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VP, Fair Lending Reporting

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Synchrony

18d ago

  • Job
    Full-time
    Senior Level
  • Banking & Finance

AI generated summary

  • You need a master's degree plus 5+ years in regulatory reporting/compliance, or a bachelor's with 8+ years. Experience with credit cards, regulatory submissions, 5+ years of programming, and 2+ years with SAS Viya or Tableau is preferred.
  • You will lead small business lending data preparation and submission to the CFPB, ensuring compliance, accuracy, and timely reporting under Section 1071 of the Dodd-Frank Act.

Requirements

  • Master’s degree and minimum of 5+ years of experience in regulatory reporting or compliance in financial services, with a specific focus on regulatory reporting frameworks OR a bachelor’s degree with 8+ years of similar experience.
  • Experience and familiarity working with bank credit card products and associated regulations preferred.
  • Proven experience preparing and submitting reports to regulatory agencies such as the CFPB, Federal Reserve, or other financial regulators is preferred.
  • 5+ years of proficient programming language experience.
  • 2+ years of experience with SAS Viya, Data Lake, Tableau, or similar data visualization tools.

Responsibilities

  • Lead the preparation, validation, and submission of small business lending data to the Consumer Financial Protection Bureau (CFPB) in compliance with Section 1071 of the Dodd-Frank Act.
  • Role will focus on compliance with the regulatory reporting obligations for small business lending activity, as defined by the CFPB.
  • Ensure that reports meet all deadlines and adhere to the specific format and content requirements set forth by the regulators.
  • Validate that the data is complete, accurate, and consistent before submission to the CFPB.
  • Stay current on changes to Section 1071 and related regulatory guidance issued by the CFPB.
  • The ideal candidate will have experience in regulatory reporting, with a specific understanding of the data elements and reporting deadlines established under Section 1071, and will play a critical role in ensuring timely, accurate submission of reports to regulatory bodies.

FAQs

Do we support remote work?

Yes, we support remote work in a hybrid format, allowing flexibility to work from home, near one of our Hubs, or in the office.

What is the primary responsibility of the VP, Fair Lending Reporting?

The primary responsibility is to lead and develop the preparation, validation, and submission of small business lending data to the Consumer Financial Protection Bureau (CFPB) in compliance with Section 1071 of the Dodd-Frank Act.

What qualifications are required for this position?

The role requires a Master’s degree with a minimum of 5 years of experience in regulatory reporting or compliance in financial services, or a bachelor’s degree with 8 years of similar experience, along with specific experience in regulatory reporting frameworks.

What tools or skills are preferred for this role?

Preferred skills include experience with programming languages, SAS Viya, Data Lake, Tableau, and familiarity with bank credit card products and associated regulations.

Will this position involve interaction with regulatory agencies?

Yes, this position will involve preparing and submitting reports to regulatory agencies like the CFPB, Federal Reserve, or other financial regulators.

What is the salary range for this position?

The salary range for this position is $130,000.00 - $210,000.00 annually, with eligibility for an annual bonus based on individual and company performance.

Are there any requirements regarding legal authorization to work in the U.S.?

Yes, legal authorization to work in the U.S. is required, and we will not sponsor individuals for employment visas for this job opening.

Is prior experience with Section 1071 important for this role?

Yes, understanding of Section 1071 of the Dodd-Frank Act is highly desired as it relates directly to the responsibilities of this position.

Does the company focus on diversity and inclusion?

Yes, Synchrony is committed to building a diverse, inclusive culture where all individual perspectives are valued and celebrated.

What should an applicant do if they require a reasonable accommodation during the application process?

Applicants who require reasonable accommodations should contact the Career Support Line to discuss their specific situation.

Finance
Industry
10,001+
Employees

Mission & Purpose

At Synchrony, our driving force is to be essential to people's everyday lives by making it easier for the many millions of people who rely on us to access their essential needs and everyday wants with consumer financing that works for them – from their first credit card to a lifetime of flexibility. We do this by helping people make informed, smart credit choices so they can live healthier financial lives and by connecting them to Synchrony's ecosystem of hundreds of thousands of small- and mid-sized businesses and health and wellness providers that are the backbone of the U.S. economy.