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DIRECTOR, MBS COMPLIANCE
(Ref: 23245)
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Company: Location: Company Industries: |
Fannie Mae
US-DC-Washington
Financial Services |
Job Status: Min Experience Level: Compensation: |
Full-Time
5-10 Years Experience
Not Specified |
| Posted: |
Friday, May 15, 2009 |
Job Description:
FANNIE MAE
THE COMPANY
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
For more information about Fannie Mae and our career opportunities, please visit www.fanniemae.com The Director of MBS Compliance will lead Enterprise Compliance's MBS Compliance group and will oversee the development, implementation, execution and management of the MBS Compliance Oversight program and report compliance results to senior leadership periodically. This position reports to the VP of Anti-Fraud and Chief Privacy Officer and will manage a staff of four compliance professionals. The MBS Compliance group is responsible for ensuring Fannie Mae, as the MBS Issuer, Guarantor, Master Servicer, and Trustee, is in compliance with the rules of all securitization trusts and disclosure requirements. The Director will manage reviews to ensure compliance with applicable trust and disclosure requirements. Responsibilities include: - Develop Strategy and Manage Execution of:
- Framework for conducting compliance oversight activities
- Comprehensive plan to design and execute an effective compliance oversight program including, Risk Analysis, Control Identification, Monitoring, Testing and Issue Follow-up activities
- Queries, reports, and metrics to monitor compliance performance. Compile and report results to senior leadership, including instances of non-compliances and associated risks
- A systematic approach to gaining and maintaining knowledge of best practices in the compliance arena and create staff input mechanisms for collecting input on compliance improvement opportunities
- Partner with business units and the Office of the Trustee to
- Develop/Manage MBS Trust Compliance policies, procedures, and training
- Stay abreast of operational changes, programs or projects that may impact MBS Compliance
- Partner with other corporate compliance teams such as, Anti-fraud Compliance, Laws and Regulations, Privacy, Mortgage Fraud, SOX, Internal Audit, and Operations Risk, to leverage resources and information for performing compliance oversight
- Monitor to ensure the business units have effective controls in place to prevent errors or omissions that could result in breach of trust agreement or disclosure requirements
- Develop and maintain subject matter expertise of all trust and disclosure requirements
- Effectively communicate compliance requirements, risks, issues and remediation plans
- Manage and develop staff to ensure the program performs at the highest levels
PROFESSIONAL QUALIFICATIONS The successful candidate will have the following professional qualifications: - A minimum of 10 years of mortgage industry and compliance experience-Thorough understanding of the mortgage finance, capital markets, and real estate securitization along with significant experience in disclosure, and corporate trust requirements, securities issuance, guarantee, and master servicing compliance
- Certified Corporate Trust Specialist (CCTS) designation preferred
- Demonstrated leadership with evidence of increasing management responsibility throughout career history with focus on mortgage finance and governance
- Proven ability to design and successfully execute enterprise-wide compliance programs
- Demonstrated ability to develop and execute solutions to complex issues and transactions
- Excellent written and verbal communication skills, including the ability to develop and deliver presentations to senior management and industry. Demonstrated ability to communicate issues and recommendations persuasively and effectively to key stakeholders
- Demonstrated research and analytic skills as well as the ability to take disparate information and make strategic recommendations quickly
- Proven commitment to innovation and change and willingness to take the initiative to accomplish change
- Excellent customer service and interpersonal skills
- Knowledge of Fannie Mae products and systems is desired but not essential
- Some travel may be required (~25%)
EDUCATIONAL QUALIFICATIONS - Bachelor's degree in business, or related field with a concentration in Accounting, Finance, or equivalent work experience; an advanced degree is strongly preferred
LEADERSHIP QUALIFICATIONS - Demonstrated initiative and innovation in the development of an effective compliance strategy. Ability to present supporting data and arguments to achieve optimal results
- Demonstrated ability to provide leadership, coaching and direction to staff
- Anticipate the consequences and implications of the strategic direction, policies, practices and technology by quickly identifying the central or underlying issues relative to compliance
- Demonstrate a strong sense of urgency about solving problems, meeting challenging deadlines, and achieving critical goals
- Influence broadly and communicate clearly to ensure that people understand compliance requirements, why they are important, and the consequences of non-compliance
- Ensure strategy and execution alignment with key stakeholder and cross-functional teams as a means of achieving optimal results
- Establish and maintain relationships internally and externally that are critical to the successful fulfillment of this role. Ability to build effective coalitions and alliances
- Exercise engagement by gathering and presenting data honestly and in ways that are persuasive to others. Build strong business cases with logical arguments supported by convincing data to achieve desired outcomes
- Proven skill in achieving "win-win" solutions that advance the best interests of Fannie Mae's
- Hold self and staff accountable by executing and delegating deliverables to ensure that timely results are achieved
COMPENSATION
Fannie Mae's compensation and benefits package is very competitive. It is designed to help employees meet varying needs throughout their careers and to reward employee's skills, experience, and potential.
Fannie Mae is an equal employment opportunity employer and considers qualified applicants for employment without regard to race, gender, age, color, religion, national origin, marital status, disability, sexual orientation, or any other protected factor.
As a condition of employment with Fannie Mae, any successful job applicant will be required to pass a pre-employment drug screen and to successfully complete a background investigation, which may also include a credit check for positions in some areas of our business.
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