Director Fair Lending & Banking SVP

Job Description Director of Fair Lending & Responsible Banking

The Director of Fair Lending & Responsible Banking is responsible for overseeing Comerica's Fair Lending and Responsible Banking Program (the "Program") to ensure compliance with Fair Lending and responsible banking laws and regulations. This role involves developing/enhancing program policies and procedures, planning/executing fair lending testing and monitoring and executing risk assessments. The Director collaborates with various departments and provides guidance and standards for business lines to carry out fair lending and banking compliance responsibilities.

• Participates in industry forums to stay abreast of all fair lending laws and regulations.
• Maintains the Bank's fair lending and responsible banking policies, procedures, standards, and Program documents.
• Continuously assesses and enhances the Program, incorporating industry best practices.
• Advises senior leadership on fair lending implications of new products, services, or business strategies.
• Collaborates with the lines of business to ensure a unified approach to fair lending and responsible banking compliance.
• Identifies and escalates fair lending and responsible banking concerns and ensures appropriate remediation as needed.
• Maintains accurate and comprehensive documentation of Program initiatives, assessments, and remediation.
• Develops and implements appropriate fair lending and responsible banking testing and monitoring programs including regression analysis, redlining analysis and fair servicing testing.
• Conduct regular risk assessments to identify potential fair lending risks and develop strategies to mitigate them.
• Analyze lending data to identify patterns, disparities, and potential discriminatory practices and taking action, as necessary.
• Prepare and submit reports to senior leadership, regulatory bodies, and stakeholders detailing Program effectiveness.
• Build strong partnerships across the organization and provide advice to ensure a unified approach to fair lending and responsible banking compliance.
• Periodically review business unit policies, procedures and controls to ensure they promoted fair lending and responsible banking and meet regulatory requirements.
• Identifies appropriate training for the organization to enhance awareness of fair lending principles and foster a culture of compliance.
• Review new products and services, third party vendors and organizational changes to identify fair lending issues and identify remediating action.