Legal Collections Jobs in Baltimore, MD (NOW HIRING)

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Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2025. 

Note: All full-time positions include exceptionally low medical premiums in addition to a whole host of other benefits.  

 HOURS FOR POSITION: Monday - Friday, 9:00am-5:30pm(Hybrid  Schedule) 

Hiring Range - $178.683 - $223,354

The Vice President, Lending Compliance and Regulatory Affairs is responsible for directing and administering the regulatory compliance management program in support of Tower Federal Credit Union’s (Tower) Lending Division. The incumbent develops, implements, monitors, and updates process and procedures for the Lending Division in accordance with new or changing regulatory requirements to ensure compliance with real estate lending laws and legal requirements. 

This position, on behalf of the Senior Vice President of Lending, is the primary point of contact in the department for regulatory, internal and external audit matters, and legal concerns and complaints.

The incumbent will direct a professional team to provide leadership, guidance and support to the Lending Division in all aspects of the loan origination and loan servicing processes.

Principal Accountabilities and Functions

Provides regulatory guidance in support of Tower’s Lending Division inclusive of RE Lending, Consumer Lending, Loan Servicing and Collections.

Leads a professional team, focused on each area of the Lending Division (RE Lending, Consumer Lending, Loan Servicing and Collections), who will provide guidance and expertise to division leadership on legal and compliance requirements, operational risks and applicable internal controls.

Develops and coordinates Lending Division compliance review and monitoring designed to identify and manage regulatory compliance risk within RE Lending, Consumer Lending, Loan Servicing and Collections.

Acts as internal consultant to Lending Division leadership to ensure compliance requirements are effectively integrated into day-to-day operations along with appropriate training programs and monitoring plans for RE Lending, Consumer Lending, Loan Servicing and Collections.

Oversees legal, regulatory and administrative complaint investigative process for Lending Division and delivers relevant reporting and directs mitigation activities. Works with Internal Audit, Compliance and Risk Management offices to provide formal responses to official member complaints regarding RE Lending, Consumer Lending, Loan Servicing and Collections.

Coordinates with Internal Audit, Compliance, and Risk Management offices and prepares for regulatory, internal, and external audits affecting RE Lending, Consumer Lending, Loan Servicing and Collections by gathering and providing requested documentation and following up on additional requests. 

Recommends audit response and helps division leadership develop procedures to ensure adequate internal controls and to mitigate gaps as determined by auditors within RE Lending, Consumer Lending, Loan Servicing and Collections.

Maintains close relationship with Lending Division leaders and Tower leadership regarding relevant legal/compliance implications of implementation of new products, procedures, and operational initiatives.

Reports regularly to the Senior Vice President and Chief Lending Officer on emerging industry trends, regulatory changes and potential operational risks.

Directs and supervises monthly, quarterly, and annual HMDA compliance data collection and validation. Performs data reconciliation and sampling reviews and is responsible for annual submission of LARs to CFPB.

Reviews quality assurance and HMDA reporting to identify problematic patterns, practices or processes that could indicate Fair Lending violations and provides regular reporting and constructive feedback and/or guidance as necessary to Lending Division Leadership

Analyzes and reviews all new changes to federal and state regulations and advises the Lending Management Team including leaders of RE Lending, Consumer Lending, Loan Servicing and Collections to ensure that loan origination, QA, and loan servicing procedures are up to date to be compliant with legal and regulatory requirements, and investor requirements.

Recommends new Tower Board Policy, and drafts proposed updates to same, and creates operational procedures for RE Lending, Consumer Lending, Loan Servicing and Collections in furtherance of Board Policy.

Maintains and establishes methodologies and procedures to periodically monitor and evaluate current RE Loan portfolio as part of Tower’s Multi-Dimensional Portfolio Analysis.

Reviews with Lending Division leadership Towers loan portfolio status changes and reporting on delinquent and defaulted loans to determine deficiencies and recommends corrective action. 

In partnership with Lending Division leadership, performs a review for potential misrepresentation and fraud on charged off and first payment default loans when warranted.

Develops process to examine Tower Mortgage Loan Portfolio and to prepare quarterly Qualifying Collateral Reports for all loans pledged as collateral in accordance Federal Reserve and Federal Home Loan Bank Collateral Verification Review requirements.

Ensures, in collaboration with BSA/Fraud Department, Compliance and Risk Management offices, VPs, AVPs and Managers, that staff is trained to detect possible fraudulent activity, fair lending violations, and elder financial abuse.

Develops, in partnership with HR Training Department, overall compliance-training program for Lending Division including RE Lending, Consumer Lending, Loan Servicing and Collections in accordance with Board Policy and departmental goals.

Acts as Tower point of contact for credit bureaus Permissible Purpose audits. Interacts with other departments that use applicant or employee credit score information to monitor permissible purpose.

Develops, operationalizes, and maintains Vendor partnerships, including, but not limited to, those offering attorney services, paperless loan closing options, and compliance analysis software. Performs new Vendor due diligence and gains required approvals for contractual renewal, changes or updates.

Participates in the development, execution, and implementation of the department and credit union emergency and security procedures.  Provides input for business continuity plans and is responsible for implementing disaster recovery procedures should the need arise as remote electronic service will be critical should there be a disaster. Participates in disaster recovery testing of all RE Lending services.

Provides timely and accurate information to evaluate progress towards goals and objectives, to include developing, analyzing and presenting statistical and written reports on an ongoing basis.

Participates in designated projects and action items assigned in furtherance of Tower’s strategic plan as assigned by the Senior Vice President and Chief Lending Officer.

Responsible for writing Annual Performance Reviews for all direct reports and conducting annual performance meeting with each individual.

Directs and arranges for regular team meetings with reports in order to promote teamwork and cooperation and to provide feedback on successes and failures found in the day-to-day workflow and processes.

Accesses Member personal and financial information only as required by the job. Maintains confidentiality and security of all Member information.

Required Qualifications

Bachelor’s Degree in Business, Political Science or Finance.  JD preferred.

Five to eight years of progressively responsible experience in Lending operations, quality control, or compliance.

Or combination of education and experience.

Five years successful supervisory or management experience.

Completion of specialized training in real estate lending regulatory compliance, practices and operations highly desired.

Expert knowledge of State and Federal laws pertaining to mortgage lending and consumer lending industry (i.e. TRID, RESPA, HMDA, TILA, ECOA, SCRA, MLA and other Fair Lending laws, etc.) especially as applied to federal credit unions.

In-depth knowledge of conventional, correspondent and private investor loan programs and demonstrated understanding of the secondary mortgage market requirements.

Analytical decision-making ability with attention to detail.

Knowledge, Skills and Abilities

Ability to research legal and regulatory requirements affecting real estate and consumer lending.

Ability to manage projects from initiation to completion.

Ability to work under stress and to maintain personal and team productivity.

Ability to resolve problems and deal with a variety of situations where limited guidance exists.

Ability to create new process and procedures as dictated by system changes and updates.

Ability to work with mathematical concepts with a high degree of accuracy.

Ability to interpret, understand, and apply Federal and State lending regulations, Tower Lending Guidelines and FNMA/FHLMC/Investor Guidelines.

Ability to work and communicate effectively and professionally with Senior Management, Regulators and other departmental leaders.

Ability to work independently, to identify/solve problems, to seek guidance when necessary, and to resolve them in an expeditious manner.

PC Proficient to include Word, Excel, Outlook, internet, e-mail, DNA/CORE, FICS, loan origination software, and applications, as needed.

Ability to adapt to changes within internal, market or regulatory environments.

Ability to exercise prudent judgment in decision-making

Ability to work within stringent time constraints and in a high-pressure environment.

Ability to provide and receive constructive feedback from management.

Ability to manage a team and demonstrate the ability to evaluate and provide guidance to others.

Ability to represent the credit union to members and third-party strategic partners in a professional manner.

Thorough knowledge of Tower’s first mortgage and home equity products, consumer lending products, UW guidelines and processing procedures to ensure compliance with all current regulatory requirements and to ensure that the loans are meeting all CFPB, NCUA, Tower, MI and investor guidelines and rules.

Has knowledge of and adheres to credit union policies and procedures and all regulations related to the Bank Secrecy Act, the USA PATRIOT Act and OFAC. 

Working Conditions

Ability to lift up to 20 lbs. with or without assistance.

Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate