- Provide strategic leadership in monitoring the Bank's Banking Program specifically oversight of fair lending and UDAAP risk programs.
- Set fair lending priorities for the bank along with LOB Leadership and manage the Fair Banking program and present accurate reporting - results to Board Risk Committee.
- Assess fair banking/lending risks by preparing periodic fair banking/lending risk assessments of the bank and applicable business units.
- Analyze Bank's Fair Banking Program performance. Monitor and test program elements for evidence of Redlining, Steering,
- Discrimination, Unfair, deceptive, or abusive acts or practices.
- Develop and conduct fair banking training to meet individual business unit and corporate requirements in conjunction with the Learning and Development Department.
- Provide regulatory oversight and guidance for the Home Mortgage Disclosure Act (HMDA) data collection.
- Oversee new and existing vendor risk assessments.
- Manage exam requirements including requested exam material and oversee Fair Lending Examinations conducted by the CFPB and OCC as well as Internal Audit.
- Administer and oversee fair lending statistical reviews and understand results.
- Assess residual compliance risk and document findings related to vulnerabilities. Create and develop action plans with appropriate measures to lower residual risk to an acceptable level.
- Perform fair lending due diligence for mergers and acquisitions.
- Assist and oversee the execution of quarterly/annual risk assessments (including fair lending) in the GRC system and manage and maintain regulatory compliance content.
- Review advertising and marketing of the bank and all communications to the public to ensure compliance with applicable laws and regulations.
- Monitor regulatory developments, research and trends and assist the CCO in taking appropriate action to ensure the bank complies with new or amended regulations.
- Participation in committees and lead sub-committees on Fair Lending and UDAAP as warranted.
- Maintain strong industry network and participate in industry organizations.
- Subject matter expertise in Fair Banking including fair lending, UDAAP, HMDA, ECOA, TISA, FHA, and CRA, and general knowledge of SCRA, FDCPA, FCRA.
- Advanced analytical skills to oversee modelling and reporting of risks associated with Fair Banking programs.
- Experience in utilizing industry tools such as Fair Lending Wiz.
- Advanced PC skills for Microsoft OfficeWord, Excel, and Outlook.
- Excellent written and verbal communication skills.
- Ability to conduct regression analysis and provide effective guidance on data analysis.
- Ability to analyze deposit product pricing and fees and determine fairness and effectiveness in meeting the needs of the community.
- Ability to analyze various compliance and fair lending problems or regulations and develop effective solutions in conjunction with the DCCO/CCOs.
- Ability to conduct research independently via written materials as well as electronic versions in an effective and professional manner.
- Ability to manage and complete projects with little or no supervision.
- Ability to manage direct reports effectively, provide coaching and guidance to attain individual as well as team goals annually.
- Bachelor's Degree in business or compliance related area, and minimum of 10 years both fair banking/lending compliance and regulatory compliance experience (experience time frames can run concurrently).
- Must be a Certified Regulatory Compliance Manager (CRCM).
- Institute of Certified Bankers/American Bankers Association (ICB/ABA) Undergraduate - Graduate Compliance School preferred.
- In addition to the above the following certification would be preferred as wellCertified Anti-Money Laundering Specialist (CAMS) preferred.
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Fair Banking Director - Morristown, United States - Valley National Bancorp
Description
Job OverviewThe Fair Banking Director partners with the Deputy Compliance Officer and Compliance Program Director in managing the risks associated with federal and state banking laws and regulations. The Fair Banking Officer is responsible for the continued development, implementation, maintenance, monitoring and reporting of the Bank's Fair Banking Program risk profile to both Senior Management and the Board Risk Committee of the Bank. This individual will also have management responsibility overseeing the work of junior compliance officers and will be expected to be able to conduct other non-fair lending and UDAAP regulatory compliance oversight, testing and analysis and present findings/recommendations to business line management. The ideal candidate will have experience in using industry tools such as Risk Exec by Assurity.
Job Description
Responsibilities include, but are not limited to:
Required Skills:
