TENTATIVE

          Occ. Code 0306100

New York State Department of Civil Service

Classification Standard

BRIEF DESCRIPTION OF CLASS SERIES

            Positions in this series coordinate the evaluations of fair lending practices of financial institutions regulated by the New York State Banking Department.  They determine the validity of complaints alleging discriminatory practices by financial institutions; and lead efforts to end predatory lending by non-prime or sub-prime lenders.

            These positions are found only in the Banking Department.

DISTINGUISHING CHARACTERISTICS

            FAIR LENDING SPECIALIST 1: full performance level; non-competitive jurisdictional class; examines industry compliance with fair lending practices.

            FAIR LENDING SPECIALIST 2: first supervisory level; competitive jurisdictional class; directs the most complex investigations and evaluations of industry compliance with fair lending practices.

            DIRECTOR CONSUMER LENDING REGULATION AND COMPLIANCE: one-position class; non-competitive jurisdictional class; coordinates Bankings efforts to end predatory lending. 

ILLUSTRATIVE DUTIES

            FAIR LENDING SPECIALIST 1

            Under the general direction of a Fair Lending Specialist 2, coordinates fair lending examinations, reviews consumer complaints that allege discriminatory practices; recommends investigations of allegations of discriminatory practices; investigates regulatory compliance with Executive Law Article 15, Section 296(a), New Yorks Fair Lending Statute, and applicable federal fair lending laws; develops statistical models for sampling and reviews files to determine an institutions level of involvement in discriminatory practices; determines the product and sample size to be reviewed in the examination; provides technical assistance to Bank Examiners on the appropriateness of internal controls for fair lending at a particular financial institution; drafts First Day Letters identifying files that must be made available by the institution for review by the Banking Department; drafts memoranda on alleged fair lending violations and recommends corrective actions; assists supervisor in developing training and technical guidance on fair lending practices for Bank Examiners and other Department staff.

            FAIR LENDING SPECIALIST 2  

            Under the general direction of a non-competitive Director Consumer Lending Regulation and Compliance; oversees fair lending examinations that entail a high degree of complexity and risk of discriminatory practices, including large money center banks, no-prime and sub-prime lenders; supervises Fair Lending Specialists 1; reviews consumer complaints that allege discriminatory practices that involve unusual or complex underwriting or servicing issues; investigates complex regulatory compliance issues, including predatory lending abuses and sub-prime lending abuses, with regard to fair lending, Part 41, and general regulatory compliance matters; designs fair lending tests for each institution examined and determines the best available set of methods and software for use in fair lending examinations; approves the final draft of the First Day Letter and determines the sufficiency of an institutions response; coordinates with federal counterparts on joint and concurrent fair lending examinations; serves as liaison with the Consumer Services Division, the Mortgage Banking, and Licensed Financial Services Divisions; monitors financial institutions examination results to ensure the accuracy of the conclusions and recommendations made by subordinate staff; advises senior management on examination findings and recommends corrective actions for non-compliant financial institutions; and develops and presents fair lending training programs. 

            DIRECTOR CONSUMER LENDING REGULATION AND COMPLIANCE

            Supervises Fair Lending Specialists 2; trains staff in methods to use in investigating predatory lending; develops training for staff on fair lending laws; assists the Complaints Unit in determining the validity of discriminatory claims against financial institutions; oversees the fair lending component of compliance examinations; develops statistical models for sampling and reviewing loan files to determine whether financial institutions discriminate; guides Bank Examiners in selecting branches for examinations; conducts research on tools to enhance examiners ability to obtain the necessary data to perform examinations; meets with the Deputy Superintendents and Superintendent of Banks to discuss the scope of examinations and explain the Departments findings; recommends corrective actions to address discriminatory practices; reviews financial institutions responses to findings of discriminatory practices; and assists them in implementing corrective actions. 

MINIMUM QUALIFICATIONS

            FAIR LENDING SPECIALIST 1

Open-Competitive:  Bachelors Degree and two years of experience in banking or a related financial industry, consulting firm, non-profit organization, or fair housing group.  One year of the experience must have involved designing and performing fair lending analyses related to all types of credit extensions.  A Masters Degree in business, finance, economics, banking, or related area, or a Juris Doctor Degree may substitute for one year of the general experience.

            FAIR LENDING SPECIALIST 2

Open-Competitive:  Bachelors Degree and five years of experience in banking or a related financial industry, consulting firm, non-profit organization, or fair housing group. Two years of the experience must have involved designing and performing fair lending analyses related to all types of credit extensions.  A Masters Degree in business, finance, economics, banking, or related area, or a Juris Doctor Degree may substitute for one year of the general experience.

            DIRECTOR CONSUMER LENDING REGULATION AND COMPLIANCE

Open-Competitive:  Bachelors Degree and eight years of experience in banking or related financial industry, consulting firm, non-profit organization, or fair housing group.  Three years of the experience must have involved designing and performing fair lending analyses related to all types of credit extensions.  A Masters Degree in business, finance, economics, banking, or related area, or a Juris Doctor degree may substitute for one year of the general experience. 

Revised:  3/09

NOTE:  Classification Standards illustrate the nature, extent and scope of duties and responsibilities of the classes they describe.  Standards cannot and do not include all of the work that might be appropriately performed by a class.  The minimum qualifications above are those which were required for appointment at the time the Classification Standard was written.  Please contact the Division of Staffing Services for current information on minimum qualification requirements for appointment or examination.