Job Overview:
This position is responsible for developing, managing, and advancing the Fair Lending Risk-Based (FRB) Program by leading a team to execute compliance initiatives.
The role requires broad experience in Fair Lending and FRB, with a strong focus on applying laws and regulations using advanced statistical and analytical tools.
The Director of Compliance will design and oversee a comprehensive FRB Analytics program, focusing on compliance testing related to Fair Lending, UDAAP, HMDA, CRA, and other regulatory expectations.
The successful candidate will be responsible for communicating results clearly to a variety of audiences, including the Board of Directors, Executives, and Regulators, while ensuring high-quality reporting and deliverables.
Responsibilities:
Lead a team of compliance professionals to manage compliance risk across the organization.
Provide strategic guidance to business leaders on compliance risks.
Conduct compliance risk assessments and monitor business units' compliance risk controls.
Identify and address risks and issues, ensuring timely resolution.
Develop and maintain policies and procedures to align with regulatory requirements.
Perform or oversee statistical analysis, communicating results and actionable recommendations.
Prepare reports and deliver updates to the Board of Directors and other relevant committees.
Stay current on new and pending regulations and ensure effective change management processes.
Analyze complex datasets to identify risk trends and develop mitigation strategies.
Serve as a risk manager, ensuring all activities align with the organization's risk management program.
Qualifications: Bachelor's degree required; advanced degree preferred.
10+ years of related experience, with a focus on compliance and regulatory frameworks.
Proven management experience in compliance risk management programs.
In-depth knowledge of federal and state consumer protection laws and banking regulations.
Strong analytical, communication, and leadership skills.
Proficient in MS Word, Excel, and PowerPoint.
Preferred Certifications: Certified Regulatory Compliance Manager (CRCM) designation preferred.
Role Requirements Experience: Fair lending background is essential.
Previous candidates in this role, like the 15-year veteran Fair Lending Officer, underscore the importance of this experience.
Executive communication skills, as the role involves regular interaction with senior leadership.
Leadership and Team Structure: The position supervises three to four compliance specialists and collaborates with other compliance directors.
This role reports to the Managing Director of Corporate Compliance and indirectly to higher executives, emphasizing the need for leadership in fair lending initiatives.