Compliance Risk Manager

Background

Community Reinvestment Fund, USA (CRF) is a community development leader committed to bringing economic equity to communities across the country, in order to generate greater investment in the communities that need it most.

Community Reinvestment Fund, USA (CRF) is dedicated to building and sustaining a truly diverse, equitable, and inclusive culture. These are not just words on a page – Diversity, Equity, and Inclusion are top priorities for the organization, and tie deeply to each of the core values and overall vision for the future.

CRF’s Theory of Change

CRF’s Theory of Change is the strategic framework used to guide its work. While CRF’s mission remains constant, the Theory of Change outlines how it contributes to the changes it seeks.

The challenge CRF works to address:

The current economic system, perpetuated by institutional racism, individual biases and disparities, is unjust. It fosters the inequities that are causing widening disparities in incomes, wealth, and opportunity gaps.

How We Help

Together with its partners – including community leaders, nonprofit lenders, financial institutions, foundations and more – CRF is creating new strategies and technologies that build stronger local economies, create jobs and support economic mobility.

CRF is headquartered in Minneapolis, Minnesota. For further information, please visit www.crfusa.com.

Summary

The Compliance Risk Manager is responsible for performing various risk functions which support compliance with laws, rules and regulations associated with Corporate Compliance, the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) regulations, the USA Patriot Act, Customer Identification Program, Beneficial Ownership and Office of Foreign Asset Control (OFAC) requirements, as well as maintaining day-to-day regulatory and compliance tasks to include the regulatory systems and notifications, compliance notices.

The position will report to the Director of Risk & Compliance and will work closely with teams across the organization including the Lending team, Credit team, Legal, Finance, and focused on risk and compliance. The successful candidate may be required to provide additional support and/or perform tasks as requested in the areas of audit, risk, third-party vendors, and process governance.

Responsibilities

Role Accountabilities (include, but not limited to)

•  Contribute to administering, coordinating, developing, implementing, and maintaining policies and procedures as part of the compliance department’s oversight of risk and compliance framework.
• Design and perform Monitoring & Testing Activities including controls evaluation/testing, triggers monitoring to measure adequate threshold, taking into consideration impacts to control environment.
• Participate in license acquisition and maintenance as required on a quarterly, annual or ad hoc basis using the NMLS system and/or state regulator license maintenance procedures.
• Support the Director of Risk and Compliance with tasks associated with risk assessment including risk inventory, review of policies and procedure, and analysis of identified risks.
• Support internal and external audit deliverables including responding to RFIs, remediation of findings, among others.
• Conduct ad hoc projects that involve conducting research and data gathering for the completion of compliance requirements for new products & services.
• Coordinate and submit the quarterly Securities and Exchange Commission Reporting related to CRF Asset Backed Securities.
• Knowledge of CDFI and CRA requirements desired as successful candidate will participate in the Maintenance and collection of documentation to support CDFI certification related to governing board accountability and CDFI Financing Entity Test.
• Support in administrating and monitoring compliance requirements for the Credit and Lending verticals.
• Contribute to the oversight of BSA/AML for the commercial loan programs.

Requirements

Professional Experience and Skills

• A minimum of 5 years of experience in regulatory compliance in the banking/commercial lending industry.
• Experience with small business lending.
• Solid understanding of commercial lending compliance, NMLS, and CRA.
• Exhibits excellent written and verbal communication, decision quality, interpersonal skills and a high level of attention to detail – strong commitment to internal stakeholders.
• Proactive in identifying and resolving issues.
• Able to assess risks and provide thoughtful advice in a fast-paced environment
• Work collaboratively on cross-functional teams in an efficient and productive manner to effect change and achieve common goals.
• Experience managing license acquisition and maintenance related to NMLS and other state regulator licensing requirements.
• Well-versed in regulatory reporting requirements.
• Able to independently solicit information and input from different stakeholders as necessary and appropriate
• Proactive in identifying compliance gaps and implementing corrective actions.
• Highly skilled in managing compliance related projects such as audits, policy rollouts and updates, and enhancements.
• Proficient user of Excel and reporting software for data analysis to monitor compliance trends and identify risks.
• Strong ability to identify, assess, and mitigate compliance risks and implement risk control processes.
• Possess an interest in and willingness to learn new skills
• Understand and follow complex workflow processes and organizational policies
• Experience working with or knowledge of Community Development Finance Institutions (CDFIs) or industry
• Ability to thrive in a fast-paced environment and successfully manage tight deadlines with minimal to no supervision and across multiple time zones

Educational Requirements:

Bachelor’s degree in Business Administration, Finance, or other closely related field of study and/or equivalent education and working experience.

Compensation and Benefits

What We Offer

A collaborative working environment comprised of driven and highly engaged individuals committed to diversity, equity, and inclusion and the mission, vision and values of CRF. CRF is proud to extend its employees a wide array of benefits including, but not limited to:

• Most positions offer flexibility for remote work
• Health, dental, and vision insurance
• 401K with a 5% match – eligible to participate after 6 months
• Paid Time Off (PTO)
• Paid Sick Time
• Hybrid Reimbursement Quarterly
• Educational Assistance
• Long-Term and Short-Term Disability
• Life Insurance
• 10 Federal Holidays plus 2 Floating Holidays

How to Apply

To apply for this position, please email your resume and cover letter to [email protected]