Loan Quality Assurance Specialist 1

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The Position

Job Title

Loan Quality Assurance Specialist I

Job Description

SUMMARY

The Loan Quality Assurance Specialist - Consumer is responsible for monitoring compliance with regulations, credit policy, and internal controls for consumer and real estate loan types. The role focuses on two main areas: loan documentation quality pre- and post-reviews, First Line of Defense (FLOD) regulatory data integrity reviews and reporting. This Specialist documents findings, coordinates error resolution, and recommends improvements that strengthen loan quality and effectiveness and mitigate risk. This position offers advancement as knowledge and skills increase.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

Loan Quality Reviews (Pre-Review and Post-Review)

• Perform pre-closing review of new consumer real estate loan documentation to confirm regulatory compliance (including TRID and RESPA), bank policy compliance, and collateral perfection before providing documents to borrowers.

• Perform post-closing review of originated consumer real estate loans to confirm required documentation was properly executed, and critical loan terms are accurate in the core loan system.

• Perform post-closing reviews of consumer non-real estate loans and identify error patterns.

• Identify and enter tracking for missing documents and recurring documentation requirements into the exception tracking system.

First Line of Defense (FLOD) Regulatory Data Integrity Reviews and Reporting

• Ensure Home Mortgage Disclosure Act (HMDA) data accuracy, including origination and fallout validation and omission reviews.

• Monitor consumer loan application and processing information from the loan origination software to ensure regulatory compliance including fair lending, Military Lending Act (MLA), Equal Credit Opportunity Act (ECOA), and Fair Credit Reporting Act (FCRA).

• Review new loans to ensure compliance with Flood and Right of Rescission regulations.

• Maintain records of quality reviews with supporting documentation and enter findings to the First Line of Defense (FLOD) reporting and the bank’s risk management software.

• Assist with research and responses to regulatory discrepancies from compliance or auditors.

Documentation Accuracy and Tracking

• Validate and index imaged loan documents.

• Monitor reports and add document tracking when appropriate.
  

Lending Process Reviews (Servicing and Collateral Management)

• Assist with risk-based reviews of loan servicing processes, including ARM notices, billing statements, escrow, credit bureau processing, upload and maintenance loans, Servicemembers, collateral insurance monitoring and paid loans.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Apply acquired job skills and adhere to all First United Bank policies and procedures to complete assigned tasks.
• Communicate review results and issues to supervisor, and recommend improvements to procedures and controls.
• Monitor and respond to internal email boxes and phone calls, providing support to community bankers, Loan Production, and Loan Servicing teams.
• Assist with consumer lending process observations and individual training.
• Attend team and department meetings as requested.
• Complete all assigned education, including annual compliance courses, and pursue continual learning to update knowledge and skills.
• Always demonstrate professionalism in attire and communication using customer service skills.
• Other duties as assigned by supervisor.

EMPLOYEE SPECIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Required

• High school diploma or GED
• Good understanding of financial institution products and services
• Ability to work in fast-paced environment, handle multiple tasks and prioritize work
• Proficient computer software navigation skills including M365 systems: Word, Excel,  Teams, Planner, SharePoint
• Ability to communicate well including verbal and written communication
• Ability to organize, prioritize and execute tasks and projects independently or with little supervision
• Ability to adapt to changing technology and processes
• Ability to quickly grasp complex rules and guidelines
• Adhere to timelines and schedules
• Exceptional customer service skills
• Strong interpersonal skills and ability to work well within a team and with a wide range of people
• Willingness to accept additional responsibilities

Preferred

• Bachelor’s degree in business, law, finance, or computer information systems
• Experience in banking, lending, or operations
• Experience with loan documentation, collateral perfection, document tracking, and lending regulatory requirements such as HMDA, TRID, Flood, and MLA

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

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All Locations:

Durant-Corporate

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at [email protected] for assistance. 

First United is an Equal Opportunity Employer. To the extent required by Federal or State law, First United does not discriminate in employment opportunities or practices on the basis of race, color, religion, sex, national origin, or any other characteristic protected by law.