Compliance Specialist

Department: Legal / Compliance / Licensing / OC

Employment Type: Full Time

Location: Bloomington, MN

Reporting To: SVP - Compliance

Compensation: $80,000 - $90,000 / year

Description

Responsibilities and Duties:

• Manages the mortgage quality control program, including pre-funding, post-closing, discretionary, targeted, and vendor-performed loan file reviews.
• Provides oversight of QC review workflows to ensure reviews are completed accurately, consistently, and within established service level expectations.
• Reviews and validates quality control findings, defect classifications, rebuttals, corrective actions, and remediation documentation.
• Coordinates timely responses to third-party QC vendor findings and ensures required supporting documentation is obtained and reviewed.
• Partners with internal stakeholders to resolve findings, strengthen controls, and address recurring loan quality or documentation issues.
• Develops, maintains, and monitors QC reporting, defect trends, root cause analysis, corrective action plans, and management reporting.
• Identifies process gaps, emerging risks, training needs, and control enhancements based on QC review results and trend analysis.
• Maintains awareness of mortgage regulations, investor requirements, agency guidance, product guidelines, and internal policies applicable to quality control.
• Supports updates to QC procedures, review checklists, reporting practices, and escalation standards to promote consistency and compliance.
• Develops and maintains an understanding of mortgage regulations, investor requirements, product guidelines, and internal policies applicable to assigned reviews.
• Maintains confidentiality of borrower, broker, and company information in accordance with policy and applicable requirements.
• Broader work or accountabilities may be assigned as needed.

Education and Experience:

• Bachelor's Degree in business-related field or equivalent. CRCM or CMCP certification(s) preferred.
• 5+ years of mortgage audit, compliance, and Fannie Mae/Freddie Mac quality control experience.
• Advanced knowledge of mortgage loan documentation, investor guidelines, regulatory requirements, and quality control practices.
• Knowledge and experience using mortgage origination systems, document imaging platforms, and quality control tools.
• Proficient in Microsoft Office Suite, particularly Excel and PowerPoint.
• Ability to review complex loan files, identify discrepancies, and document findings in a clear and consistent manner.
• Strong attention to detail, analytical thinking, follow-through, and ability to manage deadlines in a production-based environment.
• Strong work ethic, sound judgment, and commitment to quality, compliance, and continuous improvement. 

• Quality Control Program Management: Oversees pre-funding, post-closing, discretionary, targeted, and vendor-performed loan file reviews to ensure accuracy and consistency
• Regulatory & Investor Guideline Knowledge: Applies advanced knowledge of mortgage regulations, investor requirements, and agency guidance to evaluate loan file compliance
• Defect & Root Cause Analysis: Reviews QC findings, defect classifications, and trends to identify root causes and drive corrective action
• Analytical & Detail-Oriented Review: Identifies discrepancies in complex loan files and documents findings clearly and consistently
• Reporting & Trend Monitoring: Develops and maintains QC reporting, defect trend analysis, and management reporting to support informed decision-making
• Process Improvement: Identifies process gaps, training needs, and control enhancements based on QC results to strengthen the quality control function

• Integrity: Applies rigorous, objective standards to loan file reviews and maintains strict confidentiality of borrower, broker, and company information
• Collaboration: Partners with internal stakeholders and third-party QC vendors to resolve findings and strengthen controls
• Excellence: Delivers accurate, timely QC reviews and reporting that support strong compliance and risk management outcomes
• Critical Curiosity: Stays current on evolving mortgage regulations and investor guidelines while identifying opportunities to improve QC processes and controls

Benefits

• Competitive compensation package, including base salary and performance-based bonus opportunities
• 401(k) plan with 100% company match up to 4%
• Comprehensive health coverage: medical, dental, vision, HSA, and FSA options
• Generous paid time off: 20 days PTO, company holidays, and sick time
• Paid parental leave
• Company-paid life insurance and disability coverage
• Employee Assistance Program (EAP): mental health, financial, and wellness support
• Professional development: tuition reimbursement and growth opportunities
• Commuter and transit benefits