Fair Lending and Compliance Specialist
Company: Merchants Bank of Indiana
Posted on: August 5, 2022
Description: 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.
Requirements: Expected Outcomes:
- Responsible for administering the Fair and Responsible Banking
Program, including compliance training and monitoring and testing
in the areas of Fair Lending and UDAAP compliance.
- Completes annual risk-based compliance monitoring schedule
developed by the Chief Compliance Officer and Compliance Committee
to ensure compliance with federal and state regulations and company
- Assists in conducting risk assessments, identifying mitigating
controls, and the development of management reporting.
- Completes evaluation, monitoring and documentation of fair
lending data, consumer complaints, and supporting program
documentation to effectively identify trends and perform root cause
- Support CRA Performance to stated CRA strategic goals.
- Continuously demonstrates strong analytical ability to research
and interpret regulations and regulatory guidance, including CRA,
HMDA and Fair Lending regulations and guidance. Essential Duties
- Assists 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
- Supports 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.
- Conducts 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
- Analyzes 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.
- Provides 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
- Supports the Compliance Officer and CRA Specialist to ensure
success in achieving satisfactory CRA performance through ongoing
evaluation and monitoring of performance to stated goals.
- Serves as a resource for regulatory matters and compliance
related initiatives and responds to questions from business units
regarding interpretations of regulatory requirements and applicable
- Supports the Compliance team in preparing for and managing
Compliance audits and examinations and tracking any noted
exceptions to resolution.
- Provides recommendations and support for periodic training
plans in order to address areas of weakness noted, as well as
current trends identified by regulatory agencies.
- Maintains and enhances knowledge of regulatory compliance
requirements by participating in workshops, webinars, conferences,
meetings, and by reading professional literature.Expected
Experience, Skills and Education:
- Minimum of three years of banking-related compliance experience
required. CRCM related certification preferred.
- Bachelor's degree from a four-year college or university
- 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
- Excellent written and verbal communication skills.
- Basic knowledge of and proficiency with Microsoft Word/Excel is
required. Additionally, all employees are expected to demonstrate
the following Core Competencies:Professionalism - acting with
responsibility, integrity and accountability; demonstrating
consistent trustworthiness and reliability; always remaining
flexible, adaptable and willing to accept coaching; building and
managing professionally healthy relationships; deliberately
managing career decisions; and continually developing awareness of
business-related topics.Communication - understanding various
active and passive tools and styles and their effects; and
exhibiting appropriate, effective, timely use of tools and styles
to connect, collaborate, facilitate teamwork and serve
customers.Work Quality - demonstrating an ongoing commitment to
compliance, safety and security; executing work with efficiency, a
sense of urgency and attention to detail; and displaying organized
work practices and a results-oriented mindset.Analytical Ability -
navigating work-related circumstances with practical, sound
reasoning; and demonstrating creativity in problem
solving.Leadership - displaying good judgment and certainty in
decision making; taking initiative with job-related demands;
demonstrating innovative thinking and sound planning with business
practices; managing individual performance toward shared
organizational goals; and thinking strategically to set and
accomplish goals.Merchants Bancorp and its affiliates and
subsidiaries are committed to being equal opportunity employers.
All job candidates and incumbents will be assessed based on only
criteria relevant to successfully performing the job as defined in
this job description and as generally accepted in the job's
Keywords: Merchants Bank of Indiana, Carmel , Fair Lending and Compliance Specialist, Other , Carmel, Indiana
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