Job Description
The CRA Officer is responsible for developing, implementing and administering all aspects of the Bank’s Community Reinvestment Act (CRA) Compliance Program so that the goals of meeting the credit needs of the communities the Bank serves, including low and moderate income neighborhoods, are met. The CRA Officer develops and implements programs to ensure the Bank meets the needs of the community and attains CRA compliance goals and acceptable federal examination ratings.
Essential Functions CRA Compliance:
- Serve as the Bank’s CRA Officer.
- Responsible for the collection of all CRA data, including but not limited to: working with the Bank’s CFO regarding CRA qualified investments, all HMDA loan data, all CRA qualified community support donations and all employee hours donated in support of our community.
- Coordinate, document and review lending, investment and service activity related to the requirements of the CRA Act.
- Serves as the Bank’s principle liaison with external CRA compliance auditors, examiners and regulators.
- Maintain relevant CRA reports and files such as the public CRA file including data and documentation.
- Prepare, analyze and monitor the Bank’s statistics to determine adequate loan penetration of low and moderate income households and small businesses.
- Work with the Bank’s various departments to develop lending, investment, and service programs that help meet the lending needs of low and moderate income households.
- Design and develop a risk based action plan framework around the laws, regulations and issues relating to CRA, Fair Lending, Home Mortgage Disclosure Act (HMDA), Fair Housing Act (FHA) and other regulations as applicable.
- Monitor the Bank’s CRA performance and suggest program modifications and improvements.
Community Outreach - Represent the Bank in appropriate forums for community outreach and lending opportunities.
- Manage the Bank’s CRA database for collection of volunteer hours and donations including determination of CRA eligibility.
- Assist in developing sound loan programs designed to meet the credit and housing needs of the Bank’s communities.
- Assist in the development of new products to ensure that the Bank’s lending programs, deposit products and other financial services are designed to enable the Bank’s community to purchase businesses and build financial security.
- Responsible for handling any verbal or written complaint(s) received that impacts the Bank’s CRA performance and issuing a response to the complaint.
Training - Act as the key educational resource for all departments on affordable products, guidelines and outreach while offering to be a resource for their clients.
- Work with Learning and Development to develop formal bank wide CRA training.
- Build awareness and provide training to Retail and Marketing to promote affordable products and marketing collateral.
- Develop a library of CRA resources. Collect and distribute information related to the CRA and other topical subjects to appropriate staff. Provide informational assistance to loan officers, branch personnel, Management and the Board of Directors.
- Oversee the bank’s compliance with the Home Mortgage Disclosure Act (HMDA), CRA, Fair Lending and Fair Housing Act (FHA) regulations and ensuring data integrity and timely submission of data to the respective regulatory agency or agencies.
- Review, revise and make recommendations regarding the Bank’s policies and practices to comply with Home Mortgage Disclosure Act (HMDA), CRA, Fair Lending and Fair Housing Act (FHA).
- Administer software programs and any third-party vendor relationships for CRA and Fair Lending.
Minimum Qualifications Knowledge, Skills and Abilities: - Knowledge of the CRA and related regulations.
- Knowledge of operating areas, functions, products and services and the laws and regulations which apply to commercial banks as they relate to credit administration and lending activities.
- Knowledge of loan compliance practices and procedures.
- Knowledge of internal audit practices and perspectives.
- Knowledge of risk and controls including tests for design and operating effectiveness and controls.
- Skills necessary to explain and implement marketing tools.
- Skills performing independent reviews and recommendations for risk management.
- Computer skills including Microsoft Word, Excel, Outlook and PowerPoint.
- Basic mathematical calculation skills.
- Ability to work with all levels of management and Bank staff as well as the Board of Directors.
- Ability to conduct thorough research, interpret and understand laws and regulations and provide workable recommendations and solutions to problems.
- Ability to articulate the community outreach and affordable lending goals of the Bank.
- Ability to work with community groups and government agencies.
Physical Requirements - Ability to stand, bend, stoop, sit, walk, twist and turn.
- Ability to lift up to 25 pounds occasionally.
- Ability to use a computer keyboard and calculator.
- Work environment is indoors; majority of the time is spent sitting at a desk.
Education And Experience A combination of education and experience equivalent to a bachelor’s degree in finance, accounting or related field; and knowledge typically gained through a minimum of five to six years’ experience including experience having successfully managed a CRA program.
Compensation Expected annual base comp for this role is $93,000 to $160,000. Compensation offered will fall within these ranges commensurate with the candidate's applicable experience, education and skills.
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