Deputy Superintendent for Mortgage Banking, (Director Financial Services Programs 3, NS)

The New York State Department of Financial Services seeks to build an equitable, transparent, and resilient financial system that benefits individuals and supports business. Through engagement, data-driven regulation and policy, and operational excellence, the Department and its employees are responsible for empowering consumers and protecting them from financial harm; ensuring the health of the entities we regulate; driving economic growth in New York through responsible innovation; and preserving the stability of the global financial system.

The Department of Financial Services is seeking candidates for the position of Deputy Superintendent for Mortgage Banking within the Banking Division. The incumbent will report directly to the Senior Deputy Superintendent for Non-Bank Supervision. Duties include, but are not limited to, the following:

• Oversees the day-to-day operation of the Mortgage Banking business unit, including responsibility for managing the review and processing of a large volume of applications;
• Establishes and oversees maintenance of policies and procedures governing all facets of the Mortgage Banking administrative and supervisory functions;
• Works with the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators in developing policies and procedures and guidance surrounding the Nationwide Multistate Licensing system (“NMLS”) functionality and record retention;
• Participates in regulatory or disciplinary actions, as appropriate, involving regulated and non-regulated institutions, including monitoring entities under regulatory or enforcement actions;
• Develops and implements mortgage banking safety and soundness protocols, risk analysis methodology, offsite supervisory processes, prudential capital and liquidity standards, resolution planning guidelines, and enhanced monitoring and onsite field examination functions;
• Coordinates examinations, including multistate mortgage examinations and multistate enforcement actions, including through the CSBS’s Multistate Mortgage Committee;
• Drafts industry letters or other guidance documents, as appropriate, informing regulated entities of legislative, regulatory, procedural, risk-related and other relevant developments and expectations;
• Assists in the in-house development and maintenance of databases to manage Real Estate Finance licensing, examination, enforcement actions, quarterly and annual regulatory filing functions, and statutorily mandated registration systems;
• Oversees and manages Mortgage Assistance Unit, responsible for maintaining the registry of the vacant and abandoned properties maintained by the Department and for working with banks and mortgage companies to address mortgage-related issues affecting New Yorkers;
• Monitors and coordinates the transfer of servicing portfolios for mortgage servicers whose licenses have been suspended, revoked, or have otherwise been ordered to transfer their servicing portfolios;
• Keeps informed on legal and regulatory developments as they impact the institutions under the Real Estate Finance business unit’s supervision;
• Participates in the development of appropriate training for personnel within Mortgage Banking;
• Regularly advises the Superintendent and the Executive Deputy Superintendent for Banking on significant matters falling within the scope of assigned responsibilities, including making necessary recommendations;
• Participates in external conferences to discuss, among other things, legislative and regulatory issues, examination processes, systems and technology related guidance, and best practices across the spectrum of internal controls and compliance management;
• Coordinates special examinations with the Department of State to identify potential abusive lending practices at regulated mortgage brokers or bankers that simultaneously hold real estate related licenses;
• Participates, as a representative of the Department, on interagency committees with New York State housing finance agencies;
• Liaises with non-profit and community groups on issues relating to foreclosure, mortgage servicing, and mortgage origination laws and regulations, consumer disclosure, and halting predatory or deceptive lending practices;
• Assists in identifying and remediating gaps in regulatory oversight of mortgage lending and servicing and unlicensed lending and servicing activity;
• Travel may be required up to 20%; and
• Other duties as assigned.

Minimum Qualifications

Preferred Qualifications

• 14 years of specialized work experience, which includes 5 years in the banking and financial services industry

o Substitutions: Associate’s degree may substitute for two years of specialized experience; bachelor’s degree may substitute for four years of specialized experience; master’s degree may substitute for five years of specialized experience; J.D. may substitute for six years of specialized experience; Ph.D. may substitute for seven years of specialized experience.

• 5 years of managerial experience, including a demonstrated ability to supervise large teams.
• Familiarity with financial services regulation and New York Banking and Financial Services Laws.
• Strong analytical and writing skills.

Appointment Method:

This is an appointment to a position in the exempt jurisdictional class. As such, the incumbent of this position would serve at the pleasure of the appointing authority.