Compliance & Operations Officer - Retail Loan Collections

Job Description

Job Description

Position Function:

Responsible for identifying, preparing, and recommending loan accounts for non-accrual status, return to accrual status, troubled debt restructure status, and charge-off on a monthly basis. Investigates delinquency and problem loans with sub-servicer Dovenmuehle Mortgage Inc. (DMI) and reviews the department complaint log and provides background and recommendations to management for resolution. Gathers data to prepare monthly pre-foreclosure and foreclosure reports, and prepares and calculates quarterly impairment reserve analyses. Identifies process improvement opportunities in Retail Loan Collections and Loan Recovery departments including developing new reports and presentations for management use. Responsible for maintaining and updating assigned policies, guidelines, procedures, and various form templates. Ensures compliance practices are consistent throughout the department and serves as the department Business Unit Compliance Officer (BUCO).

Performs all duties and interacts with internal and external customers in a manner that is expressly aligned with the Company's Core Values of approaching all actions with a “Voyaging Spirit” and being “Positively Ohana”. Exhibits core competencies that result in consistent delivery of positive Customer Interactions, Empowerment and Ownership and demonstrates key professional and performance skills such as Active Listening, effective Oral and Written Communication, Action and Solution Oriented and Thoroughness.

Primary Accountabilities:

• Operations:
  • Identifies, prepares, recommends, and processes loan accounts for non-accrual status, return to accrual status, troubled debt restructure status, and charge-off on a monthly basis.
  • Investigates delinquency and problem loans with sub-servicer DMI.
  • Reviews the department complaint log and provides background and recommendations to management for resolution.
  • Prepares pre-foreclosure and foreclosure reports monthly.
  • Orders appraisals and prepares, calculates, and recommends impairment reserve analyses quarterly.
  • Serves as the system administrator for VQN by UNI-Source 2000 Inc., a collections platform, and maintains updates in conjunction with IT Technical Support Department.
• Compliance:
  • Ensures compliance with Sarbanes-Oxley (SOX) requirements as it relates to Retail Loan Collections.
  • Maintains desktop log of processing requests for loans accounts placed on non-accrual status, return to accrual status, troubled debt restructuring status, foreclosure status, and charge-offs.
  • Prepares and gathers all monthly and quarterly reports for Retail Loan Collections and Loan Recovery departments.
  • Assists in the coordination and oversight of audit information requests, and with researching and identifying resolutions related to audit findings.
  • Maintains and updates assigned policies, guidelines, procedures, and various form templates.
  • Reviews published regulatory and compliance announcements and updates policies, guidelines, and procedures.
• Business Unit Compliance Officer (BUCO)
  • Responsible for business unit compliance oversight as the “Business Unit Compliance Officer” (BUCO) with dotted line reporting to the Compliance Division Manager. The BUCO is responsible for engaging in activities that contribute to the day-to-day compliance oversight of the business unit and any related third-party vendor relationships in alignment with the Compliance Management System Policy, Bank Secrecy Act Policy, and BUCO Program. The BUCO demonstrates and applies business acumen to promote a culture of compliance and the identification, escalation, and timely mitigation of compliance risks. This role exercises judgment and influence, and may constructively challenge business unit management to support compliance objectives, balancing business strategy with appropriate controls.
• The BUCO is accountable for implementing the Compliance Management System Policy and Bank Secrecy Act Policy, including but not limited to the following activities:
  • Facilitating the Compliance Risk Assessment process by identifying, assessing, and managing regulatory compliance risks within the business unit.
  • Knowing and understanding all state and federal compliance laws, rules, and regulations (“laws and regulations”) applicable to the business unit, and how such laws and regulations impact or affect the business unit.
  • Keeping abreast of changes to the laws and regulations, as tracked and disseminated on the Regulatory Tracking Log, and implanting regulatory change within the business unit.
  • Attending all management meetings to keep appraised of developments within the business unit that may impact the compliance function.
  • Actively participating in and advising on key business decisions within the business unit, including new or changes to existing products, services, processes, projects, and vendors.
  • Ensuring that the business unit has sufficient resources to adequately manage compliance risks.
  • Reviewing, drafting, and/or updating business unit policies, procedures, processes, guidelines, and controls to ensure that regulatory requirements are sufficiently addressed and that day-to-day activities operate in a compliant manner.
  • Identifying compliance training needs, providing subject matter expertise to support the development of training curriculum, and conducting or coordinating compliance training for the business unit, in addition to and in support of the Compliance Training Program.
  • Conducting and/or facilitating transactional and non-transactional monitoring and testing to assess the business unit’s compliance with all applicable laws and regulations, in support of the Compliance Monitoring Program.
  • Escalating compliance concerns to the Corporate Compliance Department for inclusion on the Issues Tracking Log, and ensuring that any corrective action is taken as necessary and appropriate to address compliance concerns.
  • Supporting the Customer Complaint Program by ensuring that the business unit employees understand and fulfill their responsibilities for reporting and addressing customer complaints.
  • Facilitating regulatory audits and examinations.
  • Completing other compliance related projects and tasks as requested to support the Bank’s Compliance Management System Policy and Bank Secrecy Act Policy.

Minimum Qualifications:

Education:

• High School Diploma or GED equivalency required.
• Bachelor’s Degree from an accredited 4-year university, preferably in Finance, Accounting, or a related field preferred.

Experience:

• 6+ years of experience in Compliance, collections, recovery or special assets lending or equivalent experience required. (Bachelor's degree in relevant field may substitute for 2 years of experience)

Physical Requirements & Working Conditions:

• Must be able to perform light physical work and to move or lift items including but not limited to boxes, files and papers up to 20 pounds unless otherwise as indicated.
• Must be able to operate and proficiently use standard office equipment, including phone, copier, personal computer and/or other work related mechanical or electronic devices and applications.
• Must be able to clearly communicate verbally and in writing with all internal and external customers. Must also be able to hear sufficiently to engage in daily discussions and interactions.
• Must be able to read and understand bank-related documents.
• Must be able to work in a conventional office setting, involving sitting at a desk or workstation for long periods of time. Must also be able to adapt to different work environments as needed to perform the job.

We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.