Mortgage Fraud Quality Assurance Specialist

Position Title
Mortgage Fraud Quality Assurance Specialist
Location
Headquarters-Troy, MI
Job Summary
The Mortgage Fraud Investigation Unit (MFIU) Quality Assurance (QA) Specialist is responsible for oversight of the Mortgage Fraud Investigation Unit (MFIU) Quality Assurance program. This includes the review of all suspicious activity monitoring and reporting for accuracy and timeliness. This role will act as a liaison between the MFIU and Financial Crimes Compliance (FCC) to ensure any regulatory changes are communicated to the MFIU. Additionally, the MFIU QA Specialist will be responsible for responding to all associated reporting as required for monitoring the overall performance of the MFIU.
This position will report directly to the Mortgage Fraud Director and will be responsible for conducting the following:
• Quality Assurance review on a selection of loans with an investigation result of No Fraud Found.
• Quality Assurance review on all loans with an investigation result of Fraud Found or Inconclusive.
• Trackable Error Quality Assurance review on all investigations which insures close out steps of the investigation have been executed properly.
• Provide day-to-day guidance and/or training.
This position is also responsible for ensuring the timely and accurate completion of all suspicious activity monitoring and reporting in accordance with FinCEN and FFIEC regulations and guidance. This position will develop MFIU processes and procedures and provide guidance and requirements to the business unit on regulatory, transactional, and documentation issues.
Job Responsibilities:
JOB RESPONSIBILITIES
The primary responsibilities of the job and the approximate % of time devoted to these core duties/responsibilities. Accountabilities should be detailed which include all essential job functions and reinforce the strategy and business plan of the organization as well as the business unit. List 4-8 primary responsibilities broken down into % of time spent on duties. Each % of time should be at least 10% and all items should total 100%.
Ensure the timely and accurate completion of all suspicious activity monitoring and reporting in accordance with FinCEN and FFIEC regulations and guidance. This includes, but is not limited to:

• Review each SAR filed - Verify/Validate information entered into each field.
• Review investigation narrative for detail and accuracy
• Confirm correct suspects have been identified.
• Participants added to High Risk (if not named as suspect)
• Submit each file for SAR filing (advance steps, send notification email to FinCEn mailbox)

Complete Quality Assurance reporting, which includes, but is not limited to:

• Report all observations/discrepancies to Investigator.
• Provide guidance regarding errors (corrective measures)
• Complete QA Tracker to compile QA scoring for each Investigator.

Trackable Error Review

• Review all closed investigations to insure the identified close out process has been adhered to.

Reporting:

• Weekly reporting to verify all loans submitted have been filed.
• Weekly reporting to confirm e-mail notifications have been received on all loans pending review.
• Create reports for management related to quality /performance.

Act as liaison between the Mortgage Fraud Investigation Unit (MFIU) and Financial Crimes Compliance (FCC) Business Units to:

• Respond to Quarterly FCC Quality Assurance review findings.
• Establish regular meetings with FCC to insure any FinCEN and FFIEC changes are communicated to the MFIU.

Training:

• Communicate and document any process updates and/or trends to MFIU team.
• Create and Conduct training.
• Responsible for User Guides and Procedures to document process

Provide support to management on any additional departmental tasks as required.
JOB REQUIREMENTS
The necessary required minimum levels of education, experience, knowledge, and skills.

• Minimum of three years of mortgage industry experience and/or Understanding of FinCen/FFEIC guidelines.
• HS Diploma, GED or Foreign Equivalent
• Competency in Microsoft Office.
• Communication (written and verbal) should be clear and concise. Ability to interact with all levels of internal and external organization.
• Review investigation narratives for detail and accuracy.
• Educate team members on deficiencies or trends identified during QA review on mortgage investigations and proposed SAR filings.
• Strong teaching and presentation skills.
• Excellent organization and time management skills which includes managing multiple assignments in a fast paced environment.
• Ability to work independently with minimal supervision.
• Display high level of confidentiality.
• Professionalism, positive and team oriented.
• ADDITIONAL PREFERRED LICENSING, CERTIFICATIONS, OR SPECIALIZED TRAINING:
  • Certified Fraud Examiner (CFE)
• No travel required.

Physical Demands (ADA): (What type of physical effort is required in the job?)
No unusual physical exertion is involved.
The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
The job requires significant physical exertion and stamina such as repeated bending, reaching, climbing, or moderate and frequent lifting.
The job requires heavy physical exertion.
ADDITIONAL INFORMATION
Adhere to all REGULATORY AND COMPLIANCE issues linked to the job and the team and understand how these issues help the bank achieve the vision of remaining an independent bank (required for all positions) Staff member is expected to consistently adhere to regulatory and compliance policies and standards linked to their job as listed. Staff member will not repeatedly act in a manner signifying intentional or willful noncompliance, nor exhibit gross negligence or a general disregard for compliance and regulatory standards. Staff member must ensure compliance with applicable federal, state and local laws and regulations. Staff member must complete all required compliance training on a timely basis. Staff member will maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Staff member must take responsibility to keep up to date with changing regulations and policies.
TALENT MANAGEMENT (managers and supervisors) Talent Management includes, but is not limited to: conduct performance appraisals, coach and develop staff, hold accountability meetings, conduct team performance meetings, perform employee observations, maintain a manager action plan, maintain a low performer action plan, ensure cross training/back-up is available, implement succession planning, ensure all staff comply with compliance requirements, successfully exercise the usual authority of a manager.
Career Path: (What is the career path that a person in this position could take? List possible positions that this job could progress towards.)

• Senior Investigator, MFIU Team Lead, Financial Crimes Compliance

STAR VALUES/CORE COMPETENCIES
The Star Values and Core Competencies are a very important part of our culture at Flagstar. Employees are expected to exhibit these behaviors while performing the duties of their jobs. Job Descriptions should be written with these qualities in mind.
Star Values
Service
The way we communicate with one another and our customers says a lot about Flagstar as a company. We choose to be engaged in our work and committed to helping each other, seeing challenges as inspirations rather than obstacles. We're compelled to do things right the first time-offering the same level of service we expect and appreciate in return.
Trust
We know our customers want substance-not lip service. We're committed to building a culture of mutual respect and transparency where our personal ethics, the caliber of our work, and the integrity we strive to uphold are without compromise.
Accountability
It's imperative that we live up to the commitments we make-to our work, to our customers, to each other. When we give our word, we commit ourselves to taking action. Standing behind what we say and do isn't an option; it's a way of life. And we'll always look for ways to improve what's in place today and plan for tomorrow.
Results
Like any business, the bottom line is important. But we'd rather measure our success by how those numbers are achieved. We can never lose sight of the part we play in our customers' and employees' daily lives, the impact we make in our communities, and the obligations we have to every one of our investors.
Core Corporate Competencies
Compliance
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
Collaboration
Understands the importance or relationships to enable effective teamwork. Modifies personal style, focuses on the needs of others, and listens effectively to ensure effective outcomes for group endeavors.
Results Focus
Takes a dynamic approach to work characterized by initiating decisions and actions. Concentrates on achieving the outcomes of a process or project while adhering to the overall strategy of the organization. Creates a culture of accountability and performance.
Work Ethic
Demonstrates attributes of ethical behaviors, high personal standards, and sound work ethic all employers should expect of employees. Consistently treats others with respect and understanding. Responds in a timely manner to all customers and co-workers.