Picture yourself building a successful career at AIG - working alongside other talented, highly motivated individuals committed to reaching our goal of becoming our industry’s employer of choice. We believe that our success depends on a world class team with diverse and unequaled expertise. If you would like to be a part of a newly re-designed strategic organization where there are no limits, we invite you to consider putting your talents to work with our United Guaranty (UGC) Compliance team!
This position serves as the Mortgage Compliance Officer for UGC’s mortgage purchasing operations– CONNECTIVE. CONNECTIVE supports a mortgage platform that allows AIG companies to purchase high quality, conforming whole loans originated by UGC’s customer base to be held as long term portfolio investments by the insurance subsidiaries of AIG.
In this newly created role, you will be responsible for building the compliance framework for the CONNECTIVE organization, documenting processes and creating an ongoing plan to monitor all new mortgage industry reform and regulations.
This position reports to the Chief Compliance Officer of UGC and will partner closely with the CONNECTIVE operations team. CONNECTIVE is currently in the process of staffing up its operations, and it is anticipated that the team will have 14 employees by early 2013. The Mortgage Compliance Officer will be a key member of the team in this start-up business operation.
•Manage the regulatory compliance function for a new correspondent channel residential mortgage aggregator, ensuring the business is in compliance with all applicable Federal and state consumer lending and mortgage banking laws and regulations, as well as any third party investor requirements (e.g. Fannie and Freddie).
•Develop and maintain a robust regulatory compliance program, including implementation of any necessary policies and procedures.
•Develop a monitoring, testing and reporting function to ensure that appropriate internal compliance risk controls are in place.
•Keep abreast of new and updated Federal and state consumer lending and mortgage banking laws and regulations; recommend and oversee the implementation of new compliance standards and procedures.
•Provide ongoing compliance education and training to senior management and staff employees; maintain ongoing communications with operations to ensure that all business processes are in compliance with current law, regulations, policies and procedures.
•Work closely with the compliance departments of third party vendors to ensure that these providers are in compliance with the latest regulatory requirements.
The Ideal Candidate Should Have
•5+ years of mortgage compliance experience, preferably in a correspondent channel environment.
•Extensive knowledge of Federal and state mortgage lending laws, regulations and programs.
•Strong understanding of end-to-end residential mortgage processes, from origination to servicing.
Subsidiaries of United Guaranty provide mortgage guaranty insurance throughout the U.S. that protects lenders against mortgage credit losses. In addition, United Guaranty's comprehensive range of financial products and services to lenders and investors includes structured products, innovative pricing options, and comprehensive online support. United Guaranty's international locations include operations in Hong Kong, Seoul, Tokyo, Sydney, London, Madrid, Milan, Budapest, and Mexico City.