KeyBank Operations Analyst (Preventative Tester- Loss Mitigation Department) in Buffalo, New York
Operations Analyst (Preventative Tester- Loss Mitigation Department)inBuffalo, NYatKeyBank
Date Posted: 10/8/2020
Employee Type: Full-Time
Location: 4224 Ridge Lea Road Buffalo, NY
Date Posted: 10/8/2020
Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.
Our goal is to be the best regional bank in the U.S. What that means is we put our clients needs first and take a customized approach to meeting those needs. At Key we ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.
ABOUT THE JOB:
In this position, you will be responsible for coordinating and administering a preventative quality control program within the Loss Mitigation department. The selected candidate will provide assistance to the department by managing the loss mitigation process quality testing for Consumer and/or Mortgage products. You will need to critique processes in place and to make suggestions on best practices, identify gaps in the processes and workflows and develop solutions to those deficiencies. You will analyze work of other team members and identify needs for correction and remediation, which includes but is not limited to individual/group coaching and process development.
The candidate should possess working knowledge of regulatory and investor (FNMA, FHLMC, FHA, etc.) guidelines as they pertain to single point of contact and Loss Mitigation and a critical eye for understanding where errors have occurred by loss mitigation processers to instruct processors on remediation of processing errors. The candidate will support collection of requested items related to internal & external auditors.
ESSENTIAL JOB FUNCTIONS:
Review and reperform the work of loss mitigation underwriters and Single Point of contact to provide preventative controls over the work before it effects the department, bank or consumer.
Auditing of work performed by internal loss mitigation Underwriters/Single Point of contact and collection of data for audit reviews.
Manage daily reviews of process quality testing results and exception reporting for Consumer and/or Mortgage products and confirms remediation is completed timely.
Coordinates control plans and analyzes quality testing/results and exception reporting to identify need for corrections to achieve expected results.
Analyze quality results to determine trends, risks, etc. and develops solutions for consideration in process enhancements.
Review and analyze borrowers financial documents, including financial statements, hardship letter, tax returns, bank statements, pay stubs, profit and loss statements, awards letters, and credit bureau reports to complete independent assessment of initial underwriters review and provide recommendation that influences credit decisions.
Operate as last line of defense for loss mitigation decisions, final modification and regulatory letters through independent assessment within RESPA required timelines.
Utilize control reports to observe agents actual state compared to schedule state compared to service.
Complete daily reviews of high risk regulatory driven letter/document level agreements and partners with agents/management to take action based on observations.
Operate within strict regulatory and operational SLAs.
Determine accuracy of borrower eligibility for loss mitigation workouts based upon proprietary, GSE, HUD, and MHA/HAMP criteria.
Identify gaps in the processes/ workflows and develop solutions to those deficiencies.
Maintain knowledge of compliance mandates, mortgage servicing policy and procedural updates and investor specific guidelines and related changes in the mortgage servicing industry.
Operates as a mentor to Loss Mit underwriting and Single Point of Contact team through informal process coaching and continuous improvement development
Facilitate process innovation and/or special projects assigned by manager.
Perform investigation and escalation for complex or high severity complaints and remediation items.
Provide recommendations for improvements to KeyBank s single point of contact and Loss mitigation Policy and Procedures based on operational insights into gaps identified.Conducts single point of contact workflow/ control report training and provides on-going advisory support to direct system users and management.
Proven ability to comprehend and perform complex activities independently
MARGINAL OR PERIPHERAL FUNCTIONS:
Navigation in internal lending systems
2 to 4 year degree or equivalent experience.
3 years default Mortgage servicing experience.
1 year Loss Mitigation Underwriting /Single Point of contact experience.
Thrives in changing business environment, flexible and committed.
Proven leadership and interpersonal skills.
Outstanding organizational skills with the ability to juggle multiple projects and priorities; must work well in a dynamic, fast paced work environment.
Strong time management and organization skills, fast learner, self-motivated, and comfortable taking initiative and handling several priorities simultaneously
Excellent analytical skills, attention to detail and ability to work within time constraints
Excellent oral and written communication skills.
Ability to interact within all levels of the bank.
Bachelor s Degree or higher is preferred or equivalent training and/or work experience in a related role
Experience with SMDU, HSSN, WP2, FHA Connection, and Valeri
Investor (Fannie May, Freddie Mac, etc.) knowledge is preferred.
Knowledge of RESPA is preferred.
Experience in operations or financial background.
Ability to conduct data analysis and spreadsheet work.
Strong PC skills including Microsoft Word, Excel, PowerPoint and Outlook
Ability to analyze title reports, credit reports, residential appraisals or broker price opinions, financial statements and tax returns.
Ability to rapidly acquire detailed knowledge of departmental policies, practices and procedures
FLSA STATUS: Exempt
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.