Counsel for Consumer Regulatory Affairs and Mortgage Matters
- Counsel for Consumer Regulatory Affairs and Mortgage Matters
ABOUT GUARANTEED RATE:
Guaranteed Rate, one of the largest and fastest growing independent mortgage companies in the U.S., is an industry leader in delivering low rate, low fee mortgages with unparalleled customer service. Headquartered in Chicago, IL we have nearly 3,000 employees in over 170 offices nationwide. Guaranteed Rate is the 8th largest retail lender in the country and has recently been recognized in Inc. Magazine as a top private job creator and one of the fastest growing private companies in the U.S.
Guaranteed Rate is working to reinvent the mortgage experience through innovation, technology and a relentless focus on providing industry leading mortgage products and superlative customer service. The Counsel for Consumer Regulatory Affairs and Mortgage Matters will embrace and support these efforts by interpreting and keeping abreast of regulatory changes, ensuring that the Company complies with a host of federal and state laws, including consumer regulatory requirements relating to the residential mortgage business. The ideal candidate is able to work independently, solve problems creatively, prioritize relentlessly, exercise business judgment soundly, and operate with a sense of urgency to get things done. The Counsel will report directly to the Chief Compliance Officer and support Executive Management and the General Counsel.
KEY DUTIES AND RESPONSIBILITIES:
The Counsel will be expected to:
- Provide advice, guidance and insight to Executive Leadership, management and others on existing and emerging consumer regulatory issues.
- Follow and report on emerging trends of federal and state regulatory and enforcement agencies, including the Consumer Financial Protection Bureau, U.S Department of Justice, State Attorneys General and others.
- Support the Chief Compliance Officer in developing and enhancing the Company’s Compliance Management Program, Risk Management Program, Compliance Risk Assessment Process and other key initiatives.
- Identify, develop and implement new and improved policies, procedures, and training programs to support compliance with a wide array of consumer regulatory matters while supporting the Company’s key business initiatives.
- Assist the Chief Compliance Officer and Compliance Manager in enhancing examination management program, preparing for regulatory examinations, and responding to related requests and actions from and by federal and state regulatory and examination authorities.
- Provide key leadership in identifying consumer regulatory risk and executing risk mitigation programs that are consistent with safe and sound business practices and appropriate business growth and support.
- Build trust as essential legal partner with business leaders to identify productive and business focused solutions to ongoing consumer regulatory challenge.
MINIMUM JOB REQUIREMENTS:
- Financial Services Experience: Two to four years of consumer regulatory experience in the financial services space, with an emphasis on residential mortgage lending and related mortgage activities.
- Mortgage Operations Experience: Strong knowledge of the following areas:
- TRID – Designing and implementing test plans to ensure compliance with the TILA-RESPA Integrated Disclosure rules.
- QM/ATR – Ensuring compliance with the Qualified Mortgage safe harbor provisions and Ability to Repay requirements in the mortgage origination process.
- RESPA – Ensuring compliance with Section 8 of the Real Estate Settlement Procedures Act, including with respect to co-marketing and cobranding agreements with real estate settlement service providers.
- CMS – Knowledge of and experience in administering a strong Compliance Management System per the requirements of the Consumer Financial Protection Bureau.
- Privacy and Security Experience: Experience with privacy and security matters for financial institutions, including drafting privacy and security policies and procedures, managing incident response, and compliance with applicable federal and state privacy and security laws, rules and regulations, including the Gramm-Leach-Bliley Act and state breach notification laws.
- Advertising and Marketing Experience: Experience reviewing print, digital, radio, and television advertising and marketing collateral and campaigns for compliance with applicable federal and state laws, rules and regulations, including the FTC Act, Fair Debt Collection Practices Act, Truth-In-Lending Act, UDAAP, Fair Lending, and the SAFE Act. Working knowledge of the Telephone Consumer Protection Act, Do Not Call rules, and Telephone Sales Rule relative to call center activities, lead acquisition, and telephone marketing best practices is required. Experience with intellectual property preferred.
- Demonstrated ability to cope with a rapidly changing regulatory environment in a leadership capacity.
- Excellent writing and interpersonal skills with the ability to establish trusted partnerships with all levels of management.
- Flexibility and willingness to work with challenging timelines.
- Self-directed professional with attention to detail and excellent planning and prioritization skills.
- Member in good standing of the Bar in any jurisdiction of the United States.
- Juris Doctor Degree.
CORPORATE GROUPS SUPPORTED BY THIS POSITION:
Compliance, Risk Management, Technology, Sales, Production, Underwriting, Marketing, and Strategic Planning.
Guaranteed Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law.
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