Commercial Loan Compliance Specialist

Job Details

Job Location

Hamburg - Lexington, KY

Position Type

Full Time

Education Level

4 Year Degree

Salary Range

$28.47 - $31.63 Hourly

Job Shift

Job Category

Admin - Clerical

Description

Title : Commercial Loan Compliance Specialist

Department : Finance and Risk Management

Reports to : Compliance and Risk Manager

FLSA : Non-Exempt

Job Grade : 10

Job Purpose : This position provides services to members and the credit union by ensuring, supporting, and testing compliance with internal procedures, and loan-related regulatory requirements primarily around commercial lending to prevent unsafe, unethical, illegal, or improper conduct on all lending products and services.

Additionally, this position serves as an overall loan compliance resource for other departments to assist with ensuring the credit union maintains compliance with applicable lending-related laws and regulations.

Essential Job Results :

JOB SPECIFIC RESULTS

Procedures : Assist in the facilitation of procedures related to loan operations by communicating commercial loan-related, regulatory changes.

Emphasis will be on commercial lending regulations with knowledge of other lending regulations.

Risk Analysis : Assist the Compliance and Risk Manager in development of an annual Compliance Risk Assessment of commercial lending-related regulations and the corresponding risk-based, Compliance Review Schedule for commercial loan areas targeting regulations, products and services, processes, and branches;

participation in updates as new commercial risks emerge or identified risks levels fluctuate; collaborate with management on developing the frequency of internal commercial loan compliance reviews / transactional testing.

Compliance Management System (CMS) Reviews : Identify and chart commercial lending transaction processes; determine adequacy of commercial loan-related procedures (existing and proposed) in relation to those identified processes;

assess adequacy of commercial-related employee training; and conclude upon employee accountability and management oversight with support from transactional testing of commercial loans (see below for transactional testing expectations).

Transactional Reviews (expectations) : Conducts risk-based commercial loan reviews with an appropriate level of transactional testing / sampling;

determine root causes of identified issues with classification of those findings between errors and violations of laws and regulations with management responses and corrective actions collected and reported in a formal memo and Exit Meeting.

Tracking of all issues will be maintained for analysis and accountability. Follow-up testing on corrective action implementation to be performed with goal of assessing timeliness, effectiveness, adequacy, and sustainability of implemented corrective actions with reporting.

Transactional testing will include consideration of the Quality Assurance process, as needed.

• Dual Transactional Reviews : Conducts dual reviews of consumer loan transactional reviews performed by the Consumer Loan Compliance Specialist to ensure overall adequacy and accuracy of sampling and findings followed by consultation with the Compliance and Risk Manager
• New Loan Products : Participate in the review of all new loan-product offerings to ensure regulatory compliance and actively work with the Loan Department and Marketing Department on Credit Union promotions / advertising of new products;
• participate in the oversight of new products (from initiation of the product request, due diligence, thru final approval);

and follow-up on new products after implementation.

• Commercial Loan Projects : Assist with any commercial lending projects; conduct research and collaborate, as needed
• Privacy : Maintain satisfactory knowledge regarding the Graham Leach Bliley Act for Privacy and be a resource for lending staff and assist the Information Security Officer, as needed, on any potential investigations of sensitive information violations within loans.
• Record Retention : Assist with the development of record retention procedures for commercial loan compliance with all Federal and state regulations / requirements as well as internal retention guidelines (acts as a resource to Loan Operations).

He / she will test record-retention compliance as part of transactional testing.

• Training : Work with the Compliance and Risk Manager, Learning and Development, Human Resources, and other management to develop a timely and effective regulatory compliance training program for new and existing commercial lending employees, managers, and Board while also acting as a resource for all commercial loan-related Subject Matter Experts.
• Management Meetings : Attend and / or conduct commercial lending-related meetings, as needed; maintain meetings of all meetings conducted.
• Compliance Knowledge : Maintain knowledge of current policies, procedures, and regulations while remaining current on documentation and regulatory requirements.
• Complaints : Assist the Compliance and Risk Manager in the investigation of commercial loan complaints and perform follow-up on those complaints to determine the timeliness, effectiveness, and adequacy of corrective actions, including transactional testing if needed.
• Vendor Management : Assist the Compliance and Risk Manager in the Vendor Management Program by maintaining and sharing any vendor-related information discovered during reviews and discussions with loan personnel.
• Internal / External Audits or Reviews : Assist in gathering requested commercial loan-related documents and transactions;
• review completed, commercial loan-related audit reports compiled by internal or external auditors while tracking all findings for analysis of trends and accountability;
• assist in the implementation of corrective action, as needed, to maintain compliance with laws, regulations, or internal policy;

and perform follow-up on corrective actions. Written findings will be reported to the Compliance and Risk Manager, and Internal Audit as needed.

External reviews include those performed by Regulatory Agencies.

Other : Perform other lending-related duties, as assigned.

GENERAL STAFF RESULTS

• Maintains member and employee confidence and protects operations by keeping information confidential and sharing on a business-related as-needed basis only.
• Engages in problem resolution by clarifying the member's and / or employee's complaint; determining the cause of the problem;
• selecting and explaining the best solution to solve the problem; expediting correction or adjustment; following up to ensure resolution;

and keeping the supervisor informed of problems and solutions.

• Complies with UKFCU policies and procedures by enforcing and adhering to internal UKFCU procedures and board-established policies.
• Complies with federal, state and local regulations and legal requirements by enforcing and adhering to requirements.
• Maintains professional and technical knowledge by maintaining an awareness of competitors' rates and terms, industry trends and technology;
• attending staff meetings; identifying opportunities to attend seminars that enhance skills and maintain knowledge of new products that could assist in improving operational effectiveness;

reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; and participating in professional societies.

Contributes to a team effort by accomplishing corporate and individual goals and other related results as needed. Ensures changes in processes are updated in work instructions and followed.

KEY COMPETENCIES

Professionalism in all communications.

Commitment to the Credit Union movement and philosophy.

Integrity in all actions.

Ability to identify the needs of the member and provide services to meet those needs.

Accountability to established metrics and performance goals.

Demonstrate the following key leadership attributes : Collaboration and Teamwork, Professional Responsibility, Courage and Respect, Development of the Team, and Planning for the Future.

Qualifications

MINIMUM REQUIREMENTS

• Five to seven years of similar or related experience in monitoring
• 2-year Associates Degree in Business Administration, Accounting, Finance, or related field, or equivalent experience.
• CRCM or comparable certification preferred but not required.
• Demonstrate a high level of knowledge of commercial lending practices.
• Ability to organize and prioritize upcoming job responsibilities between CMS reviews, transactional testing, reporting, and committee attendance while exhibiting the capacity to self-start as issues or opportunities arise and capability to complete reviews in a timely and efficient manner.
• Ability to communicate with others one-on-one, fielding questions and responding to complaints.
• Ability to work with other employees.
• Strong attention to detail required.
• Ability to define problems, collect data, establish facts and draw conclusions while dealing with a variety of abstract and concrete variables.
• Ability to write reports, correspondence and procedures.
• Ability to work independently.
• Ability to be self-motivated.
• Ability to work with strict deadlines and under pressure.

PHYSICAL DEMANDS :

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit and stand;

use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk and stand.

The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and / or move up to 25 pounds.

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

WORK ENVIRONMENT :

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee will be required to work indoors in a climate controlled office setting.

The noise level in the work environment is usually moderate.

MENTAL DEMANDS :

The mental characteristics necessary to competently perform this job include the occasional need to be persuasive, use good judgment;

and, the continuous need to use auditory perception, memory, and reasoning ability.

The intent of this job description is to provide a representative summary of the types of results that will be required of the positions given this title, and shall not be construed as a declaration of the specific responsibilities of any particular position.

Employees may be requested to perform job-related tasks other than those specifically outlined in this description.

UKFCU is an equal employment opportunity employer and is committed to providing employment opportunities to minorities, females, veterans, and disabled individuals.

UKFCU invites you to review the current "EEO Is the Law" poster as part of the application process. A link to the most current posters is here .

Please also see the 2015 Supplemental EEO Poster here .

Applications are only accepted through our online application system. However, if you need assistance with any part of the application process or are unable to apply online because of a medical condition or disability and need an accommodation, please contact recruiting@ukfcu.

org to let us know the nature of your request. Please note, UKFCU accepts only employment applications that are complete and received by the Office of Human Resources by the specified deadline for each opening.

The Credit Union leadership recognizes that to achieve its vision and mission, it must embed the values of Diversity, Equity, and Inclusion (DEI) in all aspects of the Credit Union's work.

Together, the staff, membership and communities are diverse and as such, the Credit Union must reflect and respect that diversity.

The Credit Union's leadership recognizes and believes when an organization's leadership and staff are representative of the people that it serves, it can better meet its vision and mission.

Further, the Credit Union leadership believes that it benefits when diverse perspectives are represented, respected and included among the discourse and decision-making that takes place at the Credit Union, and with and among its staff, membership and communities.

This position allows for an optional hybrid work arrangement which includes a combination of both in-office and remote work arrangements.

Maximum of two days remote, three days in-office). To be eligible for the program, employees must complete a minimum of 90 days of continuous, regular employment, be in good standing, and submit a formal hybrid work application prior to being eligible for hybrid work, pending supervisor approval.

Work schedules will be established by the employee's supervisor according to business needs. Working locations and schedules may be altered at management discretion.