The Fair Lending and CRA Analytics Officer possess strong working knowledge of all relevant state and federal fair lending laws and regulations and advise the Consumer Compliance Officer and the Community Reinvestment Act Officer of emerging compliance requirements as well as analyzing application and origination performance in the context of minority participation and penetration of majority-minority and low- to moderate-income tracts.
This position will primarily be a remote working role with ability to come into the office as needed (Berwyn, PA, Chestnut Hill, PA, Bryn Mawr, PA or Wayne, PA).
- Perform fair lending analyses utilizing basic statistical techniques (e.g., mean; standard deviations; statistical significance) available within the data analytics platform (i.e., Trupoint).
- Perform comparative file reviews to determine whether policies and procedures were followed; identify non-compliance with policy, negative trends, and/or data integrity issues that may contribute to heightened fair lending risk. Recommend internal control improvements and identify specific instances where remediation may be required.
- Develop communications, quarterly performance reports, and presentations for the CRA and Fair Lending Committee, Compliance Committee, Enterprise Risk Management Committee, Risk Management Committee of the Board, and all levels of management.
- Support the Consumer Compliance Officer, the Community Reinvestment Act Officer, and the Chief Risk Officer with Board presentations articulating the Company’s level of compliance risk specific to fair lending and community reinvestment lending risks.
- Materially assist in executing annual fair lending risk assessments and CRA self-assessments, in a meaningful, data-driven manner.
- Develop, communicate to management, and monitor corrective action plans, as applicable.
- Assist Consumer Compliance Officer (Fair Lending Officer) and/or other Compliance Analysts and the Bank’s Corporate Support Areas on HMDA and CRA data collection, validation, and Community Development analysis activities as applicable, including the performing data quality assurance reviews to ensure the accuracy and completeness of data sets.
- Perform compliance monitoring and testing reviews to substantiate bank compliance with ECOA, Regulation B, the Fair Housing Act, and HMDA, Regulation C.
- Review marketing materials, and new products and services to address any potential fair lending risks.
- Prepare educational presentations and present to Bank personnel and the Board of Directors addressing technical requirements in support of fair lending compliance and Community Reinvestment Act requirements.
- Assist with other projects as assigned.
- Bachelor’s degree from an accredited college or university or commensurate work experience is required
- 5 – 7 years of experience in the financial services industry is required
- Demonstrated understanding of fair lending laws and regulations is required as well as a solid understanding of the Community Reinvestment Act. Specifically, In-depth knowledge of:
- The Equal Credit Opportunity Act as implemented by Regulation B.
- Truth in Lending Act as implemented by Regulation Z.
- Home Mortgage Disclosure Act as implemented by Regulation C
- Strong analytics skills are required
- General understanding of statistics is required to effectively utilize the Bank’s technology
- Ability to distill complex data sets into meaningful information to management is required
- Previous consumer compliance experience is strongly preferred – why preferred and not required?
- Previous use of Fair Lending Whiz, Marquis Centrax, or similar fair lending software is strongly preferred
- Strong oral and written presentation skills are preferred