Fair & Responsible Banking Compliance Officer - Consumer Compliance

Summary

The Fair & Responsible Banking Compliance Officer uses compliance monitoring reviews, data analytics, and statistical analyses to proactively identify compliance risks or gaps in controls and recommend corrective action. The role supports the organization's compliance with fair lending, consumer protection, and responsible banking laws and regulations.

Essential Duties And Responsibilities

• Assists with ongoing development and maintenance of a comprehensive Fair Lending and Responsible Banking Compliance Program.
• Maintains awareness of legislative and regulatory changes to ensure appropriate personnel are informed and changes are made to policies and procedures to comply with applicable regulatory requirements.
• Participates in ongoing risk-based compliance monitoring, testing, and risk assessments; evaluates compliance risks and effectiveness of corresponding controls; identifies and addresses gaps in controls, mitigates risks, and enhances compliance training.
• Collaborates with department or functional managers in developing and reviewing policies and procedures to ensure compliance with fair banking laws and regulations.
• Participates in new product development to ensure compliance with fair banking regulations.
• Reviews marketing materials for compliance with fair banking standards.
• Ensures prompt and adequate responses to consumer banking law complaints, including appropriate escalation of higher risk complaints.
• Coordinates with line of business and operations partners to ensure timely investigation, documentation, and preparation of responses to consumers and regulators.
• Prepares and presents periodic analysis and reports of consumer complaints.
• Performs fair lending reviews, analyses, and testing, including comparative file reviews, underwriting, redlining, and pricing, to investigate potential disparities and inconsistencies.
• Performs UDAAP compliance program reviews and testing.
• Prepares quality performance metric reports on fair lending for management and lending teams.
• Provides recommendations regarding opportunities for improvement, areas of concern, etc., and tracks appropriate Key Risk Indicators (KRIs)/Key Performance Indicators (KPIs).
• Assists in the administration of regulatory fair lending examinations and internal audit reviews; prepares responses; ensures deficiencies are addressed and corrective actions are effective and validated.
• Assists with preparing and presenting periodic reports to the Management Enterprise Risk Committee concerning the Bank's fair banking initiatives, complaint management, and ongoing compliance with Fair Banking regulations.
• Remains current and knowledgeable on all banking compliance and regulatory issues; attends seminars, workshops, and various trainings as necessary to maintain and expand compliance expertise.

Other Requirements

• Bachelor's degree in a related field or equivalent combination of education and experience, required.
• Minimum of 7 years' experience in banking or financial services required.
• Minimum of 3 years' experience with Fair Banking and/or Fair Lending, preferably with federal regulator and/or large institution, required.
• Industry certification in compliance/risk management (CRCM) preferred.
• Prior experience with Fair Banking or Fair Lending Analysis required, including reporting and presentation.
• Experience with CRA/HMDA or Fair Lending software is preferred.