Fair Lending Compliance Technical Business Analyst

As a Fair Lending Compliance Technical Business Analyst at Cross River, your main responsibilities include collaborating with the Compliance team to evaluate the performance of financial products related to fair lending, conducting transactional testing, and identifying control deficiencies. You will also be involved in statistical analysis and ensuring that processes are compliant with fair lending regulations.

To qualify for the Fair Lending Compliance Technical Business Analyst position at Cross River, candidates must possess a Bachelor’s degree in a financial or quantitative field, alongside three or more years of relevant experience in finance or banking. Proficiency in data analysis tools and excellent communication skills are also essential.

Key skills for a Fair Lending Compliance Technical Business Analyst at Cross River include proficiency in data analysis techniques, strong problem-solving skills, a solid understanding of lending processes, and the ability to clearly communicate intricate ideas. Experience with technical tools such as APIs, SQL, and compliance frameworks will be advantageous.

Cross River ensures compliance by conducting thorough evaluations and testing of lending practices, utilizing data analysis to identify risks, and collaborating with FinTech partners on corrective actions. The role of the Fair Lending Compliance Technical Business Analyst is crucial in maintaining these standards.

API testing is vital for the Fair Lending Compliance Technical Business Analyst role at Cross River because it facilitates seamless integration of FinTech products. Proper testing ensures that data flows correctly and that financial transactions comply with regulations, ultimately safeguarding fair lending practices.

Approaching data analysis from multiple FinTech partners involves gathering data from various sources, ensuring accuracy, and then applying statistical techniques to identify trends and risks. Clear documentation and cross-team collaboration will facilitate a thorough analysis.

In answering this question, detail your previous experience with specific compliance regulations, how you ensured adherence to those regulations, and any instances where you identified and rectified compliance issues.

Using visual aids, simplified language, and relevant examples can help convey complex findings. Additionally, focusing on the implications of the analysis for stakeholders’ interests will make the information more relatable.

Prioritization involves assessing project deadlines, understanding the impacts of tasks, and maintaining organized schedules. Utilizing tools like project management software can also streamline this process.

When discussing improvements, highlight specific processes you identified and the rationale behind your changes. Discuss the strategies you implemented and the positive outcomes as a direct result of your initiative.

Discuss your familiarity with data quality assurance practices, including the methods you use for validating and testing data, and any experience you've had ensuring testing methodologies align with compliance requirements.

Staying informed about changes in regulations involves regularly reading industry publications, participating in webinars, and networking within the finance and compliance communities to share insights and best practices.

Share specific projects or analyses you've conducted, detailing the statistical methods you applied and how your findings impacted business decisions related to lending practices or compliance.

Highlight the data analysis tools you have experience with, such as Excel, SQL, API testing tools, and any project management tools relevant to tracking compliance tasks or data remediation efforts.

Addressing compliance issues requires prompt actions: document all findings clearly, communicate with relevant stakeholders immediately, and propose remediation plans based on regulatory standards and best practices.