The Community Reinvestment Act is intended to encourage financial institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations. The CRA requires that each insured institution's record in helping meet the credit needs of its entire community be evaluated periodically.

This role directs the risk management efforts for compliance with the Community Reinvestment Act, and develops, implements, and administers the Corporate CRA plan for each region using knowledge of best practices and growing industry experience. Responsible for the accuracy, timeliness and completeness of documentation and reporting from appropriate line of business. Ensures each LOB is adhering to the risk management strategy of the assigned credit risk discipline and develops strategies to bring the regions into compliance with complex and regional regulatory and policy requirements. Ensures the proper documentation is completed when strategy changes are made.

Community Reinvestment Act, Sr Specialist responsibilities:

• Independently determines the appropriate balance of investments, loan commitments and community activities to align with CRA corporate goals and manages toward the appropriate allocation. Demonstrates expert knowledge when reviewing and validating potential CRA qualified activities. Recommends nuanced policy and procedure improvements.
• Conducts risk assessments, reviews, and writes CRA compliance policies, procedures, and processes, and monitors the Bank’s compliance with regulatory requirements.
• Advises senior and executive level management on status of Corporate CRA compliance and opportunities to meet corporate objectives
• Directs analyses of existing and proposed legislation, regulatory announcements and industry practices that are applicable to the assigned credit risk discipline in order to contribute to the organization's development and implementation of procedures to meet existing and upcoming credit management requirements specific to each region.. Contributes to the development of organization-wide projects and programs to improve risk management for the assigned risk discipline.
• Maintains an expert knowledge and skillset of all applicable banking laws, rules, and regulations, and serves as the Bank’s subject matter expert on CRA laws, rules, and regulations
• Supports the Bank’s CRA objectives by participating in external community development activities

Required Skills:

• Bachelor‘s degree in business, economics, public administration or related technical discipline is required
• 7 years of total work experience is required
• 5 years’ experience in risk, compliance, internal audit, or 1LoD is required
• Prior experience supporting Community Reinvestment Act initiatives is needed
• Prior experience/background in credit risk preferred.
• Strong familiarity with the Community Reinvestment Act

Preferred Qualifications:

• MBA, MPA, or a graduate degree in a similar and/or related field is preferred
• 10 years or more of total work experience is preferred
• Experience with RiskExec software is preferred
• 2 years’ experience exclusively supporting Community Reinvestment Act initiatives is preferred

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BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $77,750 and $133,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.

Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.