PennyMac Business Controls Specialist II in Plano, Texas

Requisition Number



Business Controls Specialist II


Retail Enterprise Support





Job Description

Assists in the development of a mortgage centric compliance program that contemplates current regulatory requirements and industry standards; further supports Correspondent Lending by aiding

in the development of policies and procedures for all Fulfillment functions. Acts as a liaison between the business and external counsel and provides legal recommendations. Prepares policy documents and partners with internal counterparts to promote consistency

across the enterprise.

Job Responsibilities:

  • Participate and present in the Enterprise Risk Management and Corporate Compliance Committee; partners with internal counterparts to ensure consistency; prepares monthly presentations.

  • Analyzes current Fulfillment processes and provides legal recommendations on policies & procedures related to all Fulfillment functions; completes research on investor requirements to support recommendations.

  • Researches case law to ensure current rulings do not impact PennyMac’s risk in the Fulfillment process; makes recommendations where appropriate.

  • Performs frequent review of competitor guidelines to ensure consistency with the market; identify differences and asses risk associated with alignment.

  • Acts as a liaison between the line of business and internal/external counsel in matters related to the Fulfillment process.

  • Assists in avoiding legal challenges by understanding current and proposed legislation, recommending new policies and procedures and ensuring Correspondent Lending is complying with legal requirements.

  • Provides counsel on downstream affects of origination decisions; provides cost benefit analysis and recommendations.

  • Partners with underwriting and appraisal to avoid material risk that could result in a repurchase requests from an investor.

  • Addresses operational risks and works to implement improvements across Fulfillment.

  • Collaborates with the Custodian Management team to ensure investor and warehouse requirements are met.

  • Assists in the development and management of policies & procedures for CLG Fulfillment.

  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.

  • Performs other related duties as required and assigned.

  • Demonstrates behaviors which are aligned with the organization’s desired culture and values.

Preferred Qualifications

Skills & Abilities:

  • Juris Doctor degree

  • Management Reporting, Developing Policies & Procedures, Dealing with Complexity, Problem Solving, Legal Compliance, Knowledge of Reg Z, Reg X & Dodd Frank.

  • Must be highly proficient in Excel and Word

  • Must be a team player with strong attention to detail and able to work independently

  • Proven track record at delivering timely and accurate information in a fast paced environment

  • Excellent critical thinking, problem solving, mathematical and sound judgment skills

  • Financial Services and, if possible,

mortgage industry experience preferred

  • Strong business acumen and ability to interface with executive management

Education & Experience:

  • Post-graduate degree or equivalent work experience

  • 5+ years