The Residential Quality Control Manager will be responsible for managing the team that creates and monitors the process of auditing the Residential Banking Quality control program. The role will be an internal part of the Residential Banking Leadership team. To remain independent, the role will report directly to the Director of Residential Banking.
The manager will be expected to closely monitor regulatory and investor guidelines, while working closely with key stakeholders on changes and any process improvements that may be required. They will deliver the key reporting metrics to the appropriate leaders within the organization, as well as to regulators, agencies and investors when required.
Principal Duties & Responsibilities:
- Build a compliant QC program for Residential Banking focusing on:
- Regulatory Compliance: Required by Fannie Mae, Freddie Max, FHA, VA, and other investors to ensure ongoing eligibility and avoid penalties or suspension.
- Loan Quality Assurance: Helps identify and correct loan defects, preventing repurchase demands or indemnifications.
- Fraud Detection: Uncovers potential fraud or misrepresentation in loan files, borrower documentation, or appraisals.
- Operational Improvement: Provides feedback to improve underwriting, processing, and closing procedures.
- Risk Management: Monitors and mitigates risks associated with loan origination, documentation, and approval.
- Reputation Protection: Preserves the lender's credibility with investors, regulators, and consumers.
- Investor Confidence: Demonstrates sound origination practices and control environment, promoting trust and continued funding access.
- Training and Development: Identifies trends and root causes of errors to tailor staff training and policy updates.
- Ongoing monitoring of regulatory and investor requirements.
- Deliver analysis and report to key stakeholders.
- Work with key stakeholders on processes to remain complaint and efficient.
- Recommend and deliver key action plans when needed.