Morgan Stanley is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management, and Asset Management. Wealth Management provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit & lending, deposits & cash management, annuities, insurance, retirement and trust services.
Morgan Stanley Private Bank, National Association ("MSPBNA") offers banking and credit products and services, including securities-based lending, mortgage loans and home equity lines of credit primarily to Morgan Stanley Wealth Management's high net worth clients.
Morgan Stanley's Bank Compliance team seeks a Residential Mortgage Origination Compliance Quality Control Professional to assist in the development, execution and maintenance of a Compliance Quality Control Plan that meets Fannie Mae's ("FNMA") compliance quality control requirements and held for investment/sale requirements.
- Assist in the development of a Compliance Quality Control Plan
- Assist in the development of Compliance Quality Control review scenarios and test scripts for residential mortgage-related alphabet regulations (e.g. Regulations B, P, U, V, X, Z, FDPA, SAFE Act, Fair Housing Act)
- Perform monthly Compliance QC reviews based on a pre-selected sample of loan files including both originated and non-originated loan files
- Assist in the development and publication of monthly and quarterly reports reflecting the results and any trending analysis of the Compliance QC reviews
- Work with business owners to effectuate Compliance Quality Control action plans and offer guidance to business owners on action plan progress to closure
- Draft compliance-related User Acceptance Test (UAT) Scripts for the residential mortgage loan origination system;
- Perform bank regulation UAT
- Assist the Head of Residential Mortgage Compliance in project activities including document preparation based on compliance timing requirements, signature requirements, other federal and state-specific rules; and
- Assist the Residential Mortgage Compliance Origination Lead in providing guidance in the insertion of compliance rules in 1st line of defense training modules, job aids, procedures and loan origination system control request changes .
- Bachelor's Degree or 5-10 years of origination mortgage experience with knowledge of compliance and QA functions
- Substantive knowledge of FNMAs origination compliance quality control requirements
- Knowledge of consumer protection alphabet regulatory requirements (e.g. Regs B, C, P, U, V, X, Z, Flood Disaster Protection, SCRA, Fair Housing, and SAFE)
- Knowledge of state regulatory requirements
- Exceptional ability to explain complex topics and deliver prompt, clear answers that colleagues and clients can act upon with confidence
- Experience using residential mortgage lending loan origination systems' data to review for data accuracy and integrity
- Skilled in building test scenarios and scripts based using loan origination system functions as the basis for UAT.
- Strong client-relations skills and ability to partner with clients to develop practical solutions that meet business needs while remaining compliant with applicable laws within the Banks' risk tolerance
- Able to handle confidential information professionally and with appropriate discretion
- Outstanding written and verbal communication skills; excellent negotiating and drafting skills
- CRCM or other Compliance certification desired
- Exceptional reasoning and analytical skills
- Excellent organizational skills to be able to manage a large workload
- Strong team-orientation, work ethic, and drive
- Project management skills
- Ability to effectively present information in one-on-one and group situations to customers, clients, and other employees or the organization
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