Fair Lending Banking Specialist

Fair Lending Banking Specialist

We are seeking a Fair Lending Banking Specialist to take charge of developing, executing, and overseeing the bank's Fair Lending Compliance Program. This role is essential for ensuring the bank meets fair lending regulatory obligations and maintains a prudent risk profile. The specialist will collaborate with the board, senior management, and staff to address emerging fair lending concerns and ensure preparedness for regulatory examinations. The successful candidate will liaise with internal and external stakeholders to enhance and sustain the Fair Lending Program.

Key Responsibilities

• Oversee the bank's Fair Lending compliance initiatives, ensuring a risk-based approach suitable for the bank's size and complexity.
• Collaborate with senior management to identify and manage fair lending risks across the institution.
• Create and implement comprehensive fair lending risk reporting tools, including key risk indicators.
• Develop and implement the bank's annual fair lending plan, defining the scope and frequency of monitoring activities.
• Conduct periodic fair lending reviews, including comparative file assessments, marketing analysis, and redlining checks; ensure appropriate remediation and maintain robust documentation.
• Perform annual risk assessments to evaluate the bank's fair lending risk in areas such as underwriting, pricing, marketing, and redlining.
• Prepare clear, concise reports outlining root causes and necessary corrective actions; compile quarterly reports for the Board of Directors.
• Collaborate with the CRA Officer on lending risk matters.
• Manage the fair lending training program for employees, senior management, and the Board of Directors, including tracking training completion and developing customized training modules as needed.
• Coordinate audit and regulatory examinations, including pre-exam preparations, issue follow-ups, and developing written responses.
• Maintain and develop written policies and procedures for the Fair Lending Program.
• Review credit policies, loan operations, pricing strategies, marketing tactics, new lending products, business changes, and third-party services to proactively identify fair lending concerns.
• Stay informed on fair lending regulations and requirements; disseminate updates to bank personnel and lead compliance changes as necessary.
• Manage special projects and perform other duties as assigned.
• Maintain up-to-date knowledge of bank policies and compliance with all relevant federal and state laws.
• Promote a culture of compliance, emphasizing the importance of internal controls and high ethical standards.

Education & Experience

• Minimum of 5 years of experience in financial institutional consumer compliance, with specific expertise in fair lending and regulatory examinations.
• Thorough experience in fair lending risk assessments, comparative file reviews, redlining analysis, and monitoring activities.
• Expert knowledge of fair lending laws, regulations, and regulatory guidance/examination processes.
• Proven ability to collaborate with management to design and implement preventative and detective controls.
• Ability to lead a team in developing and executing fair lending strategies and managing multiple complex projects and deadlines.
• Highly motivated, proactive, and capable of monitoring and completing responsibilities professionally and timely.
• Strong organizational and time management skills, with demonstrated ability to work independently and meet deadlines.
• Excellent analytical skills with experience in data/statistical analysis.
• Proven ability to train and instruct others effectively in various settings.
• Excellent interpersonal and communication skills, with the ability to interact effectively with all levels of the organization.
• Exceptional verbal and written communication skills, including report development and presentation at the board level.
• Thorough knowledge of bank branch operations and lending processes.

Compensation & Benefits

We provide medical and dental benefits, life insurance, a 401K plan, paid vacation, personal, and sick days. The compensation range for this position is between $125-135k depending on experience.