Community & Econ. Dev. Mgr. I

Unclassified - Chicago, IL

Full-time - Mid Level

Chicago, IL

About the position

The position is responsible for managing Affiliate risk associated with fair lending and Community Reinvestment Act (CRA) practices and policies. The individual in this role must provide local expertise and effectively communicate with the Affiliate senior management team as well as other key external stakeholders. A significant part of the job involves leading the implementation of the Bancorp's CRA/Fair Lending strategic plan, which aims to enhance Affiliate performance and mitigate associated risks. This includes analyzing and presenting Quarterly Affiliate Reports related to CRA and fair lending to the affiliate senior management, ensuring compliance with all risk management policies, and meeting all Community Affairs/CRA program deadlines. The role also requires the completion and submission of quarterly and annual Self-Assessment Reports, as well as mandatory CRA & Fair Lending Training as part of a Continuing Education Program. The individual will manage the Affiliate's FHLB-AHP process, ensuring compliance with risk management procedures while leveraging business opportunities associated with AHP transitions. Understanding and promoting the use of various community development and reinvestment programs, as well as engaging with community development boards and committees, are essential functions of this position. Additionally, the position involves developing and cultivating relationships that lead to measurable lending and deposit opportunities for Fifth Third, managing issues from the Fifth Third CRA and Fair Lending Risk Management Tracking System, and establishing a strong network of market community development intermediaries. The individual will also manage the Foundation process for CRA funding and ensure compliance with policies and procedures related to community development service products.

Responsibilities

• Analyze and present Quarterly Affiliate Reports (CRA and fair lending) to affiliate senior management.
• Complete and submit quarterly and annual Self-Assessment Reports.
• Complete mandatory CRA & Fair Lending Training (Continuing Education Program).
• Meet all Community Affairs/CRA program deadlines including submission of performance data, i.e., affiliate funded investments, community service activities and CDL reporting.
• Comply with all risk management policies, procedures and standards as outlined in CRA Alerts and directives issued by Community Affairs/CRA.
• Manage Affiliate's FHLB-AHP process ensuring compliance with risk management procedures as well as leverage business opportunities associated with AHP transitions.
• Understand and promote use of FHLB-Welcome Program and other subsidy mortgage financing subsidies that strengthen affiliate's lending performance.
• Understand and promote use of community development/reinvestment programs/initiatives/subsidies available via state and municipal governments that advance the Affiliate's community development lending.
• Serve on community development related board/committee/taskforce(s) in assigned market(s).
• Meet with Fifth Third CDC representatives to discuss and explore possible lending and investment opportunities in assigned markets.
• Develop and cultivate relationships that lead to measurable lending and deposits opportunities for Fifth Third.
• Communicate and successfully manage issues from the Fifth Third CRA and Fair Lending Risk Management Tracking System.
• Establish and maintain a strong network of market community development intermediaries (including government agencies), and non-profit and for-profit organizations.
• Manage Foundation process for CRA funding and ensure compliance of policies and procedures.
• Manage Bancorp community development service products in compliance with corresponding policies and procedures.

Requirements

• Experience in fair lending and CRA practices and policies.
• Strong analytical skills to analyze and present reports to senior management.
• Excellent communication skills to effectively interact with stakeholders.
• Ability to manage multiple projects and meet deadlines.
• Knowledge of community development and reinvestment programs.
• Experience in managing compliance with risk management policies.

Nice-to-haves

• Experience in community development lending initiatives.
• Familiarity with FHLB programs and subsidies.
• Previous experience in a supervisory role.