Fair Lending Compliance Specialist
Best Egg
full-time
Posted on:
Location Type: Hybrid
Location: Wilmington • United States
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Salary
💰 $110,000 - $125,000 per year
About the role
- Assist in the development and execution of the Fair Lending Compliance Program by conducting scheduled reviews and analyses that monitor and/or test for potential fair lending risks and control deficiencies.
- Including core program components such as the annual Fair Lending risk assessment and risk & control reviews.
- Support regulatory change management activities as they relate to Fair Lending requirements.
- Evaluate new products and services for fair lending risk and compliance implications.
- Assist with exam management and audit activities related to Fair Lending.
- Provide day-to-day Fair Lending compliance support to business partners through research, interpretation of laws/regs, and guidance on emerging risks and industry trends.
- Identify and help mitigate actions that may expose the bank to Fair Lending risk outside its desired risk appetite.
- Lead/assist with monitoring activities that evaluate the effectiveness of controls and recommend enhancements to mature the control environment.
- Partner with lines of business (LOBs) while balancing the compliance oversight role to influence fair lending decisions and risk outcomes.
- Engage directly with LOBs to:
- o Identify Fair Lending risks and develop/execute risk assessments
- o Provide input on controls and testing activities
- o Advise and monitor remediation efforts when issues are identified.
- Independently and credibly challenge Fair Lending-related decisions, business processes, and risks.
- Proactively advise business partners on applicable compliance risk standards and stay current on developments in Fair Lending laws, rules, and industry practices.
Requirements
- Bachelor’s degree (BA/BS) required; relevant fields include Business, Finance, Economics, or related.
- 3-5 years of experience in fair lending compliance, consumer compliance risk, or credit risk oversight within a consumer lending environment.
- Demonstrated experience reviewing credit strategies, underwriting models, and pricing structures.
- Strong understanding of fair lending statistical concepts with the ability to review and challenge analyses.
- Engage directly with LOBs to:
- o Identify Fair Lending risks and develop/execute risk assessments
- o Provide input on controls and testing activities
- o Advise and monitor remediation efforts when issues are identified.
Benefits
- Pre-tax and post-tax retirement savings plans with a competitive company matching program
- Generous paid time-off plans including vacation, personal/sick time, paid short-- term and long-term disability leaves, paid parental leave, and paid company holidays
- Multiple health care plans to choose from, including dental and vision options
- Flexible Spending Plans for Health Care, Dependent Care, and Health Reimbursement Accounts
- Company-paid benefits such as life insurance, wellness platforms, employee assistance programs, and Health Advocate programs
- Other great discounted benefits include identity theft protection, pet insurance, fitness center reimbursements, and many more!
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
fair lending compliancerisk assessmentcontrol reviewsregulatory change managementcredit strategiesunderwriting modelspricing structuresstatistical analysisrisk mitigationcompliance monitoring
Soft Skills
interpersonal communicationanalytical thinkingproblem-solvinginfluencingindependent decision-makingadvisory skillscollaborationcredibilityproactive advisingguidance