VP/CRA & Fair Banking Officer
Golden Valley, MN, USA | MidWestOne Financial Group, Inc.
Industry:Banking / Investment Banking
Functions:Financial Services Professional
Job Description:79 people have viewed this job
The CRA and Fair Banking Officer is responsible for the strategic leadership and management of MidWestOne Bank’s CRA, Fair Lending, Fair Banking and UDAAP risk programs. Successful management includes engagement of team members to achieve strategic goals and framework sufficient for the size and complexity of a growing organization. This position will support the Senior Compliance Officer- Compliance Management in the execution of the compliance management program (CMS) in all aspects of consumer harm, CRA, fair lending, fair banking laws and UDAAP regulations. This position will analyze trends and emerging risk and recommend corresponding mitigation solutions.
Strategic leadership of programs including the following:
Regulatory change management
Emerging risk identification
Program development road map
Policy and procedure development and ongoing maintenance
Assessment area goals - monitoring, tracking and reporting
Recommend change to products, services, and delivery channel to ensure the Bank has products to service all customer demographics including Low-to-Moderate (“LMI”) and Majority Minority (“MM”) applicants and/or customers.
Coordinate and deliver program specific training
Committee leadership and sub-committee task force
Management and board reporting responsibilities
Maintain strong industry networking
Provide regulatory oversight and guidance for the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) data collection.
Manage and develop partnerships with organizations that serve various underserved groups, including but not limited to, LMI and MM throughout all the bank’s assessment areas.
New and existing vendor risk assessment
Analysis of program performance
Monitor and testing of program elements
Program software administration and development
Periodic risk assessment
Enterprise-wide performance context
Data analysis including
Demographic and geographic analysis
lending patterns, community development investments and community development services.
Branch strategy – acquisition, opening and closures
Analysis of products and processes
Change Management – product and pricing
Lead FL, CRA, HMDA and UDAAP audits and regulatory examinations, including advance preparation and follow up on findings and development of written responses.
Communication of risk and needed action plans
Coordination of community outreach
Creation and consulting on AA plan development and action items
Marketing coverage - fair lending and CRA
Change Management - Coordinate with lending lines of business to evaluate proposed business changes, including new or modified products/services, new or modified policies, procedures, processes, or systems
8-10 years of experience with CRA and Fair Lending program development/management in a mid-size or larger bank examined under CRA large bank criteria or state or federal regulatory agency
Experience with multiple assessment area and multi-state CRA and Fair Lending program management
Experience in large bank CRA examination management with ability to independently supply documentation, evidence, and substantiation of CRA and Fair Lending activities to auditors, examiners, and bank employees.
Proven and progressive experience in financial services compliance, including direct accountability for CRA and Fair Lending compliance functions
Experience with a major metropolitan MSA within the CRA Assessment area, preferred
Certified Regulatory Compliance Manager (CRCM) or ability to obtain within 12 months of hire
Ability to travel - approximately 10%
Management experience preferred
Minimum Knowledge and Skills
Working knowledge and analysis experience with CRA and/or fair lending software/RegTech solutions and regulatory requirements
Ability to manage and mitigate regulatory risk within the bank’s risk appetite.
Comprehensive understanding of Federal and state laws, regulations, and requirements pertaining to CRA, fair lending, UDAAP and consumer protection, including industry best practices
Knowledge of bank products and services with an emphasis on lending and underwriting requirements, specifically as it relates to LMI and MM individuals and neighborhoods.
Demonstrated ability to provide actionable intelligence to Sr. Management, Board of Directors and business line management to meet regulatory expectation while simultaneously meeting bank goals and objectives.
Extensive experience and familiarity with non-profit community development organizations and qualification factors for CRA.
Ability to think intuitively and strategically so that the department is enabled to anticipate, plan, and effectively execute to mitigate risk.
Ability to take decisive action and to motivate and develop others.
Must be able to evaluate and solve problems from multiple perspectives.
Advanced understanding of Fair Lending, CRA, and UDAAP regulatory guidance, expectations, and examination standards
Must be proactive in identifying potential concerns and have a sense of urgency in execution, remediation, follow-up, and final resolution.
High degree of self-motivation and ability to work independently
Attentive to deadlines and details. Ability to manage multiple complex projects simultaneously with effective delegation and time management.
Must have proven proficiency with Microsoft Office applications
OTHER SKILLS & QUALIFICATIONS
Strong collaboration/cooperation skills. Ability to negotiate and collaborate with others, initiate action, adapt to change, make complex decisions, and accept challenging assignments. Responds appropriately to demanding situations and takes ownership of mistakes
Facilitation skills in both training and meeting environments.
Proven project management skills and experience leading cross-functional compliance initiatives.
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