Fair and Responsible Banking UDAAP Compliance Manager
Full Time
Jackson, MS 39201
Posted
Job description
Overview:
UDAAP Review
Qualifications:
This position supports the Company’s Fair and Responsible Banking Program (Program). The Fair and Responsible Banking Specialist (Specialist) provides subject matter expertise on fair and responsible banking laws, including the Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Unfair, Deceptive or Abusive Acts or Practices (UDAAP) and related regulatory guidance. The position may be responsible for conducting compliance risk testing activities specifically related to UDAAP and Sales Practices throughout the Bank for. risks related to Consumer Banking / Lending activities.
Responsibilities:
UDAAP Program Oversight
- Consult with and advise business lines and other stakeholders on fair and responsible banking risks and controls through established review processes and procedures.
- Assist in the development and on-going maintenance of UDAAP Program standards
- Review business changes (e.g. new or modified product or service) to identify and assess risks and ensure appropriate risk mitigation is in place prior to implementation.
- Review business line incentive compensation plans for potential risks that can arise from the design and operation of the plans, and ensure risk is sufficiently mitigated prior to implementation.
- Review corporate credit policies for potential risk and work with Credit Risk Management to make necessary changes.
- Participate in regulatory change management assessments and associated business change projects.
- Stay current on business line products, services and processes, distribution channels, geographies, organizational structures and related regulatory requirements.
- Maintain appropriate knowledge of and stay current on fair and responsible banking laws and regulations, guidance and other legal and regulatory developments, and how they apply to the Company and assigned business lines.
- Provide summary reporting of results derived from the fair lending life cycle testing
UDAAP Review
- Review internal and external materials with compliance impact to identify and assess risk and ensure appropriate risk mitigation prior to production. Materials include customer-facing information (e.g. marketing) and employee-facing information (e.g. procedures and training).
- Lead development of test scripts for complex UDAAP and Sales Practice risk reviews
- Identify, draft and present issues that require corrective action. Provide guidance and oversight of resolution plans that address identified issues.
- Evaluate the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls.
- Draft reports of findings and provide recommendations to business line management with limited assistance.
Qualifications:
- Advanced knowledge of related state and federal compliance regulations, fair and responsible banking policies and procedures
- Advanced knowledge of Bank operational practices and operations
- Advanced Microsoft Office skills
- 1+ year of leadership experience
- Excellent verbal, written, and interpersonal communication skills
- Good analytical skills with high attention to detail and accuracy
- Ability to interact with all levels of an organization
- Risk and regulatory compliance experience
- Ability to articulate complex concepts in a clear manner
- Knowledge and understanding of audit methodologies and tools that support audit processes
- Strong organizational and prioritizing skills
- Ability to meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Knowledge and understanding of complex regulatory/compliance issues and potential solutions
- A BS/BA degree or some college and equivalent compliance program experience
- 2+ years of compliance and controls testing experience
- 4+ years’ experience developing testing scripts and methodology for UDAAP and Sales Practices
- Moderate knowledge of product and process within Consumer Banking/Lending lines of business
- Experience in Audit, Compliance, Risk and Testing
- Understanding of risk-based control testing, including assessing the adequacy of design and testing the effectiveness of internal controls
- Strong presentation, documentation, and organizational skills
- Experience drafting issues and executive summary reports
- High initiative, proactive, and comfort with multi-tasking
- CRCM, CIA, or other Compliance/Audit Certifications
- Critical Thinking and Analytical skills
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