The Compliance - Legal Specialist performs compliance monitoring and testing of various Company processes and conducts analysis of results obtained. This position is for a Specialist which requires analytic skills and decision making. The Compliance - Legal Specialist must be a good communicator, resourceful, and organized. Because this position requires travel, a clean driving record is essential.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.
1. Compliance Research – Assists in the provision of regulatory guidance regarding applicable federal and state regulatory requirements and makes recommendations regarding whether changes require the implementation of new processes and procedures. Reviews new and revised forms with compliance-related information.
2. Legal – Assists with the handling of subpoenas, legal investigations, responses to regulatory agencies as required.
3. BSA Compliance – Assists the Assistant AML Compliance Officer. Performs research and assists in preparation of Suspicious Activity Reports for filing with FinCEN and provides to Assistant AML Compliance Officer for review and concurrence. Maintains SAR record retention. Assists in the preparation of annual AML Risk Assessment. Assists in the preparation of response to the annual independent BSA Review.
4. WV TNB and Late Fee Reviews – Reviews WV TNB and Late Fee Review Dashboard, notifies process owners of errors and ensures correction is performed. Prepares quarterly report for submission to WV.
5. OFAC Compliance – Assists the Assistant OFAC Compliance Officer and perform duties as required. Assists in the preparation of annual OFAC Risk Assessment. Assists in the preparation of response to annual independent OFAC Review.
6. Compliance Monitoring and Testing - Performs compliance monitoring and testing as required by the Compliance Calendar including, but not limited to, Internal Policy Reviews required by regulations and investors.
7. Compliance Audit Analysis Testing - Performs analysis of compliance testing results, develops reports, and provides recommendations for correction of deficiencies cited.
8. Compliance Audit Remediation – Assists in the coordination of remediation of compliance audit findings with various department managers.
9. Sub-Servicing Oversight – Performs compliance reviews of servicing activities to ensure compliance with GSE requirements and applicable federal and state regulations.
10. Internal Audit – Performs the annual SAFE Act Review and other internal audits as required by the Internal Audit Calendar. Creates Audit Reports and provides recommendations for correction of findings cited.
11. Compliance Service Desk – Secondary responder to compliance related inquiries sent to the Compliance Service Desk.
12. Exam / Audit Activities – Assists VP with research pertaining to the remediation of exam findings.
13. Branch Audits - Performs on-site Branch audits as required which may require overnight, out of state travel.
14. Policy and Procedure Development - Assists in the development of internal policies and procedures that pertain to this position.
EDUCATION, EXPERIENCE, LICENSURE, AND COMPETENCIES
1. Four-year college degree and two-year compliance related work experience preferred. Combination of education and related work experience may be considered.
2. Knowledge of regulatory compliance is desired. Compliance or BSA certification is preferred.
3. Requires effective communication skills, both verbal and written.
4. Requires exceptional organizational skills and strong attention to details.
5. Proficient with Microsoft Office (e.g., Word, Excel, Outlook).
6. Strong aptitude and desire to provide excellent customer service.
7. Ability to simultaneously manage and accomplish multiple tasks / projects and deadlines.
8. Trustworthy, honest, and display a high-level of integrity.
9. Ability to work effectively in a team environment.
10. Ability to identify and resolve problems in a timely manner.
11. Able to understand and respond appropriately to basic inquires.
12. Able to read, write, and communicate using the English language sufficient to perform job functions.
13. Ability to use Company equipment in assigned area (including but not limited to telephone, copiers, fax machines, computers, internet, etc.)
14. Able to access, input, retrieve, and interpret information using applicable computer systems (including, but not limited to, Microsoft Word, Excel, Outlook, industry-specific computer software, etc.)
15. Works well independently.
16. Able to handle deadlines and working within company guidelines.
17. Compliance with all Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and Office of Foreign Asset Controls (OFAC) requirements is required. Employee must complete annual training in these areas.
Most companies start with a business plan. ALCOVA Mortgage started with a friendship. Bound by common background and inspired by a passion to serve, childhood friends Bobby Nicely, Billy Siple and Rob Lindstrom dreampt of one day starting a business.
In 2003, the trio joined together to establish a mortgage company—ALCOVA—an acronym for Alleghany County, VA, in honor of their roots.
In 2012, ALCOVA Mortgage made its debut on the Inc. 5000 list of fastest-growing private companies in the United States and has been recognized every year since. The company’s phenomenal growth of 96% in three years propelled it into the league of such legendary businesses that gained notoriety on the prestigious list as Dell, Microsoft, LinkedIn, Pandora, Timberland, Zillow, Yelp, and Domino’s Pizza.
Today, ALCOVA continues to thrive, largely because of its roots in a friendship and the passion to serve.