I sent this via e-mail, but thought I would also post hit here for those lurkers who may also want to know:
The job description for CRA Officer will really depend upon how your bank wants to break down the job duties. An outline of all stuff CRA related will include several components from a technical side (the Data submission), a marketing/business development side (otherwise how will you make those Community Development loans and services), a performance review side, and an Investment side.
1. Gather loan data for the submission of the CRA Loan Register due March 1st of each year. This involves determining which loans are reportable, the correct dollar amount to report, and the proper address to use for the geocode. While this description sounds simple, it involves much more work than you can realize until you actually start trying to make these determinations.
2. Submit said loan register.
3. Create and maintain the CRA Public file for both the Main file and the ones to be kept in each branch. Be sure to check the
4. Make sure each branch and the Main Office has the correct CRA Notice posted in the lobby.
5. Maintain a listing and map of the Assessment Area for the Bank.
1. Make contacts with various community groups for Community Deveopment lending, service and investment opportunities.
2. Serve on the Board/Loan Committee/Finance Committe, etc. of groups that provide services to low- and moderate-income persons, or provide affordable housing, or other community development activities.
3. Be prepared to go to meetings, conferences, workshops, and one-on-one contacts with the various players involved in community development activities. Keep up with what regulatory agencies offer in terms of roundables and conferences in this area.
4. Locate businesses in Enterprise Zones, Redevelopment Areas, etc., for Community Development lending opportunities.
5. Prepare a budget of donations for various organizations that provide Community Development services (examples include Habitat for Humanity, a local chapter of a Neighborhood Housing organization, small business development or technical assistance providers, homeless shelters, child care centers in low/mod income areas, etc.)
1. Gather information on the community development lending, service and investment activity. Survey officers of the bank to locate any organizations they are involved with that can be considered for community development service credit. Review investments and donations that qualify for community investment credit. Review the loan performance from the Small Business lending data and HMDA datea (whichever or both as applicable to your bank).
2. Prepare an analysis of the Bank's performance under the 3 tests in the Large Bank exam.
3. Present this information to Management (and/or the Board as appropriate) so they understand what the bank might expect during an exam. Present recommendations for enhancement to any areas where the performance is not strong.
1. Review the appropriateness of major Community Development investments such as mortgage-backed securities comprised of loans to low- and moderate-income homeowners (making sure the securities are not backed by Predatory Loans!), Tax Credits, Community Development Corporations, etc. Many of these investments carry an entry level price tag of $1Million or more, so investments must be considered from a safety and soundness perspective, a market and interest-rate risk perspective, as well as the Community Development merit.
2. Prepare a budget for Community Development Investments that is appropriate for the size of your bank. Review Performance Evaluations for banks that are similar in size to your own to find out what dollar amount of Investment has earned a rating that you would be comfortable with.
I know the above is not a complete list, so folks, please add your items below!
Regulations are a poor substitute for ethics.