Position/Title: Compliance Specialist
Reports to: Compliance Manager – Trainer (during initial 90 days)
The Compliance Specialist will use their ability to work independently, make critical judgement calls and multi-task. The Compliance Specialist accurately audits existing clients to ensure the legitimacy of the client business, including but not limited to location and their permissible purpose(s) on an annual basis and/or as dictated by change in ownership, activity and/or location. The Compliance Specialist monitors client self-pulls and invalid social security number usage. The Compliance Specialist is well versed in the New Client Onboarding process and vets new members in keeping with Bureau requirements and department procedures and policies.
- Perform weekly audits on end users who pull their own credit report.
- Perform annual audits on all clients to include: verification of ownership, permissible purpose, location and bona fides, as well as consumer consent.
- Vets new members in keeping with Bureau requirements and department procedures and policies.
- Ongoing monitoring of clients for self-pulls and invalid SSN, at minimum
- For clients adding a new branch, review documentation and perform quality control submitted by internal sales support and activate account.
- Communicate with Accounting Department on any accounting items when closing or reactivating an account.
- Every six months run a report in MCL that shows all users who have the ‘off-inactive’ setting on them and verify that all ‘human’ users have this removed for security purposes.
- Use templates in DocuSign for service agreements, custom agreements, branch add forms, audits, etc.
- Perform audits of any client or end user for which we have received a complaint/dispute or with whom we have had other compliance issues.
- Assist in gathering documentation when the Bureaus and/or SOC II auditors conduct their annual audits of our company.
- Perform New Client Onboarding: timely and detailed vetting of new clients prior to activation including documentation, communication and setup with Bureau requirements and company standards.
- For client prospects that complete our online application and service agreement for credit data and related services: follow detailed vetting process of the company to ensure they are a good fit prior to activation. This includes but not limited to:
- Verifying license via NMLS/state mortgage websites
- Establishing company Bona Fides via their state’s Secretary of States website and/or other resources
- Performing internet searches on the company/personal guarantor
- Communicating Status of Account with internal partners
- Ordering and reviewing onsite inspections of applicant
- Updating CRM platform with all compliance information, notes, etc.
- Work on any special projects as requested by management.
Other Skills and Capabilities:
- Ability to function independently in a multi-task environment, as well as part of a team
- Comfortable communicating with internal and external clients
- Likes to keep busy: ensuring they fully occupied with the job throughout the day
- Ability to make determination when to check with management vs. when to proceed
- Adapt to change and ability to take constructive criticism in stride
- Maintains a positive attitude and patience
- Computer skills include strong MS Office Suite skills along with overall computer literacy
- Ability to learn and adapt to new software programs
- Experience with SalesForce
- Strong planning and organizational skills
- Detail oriented; rule-follower
- Comfortable using a web camera for internal meetings with teammates and management
Required Experience and Skills
- Minimum 1 year of Compliance or Audit experience in at least one of these industries: Mortgage Loan Origination; Banking; Reseller Consumer Reporting Agency (CRA); National CRA
- Possess at minimum a basic knowledge and understanding of laws relevant to Credit Data and related services, such as, but not limited to, the FCRA, FACTA, ECOA, RESPA and GLB.
- Knowledge of the Compliance policies of National CRA, i.e. Experian, Equifax, Transunion with respect to Reseller requirements
- Experience with auditing or vetting clients to FCRA and Bureau standards
- Knowledge of state and federal (NMLS) mortgage company & loan officer licensing requirements
- Demonstrate diplomacy with coworkers from all departments as well as clients to resolve Compliance issues
- Attention to detail and ability to independently multi-task work to completion
- Strong verbal and written communication skills
- Strong MS Office Word, Excellent MS Office Excel
- Experience with SalesForce a plus
- 3+ years Reseller CRA, National CRA or Mortgage industry experience required.
** Experience Requirements specific to INTERNAL HIRES
- Minimum 6 months Credit Verification (or similar) experience at Advantage Credit, Inc.
- Proven ability to consistently and quickly investigate, document and support vetting results.
- Previous compliance experience or equivalent combination of education and experience.
- Demonstrated attention to detail and interest in and willingness to investigate and not take things at face value or for granted. ‘Trust, but verify.’
- Internal: current ACI employee with minimum 6 months superior, relevant experience (i.e. Credit Verification).
- External: suitable candidates will have relevant Reseller and/or CRA compliance experience, a suitable home office, and will meet the minimum ISP requirements.
This job requires that you be physically and mentally able to work independently 8 hours a day at a desk with a computer setup, phone and video camera. As a member of the Risk Management Team, each Compliance Specialist follows the same mantra: “To educate, communicate and hold clients accountable” (to Bureau and Regulatory requirements and standards). The Compliance Specialist follows Advantage Credit policies and procedures while utilizing their experience in at least one of the following industries: Mortgage Origination; CRA Reseller; National Bureau Repository. The Compliance Specialist relies upon their Compliance knowledge and experience to routinely make judgment calls as necessary and appropriate. While not a ‘Call Center’ environment in that the call volume is not sustained and high, the Compliance Specialist is part of the Compliance Team phone queue, is assigned general Compliance email requests and interacts with and responds to clients in a timely, professional manner both by email and by phone.
Company Performance Guidelines and Expectations:
- Oral and Written Communication – Demonstrates strong attention to detail; presents accuracy and thoroughness while speaking and writing clearly, concisely, effectively and informatively; responding appropriately and respectfully to questions and concerns in a timely manner. Edits/proofs own written documentation for spelling and grammatical errors. Ability to read and interpret written information.
- Motivation and Problem solving – Works well in problem solving situations, demonstrating persistence to overcome obstacles, using reason and common sense when dealing with a variety of situations and topics. Demonstrates openness to input and suggestions from others, always looking for ways to improve and promote quality product, providing input to management.
- Planning and Organization – Able to prioritize and plan work activities, demonstrating ability to utilize time efficiently.
- Attendance, Punctuality and Dependability – Is punctual, ensuring work responsibilities are covered when absent, attends meetings promptly. Responds promptly to client, borrower and co-worker needs. Follows instructions, responding to management direction and guidance, completing tasks on time, notifying the appropriate person as necessary to keep apprised of any issues or with an alternative plan.
- Interpersonal Skills – Focuses on resolving conflict, maintains confidentiality at all times, listening to others without interrupting, keeping emotions under control and remaining open to the ideas of others.
- Teamwork – Contributes to building a positive team atmosphere, supporting individual’s efforts to succeed.
- Work ethics – Treats all others with respect, integrity and professionalism in a tactful manner, whether be it co-worker, management, clients, borrowers, vendors, creditors, etc., even when under pressure. Follows through on all commitments.
- Cost Consciousness – Remains mindful of conserving organizational resources.
- Organizational Support – Follows policies and procedures and completes administrative tasks in a timely manner.
To apply for this position, email your cover letter and resume to Human Resources at email@example.com
We are an equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law