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What Is a CRA Officer and How to Become One

What Does a CRA Officer Do?

A CRA officer works with financial institutions, such as banks and credit unions, to ensure that they are in compliance with the Community Reinvestment Act. As a CRA officer, you enforce all provisions of the CRA program and meet with institutions to verify their compliance. Your responsibilities include conducting a review of an institution's lending and credit policies. Other duties involve working with financial organizations to administer the CRA exam, which evaluates their CRA compliance. You meet with community, business, and government leaders to guide them toward adhering to CRA policies that help lower and middle-income community members.

How to Become a CRA Officer

Acquiring a job as a CRA officer requires a bachelor’s degree in finance, business, economics, or a related field. Experience working in a financial environment, such as at a bank or other type of lender, is also essential. CRA officers often work with bank and credit union leadership. Therefore, experience working with senior-level management is an asset. Additional qualifications include a thorough understanding of the Community Reinvestment Act and how it affects lower and middle-income members of your community. Project-based leadership skills are also beneficial, as you must lead a team to administer CRA exams to multiple financial institutions.