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Documentation and Audit Specialist
Flagstar Bancorp
Troy, MI, United States
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Position Title DSO Documentation & Audit Specialist
Location Headquarters-Troy, MI
Job Summary The Default Servicing Operations (DSO) Documentation & Audit Specialist (“specialist”) is responsible for change management of the DSO Documentation Library (procedures, process flows, etc.). Key responsibilities include (without limitation): (1) oversight of all activity within the default documentation library, including tracking and documenting changes requested; (2) conducting quality reviews of documentation drafts to ensure: (a) compliance with requirements; (b) processes are accurately reflected; and (c) documentation is written clearly and succinctly; (3) timely submission of revised documentation for publication on Flagstar’s intranet site; and (4) communicating changes to impacted parties. Further, the specialist is expected to review other servicing business unit procedural documentation in order to: (1) identify default related touch points; (2) determine if procedural gaps exist; and (3) resolve identified gaps with applicable business partners.
The specialist is also responsible for coordinating audit response fulfillment by: (1) gathering information requested by auditors; (2) partnering with internal team members to ensure the accuracy of information provided, and; (3) packaging comprehensive and organized deliverables. As needed, the specialist will partner with Flagstar risk partners which include, without limitation: Regulatory Affairs, Internal Audit, Quality Control, and Regulatory Compliance.
Job Responsibilities:
• 50% of time: Managing changes to the DSO Documentation Library and identifying governance gaps that may exist between DSO and other Flagstar business units. Once gaps are defined the specialist will communicate to operational leaders to rectify. Partners with other DSO team members to ensure all processes and procedures are updated. Creating and/or maintaining the process flows for all audits.
• 30% of time: Coordinating audit response fulfillment (up to 150+ per year). Coordinates all documents for audit responses in conjunction with the audit manager.
• 10% of time: Staying up-to-date on latest default-related requirements governed by (without limitation): regulatory agencies, investor/insurers, state and federal law, and Flagstar policy and procedure.
• 5% of time: Collaborating with other default servicing teams, and other internal teams, to assist in the continued development of a best in class default servicing oversight operation.
• 5% of time: Completing special projects as designated by management.
Job Requirements:
• HS Diploma, GED or Foreign Equivalent
• Bachelor's degree strongly desired or Comparable Work Experience
• 3+ years experience in default servicing, banking or financial services operational support role.
• 3+ years in a technical writing role.
• 1+ years experience responding to regulatory and/or investor examinations.
• Broad exposure to default servicing including Investor/Insurer and regulatory requirements.
• Strong understanding of best practices in Mortgage Banking industry-wide Servicing Operations (end-to-end) as well as regulatory expectations for Servicing Operations and experience in bridging statistical analysis, technology, and process optimization.
• Excellent written and verbal communication skills
• Strong meeting facilitation skills
• Equally comfortable working with people and data
• In depth knowledge of Microsoft Office products
• Strong planning and time management skills
• Strong problem solving and negotiation skills
• Ability to maintain a positive attitude and professional demeanor in demanding situations
• Ability to thrive in a fast-paced high-pressure environment
• Effectively prioritize and execute tasks while managing multiple assignments
• Escalate difficult situations effectively
• Prepare accurate and thorough documentation
• Travel up to 10%
Internal Use Only: Band G