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COMPLIANCE SPECIALIST

REGULATORY COMPLIANCE (FAIR LENDING)

FIRSTBANK PR

Our Company

At FirstBank PR, we strive to be a trusted advisor to our clients and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.

Do you have a passion for helping customers, building relationships, and delivering extraordinary, personalized customer service? If your answer is yes, FirstBank is the number one place for you.

A Brief Overview

The Compliance Specialist conducts statistical and investigative analysis, including comparative file reviews in all lending areas and life cycles to identify areas of fair lending concern to improve internal controls and reduce the bank’s reputation and regulatory risk exposure. The Compliance Specialist supports the Fair Lending Officer regarding Fair Lending compliance matters. The Compliance Specialist executes compliance risk assessment and monitoring reviews according to the annual Risk Assessment & Monitoring Program.

What you’ll do:

• Performs Fair Lending monitoring of the Bank’s lending portfolios including data collections, planning, fieldwork, and reporting of findings to the corresponding unit.

• Performs descriptive and inferential statistical analysis to determine risk associated with underwriting, pricing, and servicing for mortgage, small business, and consumer lending.

• Acquires data from primary or secondary data sources and evaluates data collection tools and other strategies to optimize efficiency.

• Conducts comparative file reviews, determines root cause for the difference in outcomes, advises on policies or procedures to improve fair lending internal controls, identifies improvements for inclusion in future analysis, and recommends remedial actions.

• Provides overall support in the implementation of regulatory changes and monitoring of the Fair Lending program across all the regions.

• Prepares reports and summaries of fair lending analytic results in non-technical terms.

• Provides support to Fair Lending & HMDA Assistant Manager in providing responses to fair lending inquiries.

• Request and collect databases, polices, procedures, guidelines, and pricing documentation to the corresponding areas. Performs and works with the business units to identify and correct any errors in the data to assure integrity.

• Review policies, procedures, guidelines, and pricing information to assure they are Fair Lending compliant.

• Perform comparative file review to determine if any identified “unconditioned disparity” \outlier was due to the applicant’s creditworthiness or signals the presence of “conditional disparity”.

Other Responsibilities

• Request and collect databases, polices, procedures, guidelines, and pricing documentation to the corresponding areas. Performs and works with the business units to identify and correct any errors in the data to assure integrity.

• Review policies, procedures, guidelines, and pricing information to assure they are Fair Lending compliant.

• Perform comparative file review to determine if any identified “unconditioned disparity” \outlier was due to the applicant’s creditworthiness or signals the presence of “conditional disparity”.

• Document Comparative File review results and assist Fair Lending & HMDA Assistant Manager in the discussion of the result with the corresponding unit.

• Prepares and discusses Fair Lending Monitoring Reports with the business units and follows-up on correction actions resulting from monitoring review reports until final resolution. Ascertain those recommendations addressed observations made and are sufficient to avoid recurrence of the issue noted. Recommendation tracking is completed using the application database.

• Receives and analyzes consumer complaints referred to determine if there are traits indicative of despair treatment on a prohibited basis. Provide feedback and guidance to the Complaints unit in a timely manner. Update and maintain a complaint log accordingly.

- Conducts redlining and marketing analysis. Assist the HMDA and CRA unit in any special project as needed.

• Work collaboratively with Compliance Management and business units to identify and manage Fair Lending risk across the Bank.

• Provide support with quarterly reporting to the corresponding committees regarding the level and direction of Fair Lending risk, status of remediation efforts, and communicate emerging trends or issues.

• Provide Fair Lending training.

• Assists Fair Lending & HMDA Assistant Manager in preparing and documenting the Risk Assessment process.

• Assists Fair Lending Officer in preparing, monitoring and/or answering reports and findings related to the Bank’s Fair Lending & HMDA Exams or other compliance-related information as required by Regulatory Agencies.

• Assist Fair Lending & HMDA Assistant Manager maintain model documentation including written descriptions of regression analysis methodology, data display, conclusions, and recommendations

• Conducts ad hoc testing and reporting as needed.

What you’ll Need:

Bachelor’s degree in Finance, Economics, Business Administration or Accounting or a Associates degree in related field and five years of progressive related experience in compliance, fair lending or conducting quantitative and qualitative analysis.

Competencies

• Fully Bilingual English and Spanish (oral and writing)

• Good verbal and written communication skills with the ability to communicate effectively with all levels of management and demonstrated ability to provide written reports that accurately and clearly summarize issues and present solutions in an understandable and logical manner.

• Understanding statistical principles in performance of regression analysis and adopting appropriate statistical methodologies consistent with the review purpose.

• Microsoft Office skills (Word, Excel, & Power Point)

• Ability to work with a minimum of supervision.

• Analytical thinking capacity.

• Regulatory issues advising capacity.

• Detail oriented, accurate, and organized.

• Good Interpersonal communication skills.

EQUAL EMPLOYMENT OPORTUNITY EMPLOYER