Default Business Controls Analyst

Summary:

As a member of the Default Business Controls team, the Business Control Analyst is responsible for executing various processes managed within the department. These processes include managing inbound and outbound service transfers, reviewing pre-transfer bankruptcy or other default data, staging of acquired loans, and processing default loans pending service releases.  Additionally, this role may also participate in audits of default processes to evaluate risks, effectiveness of controls, and compliance with investor/insurer or regulatory agency requirements. 

Essential Job Duties and Responsibilities:

• Review, audit and scrub of transfer data received from Sellers to prepare for staging and upload of data into Freedom systems.  Emphasis on review of bankruptcy related data.

• Review of corporate advances on bankruptcy loans. Analyze the data to identify which advances should be boarded into Freedom systems when the loans are acquired. 

• Staging of loans within Freedom systems so that Default businesses can resume servicing management of acquired loans.

• Coordinate with 3rd party vendors or external resources to achieve desired results on assigned tasks within servicing acquisition process.

• Identify areas of risk within managed processes and independently resolve or escalate if necessary to management.

• Manage tasks related to loan service release processes. This includes conducting research on accounts using various sources, such as the CADET bankruptcy database, trustee sites, internal systems, and other third-party systems.

• Conduct audit reviews as assigned to ensure most effective procedures in place. This will involve reviewing various items such as transactions in the servicing system, documents, records, reports, and policies & procedures in order to evaluate the effectiveness of internal controls. These reviews may be conducted within the Default Business Controls team or in another line of business within Default.

• Identify any issues within the bankruptcy team to ensure proper setup and treatment of accounts related to the onboarding or release of loans.

• Work closely with the Bankruptcy team to determine any accounting adjustments, and/or collection restrictions that are appropriate post-bankruptcy.

• Comply with all company policies and procedures.

• Maintain regular and punctual attendance.

Other Job Duties and Responsibilities:

• Monitoring of Bankruptcy accounts for payments in accordance with the bankruptcy plan to include trustee and post-petition payments.

• Understanding the filing of Proofs of Claim and Transfers of Claim with the bankruptcy courts and their scheduled deadline.

• Understanding of Investor and Insurer fee recoverability.

• Identify any issues that qualify for any legal action to include plan objections, claim objections, motions for relief and adversary actions with respect to risk.

• Assist on any special projects assigned by management.

• Performs other related duties as assigned.

Supervisory Responsibilities:

This position is an individual contributor with no direct reports but may provide guidance, leadership, or training to others.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

• Must have bankruptcy knowledge to decision what FMC is boarding.

• Ability to analyze and understand data and system requirements.

• Ability to interpret investor/agency regulations and guidelines.

• Able to work collaboratively with others.

• Articulate and effective communicator.

Education and/or Experience:

• High School Diploma or equivalent and 5 years of prior relevant experience or equivalent combination of education and experience in residential mortgage servicing specializing in Bankruptcy and Default.

• Bachelor’s Degree preferred.

Certificates, Licenses, Registrations:

None Required

Work Complexity:

Problems and issues faced are difficult and complex, and may require understanding of broader set of issues. Problems typically involve consideration of multiple issues and understanding of the financial/mortgage industry. Problems are typically solved through drawing from prior experience and analysis of issues.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Work is normally performed in a typical interior office work environment which does not subject the employee to any hazardous or unpleasant elements. The noise level in the work environment is usually moderate.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear.  The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; and reach with hands and arms.  The employee must occasionally lift and/or move up to 25 pounds.

Equal Employment Opportunity:

The company is committed to providing equal employment opportunities to all employees and applicants without regard to race, ethnicity, color, sex, marital status, sexual orientation, gender identity or expression, pregnancy, religion, national origin, age (40 and over), disability, military status, genetic information, or any other basis protected by applicable federal, state, or local laws.

Americans with Disabilities Act:

Applicants as well as employees who are or become disabled must be able to satisfactorily perform the essential job functions of the position either with or without reasonable accommodation. Applicants as well as employees are encouraged to meet with Human Resources as the organization shall review reasonable accommodations on a case-by-case basis in accordance with applicable law.

Job Responsibilities:

The statements reflect the general duties and responsibilities considered necessary to perform the essential functions of the job and should not be considered as an all-inclusive list of all the work requirements of the position. The company may change the specific job duties with or without prior notice based on the needs of the organization.