What are the responsibilities and job description for the FAIR BANKING ANALYST position at Stock Yards Bank and Trust?

Job Description

The Fair Banking Analyst is responsible for analysis and assessment of data related to laws and regulatory requirements of Fair Lending, Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA) and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). This role will provide second line of defense monitoring of data entered on the Banks core software, decision software and application software.

Responsibilities

Daily responsibilities include, but are not limited to, the following :

Coordinates and improves the monitoring and reporting process, including :

Monitor, ensure and maintain loan information quality and integrity to ensure regulatory compliance.
Identify and track systematic and / or operational exceptions regarding data collection for all loans; additionally, recommend and coordinate resolution efforts across all affected business lines.
Import Loan Application Registers (LAR’s) into reporting database software.
Prepare LAR files for submission to regulators on or after the required deadlines.
Prepare and develop an array of data reports on a scheduled basis for distribution to the applicable business units including (not limited to) for areas related to : Redlining, pricing disparities, disparate impact or treatment, Branch and ATM distributions, analysis of loan distribution patterns, analysis of peer and demographic data, market penetration, and monitoring and analysis of policy exceptions.
Perform regression analysis and comparative file reviews of loan data to identify outliers that would reflect a potential Fair Lending risk or violation.
Utilize resources to stay up to date with regulatory changes related to HMDA, CRA, Fair Lending, UDAAP, ECOA, Fair Lending and Section 1071 of the Dodd Frank Act.
Participate in new product development and work closely with Compliance Advisors and applicable business units in creating product related risk assessments.
Assist the Fair Banking Officer with creating a Fair Lending Risk assessment.
Works closely with Compliance Advisors and the applicable Business Units to assist in the development of policies and procedures as a result of identified findings from monitoring exceptions.
Investigates and tracks customer complaints for potential Fair Lending and UDAAP elements using the Bank’s complaint tracking system.
Works with assigned business line(s) and Marketing to review advertisements to minimize the risks in areas related to Fair Lending, Fair Banking and UDAAP.

Other Functions :

Assist with the communication of compliance initiatives to partners throughout the bank, including contributing to the departmental newsletter.

Assist in the development and communication of regulatory policies and procedures to management for review and approval.

Assist with regulatory compliance training.

Maintain understanding of the bank’s products, services, geographic locations, and the potential risks associated with those activities.

Assist with coordination of federal and / or state regulatory agency examiners during examinations. Furnish examiners with requested

Conduct special projects as the need arises.

Conduct other compliance reviews as assigned.

Assist with merger and acquisition projects.

Perform other duties, as assigned.

Job Requirements

The successful candidate will have the following qualifications :

BS / BA Business or Related Field (or substitute work experience)

Minimum of 1-3 years of experience in banking operations with knowledge of state and federal regulatory requirements with concentration in Consumer Compliance / Fair Banking.

Strong knowledge of State and Federal regulatory requirements.

Strong knowledge of banking principles and operations.

Strong organizational and time management skills.

Ability to function in a multi-task environment.

Excellent verbal and written communication skills required; must demonstrate ability to tactfully communicate with and gain respect of all employees.

Extensive knowledge of bank policies and procedures.

Strong analytical and critical thinking skills.

Ability to define problems and propose solutions.

Strong PC skills (Excel and Word)

Proficiency with RiskExec (or other regulatory reporting software) preferred, but not required.

Ability to read, analyze and interpret government regulations, trade journals and legal documents.

CRCM certification (or similar) preferred, but not required

Benefits

401(k) with a company match of up to 6%

ESOP employer match

Medical insurance

Dental insurance

Vision insurance

Cancer / Disease insurance

Accident insurance

Flexible Spending Accounts

Health Savings Accounts

Bank paid Life / AD& D insurance

Voluntary Life / AD&D insurance

Bank paid Short-Term and Long-Term Disability insurance

Employee Stock Purchase Plan

Employee Assistance Program

Physical Requirements

The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This position requires sitting the majority of the time with limited walking and standing. All work occurs indoors and within regular working hours. The noise level in the work environment is usually moderate.

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FAIR BANKING ANALYST

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