The Fay Group originated in 2008, is a full-scale real estate services company that offers mortgage servicing, property renovations, business purpose lending, insurance, and more to homeowners, investors, and clients nationwide. Fay handles a wide range of mortgage loan solutions for prospective homeowners with varying credit histories and also offers to refinance for existing mortgages.
The Fay Group is made up of separate business units offering a complete range of home ownership products and services that provide customers with solutions to navigate the challenges of home ownership while helping them build toward their long-term financial goals. We consider the people behind those mortgages and work hard to give them the best chance possible to stay in their homes.Fay Cares!The Fay-Constructive Foundation was established to fulfill the philanthropic mission of The Fay Group employees to serve the communities in which they live and work.
Over 80% of employees across Fay, Constructive, and GenStone affiliate companies make voluntary contributions to the Foundation. Each quarter, their contributions are donated to organizations focused on improving education opportunities, combating poverty, and supporting military service members and first responders.Come join us on our journey to serve our customers and be the leader in our industry! We are currently looking for a Regulatory Change Administrator to join our team.Reporting to the VP, of Compliance, the Regulatory Change Administrator collaborates with the Legal department to ensure the organization adheres to legal and regulatory changes and executes required actions. The Regulatory Change Administrator also coordinates directly with impacted business units and leadership to assess the impacts of agency changes. Additionally, the role ensures updates to company processes, policies, procedures, and controls are made.
The role is responsible for providing support and leading the integration of the company’s compliance with applicable laws, regulations, and investor guidelines into the business units as required.
What you will do for Fay:
- Conduct all activities and duties in compliance with regulatory, governance requirements and internal Project Management Office (PMO) standards.
- Monitor and communicate changes in regulatory requirements and integration of Compliance requirements for the business units.
- Coordinate with Originations and Legal to identify new laws affecting the company and outline the specific Compliance requirements to ensure alignment.
- Collect necessary documentation to support Legal’s interpretation of impacts on changes in laws, regulations and investor guidelines; ensure departments implement process, policy and procedure changes timely.
- Assist with the development of employee training related to new regulations for approval to implement as necessary.
- Identify agency changes by monitoring StateNet updates and periodic agency website reviews.
- Develop and maintain the Regulatory Change Tracking Tool.
- Identify and escalate regulatory risks and issues as needed; assist project and line of business resources to formulate solutions.
- Lead/facilitate projects and activities with senior business representatives/process owners to determine and track deliverables.
- Track project progress, issue resolution, and deliver accurate project status information for stakeholders.
- Create dashboards, executive summaries, detailed progress updates, and reporting for leadership.
- Lead regulatory change meetings. Take and distribute meeting minutes, record action items during meetings, and perform basic follow-up.
- Prepare and communicate change updates and status reports for clients as requested.
- Develop domain knowledge of Fay’s business to include an understanding of department goals and company objectives.
- Ensure compliance with Fay’s policies, processes, practices, and regulatory requirements.
- Model ethical standards, professionalism, and code of conduct.
- Demonstrate behaviors that align with Fay's Values and Operating Principles.
- Perform other duties and responsibilities as assigned
What you will bring to Fay:
- Bachelor’s degree in related field (or equivalent combination of years of experience with High School diploma/GED)
- 4+ years of working knowledge in mortgage servicing or compliance
- Previous experience cooperating with Project Managers for the delivery of projects preferred
- Experience with FHA, FNMA, and FHLMC loan servicing requirements preferred
- Understanding of CFPB requirements, as well as other federal and state rules and regulations for mortgage servicing preferred
- Proficient in Microsoft Office and project management tools
- Strong verbal and written communication skills
- Solid interpersonal skills
- Demonstrated analytical skills and problem-solving abilities
- Solid judgment with the ability to evaluate and decide compliance issues
- Strong time management skills
- Strong attention to detail
- Ability to work effectively in a fast-paced, dynamic environment
- Compliance orientation
- Customer service/ client orientation
- Results Orientation
- Flexible, open to change, ability to learn new things quickly
- Collaborative; ability to work effectively with others
Equity and Inclusion are embedded into our way of working at Fay. We believe that the best ideas come from having a team that is diverse in backgrounds, experiences, and perspectives. We strive to ensure each of our employees feels valued, respected and included and is presented with equal opportunities to be successful here at Fay. We are proud to be an equal-opportunity workplace. The Fay Group and affiliated companies participate in E-Verify. For more information go to www.dhs.gov/E-Verify. E-Verify is a registered trademark of the U.S.
Department of Homeland Security.
