Risk Specialist - Small Business Lending

SUMMARY

The Risk Specialist I is responsible for executing validation procedures for the CRA (Community Reinvestment Act) Small Business/Small Farm Loan Application Register (LAR) and the 1071 LAR (Section 1071 of the Dodd-Frank Act – data collection on small business lending). This position supports compliance efforts and risk management by ensuring data accuracy, integrity, and adherence to regulatory requirements.

• Perform routine and targeted validation of data entered in the CRA Small Business/Small Farm LAR and the 1071 LAR, ensuring completeness and accuracy.
• Review loan files and supporting documentation to verify reported information, including loan amounts, client demographics, and geographic data.
• Identify data discrepancies or potential errors, document findings, and communicate issues to relevant associates for resolution.
• Assist in maintaining up-to-date procedures for LAR validation in accordance with changes in CRA and 1071 regulations and internal policies.
• Collaborate with compliance and risk management teams to ensure timely remediation of identified issues and implementation of corrective actions.
• Support the preparation of reports and summaries on validation results for management, auditors, and regulators.
• Stay current on changes to CRA, 1071, and other relevant regulations to ensure accurate validation and compliance.
• Performs other related duties as required

The Risk Specialist I is responsible for executing validation procedures for the CRA (Community Reinvestment Act) Small Business/Small Farm Loan Application Register (LAR) and the 1071 LAR (Section 1071 of the Dodd-Frank Act – data collection on small business lending). This position supports compliance efforts and risk management by ensuring data accuracy, integrity, and adherence to regulatory requirements.

• Perform routine and targeted validation of data entered in the CRA Small Business/Small Farm LAR and the 1071 LAR, ensuring completeness and accuracy.
• Review loan files and supporting documentation to verify reported information, including loan amounts, client demographics, and geographic data.
• Identify data discrepancies or potential errors, document findings, and communicate issues to relevant associates for resolution.
• Assist in maintaining up-to-date procedures for LAR validation in accordance with changes in CRA and 1071 regulations and internal policies.
• Collaborate with compliance and risk management teams to ensure timely remediation of identified issues and implementation of corrective actions.
• Support the preparation of reports and summaries on validation results for management, auditors, and regulators.
• Stay current on changes to CRA, 1071, and other relevant regulations to ensure accurate validation and compliance.
• Performs other related duties as required

• No supervisory responsibilities

• Bachelor (4-year college) degree
• 0+ years of Banking experience or equivalent combination of education and experience
• Strong attention to detail and organizational skills.
• Familiarity with CRA regulations, Section 1071 of the Dodd-Frank Act, and knowledge of LAR data reporting requirements.
• Ability to review and interpret loan documentation and regulatory guidelines.
• Proficiency with common PC software (Excel, Word, compliance systems/databases).
• Effective communication skills to interact with associates at all levels and provide excellent client service.
• Ability to handle confidential information with discretion.

• Microsoft Office suite

None required

First Horizon Corporation is a leading regional financial services…