What are the responsibilities and job description for the Compliance Officer - Fair Lending position at Busey?
Position Summary
The Compliance Officer - Fair Lending is responsible for assisting in the development and execution of the Bank's Fair Lending Compliance Program, which consists of reviews and analyses that monitor for potential fair lending risks or control deficiencies aimed at mitigating potential fair lending risks throughout the Bank. Additionally, the Compliance Officer - Fair Lending will be primarily responsible for completing the Bank's annual Fair Lending Risk Assessment on behalf of the Fair and Responsible Banking Officer.
The Compliance Officer - Fair Lending is also responsible for implementing, enhancing, and managing the Bank's Compliance Complaint Management program by designing and administering activities towards strengthening this program, which aims to identify emerging risks posed to the Bank. This position will collaborate with various lines of business, including Retail, Mortgage, Commercial and Small Business lending areas to guide the development and implementation of the Bank's Complaint Management and Fair Lending Program. This position reports to the Bank's Fair and Responsible Banking Officer and will assist in additional activities that support the Bank's Fair and Responsible Banking Program.
The Compliance Officer - Fair Lending will assist the Fair and Responsible Banking Officer with quarterly reporting to the Executive Compliance Committee by preparing reports that keep senior management updated with relevant activity and updates related to Fair Lending Compliance and Complaints.
Duties & Responsibilities
Education & Experience
Knowledge of:
Ability to:
Education and Training:
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.
The Compliance Officer - Fair Lending is responsible for assisting in the development and execution of the Bank's Fair Lending Compliance Program, which consists of reviews and analyses that monitor for potential fair lending risks or control deficiencies aimed at mitigating potential fair lending risks throughout the Bank. Additionally, the Compliance Officer - Fair Lending will be primarily responsible for completing the Bank's annual Fair Lending Risk Assessment on behalf of the Fair and Responsible Banking Officer.
The Compliance Officer - Fair Lending is also responsible for implementing, enhancing, and managing the Bank's Compliance Complaint Management program by designing and administering activities towards strengthening this program, which aims to identify emerging risks posed to the Bank. This position will collaborate with various lines of business, including Retail, Mortgage, Commercial and Small Business lending areas to guide the development and implementation of the Bank's Complaint Management and Fair Lending Program. This position reports to the Bank's Fair and Responsible Banking Officer and will assist in additional activities that support the Bank's Fair and Responsible Banking Program.
The Compliance Officer - Fair Lending will assist the Fair and Responsible Banking Officer with quarterly reporting to the Executive Compliance Committee by preparing reports that keep senior management updated with relevant activity and updates related to Fair Lending Compliance and Complaints.
Duties & Responsibilities
- Assist in the development and execution of the Bank's Fair Lending Compliance Program by conducting scheduled reviews and analyses that monitor and/or test for potential fair lending risks or control deficiencies aimed at mitigating potential fair lending concerns throughout the Bank.
- Complete the Bank's Fair Lending Risk Assessment annually, to be approved by the Director of Fair and Responsible Banking.
- Implement and enhance the Bank's Compliance Complaints Management Program.
- Work with Senior Heads of Business around the Bank to manage the Bank's written responses to regulatory complaints received by consumers. Makes final decisions for complaints containing low or moderate risk; collaborates with the Fair and Responsible Banking Officer for complaints containing high risk.
- Manage and enhance the Bank's Fair Lending Key Risk Indicator (KRI) Program.
- Manage and enhance the Bank's Complaints Monitoring Key Risk Indicator (KRI) Program intended to identify complaint trends that may pose emerging risks to the Bank.
- Provide Management with periodic Complaint Analyses to assist them in identifying emerging risks related to various areas around the Bank.
- Prepare the department for internal audits and regulatory examinations of the Bank's Fair Lending Program and Complaints Management Program.
- Act as the key educational resource for all departments on complaint awareness and Fair Lending regulations.
- Assist in the creation of an annual Fair Lending Risk Management review plan.
- Assist in the execution of the annual Fair Lending Risk Management review plan.
- Assist in the execution of other activities that support the Bank's Fair and Responsible Banking Program.
Education & Experience
Knowledge of:
- Strong analytical skills, including creative problem-solving abilities
- Organizational skills including attention to detail and follow through
- Strong oral and written communication skills
Ability to:
- Willing to travel throughout the bank's regional footprint minimum 15%
- Multi-task and work independently
- Collaborate with key internal and external partners
- Perform duties under frequent time pressures
- Solve problems independently while applying logic and discretion
Education and Training:
- Certifications, Licensing, Education, Experience and Other Qualification or BA/BS degree minimum of 3 years of progressive community development lending, investment and service-related activities
- 5 years CRA-related efforts and initiatives experience or combination of equivalent education/experience
- Strong analytical, communication (written, verbal, presentation) skills and organization skills
- Proficient in Microsoft suite of products (Word, Excel, Outlook, etc.)
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.
