Fair Lending Specialist II

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community?  Provident is a successful and highly regarded multi-billion dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  At Provident Bank, we are committed to enhancing our customer and employees’ experience.   

Job Duties and Responsibilities: 

The Fair Lending Specialist is responsible for ensuring compliance with federal and state fair lending laws and regulations and administering monitoring programs under the Bank’s compliance management system to assist in managing fair lending risk across the organization. This role involves conducting analyses, monitoring lending practices, conducting Matched Pair loan file reviews and providing training to staff to promote fair lending principles across the organization.

The ideal candidate will have a strong understanding of federal and state law regulations such as Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA) and other applicable fair lending laws. 
 

• Review and analyze lending policies and practices to ensure compliance with the (ECOA), (FHA), and other applicable fair lending laws. Conduct regular fair lending assessments of lending activities to identify potential fair lending risks. 

  Analyze loan data to detect patterns of discrimination and disparities in lending practices. Prepare reports summarizing findings and make recommendations to business line for corrective actions where necessary. 

• Support the implementation and administration of all aspects of the Bank’s Fair Lending and Fair Banking Program, consulting and guiding the Bank in establishment of controls to mitigate fair banking and fair lending risk. 

• Work closely with the Fair and Responsible Banking Office, Chief Compliance Officer and CRA Officer to address fair lending concerns and assist in developing strategies for improvement.  Participate in community outreach initiatives to promote fair lending practices. 

• Assist in conducting Fair Lending and UDAAP Risk Assessments.  Assist in developing and delivering training programs to Bank staff on fair lending laws, regulations, and best practices. Serve as a resource for staff questions regarding fair lending issues and policies as well as a resource for regulatory matters and compliance related initiatives and responds to questions from business line regarding interpretations of regulatory requirements and applicable guidance.  

• Proficient in utilizing statistical analysis tools such as NContracts software or CRA Wiz . 

• Support the Compliance team in preparing for and managing Compliance audits and examinations and tracking any noted exceptions and execute remediation plans. 

• Maintain and enhance knowledge of regulatory compliance requirements by participating in workshops, webinars, conferences, and meetings.

• Perform special projects and additional duties and responsibilities as assigned by the Fair and Responsible Banking Officer and/or Chief Compliance Officer. 
   

SKILLS AND TRAINING:

• Ability to work independently and in collaboration with other team members and external partners
• Banking experience and/or general knowledge of banking regulations a plus
• Ability to effectively communicate with stakeholders
• Expert knowledge and skillset of all applicable fair lending laws, rules, and regulations, including, but not limited to the Equal Credit Opportunity Act (ECOA), Home Mortgage Disclosure Act (HMDA), Fair Credit Reporting Act (FCRA), Fair Housing Act (FHAct), Community Reinvestment Act (CRA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) and State and local Fair Lending Laws and Regulations. 
• Expert knowledge of bank regulatory examination procedures and techniques and other fair lending/fair banking resources.
• Working knowledge of banking operations and banking policies and procedures.
• This position requires a strong analytical background, excellent problem-solving skills, self-motivated and the ability to work with complex datasets.
• Basic knowledge of and proficiency with Microsoft Word and Excel is required. 

EDUCATION:

• Bachelors Degree or  5 plus  years of relevant work experience in a corporate compliance function. 

WORK EXPERIENCE:

• Experience with development of testing methodologies and creation of working papers
• Expertise in utilizing various monitoring software programs, such as Questsoft and NContracts to perform thorough compliance assessments and reviews.

LICENSES AND/OR CERTIFICATES: Specialty licensing or certifications a plus

WORKING CONDITIONS: Work is performed in a normal office environment. Noise levels are usually moderate. May also involve travel to customers and property locations.

Hazards:  The hazards are mainly those present in a normal office setting and those present in commuting by car. Occasionally may be exposed to those conditions present in public forums and meeting places.

TRAVEL REQUIREMENTS:   May require travel between Customer sites, Provident Offices, or Branches

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.  Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.    

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

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