CRA & Compliance Officer

CRA & Compliance Officer

Reports to:       EVP Chief Operating Officer

 
Summary:

Effectively manage Lakeside Bank’s Community Reinvestment Act (CRA) and Compliance Program by overseeing that the Bank and its employees comply with all laws, rules, and regulations of the industry. This will include planning, developing, executing, monitoring, analyzing and reporting on all Compliance and CRA policies and programs and then reporting results to our Executive team and the Board of Directors.

This position encompasses two major functional areas -- CRA & Compliance, requiring specific knowledge and skills related to each.  Responsibilities include the management of the daily activities of the Bank’s CRA & Compliance policies, risk assessments and maintaining the Bank’s “Compliance and Auditing” calendar. This position will work with various functional areas pertaining to both CRA & Compliance in the review of policy and procedures, monitoring adherence to policies and procedures, product development, and training bank employees.

The Compliance Officer is responsible for providing compliance support, communication and interpretation of compliance rules and regulations to Bank employees and for researching regulatory issues as they arise.  This position will be in tune and responsive to new regulations as well as changes to existing regulations.

Community Reinvestment Act Officer:

Oversee all aspects of the Bank’s Community Reinvestment Act (CRA) program. Specific responsibilities include the following:

• Recommend and implement enhancements to the CRA Policy and Program that efficiently and effectively prepare the bank for successful CRA examinations.
• Ensure that the bank’s community reinvestment activities are tracked, analyzed and modified as appropriate to ensure at least a satisfactory rating.
• Assist in preparation for, and management of CRA examinations and internal audits, including coordination and the collection of information, materials and other data.
• Prepare and present a semi-annual review and self-assessment of CRA activity (analyze CRA lending, service and investment performance) to the Board CRA Committee.
• Manage reporting systems and act as system coordinator. Ensure that data is loaded into the system and scheduled software updates are performed.
• Collect CRA data and coordinate with others in the bank to identify Community Development Loans, Investments, and track Service Activities.
• Maintain required updates to CRA notice and the Public File.
   

Compliance Officer:

Oversee all aspects of the Bank’s Compliance programs. Specific responsibilities include the following:

• Establish and maintain good working relationships with other employees, management, external auditors, and examiners.
• Serve as a central resource for bank staff to provide assistance regarding compliance issues.
• Participate in compliance meetings with Compliance Committee Team members.
• Assist in scheduling, assigning, and conducting compliance training to ensure the bank’s board of directors, bank officers and staff are provided with sufficient education to ensure compliance.
• Develop and perform compliance monitoring programs to meet compliance objectives, for all departments of the bank. This includes reviewing, evaluating and verifying the soundness, adequacy, and application of controls and procedures.
• Collect, analyze, interpret and document information which supports compliance monitoring results.
• Make recommendations to bank management regarding (1) internal controls and safeguards, (2) regulatory and legal compliance, and (3) changes to the bank’s policy and procedure manuals.
• Report compliance monitoring evaluations in the form of written compliance reports to management and executive management.
• Evaluate management responses to all compliance reports, tracking findings, and verifying that remediation is implemented.
• Review forms and documents for compliance with regulatory requirements.
• Conduct research as assigned and provide information regarding regulations, regulatory changes and potential procedural impact.
• Serves as a liaison for all regulatory examinations.
• Assist during examinations or audits (both internal and external), including following up on and assisting in resolving cited violated and/or deficiencies.

• Complete file audits to assess the level of compliance with specific regulations, including but not limited to Equal Credit Opportunity Act, Truth-in-Lending Act, Real Estate Settlement Procedures Act, Fair Housing Act, Home Mortgage Disclosure Act, Flood Disaster Protection Act, Fair Lending and USA Patriot Act. The review process includes but is not limited to:
• Administer procedures for addressing customer complaints including internal points of contact.
• Complete Home Mortgage Disclosure Act (HMDA) file audits on closed and non-originated loan files to ensure compliance with Regulation C/HMDA. The review process includes but is not limited to:
• Assist Management in new product or service initiatives to ensure compliance with applicable laws and regulations prior to implementation.

Education / Experience:

• Minimum Undergraduate degree, Graduate degree in finance, accounting, economics, law or business preferred.
• Demonstrated understanding of banking laws and regulations.
• Experience with mortgage and commercial lending compliance is preferred.
• Certified Regulatory Compliance Manager (CRCM) certification by ABA which requires 3 years of experience as a compliance officer and 80 hours of training courses approved by the Institute of Certified Bankers, is a plus,  but must be willing to obtain such certification within 12 months of hire.
• 3 to 5 years’ experience with managing compliance regulatory projects or experience in compliance, audit or risk management function.

Skills / Knowledge / Abilities:

• Able to work independently and in a team environment with people of diverse backgrounds.
• Effectively uses organizational and time management skills to achieve goals and accomplish tasks timely.
• Strong project management skills are a plus.
• Knowledge of research and review processes and procedures, with the ability to plan, schedule and conduct regulatory reviews.
• Establishes and maintains effective interpersonal relationships across all areas of the bank, including board members, examiners and external auditors.
• Ability to effectively communicate with management and staff both in written and verbal communications.
• Can discuss findings with confidence and is able to respond to objections. Skillful in finding common ground and is able to handle difficult people and tense situations with diplomacy and tact.
• Able to accurately read and inspect documents, reports, computer printouts, letters and regulatory publications and data for errors or fraud. Ability to analyze detailed information.
• Fully competent using various tools, techniques, and procedures, such as data collection, sampling, data mining, trend analysis, interviewing, questionnaires, checklists, etc.

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to stand, walk, sit and use hands to finger, handle or touch.  The employee is occasionally required to reach with hands and arms.  The employee must occasionally lift and/or move up to 10 pounds.  Specific vision abilities required by this job include close vision and ability to adjust focus.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Disclaimer:

The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification.  It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.

Equal Opportunity Employer Disability/Veteran
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

Lakeside Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by law.

To apply for this position please submit your resume' and cover letter to our website at Careers at Lakeside Bank - Lakeside