Sr Quality Assurance Analyst

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Enterprise Job Description:

Examines residential loan documentation for accuracy, completeness, and compliance with appropriate company and secondary market investor standards. Evaluates credit decisions for accuracy based upon established risk parameters and in accordance with policy, program, and product guidelines. Provides feedback to business partners as appropriate. Responsibilities may include examination of several different types of lending (conventional, government-backed, home equity, etc.). Responds to company, individual, and investor audits. Assists with fraud detection and prevention. May recommend modifications to quality assurance, underwriting, loan processing, servicing, or fraud prevention procedures. Provides training and direction to more junior staff. Generally has 5 years of experience in residential loan underwriting or processing and/or 3 or more years of experience as a quality assurance analyst.

Line of Business Specific Description:

Responsible for performing inline Quality Assurance (QA) reviews for Wholesale Flood & Insurance Operations production teams. QA analysis includes ensuring the bank is in compliance with regulatory flood insurance requirements, such as Flood Disaster Protection Act (FDPA) regulations related to the placement and renewal of flood insurance. Responsible for validating insurance documentation and coverage calculation methodology.

Essential Job Functions:

• Review insurance policies for compliance with bank and federal guidelines
• Partner with teammates and business partners to resolve items out of compliance
• Calculate the appropriate amount of required insurance based on regulatory requirements, credit risk policy, etc.
• Calculate/determine force placement insurance for coverage that has expired or lapsed
• Participate in projects and related assignments, as needed

Required Skills:

• 2+ years of lending and/or documentation experience (mortgage, appraisal, title, etc.)
• Experience with procedure documentation, audit, compliance and/or QA/QC testing
• Strong analytical and problem-solving abilities, with quick adaptation to new technologies, methodologies, and systems
• Excellent written and verbal communication skills
• PC skills including, but not limited to, MSWord and Outlook
• Thoroughness and careful attention to detail
• Relationship management skills

 Desired Skills:

• 1+ year of insurance experience
• Experience with Loan IQ, GSL, ACBS, EDR, LDR, CreditCenter
• Bachelor’s Degree or Work Experience Equivalent

Shift:

Hours Per Week: