What are the responsibilities and job description for the Fair Lending Data Analytics Officer position at WSFS Bank?
Description
At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.
The Fair Lending Data Analytics Officer (“FLDAO”) is responsible for assisting the Fair Lending Officer (“FLO") and the first line of defense in better understanding strengths and opportunities of the WSFS Fair Lending Program through data analytics. The incumbent will support the ongoing maturation of the WSFS Fair Lending Program in conformity with all applicable Federal and state laws and regulations. The FLDAO will collaborate and communicate with all levels of Associates including Senior leadership in the first, second, and third lines of defense.
Job Responsibilities :
- Assist the FLO in conducting / reviewing fair lending related risk assessments and creating and revising related policies.
- Monitor and enhance, as needed, the fair lending key risk indicators, on an as needed basis, from fair lending software to analyze data including but not limited to peer mortgage bank statistics, pricing, underwriting, etc.
- Maintain the “Fair Lending Scorecard” and communicate goals and results to applicable stakeholders within participating lines of business.
- Listen and consult, as needed, with key business stakeholders regarding their key performance drivers and remedial action plans.
- Assist the FLO in reviewing lending related marketing materials and marketing campaign audience segmentation parameters, if warranted.
- Review fair lending legal matters pertaining to fair lending (as warranted) to ensure systemic patterns are identified and a remediation plan is developed with the first line of defense if required.
- Assist the FLO in creating scope and test plans for select Ad-Hoc reviews and participate in fieldwork, as necessary.
- Identify and clearly document findings and partner with lines of business to ascertain and document management’s risk response and related remediation to findings.
- Assist FLO in performing annual Reasonably Expected Market Area (REMA) review.
- Identify peer group annually and perform annual gap analysis to propose fair lending goals.
- Assist FLO in reviewing and analyzing any Special Purpose Credit Programs at least annually, if warranted.
- Assist in any third-party service provider monitoring and testing reviews oversight, including but not limited to fair lending reviews such as redlining analysis.
- Assist FLO in preparation of the Fair Lending Working Group, Compliance, CRA and Fair Lending, and Risk Committee meeting package materials, including meeting minutes, as applicable.
- Facilitate the Fair Lending Work Group and attend and present at the Compliance and CRA and Fair Lending Compliance Committee meetings, if warranted.
- Seek to continually improve upon the repeatability, sustainability, and auditability of the Fair Lending Program.
- Provide support to various business lines in the form of providing regulatory guidance when requested.
- Assist FLO, as warranted, in reviewing complaints to identify potential regulatory implications, and for confirmed violations, conduct a root cause analysis to determine whether any systemic issue or broader remediation is in order.
- Assist the FLO with audits and examinations, as needed.
- Complete annual training as assigned in a timely manner and seek additional educational opportunities to continue to learn and grow.
- Participate in financial industry groups to keep abreast of regulatory updates and relevant industry topics.
- Maintain and engage in local community though activities such as, but not limited to, volunteerism, becoming a financial literacy champion, and serving as a Board of Director of an organization.
Minimum Qualifications :
WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at
WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.
