Fair & Responsible Banking Officer- Remote
Who We AreAt 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!Position Overview: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. This position is remote; remote work must be performed in Illinois, Wisconsin, Indiana or Michigan, unless otherwise agreed to, in writing, by Old Second Management and the Employee. May be required to visit the office on an as needed basis.Essential Job Functions:
- 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 Compliance Manager 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.
- Maintain data integrity as it relates to 1071 as well as other systems used to analyze fair lending and fair banking.
- Bachelor's Degree and five or more years of broad compliance or risk management experience in a financial institution setting or specific fair banking compliance expertise, or 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
- CRA policies and assessments
- Data analysis and assessment
- Testing and monitoring for regulatory requirements is preferred.
- CRCM or ability and commitment to obtain.