RRE QC Audit Associate

New York
Sep 20, 2016
Sep 24, 2016
Employer Type
Direct Employer
Employment Type
Full Time
Job Board
Job Description:

* Primary Location: United States,New York,New York * Education: Bachelor's Degree * Job Function: Risk Management * Schedule: Full-time * Shift: Day Job * Employee Status: Regular * Travel Time: No * Job ID: Description Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities. Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all. * The Mortgage Quality Control Auditor will conduct pre closing quality control loan reviews on conforming and/or non-conforming loans submitted and identify potential red flags or causes of concerns that may not be listed under established audit criteria * Works independently with management and technical groups within the functions they support * The position requires the individual to independently exert leadership and effectively orchestrate the assigned portion of the QC process. * Assists in development and executes formal test plans. Identifies non-conformance with established processing and underwriting procedures and makes recommendations to address weaknesses or deficiencies * Provide an independent quality review of a high percentage of home equity and first mortgage files, from application through closing. * Identify any potential red flags or areas of risk concern and escalate them for additional verification or investigation. * Good knowledge of information systems elements (hardware, software, network) and their application to business functions/processes. * Good understanding of the key processes in the business and the business rules that impact the development and/or implementation of information systems. * Maintains proficient knowledge of the Bank's underwriting policies, investor guidelines, and state and federal regulations, including but not limited to HMDA, ECOA, CRA, Truth-in-Lending Act-Reg Z, RESPA-Reg B, CFPB and other related regulations. * Assists with the business monitoring/ Corrective Action Plan (CAPs) validation. Includes requesting MIS, preparation of test scripts, reviewing findings with CAP owners, maintaining all backup documents and discussing findings with Management. * Works with multiple programs/systems on projects of moderate complexity * Ensuring accuracy, internal consistency, uniformity, and compliance with regulatory commitments and expectations * Performs additional job duties as required. N1234 Qualifications Requirements: * 2-years work experience in mortgage loan processing or equivalent work experience within the mortgage industry. Experience in underwriting, processing or Quality Control, or a combination thereof. Familiarity with closing documentation required * Excellent organization skills and ability to demonstrate control, flexibility, and while maintaining quality and high productivity * Attention to detail, ability to multi-task and work independently and as a team member * Excellent communication skills, both written and verbal. Ability to articulate complex scenarios in a narrative format and provide detailed reports based upon audit findings * Proficient PC skills (Microsoft Office), with the ability to learn new software and to summarize and present data in an effective manner. Ability to use the internet for research * Excellent understanding of all aspects of loan programs and internal and external mortgage related guidelines Schedule: * 40 hour work week - 9 hour day - 1 hour break * Hours: 8AM to 8PM flexible schedule * Overtime: Required and Expected as necessary Salary: * Commen