Community Reinvestment Act Officer

Come Grow with Us and Join an Award-Winning Organization! Stearns Bank is looking for a Community Reinvestment Act Officer. This is a remote-eligible position headquartered out of St. Cloud, Minnesota.

JOB SUMMARY

Responsible for maintaining Stearns Bank’s Community Reinvestment Act regulatory rating at satisfactory or better and compliance with federal Community Reinvestment Act regulations.

Starting annual salary of $85,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

RESPONSIBILITIES

• Development of the annual CRA performance plan and execution thereof.
  • In concert with the CEO, President, CFO, Controller and Chief Compliance Officer, develops, presents, and obtains business and budget approval for the bank’s annual CRA performance plan, including periodic review of the appropriateness of the bank’s CRA assessment area geographies. Responsible for the execution of the plan, coordinating third party vendors/partners and bank staff in the delivery of CRA investments, products, and services in our CRA assessment areas.
• Community outreach and identification of CRA pertinent needs of our assessment area.
  • Works with senior management and CRA & Fair Banking Program Manager to assist in developing programs and setting goals to meet needs as they are identified, within the context of the bank’s business model and peer performance.
• In close connection with CRA & FARB Prog. Mgr. keeps abreast and continues to build existing knowledge and understanding of emerging CRA & 1071 rules, impact, and changes.
• Develop and coordinate training to bank staff in delivering CRA related programs.
  • Working in concert with the senior management and training teams, delivers training to management on CRA compliance requirements and the bank’s CRA plan, and delivers training to facilitate the delivery of CRA qualified investments, products and services by line and staff personnel who are in a functional position to contribute to CRA performance.
• Coordination of third parties and bank staff in delivering CRA related programs.
• Maintenance and management of CRA recording/reporting systems.
  • Creates, updates, and maintains continuous records of CRA qualified products delivered, loans applied for and granted, and services provided within the CRA assessment area to facilitate periodic review of the bank’s CRA compliance level and CRA performance. Updates the CRA Public File as needed. Maintains CRA-Whiz software (or equal) for report and analytics purposes.
  • Responsible for conducting monthly FFIEC CRA LAR (Loan Application Reporting) reconciliation, Marquis Centrax import/upload, and subsequent annual LAR filing.
• In close concert with Community Development Team and CRA & Fair Banking Program Manager, provides insight into CRA-eligible lending and community development activities.
  • Reports on CRA-eligible lending, investment, and community development activities to achieve an aspirational outstanding rating.
  • Provides purchasing advice & CRA eligibility guidelines. Serves as a resource to “Purchasing & Investments” group who seek guidance on purchasable CRA qualified loans.
• Ongoing monitoring of and reporting on the bank’s CRA performance and compliance standing to senior management and Enterprise Risk Management Committee.
  • Hosts weekly CRA Meetings, setting agenda and keeping all attendees abreast of in progress tasks and projects.
  • Maintains an ongoing monitoring program which will provide management with timely information about the bank’s CRA compliance position and gaps in CRA delivery of services, products, and investments to allow management to modify its goals and activities as required to maintain, and improve, a Satisfactory CRA compliance rating.
• Other duties as required.
• Loss prevention and security as applicable for this position.
• Performs related work as required.
• Maintain a working knowledge of all legal and regulatory compliance issues as they pertain to this position.

REQUIREMENTS

• Occasionally lift and/or move up to 10 lbs.
• Literacy in English.
• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools, or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk, or hear.
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.

QUALIFICATIONS

• Bachelor’s degree or equivalent from a four-year college or university; or 8 years or greater related experience and/or training; or equivalent combination of education and experience.
• Required deep knowledge of CRA regulatory compliance requirements obtained with at minimum 3-5 years of experience directly working with Community Reinvestment Act regulatory requirements and application of CRA requirements.
• Skill in the selection, development and management of vendors and community partners.
• Strong collaboration/cooperation skills.
• Strong oral and written communication skills.
• Attentive to deadlines and detail.
• Effective decision-making and problem-solving skills.

THE COMPANY

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.

Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation.

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.