Compliance Officer-Mortgage Servicing Vendor Management
Position Description
Morgan Stanley seeks a key Mortgage Division Compliance Officer under Morgan Stanley Private Bank, National Association (MSPBNA) to implement the Monitoring Testing (MT) Program for all residential mortgage loan servicers outsourced by Morgan Stanley. Emphasis will be on the development, implementation and on-going maintenance of a MT Program for vendors performing mortgage loan servicing, loss mitigation or foreclosure functions. The position will interact with various corporate functions, i.e. Legal Compliance, Operational Risk, Technology, Privacy, Business Continuity, as well as with various levels of employees across the Enterprise. The position will work directly with employees and leaders of outsourced mortgage servicing vendors to improve processes, minimize risks, improve controls and create ongoing strategic value from our vendor partnerships.
Primary Accountabilities:
• Oversight of external residential mortgage servicers. Ensure mortgage portfolios are managed in compliance with contract terms, industry servicing standards and federal and state regulations.
• Assist to standardize vendor management framework for mortgage loan servicing, including the development and implementation of Vendor Management policies and procedures for outsourced mortgage servicers.
• Perform on-site visits to mortgage servicer's facilities to conduct operational / compliance audits.
• Implement the firm's monitoring program of mortgage servicing vendors to proactively identify and respond to potential compliance violations.
• Assist in development of performance SLA scorecards and management dashboard reports.
• Provide support in holding mortgage servicing vendors accountable for performance and develop action plans for those not meeting performance standards.
Skills Required
• Knowledge of federal and state laws impacting mortgage servicing such as RESPA, FCRA, FDCPA, SCRA
as well as the HAMP Program (or other government sponsored loss mitigation programs).
• Excellent verbal and written communication skills; ability to clearly articulate issues a must.
• Strong vendor-relations skills and ability to partner with vendors to develop practical solutions.
• Ability to prioritize work, effectively manage a large number of issues at one time and interact effectively with management.
* Knowledge of mortgage servicing systems preferred.
* Ability to accurately and efficiently prepare and review work papers.
• Microsoft Word, Excel, Powerpoint
Experience:
• Bachelor's Degree
• 5+ years Mortgage Servicing Operations and/or Mortgage Servicing Compliance (working knowledge of end-to-end mortgage servicing processes).
* JD or CPA preferred
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