VP, Community Reinvestment Act (CRA) Strategy Leader Position Available In Western Connecticut Planning Region, Connecticut

VP, Community Reinvestment Act (CRA) Strategy Leader 3.8 3.8 out of 5 stars 777 Long Ridge Rd, Stamford, CT 06902

Job Description:

What You’ll Accomplish You will be part of an incredible team within Synchrony that builds and maintains customer relationships that revolve around community credit needs and community development activity to meet the Bank’s CRA (Community Reinvestment Act) statutory requirements. You will have two key roles: 1) acting as the key liaison between the Bank and the community to assess and understand community credit needs, then taking a leadership role to develop CRA strategies for Synchrony to serve those needs; and 2) taking day-to-day responsibility to ensure the bank’s readiness to maximize Synchrony’s CRA performance in exams. You will also engage in other aspects of the CRA Group’s business activities, its leadership, and supporting roles to strengthen the team. Our Way of Working We’re proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events. Essential Responsibilities Cultivate strong relationships of trust with team members and internal stakeholders creating an environment where people feel confident, successful, and have a strong sense of belonging, as well as a desire to engage. Champion Synchrony’s CRA program by creating and implementing actionable operational strategies to drive success in achieving the bank’s key CRA objective, to earn an Outstanding CRA rating. In concert with the CRA Officer, and as a CRA subject matter expert (“SME”), develop, present, obtain approval for, and implement the bank’s annual CRA performance plan, including detailed performance plans and targets for all business units and functional areas of the Bank currently covered by CRA regulatory requirements. Conduct thorough market analysis, economic research, and peer analysis to identify Synchrony’s strengths, weaknesses, opportunities, and threats (“SWOT”) to find operational effectiveness and improvements that will contribute to CRA strategies and minimize CRA risk. Create and maintain reports for the CRA Committee regarding effectiveness of plans, recommending adjustments as needed. Prepare and present other appropriate materials to facilitate the following: the CRA Committee’s governance role over plan implementation, exam Day One meetings, and other CRA oversight as needed. Identify needed community development (“CD”) products and programs. Provide forecasts of CD loan and investment production and CRA portfolio activities for inclusion in Synchrony’s financial forecasting. This includes ownership and use of a non-model tool (NMT). Implement technical requirements of the CRA regulation; ensure proper determination of CRA assessment area geographies and target areas; oversee proper documentation for all CRA activities; maintain lists of qualified CD products delivered (loans, investments, grants, services); guide daily preparations for each regulatory exam; prepare performance context; lead an “always be exam-ready” approach; and support the CRA Officer in “telling Synchrony’s CRA story”. Coordinate CRA team responses for CRA regulatory exams. Coordinate (and develop as needed) CRA training for bank staff. Coordinate third parties and bank staff in delivering CRA related programs, grants, and services to the community. Champion Synchrony in the community by identifying and capitalizing on business opportunities. Understand the Bank’s assessment area(s) and target areas. Engage in community outreach and identification of CRA pertinent needs in assessment area(s) and target areas. Conduct and/or participate in periodic formal Community Forums to assess community credit needs, and document results. Strengthen Synchrony’s community impact. Build trust with government, civic, and community leaders and other stakeholders. Cultivate new and build existing business relationships to support Synchrony’s CD finance business. Represent Synchrony on community-based or regional boards and committees and/or with select trade/investor organizations to support the Bank’s CRA objectives. Provide CRA Group support & perform other key responsibilities. Be a senior leader within the CRA Group, take rotation of leadership for team meetings, lead and elevate every day. Keep abreast of emerging CRA issues and regulatory perspectives. Support Synchrony’s CRA Officer and other CRA team members. Examples include but are not limited to: Managing aspects of the CRA Group’s direct grants program. Assist in business development and production underwriting activities. This includes establishing targets, identifying opportunities, and assisting in production (to the extent that prior experience supports you being a relationship manager for a limited number of relationships). Own a Level 3 (L3) process. Supervise other team members assisting with CRA documentation and verification activities, including, if and as appropriate, manager duties.

Qualifications/Requirements:

Bachelors’ Degree with 8+ years relevant management experience, or in lieu of a bachelor’s degree 12+ years of relevant management experience. Minimum of 5 years of experience in at least one role related to this job description, such as CRA strategy development or execution, CRA exam preparation, community engagement for CRA purposes, research, etc.

• be prepared to demonstrate the relevant work history and to share how your experience will add value in this role. Working knowledge of banking laws and regulations, particularly the Community Reinvestment Act (CRA) and its regulation. Effective communication skills (verbal, written, presentation). Travel
• must be able to travel as needed within a local/regional area and

< 25% throughout the U.S.

Desired Characteristics:

Prefer candidates with experience in multiple areas related to this CRA leadership role

• be prepared to demonstrate experience. Demonstrated experience as a leader. Excellent organization, prioritization, and project management skills. Attention to detail, sound judgment and problem solving
• tell us how you connect the dots. Ability to work with all levels across the business including senior leaders internally, community and CRA industry leaders externally, and with customers/syndicators
• tell us about how you influence others.

Grade/Level:

14 The salary range for this position is 150,000.00

• 250,000.

00 USD Annual and is eligible for an annual bonus based on individual and company performance. Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge. Salaries are adjusted according to market in CA, NY Metro and Seattle.

Eligibility Requirements:

You must be 18 years or older You must have a high school diploma or equivalent You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act. New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months’ time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months’ time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don’t meet the time in position or performance expectations). Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Our Commitment:

When you join us, you’ll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard—but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we’re building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+, with more than 60% of our workforce engaged, you’ll find community to connect with an opportunity to go beyond your passions. This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.

Reasonable Accommodation Notice:

Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment. If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am

• 5pm Monday to

Friday, Central Standard Time Job Family Group:

Legal