VP, Business Controls

Company: Fay Servicing, LLC
Location: Chicago
Posted on: November 6, 2024

Job Description:

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 VP, Business Controls to join our team!Reporting to the Executive Vice President, Business Controls, the Vice President, Business Controls is responsible for managing a team of individuals who routinely analyze available data, reports, operational processes, and controls throughout the organization, with the purpose of identifying any existing control gaps or improvement opportunities.Through close partnership and direct interaction with operational managers, key stakeholders, and executives, the VP, Business Controls is responsible for proactively defining recommended processes and control environment enhancements and presenting them for consideration. Upon approval, the VP, Business Controls is responsible for defining the approach and leading work efforts to integrate changes and improvements.The VP, Business Controls helps identify, define, and implement process optimization best practices within the organization. This role is also responsible for the oversight of individual(s) performing issue management administrative functions to include, but not limited to, collecting, tracking, and driving the resolution of all material issues and maintaining updates to the system of record.What you will do for Fay:

• Build and lead a high-performing team of business control professionals through effective acquisition, onboarding, and training of talent. Manage performance, foster development, and provide mentoring to employees.
• Continually strengthen the subject matter expertise of the team through direct interaction with the business, reports, and outputs.
• Manage others in order to prioritize work and accomplish assigned tasks.
• Lead business control projects for the department to include data analytics, processes and controls.
• Work closely with senior management to ensure initiatives and resources are prioritized, managed, and reported in accordance with the organization's governance process.
• Proactively identify operational risks and control gaps in order to minimize customer and regulatory impacts.
• Champion ideas and suggestions to simplify and improve the control environment.
• Consistently deliver against task plans, anticipating and overcoming issues and obstacles.
• Routinely analyze existing processes, data, and reports; interpret results and make recommendations for improvement within assigned functional areas.
• Direct estimation of project effort and duration across multiple departments.
• Develop and maintain process flows, procedures and business control tools and templates.
• Effectively communicate with all levels of the organization.
• Draft and deliver presentations to senior management.
• Oversee individual(s) responsible for issue management administration to include researching and collaborating with issue owners to complete root cause analysis and identify the core issue requiring resolution, impacted population, severity of harm, duration of the violation, and pervasiveness.
• Work with the Compliance, Legal, QA, and the departments to define the appropriate controls to ensure the issue does not reoccur.
• Assess, prioritize, and monitor remediation plans to ensure that all are appropriately evaluated, investigated, executed and completed.
• Support issue owners by facilitating presentation material preparation, issue meeting minutes for accountability, new/existing process workflows, report requirements, training material, and document reviews, as needed based on bandwidth.
• Develop domain knowledge of Fay's business to include an understanding of short-term goals and long-term strategies for the organization.
• Lead with broad influence through the ongoing development of relationships across the organization.
• Maintain knowledge of federal, state, and local regulatory requirements; accountable to ensure audit and control processes are current, followed, and in compliance.
• Ensure compliance with Fay's policies, processes, and practices. Role model ethical standards, professionalism and code of conduct.
• Model behaviors that align with Fay's Values and Operating Principles. Recognize, reward and ensure alignment of team.
• Perform other duties and responsibilities as assigned.What you will bring to Fay:
  • Bachelor's degree in related field, or equivalent work experience; MBA or consulting experience preferred.
  • Experience successfully working and leading people/teams in a fast-paced work environment.
  • Training in Project Management and/or Six Sigma methodologies preferred.
  • 5+ years' experience managing people and leading teams.
  • Experience as a Project Sponsor or Subject Matter Expert responsible for leading business change/transformation initiatives.
  • 7 + years experience in Business Controls, Operational Risk, Change Leadership.
  • 7 + years implementing transformative initiatives.
  • 5 + years experience directly managing others.
  • 5 + years experience in a control/ compliance function.
  • 5 + years experience in issues leadership.
  • Knowledge of process improvement and project management methodologies preferred.
  • Experience in the financial services or mortgage industry, is strongly preferred.
  • In-depth knowledge of CFPB examination expectations for financial institutions required.
  • In-depth knowledge of mortgage industry regulations including CFPB, UDAP, RESPA, and TILA.
  • In-depth practical knowledge of internal preventative and detective controls, risk assessments and compliance processes, and applicable risk-based techniques for implementation of effective regulatory, compliance, and legal requirements and compliance processes.
  • Prior, demonstrated experience in reading and understanding regulatory content, and performing impact and control suitability analysis to identify potential gaps in the operation or its vendors.
  • Strong Microsoft Office skills, particularly in using Visio to develop process flows, Excel to compile and analyze data, and PowerPoint to develop presentations.
  • Advanced skills in MS Word, Excel and PowerPoint. Role requires an understanding of systems and their application to advance the efficiency of operation.
  • Strong leadership with proven ability to foster an environment of positive employee engagement and trust.
  • Ability to effectively manage and lead change; high learning agility with the ability to connect multiple variables to identify opportunities and solutions.
  • Effective management skills include talent selection, training, coaching, mentorship, and performance management.
  • Demonstrated ability to establish credibility; coupled with recognizing and supporting the organization's culture, values, and priorities.
  • Strong verbal and written communication skills with the ability to effectively interact with all levels across the organization.
  • Strong interpersonal skills with the ability to develop and maintain effective relationships across the organization to influence and drive required results.
  • Ability to effectively present to and facilitate discussions with executive leadership.
  • Strong analytical skills and business acumen; ability to identify undefined risks and controls through inquiry and documentation review.
  • Ability to conduct root cause analysis and provide actionable recommendations.
  • Strong problem-solving abilities; strong fiscal and technical aptitude.
  • Strong decision-making abilities and business acumen coupled with sound judgment.
  • Strong organizational skills and effective time management for self and team; ability to manage multiple competing priorities with assigned resources.
  • Ability to prioritize, and organize time and resources to consistently bring projects to successful completion.
  • Client-focused with strong execution skills and results orientation; able to link to business needs with tactical execution and results.
  • Consultative and collaborative work style; able to build consensus with other leaders across the organization.
  • Compliance orientation; strong attention to detail; high quality of work product.
  • Self-directed; comfortable working with ambiguity and uncertainty.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 . E-Verify is a registered trademark of the U.S. Department of Homeland Security.
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Keywords: Fay Servicing, LLC, Lombard , VP, Business Controls, Executive , Chicago, Illinois