Senior Compliance Advisor - Community Reinvestment Act

Senior Compliance Advisor - Community Reinvestment Act

Country: United States of America

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 candidate will be proficient in performing qualitative analysis used to develop performance by utilizing internal and external resources.  Additionally, the candidate will develop, maintain and manage quantitative analysis required to assess overall performance of the Bank’s CRA Compliance program.  The ideal candidate will have experience in regulatory reporting and data maintenance requirements outlined in the CRA, have fluency in technology solutions used for overall CRA Compliance program management (e.g. CRAWiz and Kadince), and have experience with third-party vendor management.  

The Sr. Compliance Advisor 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. lending and investments).  The candidate will act as a support function with key business lines that have CRA responsibilities and provide advisory guidance as needed.  While this role is primarily focused on administering the CRA compliance program it is likely that the compliance advisor may support other consumer related compliance programs, as necessary.  The hybrid position will be located in either Boston, Miami, or Dallas area in office three days a week. 

Duties & Responsibilities:

• Monitors policies, procedures and practices to ensure adherence to the technical reporting and data maintenance requirements outlined in the CRA.

• Ensures compliance with the CRA data collection, reporting and disclosure requirements, including conducting CRA data integrity reviews amongst all lines of business with CRA responsibilities.

• Experience in managing third-party vendor relationships and executing business as usual quantitative reviews in regulatory reporting systems like CRAWiz, Rata Comply or RiskExec.

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

• Conducts routine compliance monitoring reviews for CRA and other associated regulations as needed.

• Provide comprehensive support for the First Line of Defense during the annual CRA Data Submission.

• Performs periodic reviews of the Banks assessment areas to ensure they are conforming with the regulatory requirements and are delineated appropriately.

• Maintains and makes periodic updates to the Bank’s Public File.

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

• Takes a lead role acting as a primary resource for team members and key stakeholders with CRA related questions, specifically around qualification criteria of Community Development Lending and other activities.

• Create training materials, presentations, and develop workshops that effectively communicate regulatory requirements and their practical implications for different departments and roles within the bank.

• Performs CRA self-assessment annually, update CRA performance context as needed and identifies potential risk areas / areas of opportunity through statistical analysis and review using CRA reporting software (CRAWiz)

• Identifies systemic procedural weaknesses and additional training requirements needed to ensure 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 consistency in policies and procedures.

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.