Fair Banking Intern

Stock Yards Bank & Trust•Louisville, KY

9h•Onsite

About The Position

The Fair Banking Intern is responsible for assisting with analysis and assessment of data related to laws and regulatory requirements of Fair Lending, Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA) and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). This role will assist in second line of defense monitoring and oversight activities.

Requirements

Currently enrolled in a bachelor’s degree program in Economics, Finance, Public Policy, Law or related field
Strong organizational and time management skills
Strong analytical skills and attention to detail
Ability to function in a multi-task environment
Ability to work independently
Excellent verbal and written communication skills
Ability to define problems and propose solutions
Proficiency in Microsoft Office Suite
Ability to read, analyze and interpret government regulations, trade journals, and legal documents

Responsibilities

Assist in analyzing loan data to identify patterns and ensure compliance with fair lending regulations
Conduct research on fair lending laws and recent enforcement actions to inform internal practices
Assist in responding to customer inquiries related to fair lending policies
Collaborate with the Compliance Department to integrate fair lending considerations into broader compliance initiatives
Monitor, ensure and maintain loan information quality and integrity to ensure regulatory compliance
Assist in identifying tracking and analyzing systematic and/or operational exceptions regarding data collection for all loans to identify patterns and ensure compliance with fair lending regulations
Support the preparation of reports on a scheduled basis for distribution to the applicable business units (including, but not limited to) for areas related to: Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), Redlining, pricing disparities, disparate impact or treatment, Branch and ATM distributions, analysis of loan distribution patterns, analysis of peer and demographic data, market penetration, and monitoring and analysis of policy exceptions
Utilize resources to stay up to date with regulatory changes related to HMDA, CRA, Fair Lending, UDAAP, ECOA, Fair Lending and Section 1071 of the Dodd Frank Act
Participate in new product development and work closely with Compliance Advisors and applicable business units in the assessment of risk associated with these products
Assist in the investigation of consumer complaints for potential Fair Lending and UDAAP elements using the Bank’s complaint tracking system
Assist with the communication of compliance initiatives to partners throughout the bank, including contributing to the departmental newsletter
Assist in the development and communication of regulatory policies and procedures to management for review and approval
Assist with regulatory compliance training
Maintain understanding of the bank’s products, services, geographic locations, and the potential risks associated with those activities
Conduct special projects as the need arises
Assist with other compliance reviews as assigned
Perform other duties, as assigned