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CRA Officer
The CRA Officer is responsible for the day-to-day administration and coordination of the bank’s Community Reinvestment Act program, as well as for supporting the oversight of CRA governance, compliance, and audit readiness. The position requires a bachelor’s degree and 3–5 years of experience in CRA compliance or regulatory oversight in the banking industry.
Description
The CRA Officer is responsible for the day-to-day administration and coordination of the bank’s Community Reinvestment Act (CRA) program and assists the Chief Examining Officer in maintaining effective oversight of CRA governance, including compliance, performance monitoring, and audit readiness.
This role is responsible for supporting the development, implementation, monitoring, reporting, and continuous improvement of the Bank’s CRA program, including oversight through audits and key performance indicators to ensure compliance with applicable regulatory requirements and supervisory expectations. This position conducts regulatory analysis, monitoring, reporting, and documentation in coordination with the Bank’s CRA Executive Committee. Seniority to fulfill public welfare objectives.
Main responsibilities
Community Reinvestment Act (CRA) Program Oversight
- Serve as the day-to-day administrator of the bank’s CRA program and assist the CCO in maintaining effective oversight of the CRA program.
- Monitor and evaluate CRA performance against established goals and regulatory expectations, including compliance with CRI-1 and CRI-2.
- Conduct CRA eligibility and qualification analyses for public benefit loans, investments, services, and grants (where applicable).
- Prepare CRA reports and updates for senior management, the Board of Directors, and the CRA Executive Committee.
- Coordinate CRA regulatory updates, audits, documentation requirements, and ongoing improvements to the CRA program.
- Implement management measures in response to regulatory findings or to address CRI-2 deficiencies.
- Prepare reports on significant compliance risks, regulatory compliance escalations, issue tracking, and resolution updates for senior management and regulatory authorities.
- Support the preparation of CRA reports for senior management, the board of directors, and CRA regulatory authorities.
- Support regulatory developments, including preparation for CRA audits or self-assessments.
Governance, Risk, and Reporting
- Participate in the oversight of the bank's CRA risk monitoring, governance, and control framework, including tracking deficiencies, emerging issues, and remediation plans.
- Risk Management, Internal Audit, and Compliance work together to develop measurable control metrics, escalation thresholds, and governance updates.
- Support the maintenance of a CRA sub-risk matrix that covers the effectiveness of monitoring, the adequacy of resources, and the responsiveness of the business units.
- Analyze performance indicators, key performance metrics, and governance updates to strengthen CRA governance, controls, and program effectiveness.
- Review key performance indicators and identify trends that affect the bank's CRA program, including tracking CRI-1 and CRI-2 deficiencies.
- Collaborate with regulatory stakeholders on special projects, including the development of strategic plans, materials for the CRA Executive Committee, and reports for the board of directors.
- Assist with the preparation of regulatory responses, crisis escalation plans, and audit remediation efforts as needed.
Qualifications
Education
- Bachelor's degree in business, finance, economics, accounting, law, risk management, or a related field.
- A master's degree is preferred.
Experience
- At least 3–5 years of experience in CRA compliance,
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