CRA & HMDA Compliance Specialist II

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Company: BOK Financial
Location Tulsa, OK
Date Posted: July 30, 2015
Source: BOK Financial
Job Location: Tulsa, OK
Job ID: 2015-12876

Other Location: US-OK-Tulsa

Job Details:

Overview:

BOK Financial (BOKF), based in Tulsa, Oklahoma, is one of the top 25 bank holding companies in the U.S. The company's stock is publicly traded on NASDAQ under the ticker BOKF. BOK Financial's holdings include BOKF, NA, BOSC, Inc., Cavanal Hill Investment Management, Inc. and The Milestone Group, Inc. BOKF, NA operates the TransFund electronic funds network and seven banking divisions: Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Oklahoma, Bank of Texas, and Colorado State Bank and Trust.

Our continued growth can be attributed to focusing on core objectives which include investing in top talent, maintaining diverse revenue streams and expanding our regional presence with the goal of becoming the premier financial services provider in each of our markets.

Join us as a CRA Compliance Specialist II

The CRA Compliance Specialist II is primarily responsible for administering a comprehensive quality control program that provides reasonable assurance that Community Reinvestment Act (CRA) Compliance is in compliance with the Federal and State Banking Laws and Regulations; ensures monitored loans comply with the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act (CRA); consults with various departments regarding the application of various Consumer Laws and Regulations; and obtaining a minimum of a “Satisfactory” Lending rating when examined by the OCC or CFPB.

Responsibilities:

* Uses independent judgment to analyze loan documents to determine if loan meets regulatory guidelines as set forth by the Home Mortgage Disclosure Act (HMDA); ensures loans that benefit the credit need of the community served by affiliate banks are accurately reported to the Federal Reserve Board; consults with Lenders in order to obtain additional information needed for regulatory reporting purposes; as well as educating Lenders about HMDA requirements.
* Uses independent judgment to analyze loan documents to determine if loan meets regulatory guidelines as set forth by the Community Reinvestment Act (CRA); ensures loans that benefit the credit need of the community served by affiliate banks are accurately reported to the Federal Reserve board; consults with Lenders in order to obtain additional information needed for regulatory reporting purposes; as well as educating Lender on CRA requirements.
* Analyzes captured loans to assure quality control on data integrity according to the edit validation and geocoding rules of the Community Reinvestment Act and the Home Mortgage Disclosure Act (the federal tolerance is a 5% error rate); reviews the integrity of the data maintained in the CRAWiz database to resolve errors and technology issues to assure correctness of written documentation as required by Federal Examiners.
* Based on their Quality Control findings, interprets and communicates deficient CRA or HMDA compliance data.
* Special projects and targeted audits: performs targeted audits and assists with special projects as outlined and defined by manager. Utilizes independent and unbiased judgment when making error determinations and reporting the same to management.
* Verifies Quality Control through comprehensive audits and submits quarterly mock submissions with supporting documentation (there is 0% tolerance rate) of all CRA, Home Mortgage Disclosure Act. Ensures no loans are omitted and continues to improve import formats to contain the most reliable data from the Bank’s loan systems.
* Keeps informed of current CRA/HMDA compliance issues and updates. Informs ERU managers regarding new products and loans which may be captured and reported as CRA or HMDA.

Qualifications:

This level of knowledge is normally acquired through completion of an Associate’s degree in a business related field and 3-4 years experience in the financial institutions regulatory and compliance field or equivalent work related experience of 6-7 years.

* Advanced knowledge of loan activities including understanding of common credit products, delivery mechanisms, and operational practices.
* Advanced knowledge the Community Development Act and the Home Mortgage Disclosure Act and working knowledge of the, Fair Housing Act, Unfair, Deceptive and Abusive Acts and Practices, Truth in Lending and the Equal Credit Opportunity Act.
* Thorough knowledge of commercial and/or small business, consumer lending, loan documentation, and loan servicing requirements.
* Thorough knowledge of credit underwriting, documentation, loan policy and regulations.
* Thorough knowledge of Wolters Kluwer Financial Services CRAWiz software.
* Excellent oral and written communications skills.
* Excellent PC including word processing and spreadsheet software.
* Strong analytical, organizational, and problem solving skills.
* Ability to read, accurately interpret and communicate in an understandable format federal and state regulatory requirements

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