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Ally Sr Analyst BL Risk Testing in Charlotte, North Carolina

Position Description

Ally Bank Mortgage Sr. Credit Quality Analyst position is an opportunity for a skilled individual to work in the business and provide oversight to the Bulk Purchase Due Diligence Program. This program includes the oversight and monitoring of the quality of the credit/valuation reviews for third party vendor(s) that are an integral to Ally's Mortgage Bulk Purchase Program, including but not limited to: performing loan file reviews to gauge vendor performance, selecting loan file samples, managing the rebuttal process, measuring and trending defects, and reporting to Sr. Management on both loan and vendor quality. This candidate will be responsible for performing all steps within the mortgage quality oversight review process accurately and within the required timeframe to mitigate compliance/credit risks associated with the purchase of closed loans from a variety of sellers and aggregators. In this role, the person will work closely with key business partners on quality issues through identification of both defects and opportunities for improvement to the program including process and procedures. Role will also participate in briefing management on performance, quality issues, defect trends, and vendor performance. Candidate is required to have a strong knowledge of federal and state mortgage origination laws and regulations. This role will also provide back-up support for completing HMDA Validation Reviews, Pre/Post QC Reviews, Regulatory Change Management, and/or as assigned by management. The candidate needs to be a highly motivated individual with an appetite to take on increasing responsibilities. This role is part of a larger team which will act as an independent review and evaluation of loan compliance and credit quality in support of Ally Bulk Mortgage acquisition strategy.

Job Responsibilities

  • Perform timely loan file compliance reviews on potential Bulk Loan Purchases. Specifically, ensuring that potential loan purchases comply with all Federal and State Laws or Regulations.

  • Perform timely oversight of due diligence provider compliance reviews on potential Bulk Loan purchases

  • Oversee and coordinate Due Diligence provider relationship, including assignment of loans, timely completion, management of Due Diligence Provider's findings, and oversight of Due Diligence providers work to ensure sustained high quality.

  • Provide monthly reports on Bulk Purchase compliance findings and Due Diligence vendor's performance to management. Additionally, provide any other reporting needs to management or vendor.

  • Maintain Bulk Purchase Compliance Scripts and Severity Ratings

  • Coordinate with Mortgage Compliance Director on program administration, requirements, finding reviews, exceptions, and reporting

  • Support other area of the team as necessary, including HMDA Validation Reviews, prefund and post close DTC, Regulatory Change Management, and/or as assigned.

  • Ability to collaborate with business units to ensure root-cause analysis is incorporated into the correction action process.

  • Maintain a high degree of accuracy, departmental productivity and quality team goals.

  • Maintain current knowledge of business policies, procedures, federal & state regulations, GSE and investor requirements

  • Support as needed Regulatory Change Management throughout the Mortgage Business

  • Works on special projects and other assignments as needed

Qualifications

  • Type of prior related experience: Minimum - Five plus years mortgage prefund or post close quality review (QA/QC)

  • Strong knowledge of TRID as well as new and changing mortgage lending compliance regulations including, but not limited to: Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Housing Act, Truth in Lending Act, RESPA, Flood Disaster Protection Act, Dodd-Frank, CRA, HMDA, Fair Lending, HOEPA, Predatory Lending, FACT Act, and UDAAP well as all other Federal and State Laws and Regulations related to originations and Bulk/Whole Loan acquisition

  • Strong understanding of mortgage lending including operations

  • Working knowledge of conforming and non-conforming product guidelines, underwriting policies, loan documentation requirements and GSE Seller guidelines.

  • Underwriting experience for Whole Loan Acquisitions, Bulk, Correspondent preferred

  • JUMBO UW Experience

  • Understanding of Regulatory and Statutory Regulations regarding to Whole Loan Bulk Acquisitions

  • Proficient with Microsoft Word, Excel, and Outlook

  • Demonstrated ability to learn computer systems and adapt to new programs

  • Strong organization skills

  • Superior attention to detail

  • Good written and verbal communication skills

  • Special skills/ abilities/ competencies required:

  • Dedicated and cooperative team player

  • Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative; ability to work productively under minimal supervision

  • Good working knowledge of mortgage banking practices and systems, particularly quality control

  • Proven leadership in engaging cross-functional stakeholders while working with urgency.

  • Excellent oral and written communication -- to internal and external customers

  • Demonstrate Ally Bank Core Values

Ally Overview

Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers. Ally has an award-winning online bank (member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing digital wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.

Business Unit/Enterprise Function

Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer care. A subsidiary of Ally Financial Inc. and member FDIC, the bank offers online savings, interest checking, money market accounts, certificates, and IRA Plans and products. Ally Bank has been named "Best Online Bank" for five of the past seven years by MONEY® Magazine.

Total Rewards Information

Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Plus, we have a flexible paid-time-off program including time off for volunteer opportunities. Ally's Total Rewards Program is designed to enrich your life at work -- and outside of it and includes:

  • Industry-leading 401K retirement savings plan with matching and company contributions

  • Wellness program encouraging healthy living with financial rewards

  • Flexible health insurance options including dental and vision

  • Pre-tax Health Savings Account with generous employer contributions

  • Pre-tax commuter benefits

  • Other work-life integration benefits including parental and caregiver leave, adoption assistance, backup child and adult/elder day care program, child care discounts, tuition reimbursement, LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs

Ally is an Equal Opportunity Employer

We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.

Job Title: Sr Analyst BL Risk Testing

Company: Ally Financial Inc.

Category: Mortgage

BU Function: Ally Bank

Experience Level: Experienced

Requisition ID: 19-7027

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