VP Fair Lending and CRA Officer (Remote)

Job Location US-SD-Sioux Falls
Type
Full Time

Overview

Location:

***This can be a remote position located in Iowa, Kansas, Nebraska, North Dakota, Minnesota, Missouri or South Dakota. Travel to Sioux Falls, South Dakota may be required up to 50% of the time.***

 

Oversee and lead the execution of the Bank’s Fair Lending (and UDAAP) Program to ensure compliance with all Fair Lending laws, regulations and guidance.  This position will also be responsible for ensuring the Bank maintains a sound Fair Lending program with active oversight of operational risk, adequate policies and procedures, and strong MIS (management information system) for measuring, monitoring and risk reporting. Additionally, Oversee and lead the execution of the Bank’s Community Reinvestment Act (CRA) Program through continuous monitoring of lending, investment, and service programs in conjunctions with the lines of business leaders, the Chief Investment Officer and the CRA Committee. 

Responsibilities

Essential Functions  

  1. Serves as Bank’s subject matter expert (SME) in Fair Lending/UDAAP laws and regulations
  2. Manages Fair Lending compliance efforts throughout the Bank and ensure that the Bank’s Fair Lending program is risk-based and appropriate for the size and complexity of the Bank.
  3. Develops, implement, and execute the annual Fair Lending plan which includes policy and procedure reviews, training, testing and monitoring activities (e.g., statistical analysis, comparative file reviews, etc.), issues management and reporting.
  4. Works with Fintech Solutions and various Program Partners to ensure that the appropriate expectations related to mitigating Fair Lending risk are established including involvement in the execution of the annual Fair Lending plan.
  5. Conducts an annual risk assessment that evaluates the level and direction of the Bank’s Fair Lending risk based on the consumer lending products.
  6. Prepares periodic reporting to Executive Management and/or the Board of Directors.
  7. Reviews credit policies/procedures, loan operation procedures, pricing and marketing strategies, new and modified lending products, business changes and services performed by third parties to proactively identify and Fair Lending issues.
  8. Attends training programs on Fair Lending to remain current with changing regulations and requirement and effectively implement any new and changing regulatory requirements.
  9. Oversees the execution of the Bank’s CRA Strategic Plan including responsibility for the community development lending and investment strategy and deployment, community relations, and philanthropic giving to support the Bank’s Community Reinvestment Act strategy.
  10. Develops, updates, and implements the Bank’s CRA Strategic Plan inclusive of all business lines
  11. Chairs the CRA Committee to ensure CRA objectives are communicated and executed upon.
  12. Maintains regulatory relationship with the FDIC for CRA activities including CRA examination management.
  13. Develops, updates, and maintains the Bank’s CRA policies, procedures, and governance documents. Ensures risk-based controls are in place to ensure the accuracy of CRA reporting and that CRA objectives are achieved.
  14. Maintains the Bank’s CRA Public Files as required by the Community Reinvestment Act.
  15. Carries out day to day community development/CRA programs and activities, including documentation, analysis and reporting.
  16. Conducts annual Assessment Area review and make recommendation to Bank Management about Bank lending, investing and support of community organizations
  17. Assists in the development of new products to ensure that the Banks lending programs, investment strategies, deposit products and other financial services are designed to further the goals and objectives of the Bank’s CRA Program
  18. Reviews and verifies HMDA Lending Activity Report (LAR) and CRA Loan Register (LR) lending and geocoding information for annual reporting purposes.
  19. Collaborates with Chief Financial Officer, Chief Operating Officer, Head of Consumer Compliance, and Chief Investment Officer, and Chief Financial Officer to review, approve and document lending, donation and investment recommendations to the CRA Committee and Bank management.
  20. Presents updated reporting of CRA progress and compliance to Bank management and the Board of Directors
  21. Prepares and presents periodic CRA & Fair Lending training to applicable bank personnel and the Board of Directors to ensure they have a good understanding of both CRA and Ffair Lending laws applicable to their position
  22. Keeps abreast of all rules/regulations pertaining to CRA and industry trends and develop a library of CRA resources. Collects and distributes information related to the CRA and other topical subjects to appropriate staff. Provides informational assistance to loan officers, account representatives, management, auditors, and community groups.
  23. Performs other duties as assigned.

Qualifications

Education/Experience Requirements

  • Undergraduate degree in business, accounting, economics, pre-law or a related field or an equivalent combination of training and experience.
  • 8-10 years of financial institutions consumer compliance experience, including specific experience in Fair Lending and managing Fair Lending regulatory examinations.

Preferred Requirements

  • Expert knowledge of Fair Lending laws, rules and regulations as well as the regulatory guidance/examination processes.
  • Proven ability to collaborate with stakeholders to design, enhance, and implement both preventative and detective controls.
  • Highly motivated with the ability to be proactive, take initiative, and carefully monitor, follow through and complete responsibilities in a professional and timely manner.
  • Strong analytical skills, with experience conducting and understanding data/statistical analyses.
  • Experience with specialized Fair Lending software and analytic tools such as CRA/Fair Lending Wiz.
  • Ability to assess impact or potential impact of change initiatives based on government guidelines and lending regulations.
  • Demonstrate ongoing community reinvestment act professional training.
  • CRA Strategic Plan implementation experience.
  • Community development experience and in-market currently or willingness to relocate.
  • Passionate, strong written and oral communication skills.
  • Extensive knowledge of Federal consumer protection laws and regulations.
  • A team player able to work effectively in a matrixed, multi-tasking environment.
  • Proficient in Microsoft Office suite (e.g. Excel, PowerPoint, Word, Outlook).

Background & EEO Statement

Working at The Bancorp Bank, N.A. and Benefits Information: click here

 

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.

 

The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender, identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

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