CRA Officer

Position Purpose
The Community Reinvestment Act (“CRA”) Officer is the second line of defense leader responsible for assisting the Bank with all aspects of our Large Bank CRA Compliance Program. The CRA Officer ensures that Capital Bank meets all applicable laws, rules, and regulations, including but not limited to the October 2023 CRA Modernization Rule and Small Business Lending Section 1071 regulations. The CRA Officer will be responsible for developing and implementing the Bank’s annual CRA strategic plan and will serve as the subject matter expert on CRA regulations and risk management. The CRA Officer will also implement and oversee the Bank’s 1071 Program. This role continuously identifies and implements process improvements to enhance compliance and risk management practices across the organization.

This position has visibility and access to the Bank’s Senior Leaders and Executive Management. The CRA Officer chairs management’s CRA Committee, which is charged with oversight of the Large Bank CRA Examination requirements within the Lending, Investment, and Service Tests, as well as the Bank’s Performance Evaluation. The CRA Officer will coordinate with management’s Investment Committee to ensure appropriate CRA Investments are made throughout the Bank’s expanding Assessment Areas. The CRA Officer will coordinate CRA Service Events throughout the Bank’s Assessment Areas. The CRA Officer will also partner with our lending teams to identify CRA eligible loans and to ensure that lending goals in each of the Bank’s Assessment Areas are met in accordance with the Bank’s annual CRA Strategic Plan. The CRA Officer also serves as the primary point of contact for employees as it pertains to community development initiatives.

Position Responsibilities

• Accountable for updating and maintaining the Bank’s current CRA Public File.
• Develop and implement strategies and processes to ensure compliance with the October 2023 CRA Modernization Rule, including updated policies, standards, and procedures
• Develop, implement, and manage the 1071 Program, including updated policies, standards, and procedures, to ensure compliance with the Small Business Lending Rule
• Maintain and manage all CRA data and reporting systems, including CRA qualified products delivered, loans applied for and granted, and services provided within the Bank’s CRA assessment areas.
• Develop the Bank’s annual CRA Strategic Plan and execution thereof.
• Keep current on changes in CRA regulations and initiate regulatory change management for applicable updates or changes.
• Coordinate the Bank’s community outreach activities and community development service events across all the Bank’s assessment areas.
• Liaises with the Capital Cares Team and the ESG Committee to look for synergies in volunteer CRA service opportunities and reporting those with CRA eligible service hours.
• Serve, where appropriate, as a member of a civic, professional, and/or a community development organization that contributes to the Bank’s CRA goals and objectives.
• Partner with the Bank’s Learning and Development team to ensure appropriate Bank employee and Board of Director CRA and 1071 training is assigned and completed on an annual basis, or more frequently, if regulatory change management is needed.
• Collaborate with first line CRA Partners to ensure CRA compliance is integrated into all business processes and maintain relationships with those partners to ensure goals are met.
• Conduct periodic risk assessments to identify potential areas of non-compliance or risks that exceed the Board approved risk appetite, and develop action plans to remediate/mitigate risks.
• Monitor and evaluate the effectiveness of CRA compliance controls and processes and recommend enhancements as needed.
• Prepare and present reports to senior management and regulatory agencies regarding the Bank’s CRA risk management and compliance activities.
• Serve as a subject matter expert on CRA regulations and risk management, providing guidance and support to other departments as needed.
• Assist in preparation for, and management of CRA examinations and internal audits, including coordination and the collection of information, materials, and other data.
• Periodic review to confirm any changes in the Bank’s CRA assessment areas and adjust CRA Strategic Plan and goals, as appropriate.

Education and Experience Required

• Bachelor’s degree in accounting, finance, business administration, or related field preferred but not required
• 6-8 years of experience implementing and applying CRA regulatory requirements and program management required
• Expert knowledge of all applicable laws, rules, and regulations as it pertains to Large Bank CRA and 1071 Programs required
• Prior experience in a CRA Officer role within a financial institution preferred
• Office of the Comptroller of the Currency Large Bank CRA experience preferred
• Active professional certifications highly competitive
Experience in partnering with senior leaders and Executive Management to execute on business requirements for CRA and 1071 compliance.

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Technical Knowledge and Skills

• Experience in managing technical software; specific experience with CRA Check, Fair Lending Magic, Fair Lending Patterns, Kadince, etc. preferred.
• Demonstrated ability to read and interpret manuals, reports, governmental regulations, directives, policies, procedures, and other correspondence.
• Demonstrated ability to create policies, standards, and procedures to ensure compliance with CRA and 1071 laws, rules, and regulations.
• Demonstrated ability to report, test, and implement corrective actions related to CRA and 1071 program requirements.
• Ability to collaborate and communicate effectively across business lines.
• Strong verbal and written communication skills.
• Ability to meet strict deadlines.
• Proven analytical and critical thinking skills, with extreme attention to detail.
• Strong time management and organizational skills.
• Demonstrated ability to develop business requirements, create scorecards, and make appropriate recommendations on any third-party vendor support needed.
• Passionate about making a positive impact in the community.
• Proficient in Microsoft Office software suite (Word, Excel, Outlook, SharePoint, etc.)

Additional Details

Periodic travel on an annual basis to each of the Bank’s assessment areas to ensure appropriate coordination and participation in CRA Service events and to meet with the local CRA lending teams in each assessment area.

Compliance

It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.

The above mentioned are intended to describe the general nature and level of work performed rather than to be an inclusive list of all duties, responsibilities and skills required for the position. Job duties may be changed at any time at management’s discretion. The job description is not intended to create contractual obligations of any kind.

Capital Bank, N.A. is an affirmative action and equal opportunity employer.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)