Senior Vice President Community Development & CRA Officer

Our esteemed client in Fair Lawn, NJ is seeking an experienced and dynamic Senior Vice President, Community Development and CRA Officer to join their team. Ensuring compliance with banking regulations established as part of the Community Reinvestment Act (CRA). Analyzes and reports required data to the federal government and examiners. Initiates, prepares, and executes grant applications through the Federal Home Loan Bank. Regularly reviews progress in Lending, Investment, and Service Test as it relates to CRA. Develops new business and maintains effective relationships with community leaders in targeted markets. Chairs and prepares for CRA Committee Meetings.

Job Responsibilities:

Community Reinvestment Act (CRA)

• Maintains proficiency in the use of the compliance software to track and evaluate all HMDA lending, small business lending, and community development activity.
• Conducts quarterly analysis to monitor and present on CRA performance and compliance.
• Conducts self-exams to determine the level of compliance related to lending, service, and investment performance.
• Researches and recommends special lending programs for housing, construction, purchase, rehabilitation, small and minority businesses, and industrial development, particularly in low/moderate areas.
• Develops and monitors the CRA strategy.
• Annually reports HMDA and Small Business data to the federal government.
• Chairs the CRA Committee Meetings.
• Prepares CRA reports and presents them directly to the Board of Directors on a quarterly basis.
• Annually updates the Performance Context with the latest market conditions and trends.
• Serves as a direct liaison to OCC CRA examiners and provides direct assistance as required. Ensures the CRA examination is carried out in a timely and accurate manner.

Community Development

• Develops new business in community development target markets.
• Represents Ascendo Resources at various civic and community functions for the purpose of enhancing the company’s image in the community.
• Identifies opportunities to provide low-cost housing in low to moderate income areas through special grants and low-rate loan programs.
• Works with Commercial Lenders, Business Development Officers, Branch staff, and others to increase visibility in targeted markets.
• Oversees the Ascendo Resources employee volunteer program for community events.
• Promotes financial literacy throughout the organization.
• Maintains records and documentation on all community development activities and programs.
• Analyzes the addition of proposed branch locations and the impact of growth on assessment areas.

Regulatory/Industry Knowledge and Training

• Keeps up to date with changes in federal and state banking laws and regulations pertaining to CRA.
• Reviews and interprets changes in CRA laws and regulations and keeps management informed. Ensures changes are implemented accurately and on a timely basis.
• Ensures personnel are adequately trained and aware of applicable laws and regulations. Assists the Training Department with the development of training curriculums.

Oversight of Staff and Resources

• Supervises team members supporting the development and implementation of the CRA program.
• Establishes clear goals for staff, ensuring accountability for performance.
• Promotes a culture of continuous improvement, professional development, and diversity.
• Exercises the usual authority of a Department Head concerning staffing, performance evaluations, salary recommendations, promotions, demotions, transfers, and terminations. Communicates performance to executive management.

Grant Program Management

• Works directly with Federal Home Loan Bank and prospective grantees to complete application packages for submission. Conducts periodic reviews on outstanding grants as required.
• Measures the performance of down payment and closing cost assistance programs and makes recommendations for changes as needed.

Other Responsibilities

• Performs other job-related duties as assigned.

Requirements:

• Bachelor’s degree and ten or more years CRA and community development experience or equivalent combination of education and experience
• Thorough knowledge of federal regulations pertaining to CRA
• Experience in the preparation and execution of a CRA Strategic Plan
• Experience with public sector financing programs that support CRA lending and investment products and understanding of the benefits of the public-private partnership
• Experience in evaluating credit facilities to ensure CRA eligibility
• Ability to travel to and participate in frequent civic and community functions and events within the metropolitan area
• Strong verbal/written communication and interpersonal skills
• Strong Microsoft Word, Excel, and PowerPoint skills
• Exercise sound judgment, leadership, multi-tasking, and problem-solving skills
• Must be a self-starter and able to work independently
• Must be well-organized, accurate, and have a high attention to detail

Ascendo is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability

Featured benefits

• Medical insurance
• Vision insurance
• Dental insurance
• 401(k)