Digital Federal Credit Union hiring Fair and Responsible Banking Manager - Compliance, Marlboro, MA, Hybrid, Full-Time in Marlborough, MA | LinkedIn (2024)
What You’ll DoSummary/Objective:The Fair and Responsible Banking Officer/Manager is responsible for working as a senior member of the Compliance Department to develop, implement, maintain, and monitor DCU’s Fair and Responsible Banking Program, along with strategizing with business units to ensure DCU’s compliance with relevant regulations and best practices. Responsible for overseeing Compliance Officer(s) and/or Senior Compliance Officer(s) working on DCU’s Fair and Responsible Banking Program.
Essential Functions:Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Take a leading second-line of defense role in developing, maintaining, and implementing DCU’s Fair and Responsible Banking Program (targeted at compliance with the Fair Housing Act (FHA), Equal Credit Opportunity Act (ECOA), including the Small Business Lending Rule (Section 1071), Home Mortgage Disclosure Act (HMDA), the prohibition on Unfair, Deceptive, and Abusive Acts and Practices (UDAAP), and other laws and regulations falling within the ambit of “fair and responsible banking.”).
Support the enhancement of fair and responsible banking data analytics:
Develop and implement data analytics and reporting of demographic information related to DCU members, applicants, and borrowers to provide critical insight for leadership.
Develop, implement, and assess regression, redlining, and other fair and responsible banking
Manage, coordinate, and make initial root cause determinations regarding anomalous results.
Create, analyze, and communicate various fair and responsible banking dashboard reporting and results and, facilitate observations/recommendations to key stakeholders.
Drive the development, standardization, and enhancement of peer identification and data extraction (via public and other available sources), data mining/analyses, interpretation of fair and responsible banking analysis results, determination of selection criteria for match pairs/sample sizes or other files for review.
Assist in the selection of appropriate analytics software and develop standardized end-to-end processes for using this software.
Support the enhancement of all areas of the Compliance Management System relevant to the Fair Banking Program:
Complaints: Review and analyze complaint data to identify fair and responsible banking trends and opportunities for improved processes.
Change Management: Participate in new or changed product and service development, as well as projects covering relevant technology changes, and provide input regarding fair and responsible banking concerns. Monitor and review updates to relevant laws and regulations. Create and provide standardized updates on changes in the law to internal stakeholders, including proactive identification and communication of associated changes in fair and responsible banking risks.
Monitoring and Testing: Partner with Compliance team members during scheduled compliance reviews to ensure fair banking concerns are appropriately addressed. Provide guidance and expertise during reviews relating to fair and responsible banking best practices.
Issue Management: Work with Management to resolve fair banking issues and deficiencies noted in compliance reviews, risk assessments, internal audits, and regulatory examinations. Review and validate resolution of open issues that have fair and responsible banking impact.
Risk Assessment: Assist in conducting fair banking risk assessments to ensure risks and controls have been assessed appropriately. Develop and report on fit-for-purpose fair and responsible banking KRIs and other metrics.
Training: Develop or recommend acquisition of quality, role-based, and relevant fair and responsible banking training.
TPRM: Work with business unit Management to ensure appropriate oversight of service providers, whose performance carries fair and responsible banking
Reporting: Work with Compliance team members and business unit representatives to develop and deliver high-quality, informative, and standardized reporting on DCU’s fair and responsible banking risks and the operation of the Fair and Responsible Banking Program.
Audit and Exam Management: Serve as subject matter expert in providing challenge, assessment, and reviewing responses to requests relevant to fair and responsible banking.
Assign work and delegate responsibilities to direct report(s) and monitor progress to ensure goals are met and high-quality service is maintained. Cultivate strong working relationships and build trust among report(s) and representatives of the business areas. Facilitate cooperation and teamwork to smoothly coordinate second-line of defense compliance activities focused on the Fair and Responsible Banking Program.
Provide leadership, coaching, problem resolution, and day-to-day functional guidance to direct reports.
Monitor DCU’s compliance with fair banking laws by analyzing lending activity to identify fair and responsible banking risk associated with assistance, underwriting, pricing, steering, and servicing.
Research, analyze, interpret, and provide subject matter expertise on compliance with all applicable fair and responsible banking laws and regulations throughout the product life cycle across applicable products, features, and services. Serve as the key subject matter expert on all matters related to fair and responsible banking.
Coordinate and facilitate DCU’s Fair and Responsible Banking Committee.
Collaborate with Member Experience to ensure fair and responsible banking principles are appropriately incorporated into in all marketing and member facing materials, including online targeted marketing.
Develop and maintain positive relationships with the business units to ensure a partnership approach to compliance risk and fair and responsible banking management.
Produce high-quality work product and provide excellent presentations in all aspects of the role with minimal need for review and feedback.
Maintain a solid understanding of laws and regulations related to consumer banking compliance (such as the Consumer Financial Protection Act (Title X of Dodd-Frank), UDAAP, Electronic Fund Transfer Act (Regulation E), Truth in Savings Act, ECOA (Regulation B), Fair Credit Reporting Act (Regulation V), Truth in Lending (Regulation Z), Real Estate Settlement Procedures Act (Regulation X), HMDA (Regulation C), Fair Housing Act, SCRA/MLA, Expedited Funds Availability Act (Regulation CC), Fair Debt Collection Practices Act, and others).
Complete all required Bank Secrecy Act related training annually and maintain an ongoing in-depth knowledge of DCU BSA policies and regulatory requirements.
Perform other job-related duties as assigned by Management.
SupervisoryOversees members of the Compliance team.
What You’ll NeedEducation and Experience Requirements:
8 or more years’ experience in fair and responsible banking compliance oversight; or equivalent combination of education and experience.
At least three (3) years of experience leading compliance professionals.
In-depth experience across multiple lending and depository products (including card, personal loans and student lending).
Strong understanding of, and experience operationalizing compliance with fair and responsible banking laws and regulations (FHA, ECOA, HMDA, UDAAP).
Experience writing policies and procedures and compliance reports, establishing and improving processes, implementing compliance programs and performing risk assessments.
Applied experience with fair and responsible banking testing and monitoring methodologies including matched pair and redlining analysis.
Applied experience in fair and responsible banking analytics, including disparate impact analysis.
Applied experience with statistical modeling and analysis, including hands-on experience using appropriate software for complex data analysis and reporting tasks.
Excellent verbal and written communication skills and excellent interpersonal skills.
Experience working in a regulated environment and responding to inquiries and findings of regulators and auditors required.
Certified Regulatory Compliance Manager (CRCM) certification, Credit Union Compliance Expert (CUCE) designation, or NAFCU Certified Compliance Officer (NCCO) designation required (or willing to obtain).
Thorough understanding of Compliance and Risk Management.
Well-rounded knowledge of the credit union and/or banking industry, including all operational aspects, CFPB regulations, and the FFIEC Consumer Compliance Rating System.
What We DoDCU is the largest credit union headquartered in New England – serving more than one million members in all 50 states. With over 1,900 team members, we strive to make DCU a great place to work with an excellent work-life balance, and a community that cares.
We are proud to be a Equal Opportunity Employer/ Protected Veterans/Individuals with Disabilities. #INDHI
Introduction: My name is Allyn Kozey, I am a outstanding, colorful, adventurous, encouraging, zealous, tender, helpful person who loves writing and wants to share my knowledge and understanding with you.
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