Strategic Financial Solutions

  • Lending/Compliance Associate

    Job Locations US-NY-New York
    Category
    Other
    Job ID
    2018-1138
  • Overview

    • Do you have strong analytical skills?
    • Can you assess information from multiple sources?
    • Do you stand behind your decisions or recommendations?
    • Are you interested in helping people to achieve financial peace of mind?
    • Do you enjoy interacting with smart, committed, action-oriented colleagues who place high value on results and people?

     

    If you answered “YES!” to these questions, then a career in Underwriting might be right for you.

     

    About the team

    Strategic Financial Solutions is a rapidly growing, entrepreneurial, consumer financial services firm that seeks a Lending/Compliance Associate to join the Legal/Compliance team in its Lending Divisions, Peerform Inc. and Versara Lending.  We provide a broad range of unsecured personal installment loans to borrowers.  This position provides you with a challenging opportunity to execute and learn, and above all, be rewarded for success.

    Responsibilities

    This person will be responsible for oversight and testing of the Sales, Underwriting, and Servicing functions to ensure adherence to credit policy, operating agreements, and regulatory requirements.  S/He acts as the primary line of defense and requires the full re-evaluation of sampled loans with issues tracked and communicated to the Lending Leadership Committee to ensure identified defects are remediated in a timely manner.  Additionally, S/He will also assist the Lending Compliance Office with state licensing requirements such as renewals, audits, and other requests for information. 

     

    On-going responsibilities may include:

    • Periodically review underwriting procedures to test for accurate representation of credit policy and intended execution of strategies designed by Legal/Compliance, e.g. verifying the borrower’s identity and income, analyzing the borrower’s financial documents, and ensuring that all aspects of the application are in alignment with Versara and Peerform’s credit policies.  
    • Evaluate sampled loans, leveraging both randomized and targeted techniques. Loan level reviews include, but are not limited to, recalculation of qualifying income and spot checking terms to ensure loan agreements are following usury laws.
    • Periodically monitor Sales and Servicing calls to ensure general conformance to Fair Lending, Equal Credit Opportunity Act, UDAAPs, and other regulations
    • Perform independent reviews and testing of underwriting criteria control environment including QA programs to ensure proper controls exist to identify and control risk taking within the underwriting function
    • Prepare executive summary of findings with recommended corrective actions, challenge business corrective action plans and monitor execution of corrective action plans
    • Provide consultation to compliance officer, loan officers, underwriters, servicers, other lending personnel, auditors and regulatory examiners

    Qualifications

    • Working knowledge and/or industry expertise of regulatory matters related to consumer lending
    • Strong written and verbal communication skills, understanding/competency in regulatory matters and compliance, preferably concentrated in retail credit risk functions, retail loan review, regulatory environment or consumer lending
    • Technically proficient, execution focused, with strong business acumen
    • Flexible & adaptable to competing and changing priorities



    Education

    • Bachelors degree required, ~1-2 years of experience

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