What are the responsibilities and job description for the Fair & Responsible Banking Compliance Analyst - Consumer Compliance position at WesBanco?
This position is 100% remote within the Bank's footprint. Employee will work full time remote outside of a WesBanco location (may occasionally attend in person meetings, although primary functions of the role are performed remotely)
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Summary
The Fair & Responsible Banking Compliance Analyst uses a combination of compliance monitoring reviews, data analytics and statistical analyses related to the Community Reinvestment Act (CRA) and Fair Banking program to proactively identify compliance risks or gaps in controls and recommend corrective action. The role is responsible for providing research and analytical support; communicating compliance deficiencies and concerns to management and staff; coordinate with and provide assistance to management in developing and implementing corrective action to remediate deficiencies and minimize risk. This position is responsible for ensuring compliance with all record-keeping and reporting requirements of the CRA and fair banking laws, including HMDA, ECOA, FHA, UDAAP and other regulations as applicable.
Essential Duties And Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Monitors and assesses legislative and regulatory changes to ensure that appropriate personnel are informed and changes are made as necessary to the Bank’s policies and procedures to comply with applicable regulatory requirements.
Participates in ongoing risk-based compliance monitoring, testing and risk assessments evaluates compliance risks and effectiveness of corresponding controls; identifies and provides solutions to address gaps in controls, mitigates compliance risks, and enhances compliance training.
Collaborates with the applicable department or functional manager in the development and reviews policies and procedures to ensure remaining compliant with applicable federal and state laws and regulations related to Fair Banking and with standard operating practices.
Participates in new product development to ensure compliance with CRA and Fair Banking regulations.
Performs a review of certain marketing materials before they are placed to ensure compliance with fair banking standards.
Ensures prompt and adequate responses to all complaints related to consumer banking laws and regulations, including appropriate escalation of higher risk complaints that may signal a systemic or material issue.
Coordinates with line of business and operations partners as necessary to ensure timely investigation, gathering of supporting documentation and preparation of written responses to consumers and regulators as required.
Prepares and presents periodic analysis and reports on consumer complaints.
Performs fair lending reviews, analyses and testing, including comparative file reviews, underwriting, redlining, and pricing, as applicable.
Performs UDAAP compliance program reviews and testing.
Prepares quality performance metric reports on fair lending for management and lending teams.
Provides recommendations regarding opportunities for improvement, areas of concern, etc.
Identifies and tracks appropriate KRIs/KPIs to assist the organization with understanding its fair lending profile and performance.
Assists in the administration of state and federal regulator fair lending audits or examinations and reviews; assists with responses; ensures deficiencies are addressed and corrective actions are effective and validated.
Assists with preparing and presenting periodic reports to the Management Compliance Committee concerning the Bank’s fair banking initiatives, complaint management and ongoing compliance with Fair Banking regulations.
Remains current and knowledgeable on all banking compliance and regulatory issues.
Attends seminars, workshops, and various trainings as necessary to maintain and further expand compliance expertise.
Other Requirements
Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Extensive working knowledge of consumer banking regulations and laws.
General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions.
Strong foundation and business experience of compliance regulations specifically related to lending areas of a financial institution including, but not limited to, Fair Lending, MLA, SCRA, HMDA, SAFE Act, Reg. O, TILA, RESPA, CRA, FCRA, Flood Insurance Regulations, UDAAP, and industry trends and "best practices".
Strong communication (written and verbal) and organizational skills with the ability to work independently, as well as collaboratively within a team environment.
Ability to interact and communicate effectively with all levels of management, legal counsel, regulators and examiners while maintaining strict confidentiality.
Ability to research and analyze regulatory compliance issues, communicate requirements as they relate to the organization, and develop effective compliance policies, procedures, references, and training.
Ability to work in a fast-paced environment and positively adapt to routine changes while maintaining high performance standards.
Strong decision-making, analytical and investigative abilities with attention to detail and accuracy.
Proficient in Microsoft Office Suite (Word, Excel); core systems; use of specific software.
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Bachelor's degree in a related field or an equivalent combination of education and experience, required.
Minimum of 5 years’ experience in banking or financial services required.
Minimum of 3 years’ experience with Fair Banking and/or Fair Lending, preferably with federal regulator and/or large institution, required.
Industry certification in compliance/risk management (CRCM) preferred.
Prior experience with Fair Banking or Fair Lending Analysis required, including reporting and presentation. Experience with CRA/HMDA or Fair Lending software is preferred.
,
Summary
The Fair & Responsible Banking Compliance Analyst uses a combination of compliance monitoring reviews, data analytics and statistical analyses related to the Community Reinvestment Act (CRA) and Fair Banking program to proactively identify compliance risks or gaps in controls and recommend corrective action. The role is responsible for providing research and analytical support; communicating compliance deficiencies and concerns to management and staff; coordinate with and provide assistance to management in developing and implementing corrective action to remediate deficiencies and minimize risk. This position is responsible for ensuring compliance with all record-keeping and reporting requirements of the CRA and fair banking laws, including HMDA, ECOA, FHA, UDAAP and other regulations as applicable.
Essential Duties And Responsibilities
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Monitors and assesses legislative and regulatory changes to ensure that appropriate personnel are informed and changes are made as necessary to the Bank’s policies and procedures to comply with applicable regulatory requirements.
Participates in ongoing risk-based compliance monitoring, testing and risk assessments evaluates compliance risks and effectiveness of corresponding controls; identifies and provides solutions to address gaps in controls, mitigates compliance risks, and enhances compliance training.
Collaborates with the applicable department or functional manager in the development and reviews policies and procedures to ensure remaining compliant with applicable federal and state laws and regulations related to Fair Banking and with standard operating practices.
Participates in new product development to ensure compliance with CRA and Fair Banking regulations.
Performs a review of certain marketing materials before they are placed to ensure compliance with fair banking standards.
Ensures prompt and adequate responses to all complaints related to consumer banking laws and regulations, including appropriate escalation of higher risk complaints that may signal a systemic or material issue.
Coordinates with line of business and operations partners as necessary to ensure timely investigation, gathering of supporting documentation and preparation of written responses to consumers and regulators as required.
Prepares and presents periodic analysis and reports on consumer complaints.
Performs fair lending reviews, analyses and testing, including comparative file reviews, underwriting, redlining, and pricing, as applicable.
Performs UDAAP compliance program reviews and testing.
Prepares quality performance metric reports on fair lending for management and lending teams.
Provides recommendations regarding opportunities for improvement, areas of concern, etc.
Identifies and tracks appropriate KRIs/KPIs to assist the organization with understanding its fair lending profile and performance.
Assists in the administration of state and federal regulator fair lending audits or examinations and reviews; assists with responses; ensures deficiencies are addressed and corrective actions are effective and validated.
Assists with preparing and presenting periodic reports to the Management Compliance Committee concerning the Bank’s fair banking initiatives, complaint management and ongoing compliance with Fair Banking regulations.
Remains current and knowledgeable on all banking compliance and regulatory issues.
Attends seminars, workshops, and various trainings as necessary to maintain and further expand compliance expertise.
Other Requirements
Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Extensive working knowledge of consumer banking regulations and laws.
General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions.
Strong foundation and business experience of compliance regulations specifically related to lending areas of a financial institution including, but not limited to, Fair Lending, MLA, SCRA, HMDA, SAFE Act, Reg. O, TILA, RESPA, CRA, FCRA, Flood Insurance Regulations, UDAAP, and industry trends and "best practices".
Strong communication (written and verbal) and organizational skills with the ability to work independently, as well as collaboratively within a team environment.
Ability to interact and communicate effectively with all levels of management, legal counsel, regulators and examiners while maintaining strict confidentiality.
Ability to research and analyze regulatory compliance issues, communicate requirements as they relate to the organization, and develop effective compliance policies, procedures, references, and training.
Ability to work in a fast-paced environment and positively adapt to routine changes while maintaining high performance standards.
Strong decision-making, analytical and investigative abilities with attention to detail and accuracy.
Proficient in Microsoft Office Suite (Word, Excel); core systems; use of specific software.
,
Bachelor's degree in a related field or an equivalent combination of education and experience, required.
Minimum of 5 years’ experience in banking or financial services required.
Minimum of 3 years’ experience with Fair Banking and/or Fair Lending, preferably with federal regulator and/or large institution, required.
Industry certification in compliance/risk management (CRCM) preferred.
Prior experience with Fair Banking or Fair Lending Analysis required, including reporting and presentation. Experience with CRA/HMDA or Fair Lending software is preferred.