Fair Lending Consultant/Manager
Our professionals are experienced problem solvers
As seasoned financial services professionals, we possess the hands-on experience to thoroughly assess problems and determine the best solutions for an organization. We are excellent at efficiently executing the implementation of those solutions. Our consultants have “walked in the shoes” of our clients, having held positions in the financial services industry as compliance officers, regulators, underwriters, internal auditors, and consultants. Many of our people are senior industry thought leaders who have run businesses, managed operations, served on boards, and contributed significantly to professional associations as presenters, committee leaders, and authors of industry publications.
ROLE & RESPONSIBILITIES
Successful candidates will become a member of the best team of regulatory compliance professionals in the financial services industry. He/she will report directly to the firm’s managing directors and be responsible for delivering excellent regulatory compliance services to our clients, building strong client relationships, and furthering our excellent reputation in the financial services market. This individual will be expected to follow the CrossCheck Compliance engagement management process and exceed our client’s expectations.
Specifically, the Fair Lending Consultant/Manager will be responsible for:
- Understanding the clients’ expectations and being prepared for delivering the services as required in the agreed-upon statement of work.
- Working effectively with the engagement team to prepare and deliver the services as required and within the timeframe expected by our clients.
- Reviewing and auditing client’s systems, procedures and information related to specific regulations.
- Performing regulatory compliance risk assessments; assisting and consulting with the client’s compliance function; developing programs, policies and procedures; implementing new and updated regulations; monitoring the client’s compliance program; performing compliance audits; preparing the client for examinations; and correcting issues related to regulatory actions or non-compliance.
- Writing reports detailing and effectively summarizing the results of the engagement, which may include recommendations for improving systems and processes and correcting any potential regulatory oversights noted in the review.
- Present findings and recommendations to client senior management and the board of directors.
- Keeping current with the ever-changing and complex regulatory environment.
- Actively participated in the financial services and regulatory compliance professionals associations.
PROFESSIONAL EXPERIENCE
Successful candidates will have 10+ years of experience as a regulatory compliance professional with a bank or a professional services firm. The requirements specifically include:
- Excellent oral and written presentation skills needed in effectively interacting with clients, including the executive team, audit committees and board of directors
- Strong working knowledge of the compliance regulations in the financial services industry and practical implementation of those regulations
- A four-year college degree
- Professional designations preferred such as CRCM, CAMS, CPA
- Proficient in Microsoft Word, PowerPoint and Excel
- Overnight travel to clients
Personal characteristics should include:
- Proactive, collaborative, energetic and hard‐working
- Proven ability to balance strategic thinking with focus on day‐to‐day work
- Positive and enthusiastic attitude with the ability to work effectively in teams
- Effective at working independently with broad communications from supervisor – with a strong sense of when/how to seek counsel
- Stands out as someone able to consistently exercise good judgment and reinforce core values of firm
Fair & Responsible Lending Technical Competencies
- Performed numerous fair and responsible lending qualitative and quantitative reviews of financial institutions, including banks, mortgage companies, auto lenders, and credit card companies.
- Conducted comparative file reviews for financial institutions covering a variety of loan programs, including HMDA/mortgage, consumer, and business purpose lending activity.
- Provided direct management or assistance with fair lending examinations, regulatory investigations, and government enforcement actions.
- Worked directly with prudential regulators, the Department of Justice, and other enforcement agencies to assist financial institutions in developing corrective action plans in response to higher risk business practices.
- Assisted financial institutions in leveraging technology and automation to develop effective internal controls to identify inherent risk and manage residual risk.
Home Mortgage Disclosure Act (HMDA) / Community Reinvestment Act Technical Competencies
- Conducted numerous regulatory enforced and bank-initiated HMDA scrubs, including key fields and non-public data.
- Assisted financial institutions in developing necessary policies, procedures, and monitoring programs to ensure the accuracy of regulatory interpretation, data capture, and submission for both HMDA and CRA compliance.
- Performed HMDA Performance Reviews including application disposition, geographic distribution and borrower distribution analyses, as well as, peer analysis and competitive reviews.
- Conducted CRA Performance Reviews including lending test, service test, and investment test performance analysis, peer analysis / competitive reviews, assessment area validation, performance context development, and mapping of branches, ATMs, and lending activity.
- Designed and implemented automated data capture programs for numerous financial institutions and a variety of loan processing systems.
- Developed and conducted systemic data integrity testing, including errors and omissions through cross validation between multiple data sources.
- Developed and managed geocode data integrity testing programs, using multi-source approach.