Senior Compliance Advisor - Community Reinvestment Act

Senior Compliance Advisor - Community Reinvestment Act

Country: United States of America

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The Sr. Compliance Advisor serves as a Community Reinvestment Act (CRA) subject matter expert to ensure the Bank is able to comply with regulatory and legal requirements outlined in the Community Reinvestment Act.  The Sr. Compliance Advisor is a second line function that will routinely monitor CRA-related activities to ensure compliance with the requirements outlined in the regulation.  The ideal candidate will be an expert in reviewing, qualifying and documenting Community Development Activities (e.g. community development loans).  The incumbent will act as a support matter expert and provide advisory to key business lines that have CRA responsibilities.  This role is primarily focused on administering the CRA compliance program.  There are other standard Compliance Management System related tasks that will be included in routine business as usual responsibilities.  While this position will be fulltime remote it will require limited travel (one to three times at most) during the year.

Duties & Responsibilities:

• Maintains a sound understanding of business strategy, business processes and associated risks with respect to business units who own CRA responsibilities.

• Assists in developing CRA performance context, making routine updates to the banks self-assessment as needed, and identifies potential risk areas / areas of opportunity through quantitative and qualitative market analysis.

• Performs routine with compliance monitoring and recommends improvements to business processes where applicable.

• Ensures compliance with the CRA data collection, reporting and disclosure requirements.  Additional tasks could include conducting periodic CRA data integrity reviews to ensure compliance with the regulatory requirements.

• Ensures all CRA and Community Development related activities are appropriately tracked, monitored and documented for reporting purposes.

• Collaborates with management and other key stakeholders to identify areas of opportunity for CRA activities to ensure the bank can meet a minimum of a Satisfactory enterprise CRA Rating.

• Acts as a subject matter expert and provides consulting or advisory services to business or other internal partners on an as needed basis.

• Provide assistance and actively participate in technology-related projects and other initiatives related to regulatory compliance.

• Responds to regulatory inquiries, third-party examiners and internal reviews like audits/compliance testing reviews.

• Collaborates across business units within the organization to ensure policies and procedures are representative of the requirements outlined in the regulation.

• Remain current on applicable laws, rules, standards/guidelines and industry practices related to CRA compliance and overall CRA program administration.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Qualifications:

Education:

• Bachelor’s degree or equivalent work experience in Business, Finance, or equivalent degree is required.

• Master’s degree in business, finance, or equivalent field preferred but not required.

• Certified Regulatory Compliance Manager (CRCM) preferred but not required.

Work Experience:

• 9+ Years in Compliance, Legal, Regulatory, or Financial Services.

• 5+ years working in a role focused on CRA Compliance. 

Skills and Abilities:

• Minimum of 5 years of CRA program administration with a s