Mortgage Audit & Risk Assessment Manager - Mortgage Quality & Product Risk DepartmentOur CompanyAt FirstBank, we strive to be trusted advisor to our clients and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client's expectations.A Brief OverviewThe Mortgage Unit Audit & Risk Assessment Manager is responsible of oversight of all business audits and reviews. Serves as liaison with regulators, internal and external auditors. Investigates and answers audit findings and evaluates approach on exceptions noted within the mortgage business. Manager in charge of evaluating exceptions to identify trends which need process improvement, training, or additional controls. Is responsible of reporting and guidance to the business unit's managers about the quality of loan applications, closed loans and servicing functions. Maintain track of any monitoring review as well as all corrective actions to avoid recurrences. Manages regulatory consults and review draft od templates for communications developed by the Business Units.Accountable for adhering to the Bank's BSA, AML and Office of Foreign Asset Control (OFCA) applicable policies. Employee must follow specific unit procedures developed in compliance with the policies. Employee is also responsible for reporting any suspicious activity and/or transactions in accordance with the Bank's processes and comply with any mandatory BSA, AML and OFAC training assigned.What You'll Need to SucceedManages and serves as liaison with compliance and other unit managers in the implementation of regulatory, investor or internal controls changes.Evaluates the impact of changes in the operation and ensure risk is mitigated by coordinating training and testing as needed.Oversees the quality and audit management and investor requests; including but not limited to review of applications and originated loans to ensure regulatory and investor requirements compliance, management of audit requests for the mortgage business and review and respond to investors requests timely to avoid or mitigate repurchases.Escalates to unit managers and/or senior management exceptions that may have a regulatory, monetary, or reputational impact.Serves as liaison with all regulatory regulators such as the CFPB and FDICIdentifies control deficiencies and/or process improvements and work in a cross functional team atmosphere to determine best practices which mitigate any risk or audit concerns by documenting and implementing revised procedures and through performing monitoring activities to detect exceptions that could potentially expose the business to violations.Works with unit manager in the development and execution of business risk assessmentProvides feedback on exceptions noted during audits and works with the monitoring unit to ensure retesting is performed on recurrent and/or high-risk exceptionsProvides legal opinions as to the impact of regulations or legal issues within the businessReports, tracks, and ensures closing of quality exceptions through formal documentation of processes and corrective actions implemented.Participated in special projects and implementation of new products, services and/or initiatives that may have a regulatory, monetary, or reputational impact.CompetenciesCustomer FocusAnticipates and provides service excellence to both internal and external customersBuilding Strong relationsEstablishes, sustains and fosters both internal and professional contacts to build, enhance, and connect to FirstBank servicesCommunicationDelivers clear, effective communication and takes responsibility for understanding others.Business AcumenUnderstands how the organization works, including, current and future policies, practices and trendsProblem Analysis & SolutionIdentifies problems and conducts appropriate analyses involving others to searches for best solutionsOwnershipTakes initiative and assumes personal accountability for goals, outcomes and deadlinesVision & ValuesThe employee understands organization's vision and upholds the organizations values in everyday words and actions.At higher levels the employee takes a long-term view and share with others the vision and the organization path ahead.Collaboration & TeamworkProvides direction and leadership to help teams achieve goals and operate cooperatively and cohesivelyDevelopment(Personal & Others)Demonstrate curiosity for learning and perform activities to make the most of their skills and boost potential in self and othersChange & InnovationCreates a view of change as an opportunity and inspires others.Looks for new ways to experiment with new ideas and approachesEmpowering & Motivating OthersThe ability to create a positive environment and enable others to have ownership of their jobs and responsibilitiesManaging PerformanceAt leadership levels sets clear goals and expectations for excellence performancePhysical DemandsThe physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Specific vision abilities required by this job include close vision and distance vision. While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk. May be required to lift and move boxes or packages not exceeding 10 pounds in weight.Supervisory ResponsibilitiesThis job has direct supervisory responsibilities.Impact of errorsThe impact of errors of this position could affect strategic results or Bank image through the regulatory agencies, customers and the community.Independence of JudgmentThe degree of judgement is related to creation, development and implantation of policies, strategies, and work methods of general application.Knowledge, Skills and Abilities· Managerial skills and Teamwork oriented· Write, speak and comprehend English and Spanish.· Analytic thinking capacity.· Computer literacy.· Problem solving skills.Minimum RequirementsJuris Doctor Degree together with specialized regulatory compliance training. Bachelor's degree Accounting, Business, Management, or other area.Five (5) or more years of work experience in the mortgage business, in risk management, audit, and compliance. Or the equivalent combination of Education and Experience needed to be able to perform the functions of this job.DisclaimerThe above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not indented to be an exhaustive list of all responsibilities, duties, skills required of personnel so classified. The reporting relationship may not reflect the most recent changes to the corporate reporting structure.EQUAL EMPLOYMENT OPPORTUNITY EMPLOYER
