Fair Lending Officer
loanDepot, America's lender, matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives. While there are many loan-touch career opportunities within loanDepot, we could not take care of our employees, nor our customers, without the amazing support of our corporate teams. From HR & Marketing to Finance & Compliance, #TeamloanDepot is always searching for the best talent out there. With over $100 billion in funded loans since inception, the evolution & enthusiasm is not slowing down anytime soon. Come join us!
loanDepot — We are America’s Lender.
Responsible for developing, implementing and administering an effective Fair Lending Program to ensure the Company remains compliant with fair lending laws across all channels. Oversees periodic fair lending monitoring. Serves as an advisor to senior management on fair lending issues. Identifies, recommends, and implements solutions to appropriate line of business managers. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
- Manages non-data related Fair & Responsible Lending programs, including new products, risk
- assessments, model reviews, etc.
- Reviews Fair Lending data analysis, including collaboration with fair lending outside counsel and fair
- lending data analysis vendor, and develops innovative approaches to identify and monitor fair and
- responsible lending risk.
- Leads projects and provides direction to analysts as it pertains to fair and responsible lending
- Provides expert advice to management based on results of program reviews to characterize fair and
- responsible lending. Prepares findings and presents to internal and external stakeholders in written and
- verbal form.
- Collaborates with business units to improve understanding of program review findings and implications for business practices.
- Reviews programs for joint initiatives between the business and fair and responsible lending
- Oversees annual and quarterly HMDA submission.
- Maintains up-to-date knowledge of regulations and regulatory guidance, enforcement actions, and
- industry trends and incorporates this knowledge into ongoing development and maintenance of fair
- and responsible lending programs.
- Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
- Performs the position safely, without endangering the health or safety of themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
- Responsible for recommending final hiring and termination decisions, overall direction, coordination, and evaluation of employees. Responsibilities include interviewing and training employees; planning and directing work; managing performance; addressing complaints and resolving problems.
- Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
- Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position.
- Demonstrates familiarity with statistical and analytical tools using for fair lending analysis.
- Demonstrates knowledge of financial regulations such as HMDA, ECOA, UDAAP, and FHA and with corporate compliance programs including risk assessments, testing and monitoring, training, policy/procedure development, and implementation of new products and business processes.
- Exceptional verbal, written and interpersonal communication skills with emphasis on ability to express statistical ideas and concepts clearly and logically.
- Demonstrates a strong sense of ethics and confidentiality.
- Strong problem solving, decision making, and reporting skills.
- Intermediate skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
- Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
- Effective organizational and time management skills.
- Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
- Ability to organize and prioritize work schedules on a short-term and long-term basis.
- Ability to provide consultation and expert advice to management.
- Ability to make informal and formal presentations, inside and outside the organization; speaking before assigned team or other groups as needed.
- Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
- Ability to work with little to no supervision while performing duties.
- Experience in the Mortgage industry preferred.
- Minimum five (5) + years of management experience preferred.
- Experience in developing fair & responsible lending programs required.
- Bachelor’s Degree preferred and a minimum of eight (8) + years’ experience in compliance, applied statistics, economics, or other quantitative area.
- Competitive compensation reliant on ability & experience.
- Excellent benefits package including multiple health, dental & vision options.
- Company paid life and AD&D Insurance, as well as additional voluntary benefit possibilities.
- 401K with robust company match.
- 15+ PTO days in addition to 8 paid company holidays.
- The opportunity to work for America’s Lender under the vision of industry legend, Anthony Hsieh.
We are an equal opportunity employer and value diversity in our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.