Vp Quality Assurance And Control

The deadline to apply for this opportunity is April 8, 2024.

Job Description: The VP Quality Assurance & Control is an integral member of the credit union's leadership team. This position oversees Consumer, Real Estate Lending, Servicing & Loss Mitigation Quality Assurance and Control functions within the Credit Union. The VP Quality Assurance & Control is member experience-focused, stays abreast of industry trends and opportunities and leverages knowledge to improve existing and recommend new policies, procedures, products and processes to ensure the Credit Union maintains its position as a market leader.

Essential Functions & Responsibilities:

• Develops and implements Quality Assurance & control strategies to manage safety and soundness of the portfolio while maximizing member retention and financial success. Identifies goals and metrics that align with the organization's lending, servicing and loss mitigation strategy and risk tolerance; monitors and analyzes quality performance and trends; and proactively adjusts to trends, technological advancements, regulatory requirements, and economic changes, as appropriate.
• Maintains a deep understanding of loan secondary markets (purchase, sales, service) for all GSEs. Conducts QC Reviews to mitigate risk, reduce and eliminate defects in compliance with mortgage loan sale requirements to prevent from repurchased loans and in compliance with our seller/servicer agreement. Guides and directs proper application of procedures and policies by staff to achieve quality, maintain confidentiality and security controls. Maintains quality, control and compliance focus.
• Responsible for the regular update and Review of QA Plan & Error Rate Thresholds, taking into consideration applicable GSE, loan correspondents, specific program, regulatory state, and/or federal requirements to enable ORNL to regularly evaluate and measure progress in meeting its loan quality standards.
• Ensures loan, servicing and loss mitigation procedures and programs adhere to company guidelines, regulatory requirements and/or policies. Works closely with Leadership to identify and/or mitigate risks and dependencies, including, but not limited to, the review of applicable test results to evaluate product and program functionality for conformance with regulatory requirements and/or policies. Identifies and makes recommendations to Chief Strategy & Growth Officer regarding process improvements, quality service and increased efficiencies. Conducts Quality Control Testing, loan and program reviews to allow ORNL FCU to correct program, processes and/or information provided to members; helps to mitigate errors that may be discovered during an examination or compliance audit of the files; and provides data upon which compliance solutions can be based. Ensures Quality Assurance & Control staff properly notate findings to ensure all communication and actions are documented for leadership and audit reviews. Prepares monthly quality control reports for all business units and reviews with senior leadership. Monitors for trends as action planning (including training and/or procedure updates) will be required for repetitive errors and concerns must be communicated to the SVP Data Intelligence and Chief Strategy & Growth Officer. Periodically discusses and provides input from a quality and Control standpoint with regards to exceptional or extraordinary transactions outside of established policies and procedures. If appropriate, approves the decision to make an exception and reports it to the SVP Data Intelligence and Chief Strategy & Growth Officer.
• Acts as one of the points of contact for internal audit reviews and contracted external monthly reviews, and Audit Planning and Support for third-party, internal and external audits, to include, but not limited to (NCUA, State, Federal, HUD, VA, LAPP, CFPB, Hurd Harter, etc.) Conducts planning, preparation and implementation, including, but not limited to, quality control initiatives, including internal audit functions and training, related to consumer and mortgage lending, servicing & loss mitigation in adherence with all State, Federal, NCUA & CFPB requirements, Regulatory and QA/QC to eliminate risk.
• Responsible for the monitoring and management of all risks identified in the ERM portal. Works with business lines as needed for testing of system changes to mitigate quality impacts. Reviews reports to identify areas for process change, risks and collaborates with leadership and training to offer solutions.
• Provides the staff with the appropriate level of guidance, coaching and training as needed while meeting quality and Control objectives. Establishes collaborative partnerships across Consumer, Mortgage Lending, Servicing & Loss Mitigation, as well as other lines of business. Collaborates with other departments, such as Internal Audit, Compliance, Risk Management, and Fraud, to develop and implement policies and procedures that mitigate risk.
• Responsible for staffing of the Mortgage Quality Assurance and Control department. Ensures staff assigned to the department are properly trained. Monitors and evaluates employee performance. Counsels employees to enhance job performance and resolve work related problems. Initiates or reviews and approves written records documenting personnel actions.
• Develops, recommends and operates within budget for the department. Monitors expense for cost efficient operation for the department.
• Reviews and/or ensures proper completion, forwarding and/or retention of records. Works directly with leadership and partners across the Credit Union to resolve issues. Monitors trends and provides updates to the SVP Data Intelligence and Chief Strategy & Growth Officer on any emerging compliance, CFPB and/or Regulatory trends/issues/opportunities. Ensures all regulatory reporting is completed on or before the required deadlines. This includes, but is not limited to Audits, Examinations, Annual HMDA reporting (responsible for HMDA data reconciliation and reporting), as well as FHLMC and FNMA reports. Oversees third-party vendor relationships that provide support within QA/QC.
• Performs other job-related duties as assigned.

Experience: Five or more years of experience in Quality Assurance and Control and/or lending in a financial institution, with at least three years in a Quality Assurance and Control leadership role, required. Mortgage Bankers Association Compliance Professional Designation is a plus.

Education: Bachelor's degree in a business related field, or an equivalent combination of experience and education, required. Must possess knowledge of Government Loan QA/QC: FHA and VA approved mortgagees to include the origination and/or servicing of insured mortgages as a condition of maintaining an FHA designation, in additional to specific VA and LAPP standards for approval, as HUD and VA require certain parameters for the mortgage Quality Control Plan (QC Plan).

OtherSkills Required:

• Excellent leadership, communication, and interpersonal skills, including the ability to clearly and simply present complex collections strategies and concepts to internal collections staff, cross-functional executive teams, and the CEO and Board of Directors required.
• Ability to collaborate with leaders and staff at multiple locations within the Credit Union’s geographic footprint, including staff working remotely.
• Proven ability to develop and implement effective collection strategies required.
• Must be a strong team player with a high level of professionalism and initiative.
• Must be detail-oriented with strong analytical and problem-solving abilities.
• Must be familiar with Servicing and Loss Mitigation processes, escrow management, documents and accompanying disclosures, loss mitigation application requirements, mandated timelines, as well as standard consumer and mortgage products, including, but not limited to, Credit Card, Auto, Marine, Personal, Conforming and Jumbo fixed and ARM mortgages, VA, FHA, and USDA loans, Home Equity and HELOC loans, Construction loans, and Non-Owner Occupied and Condo lending.
• Must be knowledgeable about, and keep abreast of, all relevant consumer, mortgage, servicing and loss mitigation laws and regulations.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)