Deputy Fair Lending Director
Flagstar Bank FSB

Lansing, Michigan

Posted in Banking

This job has expired.

Job Info

Job Summary
Regulatory Compliance is responsible for developing and maintaining a Compliance Management Program for the Bank that reasonably ensures compliance with consumer protection laws and regulations, addresses associated risks of harm to consumers and customers, and integrates consumer compliance into the day-to-day responsibilities of its management and employees. The Deputy Fair Lending Director works with the Fair Lending Director who is responsible for: (1) designing and maintaining the Bank's Fair Lending and Responsible Banking Program (covering ECOA, FHA, HMDA and UDAAP) which meets regulatory requirements; (2) reasonably ensuring business units are compliant with fair lending laws and regulations; (3) conducting fair lending statistical analyses and identifying and addressing deficiencies; (4) reporting to executive management on the progress and status of fair lending-related objectives and initiatives; and (5) reporting HMDA data in a timely and accurate manner. This role reports directly to the Fair Lending Director and is a critical element of the Compliance Management Program.

Job Responsibilities:

Design and maintain fair lending and responsible banking program that meets regulatory requirements

  • Promote culture of fair lending throughout the Bank
  • Maintain Bank's fair lending and responsible banking policy, procedure and program documents
  • Stay abreast of changes to fair lending laws and regulations, agency guidance and industry best practices; adjust program as necessary
  • Oversee/administer fair lending training

Reasonably ensure Business Units are compliant with fair lending laws and regulations
  • Build strong partnerships across the organization and provide advice on all matters involving fair lending
  • Periodically review Business Units' policies, procedures and controls to ensure they promote fair lending and meet regulatory requirements
  • Conduct periodic fair lending self-assessment
  • With assistance from Compliance Partners, conduct fair lending risk assessments and use results to identify control gaps and training/testing opportunities
  • With assistance from Compliance Partners, ensure identified control gaps are promptly addressed
  • Design and direct appropriate monitoring and testing to identify potential fair lending issues
  • Review Third Party Originators, vendors and new products/services for any fair lending issues; identify remediating action

Conduct fair lending statistical analyses; identify and address deficiencies
  • Develop and oversee an enterprise wide statistical testing program to monitor for fair lending issues
  • Run models/analyses on a regular basis using the Bank's fair lending software or through a third party vendor
  • Communicate with Business Units regarding the results of the analyses/file reviews and any possible exceptions and make practical recommendations in response to the resulting data analytics
  • Collaborate with the Business Unit to track and implement any corrective action or control enhancement recommended as a result of statistical analysis or comparative file reviews
  • Prepare reports to management

Report HMDA data in timely and accurate manner
  • Maintain HMDA database
  • Perform periodic self-tests on HMDA data to ensure accuracy
  • Where errors are found, facilitate corrections to data and/or business unit processes
  • Submit required HMDA data (LAR) to CFPB in timely and accurate manner

  • Serve as the point person for any fair lending internal audits and regulatory exams
  • Assist with other compliance-related needs as directed
  • Complete all required compliance training
  • Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures
  • Independently maintain knowledge regarding changing regulations and policies
  • Ensure compliance with applicable federal, state and local laws and regulation. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.

Job Requirements:
  • HS Diploma, GED or Foreign Equivalent
  • Bachelor's Degree Preferred
  • Professional Certification: CRCM Preferred

  • Statistics and Advanced PC systems skills including proficiency with Microsoft Word, Excel, PowerPoint, and statistical fair lending programs (e.g., RATA Comply software), etc.

  • 10+ years of experience in a financial institution or regulatory agency
  • 7+ years of experience in ECOA, FHA, HMDA, CRA, and state fair lending laws
  • 5+ years of experience in conducting fair lending statistical analysis and/or comparative file reviews
  • 5+ years of managerial experience in a financial institution setting or regulatory agency
  • Knowledge of consumer protection laws and regulations impacting financial institutions
  • Experience in compliance testing or auditing
  • Excellent oral and written communication skills
  • Proven ability to partner effectively across all levels of the organization and develop positive working relationships.
  • Able to manage and execute multiple complex projects within required timelines
  • Demonstrated conceptual thinking and analytical skills
  • Ability to work independently in a continuously changing environment
  • Inquisitive nature, resourceful, and ability to seek out information and develop sound conclusions and strategies
  • Understands statistical analysis
Internal Use Only: Band D

This job has expired.

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