Job Description

Role: Assistant Director, Risk and Compliance Advisory

Duration: Direct Hire
Location: Chicago, IL - must be onsite 3 days per week (Tuesdays, Thursdays, + 1 day of your choosing)

Day to Day:

In this role you will be a pivotal member of our enterprise risk management team, responsible for supporting the operational risk and compliance teams and providing business units guidance on regulatory compliance aspects of mission program and housing products. You will offer guidance to our external customer facing business units (Sales Strategy & Solutions(SSS), Community Investment (CI) and Mortgage Partnership Finance(MPF)) in partnership with the Bank s Fair Lending Officer. Primary duties include providing ongoing compliance advice, facilitation of periodic fair lending risk assessments, reviewing mission programs and housing products, and evaluating process changes from a regulatory compliance perspective and working with other functions such as credit and model risk, compliance and legal compliance. We encourage innovative thinking and challenge the status quo, expecting you to act as a change agent, take initiative, and provide practical, sustainable recommendations to enhance our compliance framework and achieve the Bank s mission and housing objectives.

Responsibilities:

Risk and Compliance Advisory

• Serve as the Bank s subject matter expert and resource on fair housing and fair lending laws and regulations applicable to the Bank and its members. Assist the first line in making risk-based decisions that align with industry s best practice and regulatory expectations when it comes to setting strategy, making process improvements or developing new mission products.
• Perform periodic fair lending risk assessments, including enterprise-level, pilot program or change assessments. Includes assessment of risks associated with design and effective execution of business strategies to promote sustainable housing opportunities for our members communities including underserved communities. Fair lending assessments informed by housing industry practices and trends. Deliver results to senior management and the Board as necessary.
• Stay informed about changes in fair lending regulations and communicate these updates to relevant stakeholders within the organization. Advocate for the Bank s fair lending and UDAP compliance initiatives during regulatory meetings, in comment letters, and discussions. Assist in performing gap analyses and implementation of new regulatory guidance and regulations across the Bank.
• Review and provide guidance on the mission framework including but not limited to policies, impact measurement framework, program guides, agreements, product and pricing strategies, marketing plans, and other key documents. Ensure appropriate fair lending compliance exists that address regulatory and risk management requirements and enable business.
• Monitor fair lending compliance and fair lending reporting and how the Bank is doing addressing gaps related to the effectiveness of bank-wide fair lending activities, with an emphasis on compliance with fair lending laws, rules, and regulations. Evaluate remediation plans related to fair lending/fair housing/UDAAP/UDAP and provide credible challenge. Responsibility for the review and independent assessment of fair lending data/reports, providing expert opinions, and timely escalation of concerns to senior management and the Board. Promote a culture of compliance and participate in solutions to help address any identified gaps.
• Advise business units on development of compliance controls and partner with operational risk and compliance units to develop risk-based control processes and periodically monitor effectivenes.

Stakeholder Management

• Act as a responsible change agent, garnering commitment from key stakeholders to implement or enhance fair lending compliance strategies, fostering a culture of continuous improvement and adherence
• Develop and deepen relationships with internal partners, including First-Line, Operational Risk, Model Risk, Credit Risk, Audit, and Legal departments, to drive timely identification and remediation of fair lending risks
• Support Compliance leadership in collaborating with key stakeholders, including regulatory and legal partners, to respond to internal and external inquiries and requests for fair lending compliance-related information

Additional Responsibilities

• Perform other duties as assigned to support the overall fair lending compliance function

Must Haves:

• Bachelor s degree in finance, economics, risk management, or a related field. Equivalent work experience in compliance management may be considered.
• 8-12 years of work experience in compliance management, with a focus on fair housing and fair lending
• Minimum of 5-8 years of specialized experience in fair lending compliance or prior experience
• Experience in developing and executing fair lending programs or as a regulatory examiner in these areas
• Familiarity with data reporting and analytics related to fair lending.
• MS Office products (Excel, Outlook, PowerPoint, and Word)
• Tableau preferred
• Comprehensive knowledge of key fair lending laws and regulations, including the Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), and Community Reinvestment Act (CRA).
• Must be self-directed, able to work independently with a high level of discretion
• Executive presentation skills and ability to interface with executive management, board, regulators, internal audit and other departments as necessary.
• Well organized and can ensure team meets high number of deadlines reliably
• Strong, effective communication resulting in an understanding of the message from others
• Experience mentoring peers and teammates
• Strong problem solving and decision making abilities
• Displays effective leadership (e.g. empathy, initiative, coaching)
• Influence, guide and credibly challenge stakeholders in relation to compliance risk

Plusses:

• Certified Regulatory Compliance Manager (CRCM) or similar certification preferred
• Regulatory affairs experience, particularly with agencies like CFPB or FHFA, is a plus

Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.

• Dice Id: 10119021
• Position Id: 8539309

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