Fair Lending Officer (Banking)
|Pine Bluff, Arkansas - United States
$75,000.00 - $120,000.00 - US Dollars - Yearly
WHY IS THIS A GREAT OPPORTUNITY?
Fair Lending Officer (Banking)
Our client bank needs your expertise in compliance responsibilities and regulatory subject matter such as CRA, HMDA, ECOA, FHA, and Fair Lending laws will provide added support to our compliance team. Your specialized experience in Fair Lending Compliance will aid the Chief Compliance Officer in meeting the Bank’s Fair Lending key objectives.
Fair Lending Officer (Banking) - Position Requirements:
- This position requires compliance responsibility and subject matter expertise for the areas of CRA, HMDA, ECOA, FHA, Truth in Lending and Fair Credit Reporting Act. CRA Fair Lending Director is responsible for all Fair Lending program development, compliance training and regulatory submission in the areas of Fair Lending. Assists the Chief Compliance Officer in meeting the Banks Fair Lending Objectives.
- Assist in the coordination of internal audit and regulatory examinations.
- Provide training to other staff members on CRA and HMDA and the usage of various software applications used for CRA/HMDA compliance.
- Assess and investigate fair lending risks posed by business unit’s data.
- Reply and aid business unit questions and situations on fair lending risks. Perform follow up on open compliance issues and observations.
- Assess, develop and provide fair lending training to meet individual business unit and corporate requirements.
- Administer fair lending statistical reviews and understand results.
- Assess fair lending risks by preparing periodic fair lending risk assessments of the bank and applicable business units.
- Evaluate data from loan files or from officer interviews to assess whether an applicant was treated in a manner consistent with articulated standards, including whether the applicant received favorable treatment compared to other similarly situated applicants.
- Assess residual compliance risk and document findings related to vulnerabilities. Create action plans with appropriate measures to lower residual risk to an acceptable level.
- Accountable for ensuring the data integrity of CRA and HDMA data for regulatory filing, including, but not limited to scrubbing sample loan files and/or setting up tools for validity and edit checks.
- Complete periodic CRA performance evaluations and HDMA self-assessments, provide Compliance Management with timely, meaningful information regarding level of quality maintained, trends and risks identified and provide recommendations for improvement.
- Advance written procedures for the Bank’s compliance with HMDA and CRA.
Maintain Community Development loan files and interact with lending staff and senior management to present new CDL opportunities.
- Act as a liaison for the Compliance Department in system changes and advise on its impact on regulatory and compliance requirements.
- Participate in various committees and provide compliance support as required.
- Develop written reports and advise the Management and Board level committees and Board of Directors, Executive management, Chief Compliance Officer and Business unit managers concerning key issues recognized.
- Coordinate bank wide compliance with CRA/HMDA. Effectively interact with other business units to develop automated processes for the accurate and efficient gathering and scouring of HMDA and CRA data that would sustain loan growth.
- Perform special projects as assigned by the Chief Compliance Officer.
- Bachelor’s Degree
- Ten or more years of related experience required.
- Thorough knowledge of all applicable federal and state banking laws and regulations is required.
- Familiarity with corporate compliance programs, including risk assessments, testing and monitoring, training, policy/procedure development, and implementation of new products and business processes.
- Experience with Fair Lending Wiz software strongly preferred.
University - Bachelor's Degree/3-4 Year Degree