Job Title:
Compliance Officer - Residential Mortgage/Licensing/Exam Management

Company: FirstKey Mortgage, LLC

Location: new york city, NY

Created: 2024-04-27

Job Type: Full Time

Job Description:

Company BackgroundFirstKey Mortgage, LLC ("FKM") is one of the world's leading private label securitization and asset management firms. We are a boutique financial services company with a primary focus on the buying and securitizing of residential mortgage loans. Since inception, FKM has excelled in supporting loan acquisitions, securitizing, and managing real estate and other related assets in the U.S. and Europe. FKM was established in 2013 as a portfolio company of Cerberus Capital Management and has participated on over $50 billion of U.S. rated securitization transactions. FKM employs approximately 50 mortgage banking professionals and is located in New York City. Our officers and directors have an average of 20+ years industry experience. FKM strives for business excellence and superior execution with the following critical functions: Managing the loan bidding processes which includes data mapping and ingestion, loan payment history analysis and detailed communication with multiple counterparties.Efficient loan document review using machine learning and optical character recognition.Vetting of loans for any issues with lending laws, taxes, or underlying collateral value.Payment collection, surveillance, and loss mitigation once the loan is purchased.Securitization of loans into bonds and marketing these assets to institutional investors. Job Description and Responsibilities: Support the development and implementation of action plans, including policies and procedures to ensure all aspects of company compliance, and prevent violations and systemic compliance issues for internal departments and external service providers.Review changes to regulatory requirements and help manage regulatory developments internally and across all servicing relationships.Manage company licensing requirements for mortgage and consumer products and manage process for annual recertifications, state examinations, and audits for regulatory agencies and GSEs.Responsible for periodic corporate licensing filings and submissions.Develop policies and procedures regarding federal, state, local and GDPR (EEA and UK), international regulations regarding data security and consumer privacy.Support company records retention program and help implement best practices for secure data transmission and data archivingdestruction.Provide recommendations and monitor compliance training for all employees.Responsible for company vendor management program which includes onboarding for new vendors and periodic renewals for existing vendors.Manage corporate securities trading policy and monitor employee trading related activities.Provide compliance support for loan acquisition and securitization transactions.Experience with third-party compliance software toolssystems that can be utilized to increase efficiency, improve accuracy, reduce time, and help monitor process. QualificationsExperience with and knowledge of compliance and regulatory requirements applicable to consumer lending, mortgage banking, consumer products, servicing and other mortgage related laws and regulations. Hands on experience desirable.Experience in buildingdesigning internal and external control infrastructure through testing, policies, procedures, guidance documents, and training development. Proactive in identifying potential risks and proposingimplementing solutions. Minimum of 10-15 years of recent regulatory compliance or legal experience in banking or financial services.Desired: Experience withknowledge of '33 Act, '34 Act, and '40 Act, related to securitization (issuance, marketing, and periodic reporting).Ability to effectively communicate with all levels of management, auditors, and regulatory examiners. Well organized with the ability to prioritize and manage multiple tasks and deadlines simultaneously. Bachelor's Degree or higher required, JD desirable. CompensationThe base salary for this position is expected to be between $175,000 and $225,000 annually. The base salary offered to the chosen candidate will be commensurate with a candidate's relevant experience and other qualifications for the position, as determined by FKM in its sole discretion. In addition to the base salary, this position is eligible for an annual discretionary bonus and a robust benefits package.