Minnesota, Position Overview: This position serves as primary legal counsel to our consumer home mortgage division as well as leads the organization’s compliance function. The incumbent is responsible for planning, designing, implementing and managing the organization’s compliance program, which includes a compliance management system, vendor management and policy management.
Office Location: Any Compeer Financial office in Illinois, Minnesota or Wisconsin
Plans, designs, implements, and manages the organization’s formal, written compliance program, which includes board oversight, policies and procedures, regulatory change management, a formal training program, transaction testing and monitoring, prompt handling of consumer complaints, vendor management and monitoring of the program.
Provides guidance on risks resulting from violations of legal, regulatory, or contractual obligations and conformance with the organization’s policies and procedures involving legal and compliance matters.
Works closely with the board of directors, ELT, the enterprise risk management committee, the enterprise risk management team and the internal audit team to develop an effective and aligned compliance program.
Defines compliance risk data and implements a data-driven strategy for managing legal and compliance risk.
Responsible for, and regularly reports to the board of directors on the effectiveness of the organization’s regulatory compliance program.
Oversees the creation and administration of the organization’s vendor management program.
Manages the development and maintenance of the organization’s policy manual.
Serves as primary legal counsel to the organization’s Rural Living Solutions division and to other business units on regulatory compliance matters.
Maintains significant subject-matter expertise in the law of consumer lending, including the Truth in Lending Act, RESPA, and Regulation Z; the Home Mortgage Disclosure Act and Regulation C; Fair Credit Reporting Act and Regulation V; the Equal Credit Opportunity Act and Regulation B; SAFE Act; UDAAP; federal laws and regulations affecting correspondent lending and mortgage loan brokering; and regulatory compliance management.
Monitors, researches, analyzes and provides advice on existing and proposed industry trends, regulatory compliance, new laws and policies and their impact on the organization. Drafts legal opinions on complex areas of law pertinent to the organization.
Negotiates, drafts and interprets contracts and other legal documents between the organization and third parties, concerning loans, leases, insurance and other related matters in compliance with legal, regulatory and organizational policies.
Communicates business expectations and goals to team and is responsible for compliance team’s results.
Aids in establishing and developing guidelines to ensure the team provides a consistent quality level of service, which is timely, thorough and responsive to all internal clients.
Selects, develops, motivates, coaches, evaluates, trains and rewards team members.
Minimum Qualifications & Required Knowledge, Skills and Abilities:
Bachelor’s degree and a JD from an American Bar Association accredited law school.
Ability to obtain a professional license to practice law in Minnesota, Wisconsin or Illinois.
10+ years of experience in a law firm or corporate law department, providing legal advice to a bank or non-bank lender. Consumer financial services experience strongly preferred.
Three to five years of leadership experience preferred.
Knowledge of federal, state and local laws and regulations affecting legal and compliance issues within the financial industry and relevant to Compeer Financial.
Experience in the following areas is preferred:
Truth in Leding Act, RESPA, and Regulation Z
Home Mortgage Disclosure Act and Regulation C
Fair Credit Reporting Act and Regulation V
Equal Credit Opportunity Act and Regulation B
Federal laws and regulations affecting correspondent lending and mortgage loan brokering
Regulatory compliance management
Skill in applying legal principles to individual cases and problems.
Leadership skills to select, evaluate, engage, motivate, mentor, train, delegate, reward and lead remote team members.
Analytical, critical thinking and decision-making skills.
High level of integrity.
Flexibility in a fast-changing environment.
Strong interpersonal skills to establish and maintain effective working relationships with others using tact, courtesy and good judgement.
Presentation, negotiation, influencing and organizational skills.
Strong oral and written communication skills to effectively communicate complex topics to a variety of audiences and to write legal contracts and documents.
Strong computer skills including MS Office applications, software programs to originate and service loans and leases, and legal research sites.
Creative problem-solving ability.
Ability to remain objective in balancing business needs and risk.