Our client, a leading bank, is looking for a VP, Fair Lending to join their growing team. This role can be 100% remote.
15th September, 2021
Location: 100% remote
Job Description & Synthesis
The VP, Fair Lending is tasked with maintaining and enhancing the Fair Lending compliance program, ensuring that all departments comply with applicable fair lending laws and regulations and have controls in place to mitigate fair lending risk. This role, specifically, is responsible for establishing processes and procedures to perform periodic analysis of the Bank's lending portfolios by identifying data requirements, working with analysts and lines of business on data integrity, regression analysis, performing reviews of outliers and comparative files, identifying, implementing corrective actions or procedural changes with business areas, and developing a risk-based approach to fair lending analytics.
Supervise the fair lending compliance function and create metrics for adherence to guidelines by business units.
Communicate any corrective actions or risk mitigation measures for implementation and develop processes to track, report, and validate corrective actions.
Perform annual fair lending risk assessments and report results/recommendations to the team.
Coordinate team member participation for the cyclical fair lending regulatory examination.
Supervise other employees in the department.
Manage fair lending review and data.
Provide input to statistical analysis of mortgage, consumer, small business, and/or commercial loans to identify significant variances to fair lending compliance regulations and standards.
Ensure federal and state-specific criteria for disclosures are executed properly.
Review and document procedures to ensure secure maintenance and quality of records.
Maintain an understanding of the status and document changes to regulatory guidelines.
Coordinate and develop policies and procedures designed to ensure the highest level of ethical conduct.
Work collaboratively with all departments by providing compliance guidance and direction for continued best practices.
Maintain proficiency in software tools necessary to complete requisite analysis and collaborate with software vendors as needed.
Comply fully with all Bank Compliance policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
Performs other duties as assigned or requested.
Completes all required training.
Minimum 7 years experience working with Federal and State lending and compliance regulatory matters.
Minimum 5 years in a banking or lending environment. Minimum 3 years experience using fair lending software/specialty programs as well as some industry standard mortgage software.
College degree preferred. Advanced knowledge of fair lending and banking compliance laws and regulations.
Proficiency in analyzing diverse business functions and processes to identify key risks and demonstrated success with implementing control improvement recommendations.
Ability to interact with federal regulatory agencies.
Ability to operate effectively in a fast-paced environment.
Excellent organizational and analytical skills.
Ability to communicate clearly and professionally with all levels of an organization.
Excellent written and verbal communications skills.
Effective interpersonal skills.
Excellent time management skills and be accustomed to working with deadlines.