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Business Accountability Associate
1 month ago
Wells Fargo is seeking a highly skilled Business Accountability Associate to join our team. As a Business Accountability Associate, you will play a critical role in ensuring the company's policies and procedures are adhered to, and risks are mitigated. Your primary responsibilities will include participating in and providing support for low-complexity matters related to policy and regulatory adherence, risk mitigation, or control efforts. You will also be responsible for researching, reviewing, documenting, and presenting findings related to issues, records, policies, and procedures.
Key Responsibilities:
- Participate in and provide support for low-complexity matters pertaining to the business' policy and regulatory adherence, risk mitigation, or control efforts
- Research, review, document, and present findings related to issues, records, policies, and procedures for which answers can be quickly obtained
- Collaborate and consult with peers, colleagues, and managers to implement actions in support of risk-mitigation and control initiatives
Requirements:
- 6+ months of risk management, business controls, quality assurance, business operations, compliance, or process experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Preferred Qualifications:
- US residential mortgage processing and underwriting experience with experience in income calculation, credit and assets review
- Basic Microsoft Office skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to take initiative and drive for results with minimal supervision
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex fast-paced environment
Job Expectations:
- The candidate must be willing to work within US hours typically between 6:30 PM to 3:30 AM Indian Standard Time for initial 6 months (and as business requires) and 1:30 PM to 10:30 PM Indian Standard Time after 6 months
- Perform in-depth review of mortgage loan file including Credit, Capacity, Capital and Collateral documents
- Detailed review of Credit related documents such as Credit Report from Experian/Transunion/Equifax, Credit Supplements, Mortgage Statement, and Letter of Explanation etc.
- Detailed review of Capacity related documents such as Paystub, W2, VOE, Award letters and Bank Statements etc.
- Detailed review of Capital related documents such as Bank Statements, Gift letter, Stocks and Bonds etc.
- Detailed review of Collateral related documents such as Property Appraisal Report, Flood Report, and Purchase Agreement etc.
- Recommend borrower's eligibility in accordance with internal policies and procedures, agency guidelines and overlays utilizing Automated Underwriting System (AUS)
- Ability to identify potential red flags relating to customer information, income, assets, property, all parties to the transaction, etc.
- Analyze risks and offsets related to performing in-depth, prefund loan reviews. Present recommendations for resolving various issues related to reviews and loan files
- Utilize current knowledge of credit policy guidelines and procedures, use available tools and resources to recommend credit decision
- Ability to clearly document the loan rationale findings in loan notes
- Review stipulations/conditions for compliance and completion of loan file specific to the borrower profile, loan program and product
- Receive direction from more experienced managers and exercise judgment on relevant reviews within rules and regulations while developing an understanding of internal company requirements
- Provide communication regarding overall process and transaction quality to appropriate parties
- Research, review, document, and present findings related to issues, records, policies, and procedures for which answers can be quickly obtained
- Receive direction from supervisors and exercise judgment within defined parameters while developing understanding of function, policies, procedures, records, and other business information
- Collaborate and consult with peers, colleagues, and managers to implement actions in support of risk-mitigation and control initiatives