CRA Officer Policy and Procedures

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Question:

I am looking for a CRA Officer Policy and Procedures. Something that spells out what this person holding the title of CRA Officer should be doing.

Answer:

This could vary by organization and differ if the CRA officer has a primary responsibility as a marketer, lender, operations officer, or is a dedicated CRA officer. It would also vary if you have others do CRA and HMDA tracking, analysis and reporting, or if the CRA officer does it. Big bank/small bank will have differences as well.

Personally I'd look at the requirements of CRA to your institution, determine what has to be done, as well as how much your institution wants to do (wanting an Outstanding will cause more work than wanting only a Satisfactory rating) and based on those requirements, divide up the tasks among one or more parties.

This isn't a one-size fits all. While there will be standard practices, there can also be a lot of customization to best fit your needs.

First published on BankersOnline.com 3/20/06