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Senior CRA & Fair Lending Compliance Analyst
at Webster Bank
200 Executive Blvd South-HF433
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
BASIC FUNCTION :
The incumbent reports to Webster Bank N.A.'s Corporate CRA & Fair Lending Officer and will be a key member of the Corporate CRA & Fair Lending Program Management Team [CRA/FL PMT], which has responsibility to support the efforts of the CRA & Fair Lending Officer and provide the tools, supervision and expertise to support and evaluate the state of compliance throughout the Bank. The incumbent is responsible for analyzing, manipulating and researching data; policy and procedure development and review; assisting in training efforts, collecting, managing and the timely and accurate reporting of regulatory data; as well as other related activities to support the Bank's CRA & Fair Lending Programs. This position also serves as a subject matter expert and works with and through Corporate Compliance partners to provide support to impacted business lines to ensure product/service offerings, processes, internal controls, reporting and procedures are in compliance with the laws and regulations that fall under the purview of the CRA/FL PMT. The ideal candidate is experienced in managing large quantities of data with a demonstrated ability to problem solve, gain subject matter expertise and ensure data quality and validity.
- Analyze, interpret and maintain a strong knowledge of all current and proposed relevant laws and regulations [along with their technical requirements] that are managed under and/or impacting the CRA & Fair Lending Program; advise management on emerging compliance issues; and consult and provide guidance in the establishment of controls to mitigate risk. Provide subject matter expertise in the area of HMDA (Home Mortgage Disclosure Act), CRA (Community Reinvestment Act), UDAAP and Fair Lending.
- Collect and validate critical data elements [in addition to identifying aberrant or missing data elements] to accurately perform fair lending analyses utilizing basic statistical techniques (mean, standard deviations, statistical significance) of data analytics software (e.g. Fair Lending Wiz).
- Conduct comparative or investigative file reviews to determine whether policies and procedures were followed; identify policies/ trends/ data integrity issues that may contribute to heightening the fair lending risk; recommend internal control improvements, and identify specific instances where remediation may be required. Summarize and effectively communicate the results of Fair Lending analyses and/or other reviews, including conclusions and recommendations for next steps to Corporate Compliance and/or business line management. Develop monitoring procedures and execute analysis designed to evaluate data for evidence of disparate treatment/impact.
- Collaborate with Corporate Compliance partners and business line representatives to identify and mitigate CRA and Fair Lending risk; communicate best practices and expectations, and assist with the implementation of strategic plan to address deficiencies. Assist in the development of business line compliance procedures to support the LOB's activities and product offerings and ensure processes and controls are established to mitigate the associated regulatory risk
- As applicable, conduct Fair Lending and/or HMDA reviews, and testing or monitoring to identify compliance/control issues or deficiencies which require corrective action and resolution; including a root cause analysis. Monitor and track corrective action on regulatory issues to final resolution. Analyze potential anomalies in borrower loan data and determine solutions to correct deficiencies, limit repeat of deficiency or other recommended course of action
- Develop and deliver extremely accurate and precise communications, performance reports and presentations to all levels of managements
- Additional responsibilities may include, without limitation: project management; participating in workgroups or on committees; delivering training and assisting with internal audits or regulatory examinations
- Bachelor's Degree required in any of the following: Finance/Accounting, Business Administration, Mathematics, Statistics and Economics.
Licenses /Certifications --
Certified Regulatory Compliance Manager (CRCM), Certified Risk Professional (CRP) and/or Certified Internal Auditor (CIA) Desirable
Job Skills/Knowledge/Experience -
- 5+ years Compliance, Audit, or Risk Management in the Financial Services or related industry
- Solid knowledge of banking laws and regulations along with the ability to analyze the impact of new/amended regulatory compliance requirements on existing products, processes and practices
- Strong analytical and critical thinking skills. Preferred in-depth knowledge of Fair Lending Analytics techniques and experience in conducting fair lending analyses
- Ability to analyze and evaluate the integrity of data and identify trends
- Detail oriented, desire for accuracy and well organized. Must be able to multi-task.
- Excellent written and verbal communication along with interpersonal, project management and presentation skills; training experience, a plus
- Strong knowledge and experience to effectively use Wolters Kluwer CRA WIZ and Fair Lending WIZ software, along with Microsoft Office products, including Word and Excel
- Proven ability to quickly assimilate/organize large amounts of new information; identify possible exceptions and trends; document results and produce professional summary of findings or reports
- Ability to prioritize and adapt to fluctuations in workflow in order to meet daily, monthly and quarterly deadlines
- Excellent organizational and attention to detail skills are critical
- Effective communication style and interpersonal skills to resolve issues professionally and collaborate with business lines