To supervise the functions and day-to-day activities of the Escrow Analysis team, ensuring timely and accurate completion of annual analysis of member escrow accounts, establishing of escrow accounts, removal of escrow accounts and New Loan Boarding reviews. Ensures the performance of all duties in accordance with Navy Federal's policies and procedures, all U.S. state and federal laws and regulations, protecting Navy Federal assets. Oversee/direct and lead complex/difficult tasks of moderate to considerable impact and considerable latitude requiring advanced analysis.
- Direct processing of New Loan Boarding reviews for all new mortgages entering into the mortgage servicing system
- Monitor process of reviewing loan data obtained from the mortgage loan documents received at closing to minimize risk, penalty or damage from non-payment to ensure accuracy and timeliness of all tax and insurance bills
- Supervise the responses to electronic and Web online e-messages, written, and telephone communications from member and non-members (i.e. regulators, Investors, vendors)
- Control and define methods for escrow analysis, reconciliation, and penalties within regulatory compliance
- Ensure tax lines are correct in compliance with Real Estate Settlement Procedure Act (RESPA) and Housing and Urban Development (HUD) guidelines
- Review production and exception reports to identify and resolve exceptions
- Acts as liaison with vendor and taxing authorities in matters relating to escrow accounts
- Serve as point of contact for responding to and resolving escalated inquiries from the members, staff, and management
- Participate in ongoing strategic planning process with senior management team
- Analyze and compile statistical reports weekly, monthly, annually for management
- Ensure timely and accurate completion of all employee and vendor scorecards
- Develop and implement measurable productivity standards and monitor outcomes
- Assess daily production and adjusts work assignments to meet work volume fluctuations
- Develop and maintain procedures for the section
- Review and research disputed evaluation results; determine and negotiate resolution with appropriate parties
- Analyzes workflow, procedures, and practices, and provide recommendations for projects and process improvement initiatives involving the improvement of controls in the overall servicing; collaborate with business partners and vendors as necessary and communicate updates to staff
- Collaborate with Quality Control (QC) on monthly reviews and items requiring additional review
- Review audit reports from business partners (internal audit, Quality control, risk and compliance) and collaborate to drive quality improvement
- Proactively manage to the annual budget to prevent overruns and assist in the preparation of monthly variance tracking reports
- Ensures adherence to investor guidelines, state and federal regulations and alignment with Navy Federal policies and procedures
- Supervises Mortgage Tax & Escrow output and trends to ensure completeness, accuracy and compliance with applicable rules and regulations
- Organize and prepare a response to all risk assessments and audits, internal and external
- Serves on the Escrow Functional Advisory Committee with Vendor
- Performs other duties as assigned or appropriate
- Ability to meet deadlines and to handle simultaneous tasks and projects in a fast paced environment
- Advanced knowledge of RESPA guidelines and loan documentation as well as Escrow Analysis Processing
- Significant experience in mortgage account management servicing operations
- Advanced knowledge of mortgage lending concepts and principles
- Advanced knowledge insurance/escrow requirements
- Advanced knowledge of lending products and applicable federal guidelines/laws (e.g., HUD, the Real Estate Settlement Procedures Act (RESPA) etc.)
- Experience in supervising and leading employees
- Working knowledge of Mortgage Production and/or Mortgage Servicing Systems
- Advanced organizational, planning, time management, and problem solving skills
- Advanced skill in exercising initiative and using good judgment to make sound decisions
- Advanced skill interacting tactfully and effectively in difficult situations
- Advanced verbal and written communication skills
- Effective word processing and spreadsheet software skills
- Effective skill developing, coaching and motivating employees to achieve production results
Desired Qualification(s)
- Knowledge of Navy Federal objectives, policies & procedures, organizational and functional relationships
- Bachelor's Degree in Business, Finance or related field or equivalent education/experience
- MSP knowledge preferred
Hours: Monday - Friday, 8:00AM - 4:30PM
Locations: 820 Follin Lane, Vienna, VA 22180
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
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