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Mortgage Origination Compliance Quality Control Professional

Company: Morgan Stanley
Location: Dallas
Posted on: June 12, 2021

Job Description:

Company Profile

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Position Description

Morgan Stanley's Bank Compliance team seeks a Residential Mortgage Origination Compliance Quality Control Professional to assist in the development, execution and maintenance of a Compliance Quality Control Plan that meets Fannie Mae's ("FNMA") compliance quality control requirements and held for investment/sale requirements.

Primary Responsibilities

  • Assist in the enhancement of the Compliance Quality Control and Call Monitoring Plans ;
  • Assist in the enhancement of the Compliance Quality Control and Call Monitoring review scenarios and test scripts for residential mortgage-related alphabet regulations (e.g. Regulations B, P, U, V, X, Z, FDPA, SAFE Act, Fair Housing Act);
  • Perform monthly Compliance QC and Call Monitoring reviews based on a pre-selected sample of loan files including both originated and non-originated loan files;
  • Assist in the enhancement of the monthly and quarterly reports reflecting the results and any trending analysis of the Compliance QC and Call Monitoring reviews;
  • Work with business owners to effectuate Compliance Quality Control action plans and offer guidance to business owners on action plan progress to closure;
  • Draft compliance-related User Acceptance Test (UAT) Scripts for the residential mortgage loan origination system;
  • Perform bank regulation UAT;
  • Assist the Head of Residential Mortgage Compliance in project activities including document preparation based on compliance timing requirements, signature requirements, other federal and state-specific rules; and
  • Assist the Residential Mortgage Compliance Origination Lead in providing guidance in the insertion of compliance rules in 1st line of defense training modules, job aids, procedures and loan origination system control request changes.

Skills Required

  • Bachelor's Degree or 5-10 years of origination mortgage experience with knowledge of compliance and QA functions
  • Substantive knowledge of FNMAs origination compliance quality control requirements
  • Knowledge of consumer protection alphabet regulatory requirements (e.g. Regs B, C, P, U, V, X, Z, Flood Disaster Protection, SCRA, Fair Housing, and SAFE)
  • Knowledge of state regulatory requirements
  • Exceptional ability to explain complex topics and deliver prompt, clear answers that colleagues and clients can act upon with confidence
  • Experience using residential mortgage lending loan origination systems' data to review for data accuracy and integrity
  • Skilled in building test scenarios and scripts based using loan origination system functions as the basis for UAT.
  • Strong client-relations skills and ability to partner with clients to develop practical solutions that meet business needs while remaining compliant with applicable laws within the Banks' risk tolerance
  • Able to handle confidential information professionally and with appropriate discretion
  • Outstanding written and verbal communication skills; excellent negotiating and drafting skills

Skills Desired

  • CRCM or other Compliance certification desired
  • Exceptional reasoning and analytical skills
  • Excellent organizational skills to be able to manage a large workload
  • Strong team-orientation, work ethic, and drive
  • Project management skills
  • Ability to effectively present information in one-on-one and group situations to customers, clients, and other employees or the organization

Keywords: Morgan Stanley, Dallas , Mortgage Origination Compliance Quality Control Professional, Other , Dallas, Texas

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