Fair Lending and Compliance Specialist
Company: Merchants Bank of Indiana
Location: Carmel
Posted on: October 18, 2024
Job Description:
Description:The Fair Lending and Compliance Specialist is
primarily responsible for administering monitoring programs under
the Company's compliance management system to assist in managing
compliance and fair lending risk across the organization. The
Compliance and Fair Lending Specialist will assist in monitoring
performance through proactive evaluation of data relative to area
demographic and peer data, using that analysis to drive
recommendations for fair lending and fair banking performance
objectives. The successful candidate will have a working knowledge
of federal and state regulations affecting financial
institutions.
This role is in-office out of our Carmel, IN Headquarters.
In one year as a Fair Lending and Compliance Specialist, you will
know you were successful if you...
- Assist in development, implementation, and administration of
all aspects of the Bank's Fair Lending and Fair Banking Compliance
Program, consulting and guiding the Bank in the establishment of
controls to mitigate fair banking risk and ensure compliance with
federal and state fair banking and responsibility- related laws and
regulations.
- Support the Compliance Management System established by the
Chief Compliance Officer (CCO) to ensure compliance with applicable
consumer banking and regulatory requirements by completing
compliance testing and quality control reviews using established
monitoring procedures to determine effectiveness of internal
controls within the business units. Monitoring includes, but is not
limited to, loan and deposit regulations, Home Mortgage Disclosure
Act and CRA Data reviews, and fair lending analysis.
- Conduct Fair Lending and UDAAP Risk Assessments, and
participates in emerging risk identification, reviews fair lending
and fair banking related policies, and reviews control design and
adequacy.
- Analyze program performance through monitoring, peer data
analysis, and testing program elements for evidence of redlining;
perform monitoring for steering, discrimination, and unfair,
deceptive or abusive acts or practices.
- Provide compliance-related advisory services to branch and
department units, consulting with senior management and other bank
personnel to identify and mitigate potential risks to the
Bank.
- Support the Compliance Officer and CRA Specialist to ensure
success in achieving satisfactory CRA performance through ongoing
evaluation and monitoring of performance to stated goals.
- Serve as a resource for regulatory matters and compliance
related initiatives and responds to questions from business units
regarding interpretations of regulatory requirements and applicable
guidance.
- Support the Compliance team in preparing for and managing
Compliance audits and examinations and tracking any noted
exceptions to resolution.
- Provide recommendations and support for periodic training plans
in order to address areas of weakness noted, as well as current
trends identified by regulatory agencies.
- Maintain and enhances knowledge of regulatory compliance
requirements by participating in workshops, webinars, conferences,
meetings, and by reading professional literature.Requirements:What
we're looking for...
- Minimum of three years of banking-related compliance experience
required. CRCM related certification preferred.
- Bachelor's degree from a four-year college or university
preferred
- Expert knowledge and skillset of all applicable fair lending
and responsibility laws, rules, and regulations, including, but not
limited to the Equal Credit Opportunity Act (ECOA), Home Mortgage
Disclosure Act (HMDA), Fair Credit Reporting Act (FCRA), Fair
Housing Act (FHAct), Community Reinvestment Act (CRA), Unfair,
Deceptive, or Abusive Acts or Practices (UDAAP) and State and local
Fair Lending Laws and Regulations.
- Expert knowledge of bank regulatory examination procedures and
techniques and other fair lending/fair banking resources.
- Experience with conducting risk assessments, identifying
mitigating controls, and development of management reporting for
managing fair lending/fair banking risks.
- Thorough working knowledge of bank operations and banking
policies and procedures.
- Ability to work well independently and as a team player;
collaboratively interface with other departments.
- Highly resourceful and self-motivated; strong problem-solving
skills and ability to think critically.
- Ability to maintain a high degree of accuracy and attention to
detail.
- Excellent written and verbal communication skills.
- Basic knowledge of and proficiency with Microsoft Word/Excel is
required.Ranked as the top-performing U.S. public bank by S&P
Global Market Intelligence, Merchants Bancorp is a diversified bank
holding company headquartered in Carmel, Indiana, operating
multiple lines of business, including multifamily housing and
healthcare facility financing and servicing, mortgage warehouse
financing, retail and correspondent residential mortgage banking,
agricultural lending, and traditional community banking. Merchants
Bancorp conducts its business through its direct and indirect
subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp.,
and Merchants Mortgage, a division of Merchants Bank of
Indiana.
PM20 #CL#LI-Onsite
PIa96c182373ff-37248-35642292
Keywords: Merchants Bank of Indiana, Bloomington , Fair Lending and Compliance Specialist, Other , Carmel, Indiana
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