Compliance Specialist

Compliance Specialist

Department: Legal / Compliance / Licensing / OC

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: SVP - Compliance

Compensation: $85,000 - $100,000 / year

Description

Verus Mortgage Capital is seeking a Compliance Specialist to join our team to work directly with our Legal and Compliance Department. This role is responsible for ensuring the Company maintains full compliance with federal and state licensing requirements, including adherence to the SAFE Act and ongoing NMLS maintenance. The Specialist will also coordinate and manage state and federal regulatory examinations, supporting the Company's commitment to strong regulatory governance and operational integrity.


Responsibilities and Duties:

• Prepare, submit, and track licensing applications, renewals, reports, and regulatory filings across federal, state, and local jurisdictions with a high degree of accuracy.
• Demonstrate strong working knowledge of the SAFE Act, NMLS requirements, and applicable state licensing requirements.
• Ensure all corporate, branch, and individual licenses remain active, accurate, and in good standing avoiding any lapses or deficiencies.
• Monitor ongoing licensing requirements, including renewals, attestations, and reporting deadlines, ensuring timely and complete submissions.
• Partner with Sales, Operations, HR and Legal to ensure timely and compliant licensing for new hires, role changes, and terminations.
• Provide clear guidance to internal stakeholders on licensing requirements, timelines, and expectations.
• Prepare and submit required regulatory reports, including Mortgage Call Reports (MCR), Secretary of State reports, and annual reports for states (e.g., CA, GA, NC, SC, and WA), ensuring accuracy and timeliness using tools such as Power BI and Excel.
• Track and analyze regulatory developments and licensing changes; support implementation of new or revised requirements.
• Coordinate and manage regulatory examinations, audits, and inquiries by gathering and organizing requested documentation, collaborating with internal departments to prepare responses, communicating directly with regulators when appropriate, tracking deliverables and deadlines, and managing remediation efforts and corrective action plans for any findings.
• Maintain examination readiness by ensuring documentation, policies, and records are organized and up to date.
• Manage multiple concurrent examinations, licensing initiatives, and reporting obligations effectively.
• Administer the corporate vendor management program in compliance with federal, state and agency requirements. Maintain an inventory of corporate vendors, complete document gathering, due diligence reviews, and risk assessments. Assist business units in meeting contract renewal/termination deadlines. Provide quarterly reports on vendor status and performance.
• Support compliance governance activities, including recordkeeping and documentation for quarterly compliance committee and executive meetings.
• Identify opportunities to streamline licensing workflows, improve tracking, or reduce manual effort.
• Maintain strict confidentiality and exercise sound judgment when handling sensitive information.

Education and Experience:

• 5+ years of experience in a Legal or Compliance role in a retail or wholesale lending channel for a non-bank mortgage lender.
• 2+ years of experience in a Legal or Compliance role with a mortgage lender.
• Advanced knowledge and understanding of laws relevant to non-bank federal and state mortgage origination and servicing, including ECOA, FCRA, HMDA, RESPA, TILA, SAFE, as well as FNMA and FHLMC requirements.
• Bachelor's Degree in business-related field or equivalent. CRCM or CMCP certification(s) preferred
• Strong verbal and written communication skills, with the ability to clearly convey regulatory requirements.
• Proficient in Microsoft Office Suite, particularly Excel and PowerPoint, with an ability to become proficient with lender programs and software (i.e., loan origination systems, Docutech, etc.)
• Ability to collaborate effectively with cross-functional teams, including executive leadership, regulators, and external partners.
• Exceptional organizational skills and attention to detail.
• Manage multiple priorities, projects, and deadlines with a strong sense of urgency and responsiveness.
• Advanced problem-solving skills with the ability to define problems, analyze the variables and propose solutions.

Key Competencies:

• Regulatory Expertise: Demonstrates deep knowledge of mortgage compliance, licensing, and regulatory requirements
• Attention to Detail: Ensures accuracy across filings, reporting, and documentation
• Organizational Effectiveness: Manages multiple priorities, deadlines, and regulatory obligations
• Cross-Functional Collaboration: Works effectively with internal teams, regulators, and external partners
• Problem Solving: Analyzes regulatory requirements and develops practical, compliant solutions

How This Role Demonstrates Our Values:

• Integrity: Ensures full compliance with regulatory requirements and maintains ethical standards
• Collaboration: Partners across departments to support compliant business operations
• Excellence: Delivers accurate, timely filings and maintains strong regulatory standing
• Critical Curiosity: Stays informed on evolving regulations and proactively improves compliance processes

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 if hybrid or on-site

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.