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Fair Lending First Line Risk Manager

3 months ago


Glen Allen, United States Citizens Full time

With a focus on fair lending compliance, as a First Line Risk Manager you will represent the First Line of Defense and identify and mitigate potential fair lending and/or UDAAP risks through the identification, management, and mitigation of the risk and control environment. The primary function of this role will be to assess business processes to ensure adequate and effective controls are in place to comply with regulatory fair lending and/or UDAAP requirements. While in this role, you will be responsible for proactively reviewing, analyzing, and identifying emerging risks, escalating to the Senior Director/Director of First Line Risk where appropriate. You will work with the Senior Director/Director to comply with the fair lending program and to adhere internal governance processes and controls for existing and new risk strategies and provide suggestion for remediation. You will provide fair lending compliance guidance for change control efforts to ensure impacts are appropriately assessed, documented, and implemented. You will play a key role in determining how fair lending compliance matters are handled. You will also work with First Line Risk Managers – Product Support to initiate investigations into control failures and related issues.

Primary responsibilities include :

Support the identification, measurement, and mitigation of fair lending compliance risks in the organization. Support various business line projects to address specific fair lending compliance risk issues, working with business leaders to analyze and quantify risks, assess solutions or mitigation activities, and develop remediation plans. Proactively engage with the business line and supporting compliance partners to ensure that regulatory change management adhere to applicable banking laws, rules, regulations, and supervisory guidance. Provide guidance and feedback related to regulatory control enhancements to Business Line partners.  Assist with determining the appropriate due diligence and implementation requirements for regulatory change.  Assist with targeted risk assessments.  Review current policies and procedures to identify process gaps and opportunities for improvement.  Implement and support internal governance processes. Provide Risk point of view on strategies, driving change where appropriate. Act as a subject matter expect on fair lending laws and regulations within the first line of defense. This includes all aspects of first line risk management.  Provide risk point of view on strategies, driving change where appropriate. Synthesize data and reporting; perform analysis and bring valuable business insights through evaluation, testing or monitoring of data in relation to risk and control management strategies. Reviews current policies and procedures to identify process gaps and opportunities for improvement. Promote a culture of risk awareness and accountability through training, education, and risk management consultative support.

Required Experience / Qualifications : (this is a individual contribution role)

5 years of experience in Risk and/or Compliance. Experience or understanding of banking product and regulatory requirements. Basic knowledge of business areas processes and/or products and operations; regulatory requirements; process mapping of key business processes and identify risks/requirements and controls associated. Proven ability to work in a fast-paced environment with competing priorities. Excellent communication skills, both written and verbal.  Ability to build relationships across all levels and with the ability to collaborate effectively, take the initiative and work as part of the team. Proficient use of Microsoft suite of products and Atlassian tools (JIRA/Confluence) strongly recommended. 

Education: 

Bachelor’s degree OR at least 5 years working experience in the financial services industry with a focus on risk management.

Hours & Work Schedule: Hybrid - 3 days in the office/2 remote

Hours per Week: 40  Work Schedule: Monday -Friday

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