Compliance Specialist

Compliance Specialist

Department: Legal / Compliance / Licensing / OC

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: SVP - Compliance

Compensation: $80,000 - $90,000 / year

Description

This position is responsible for performing quality control ("QC") reviews of mortgage loan files to evaluate accuracy, completeness, investor eligibility, regulatory compliance, and adherence to Verus policies and procedures. The Compliance Specialist reviews loan documentation, exceptions or defects identified by the QC vendor, documents findings, and supports timely remediation and reporting. All activities are completed in compliance with Verus, investor, agency, and regulatory requirements.

Responsibilities and Duties:

• Manages the mortgage quality control program, including pre-funding, post-closing, discretionary, targeted, and vendor-performed loan file reviews.
• Provides oversight of QC review workflows to ensure reviews are completed accurately, consistently, and within established service level expectations.
• Reviews and validates quality control findings, defect classifications, rebuttals, corrective actions, and remediation documentation.
• Coordinates timely responses to third-party QC vendor findings and ensures required supporting documentation is obtained and reviewed.
• Partners with internal stakeholders to resolve findings, strengthen controls, and address recurring loan quality or documentation issues.
• Develops, maintains, and monitors QC reporting, defect trends, root cause analysis, corrective action plans, and management reporting.
• Identifies process gaps, emerging risks, training needs, and control enhancements based on QC review results and trend analysis.
• Maintains awareness of mortgage regulations, investor requirements, agency guidance, product guidelines, and internal policies applicable to quality control.
• Supports updates to QC procedures, review checklists, reporting practices, and escalation standards to promote consistency and compliance.
• Develops and maintains an understanding of mortgage regulations, investor requirements, product guidelines, and internal policies applicable to assigned reviews.
• Maintains confidentiality of borrower, broker, and company information in accordance with policy and applicable requirements.
• Broader work or accountabilities may be assigned as needed.

Education and Experience:

• Bachelor's Degree in business-related field or equivalent. CRCM or CMCP certification(s) preferred.
• 5+ years of mortgage audit, compliance, and Fannie Mae/Freddie Mac quality control experience.
• Advanced knowledge of mortgage loan documentation, investor guidelines, regulatory requirements, and quality control practices.
• Knowledge and experience using mortgage origination systems, document imaging platforms, and quality control tools.
• Proficient in Microsoft Office Suite, particularly Excel and PowerPoint.
• Ability to review complex loan files, identify discrepancies, and document findings in a clear and consistent manner.
• Strong attention to detail, analytical thinking, follow-through, and ability to manage deadlines in a production-based environment.
• Strong work ethic, sound judgment, and commitment to quality, compliance, and continuous improvement.

Key Competencies:

• Quality Control Program Management: Oversees pre-funding, post-closing, discretionary, targeted, and vendor-performed loan file reviews to ensure accuracy and consistency
• Regulatory & Investor Guideline Knowledge: Applies advanced knowledge of mortgage regulations, investor requirements, and agency guidance to evaluate loan file compliance
• Defect & Root Cause Analysis: Reviews QC findings, defect classifications, and trends to identify root causes and drive corrective action
• Analytical & Detail-Oriented Review: Identifies discrepancies in complex loan files and documents findings clearly and consistently
• Reporting & Trend Monitoring: Develops and maintains QC reporting, defect trend analysis, and management reporting to support informed decision-making
• Process Improvement: Identifies process gaps, training needs, and control enhancements based on QC results to strengthen the quality control function

How This Role Demonstrates Our Values:

• Integrity: Applies rigorous, objective standards to loan file reviews and maintains strict confidentiality of borrower, broker, and company information
• Collaboration: Partners with internal stakeholders and third-party QC vendors to resolve findings and strengthen controls
• Excellence: Delivers accurate, timely QC reviews and reporting that support strong compliance and risk management outcomes
• Critical Curiosity: Stays current on evolving mortgage regulations and investor guidelines while identifying opportunities to improve QC processes and controls

Benefits

• Competitive compensation package, including base salary and performance-based bonus opportunities
• 401(k) plan with 100% company match up to 4%
• Comprehensive health coverage: medical, dental, vision, HSA, and FSA options
• Generous paid time off: 20 days PTO, company holidays, and sick time
• Paid parental leave
• Company-paid life insurance and disability coverage
• Employee Assistance Program (EAP): mental health, financial, and wellness support
• Professional development: tuition reimbursement and growth opportunities
• Commuter and transit benefits

Successful applicants will exemplify strong ethics, integrity, respect for others, accountability for decisions and actions, and good citizenship.

Maintaining a reliable, uninterrupted high speed internet connection is a requirement of hybrid or remote positions.

All job duties and responsibilities must be performed within the guidelines of the Verus Residential Mortgage Employee Handbook and established company policies and procedures. It is the responsibility of each employee to maintain confidentiality of the company, its clients and to follow applicable laws and regulations in the performance of duties.

Verus Mortgage Capital is an equal opportunity employer. All qualified applicants are welcomed to apply and will receive consideration for employment without unlawful discrimination because of a person's race, religious creed, color, national origin, citizenship status, ancestry, marital status, sex, age, or sexual orientation, or because of a person's disability or medical condition.