April 4, 2025 | BY DIRECTION HOME LOAN

COMPLIANCE AND LICENSING MANAGER

JOB TITLE: COMPLIANCE AND LICENSING MANAGER

REPORTS TO:VP of Operations

EXEMPT/NON-EXEMPT: Exempt

 

 

SUMMARY

The Compliance and Licensing Manager is primarily responsible for managing Compliance and licensing efforts as they relate to complex federal and state regulatory requirements, including, but not limited to Fair Lending, privacy, and consumer protection laws and regulations as applicable to mortgage banking operations by performing the following duties.

 

 

 

ESSENTIAL DUTIES AND RESPONSIBILITIES

 

Core duties and responsibilities include the following:

 

  • Develops, initiates, maintains, and revises policies and procedures for the general operation of the federal and state compliance program and its related activities.
  • Manages compliance policies and procedures to ensure all compliance requirements are met by working with department leaders; investigates and mitigates compliance and privacy issues to resolution; and consults with the General Counsel’s office to resolve difficult legal compliance and/or privacy issues when necessary.
  • Responsible for the general operation of the compliance and privacy programs and its related activities to prevent illegal, unethical, or improper conduct to include managing the day-to-day operation of the programs.
  • Identifies areas of compliance and privacy vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues and provides general guidance on how to avoid or manage similar situations in the future.
  • Acts as an independent review and evaluation body to ensure that compliance and privacy issues/concerns are being appropriately evaluated, investigated, and resolved.
  • Responds to alleged violations of rules, regulations, policies, and procedures pertaining to compliance and privacy by recommending the initiation of investigative procedures and develops and oversees a system for uniform handling of such violations.
  • Monitors and reports result of the compliance of the company and provides guidance for the senior management team on matters relating to compliance and privacy.
  • Works with the Human Resources to institute and maintain an effective compliance communication program and to develop an effective compliance training program, including introductory training for new employees as well as ongoing training for all.
  • Stays abreast of compliance and privacy laws and requirements by attending seminars, subscribing to pertinent publications, working with insurance carriers, communicating with regulatory agencies.
  • Ensures all license and continuing education requirements are kept current.
  • Creates Compliance Manual for company and communicates changes and follows through to ensure that updates are implemented by random audit processes.
  • Educates, trains, and communicates with staff to ensure compliance with all federal and state regulations.
  • Coordinates with all department heads regarding compliance issues and how they relate to the functions of their respective departments.
  • Must maintain reliable attendance.
  • Manage and maintain the organization’s NMLS records, ensuring all licensing requirements are up to date.
  • Review and interpret state and federal regulations related to mortgage lending and licensing, as applicable.
  • Develop and implement licensing strategies to ensure compliance and efficiency.
  • Make realtime/same day updates to the loan origination system and develop safeguards around this process.
  • Escalate issues to Executive Management accordingly.
  • Prepare and submit NMLS license applications and renewals accurately and on time.
  • Monitor the status of license applications and troubleshoot any issues that may arise.
  • Maintain records of all license-related documentation and correspondence.
  • May perform other duties as assigned.

 

 

 

EDUCATION AND/OR EXPERIENCE

  • Master’s Degree or equivalent
  • 5 to 10 years related consumer compliance experience, with auditing or monitoring/review experience in the mortgage
  • 2-3 years in a licensing capacity
  • 1-2 years Encompass admin experience
  • Knowledge of mortgage banking regulations applicable to branches and satellite operations with previous experience in operations and/or a federally regulated institution is

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