Fair Lending Manager

Description

Fair Lending Manager Fort Lee, NJ, US Who We Are: At Cross River, we’re building the best banking and technology products for fintechs, all through APIs. As venture-backed pioneers of the platform-based financial services model known as the sponsor, or partner, bank, we work closely with our partners to offer products such as payments rails and loan origination services to the latest in regulatory and compliance solutions. What drives us every day? A desire to innovate in the service of financial inclusion. Giving access to consumers, whether they are looking for credit or for a better way to pay has been in our DNA from day one. Our nimble, adaptive, one-step ahead culture is powered by our people, and as a result of their creativity, tech-forward thinking and collaborative spirit, we are experiencing explosive growth.What we’re looking for: Cross River’s Compliance team makes sure that our business is always consistent with current regulations. This role supports the Bank’s offering of lending products both directly and through third-party lending partners. A successful candidate will be responsible for managing specified control functions, which are key components of an effective Fair Lending Program to ensure the Bank remains compliant with fair lending laws across all channels. The Fair Lending Manager will oversee the design, operating effectiveness, and continuous improvements of the specified control processes to demonstrate the strength of Cross River’s Fair Lending Compliance Management System (CMS) to the executive team and regulators. The Fair Lending Manager will also serve as an advisor to the Director of Fair Lending Compliance/Fair Lending Officer on fair lending issues and potential risks. Responsibilities: Implement, enhance, and execute specified control processes to appropriately identify and manage risk to appropriate levels based on Cross River’s risk appetite. Ensure the Fair Lending compliance management system (CMS) and information from third-party lending partners will meet expectations of the regulators. Prepare findings coming out of fair lending reviews and present the same to internal and external stakeholders in written and verbal form. Escalate and address material fair lending risks through Cross River’s centralized issue management system and oversight committees. Ensure fair lending reviews and reports are designed to provide the Bank and its third-party lending partners with information needed to evaluate fair lending performance and mitigate risk (when necessary). Serve as subject matter expert in fair lending discussions with regulators, assisting the Director with responses to fair lending-related requests during examinations. Provide guidance on fair lending-related issues that arise internally at the Bank or at third-party lending partners. Update or enhance Fair Lending’s policies and procedures as necessary to cover specified control functions. Provide regular reporting and ad hoc escalation to the Director of Fair Lending Compliance on progress, team performance, at risk deadlines, material risk issues, and updates for oversight committees. Supervise lower-level team members, as assigned by the Director of Fair Lending Compliance. Support other risk mitigation and strategic plan efforts, as assigned by the Director of Fair Lending Compliance on an ad hoc basis. Qualifications: Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws (e.g., ECOA, UDAAP, and FHA) as they pertain to all aspects of Fair Lending. Demonstrates understanding of a Fair Lending CMS that meets regulatory expectations, including data management processes and compliance program components (e.g., risk assessments or testing and monitoring). Experience in developing and managing control processes is required. Ability to direct, train, and oversee other team members to collectively work toward team goals. Demonstrates ability to identify gaps and problem-solve within the Fair Lending Program, other internal departments, and third-party lending partners. Excellent writing skills and the ability to communicate findings, risk mitigation strategies, and difficult concepts in a way that is easy for parties unfamiliar with fair lending concepts to understand. Extremely strong interpersonal skills and the ability to communicate effectively with outside stakeholders and current or prospective lending partners. Effective organizational and time management skills. Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments. Ability to prioritize work schedules on a short-term and long-term basis. Ability to provide consultation and subject-matter expert advice to management. Ability to make informal and formal presentations, speaking before assigned team or other groups as needed. Ability to deal with complex, difficult problems involving multiple facets and variables in non-standardized situations. Ability to work with little to no supervision while performing duties. Experience in developing and managing control processes required. Bachelor’s Degree required; advanced degree or certification preferred. Minimum of five (5) years of experience in Fair Lending compliance capacity. Minimum of three (3) years of experience as a manager or team lead who directs and oversees other team members. Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need. Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need. By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided. We will only contact you with job related information.

Fully Remote (USA, Canada, Africa, Europe, Asia, Oceania, Latin America)

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