AVP​/VP Fair & Responsible Banking Officer

AVP/VP Fair & Responsible Banking Officer

At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started. With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth.

Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!

The Fair and Responsible Banking Officer serves as a subject matter expert and provides direction and day-to-day support to the various business units on fair and responsible banking. The Fair and Responsible Banking Officer will interface with all levels of management and personnel. Strong interpersonal skills, good judgement, excellent written and oral communication skills, and the ability to collaborate effectively are vital for success in this role.

The role is responsible for coordinating and maintaining a consistent, enterprise-wide approach to fair lending and fair banking monitoring, analysis, and reporting.

• Maintain a strong technical understanding of applicable banking laws, regulations, and regulatory guidance as they apply to banking products, services and processes;
• Ensure bank-wide internal controls, policies and procedures are compliant with applicable banking laws and regulations;
• Manage the regulatory change process by maintaining timelines needed for newly promulgated or amended laws and regulations and working closely with business unit partners to ensure thorough implementation;
• Serve as the subject matter expert and provide support to lines of business on fair lending and fair banking compliance-related issues;
• Assist with the completion of the Compliance Risk Assessment to determine residual risks facing the Bank;
• Assist with the review of new products and/or services prior to launch;
• Collaborate with the Training Department to develop compliance training when necessary for new rules or identified deficiencies and determine annual fair lending and fair banking compliance training assignments for the Board of Directors, officers and staff;
• Review and approve advertising and/or marketing material, evaluating for disparate impact or other fair lending or fair banking risks;
• Assist the Director of Compliance during internal audits and regulatory exams and on any corrective action plans assigned to the Compliance Department;
• Review customer complaints and monitor for any potential trends that may indicate disparate consequences of the Bank's existing policies and procedures.
• Utilize software to monitor for fair lending or fair banking issue including comparative file analysis or regression testing when appropriate.
• Coordinate and execute a centralized, risk-based fair lending and fair banking monitoring plan across business lines to promote consistency, enterprise coverage, and defensibility;
• Manage the review and validation of data used to determine the Bank's applicability under Section 1071, ensuring accurate monitoring of threshold volumes and supporting fair lending and fair banking analytics.
• Prepare fair lending and fair banking monitoring results and emerging risk observations for escalation to Compliance leadership and inclusion in management or committee reporting, as appropriate.

• Bachelor's Degree and five or more years of compliance, risk management, or fair lending/fair banking experience in a financial institution or regulatory setting, with demonstrated exposure to fair lending or fair banking monitoring, or an equivalent combination of education and experience.

• Excellent written and interpersonal communication skills.
• Applied technical knowledge of consumer and commercial banking laws, regulations and regulatory guidance with an emphasis in Fair Lending
• Change Management – influence and advise business to meet new and existing regulatory obligations.
• Ability to synthesize monitoring results and data into clear risk narratives.
• Confidence in supporting regulatory examinations and responding to fair lending-related inquiries.
• Well established understanding and experience in CRA policies and assessments
• Demonstrated experience in analyzing and assessing data for Fair Lending risks in lending.

• Testing and monitoring for regulatory requirements related to Fair Lending compliance is preferred.
• Notable experience and background in Fair Lending compliance programs for Indirect Lending products and services.
• CRCM or ability and commitment to obtain.

Note:

Job levels and hiring decisions are based upon both the business needs of the department and the qualifications of the incumbent. In some cases, an incumbent may meet the requirements at the VP level, but may be hired in at a lower level based upon business needs and…