tools.
10. Maintain a thorough understanding of state and federal laws and regulations related to credit union servicing compliance including SCRA, FDCPA, TCPA, FCRA, BSA, RESPA, Collections, Bankruptcy Loss Mitigation, Foreclosure, Escrow, Lender Place Insurance laws appropriate to the position, and Credit Union Corporate/Board Policies.
11. Assist Manager/Supervisor with special tasks or projects as needed.
12. Support department goals by meeting performance standards in all areas of the collection process.
13. Monitor vendor invoices for inconsistencies and trends. 
14. Perform call monitoring based on industry standards and regulatory requirements.
15. Assist in developing job aid and procedures.
16. Assist in training peers.
17. Perform vendor oversight functions to ensure vendors are in compliance with regulatory and contractual requirements.
18. Research and respond to escalations related to first mortgage.
19. Meet with business partners and vendors to discuss test results and advise remediation development.
20. Perform other duties as assigned. 

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:

1. Effective oral and written communication skills required.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone. 

ORGANIZATIONAL CONTACTS & RELATIONSHIPS:

1. INTERNAL:  All levels of staff and management.
2. EXTERNAL:  Members, vendors, and peers in financial institutions.

QUALIFICATIONS:

1. EDUCATION: Bachelor's Degree in related field or equivalent work experience.
2. EXPERIENCE: Minimum five (5) years' experience with various areas of servicing including but not limited to collections  Mortgage, HELOC's, Equity products, Bankruptcy, Legal Settlements, loss mitigation, repossession or related field

, within financial institutions.

1. KNOWLEDGE/SKILLS: Advanced knowledge of consumer loans and mortgage servicing , operations, and administration processes. Effective oral and written communication skills required to make presentations and discuss servicing risk issues and systems information and operations.  Must be able to manage time effectively, Strong research, investigative, attention to details, and analytical skills and make sound business decision, and interpersonal skills. Advance knowledge of software applications as mentioned above, including Microsoft Word, Excel, , and Power Point.

PHYSICAL REQUIREMENTS:

1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range.  A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Long work hours may be required to accomplish tasks, including nights and weekends.

LICENSES/CERTIFICATIONS: 

None

REV. 9.29.2023