News

| Wednesday, December 5, 2012

cdbanewsflash_-_low_rez_for_email

December 5, 2012


Member News

Mission Valley Bank’s New Generation of Online & eBanking Services
Mission Valley Bank

(12-4-12) Through client surveys, interviews and day to day conversations, Mission Valley Bank has heard what its customers want to see with regard to Online and eBanking. In response, Mission Valley Bank is launching a whole new look and feel for a much more robust Online Banking Platform. This new lineup of state-of-the-art eBanking services which significant enhancements to: oneline banking for personal and small business accounts, business bill pay, personal bill pay, on-site teller, and business online banking. Learn more about the new eBanking Services by viewing the informative videos on Mission Valley Bank's website.

Chicago Fed Announces New Board Members
Fox Business

(12-3-12) The Federal Reserve Bank of Chicago announced three new members and the appointment of a new chair of its Board of Directors in a press release Monday night. Greg Brown, Chairman and Chief Executive of Motorola Solutions Inc.; Jorge Ramirez, President of the Chicago Federation of Labor in Chicago, and William M. Farrow III, President and CEO of Urban Partnership Bank in Chicago, were announced as new members to the nine-person board. The appointments are effective January 1.


Of Interest

Warren, Manchin Win Seats on Senate Banking Panel
American Banker

(12-4-12) Senator-elect Elizabeth Warren has secured a spot on the Senate Banking Committee, and she'll be joined by Sen. Joe Manchin, according to a Democratic Senate aide. Warren, a Harvard professor and founder of the Consumer Financial Protection Bureau, beat out GOP incumbent Sen. Scott Brown in a heated and expensive battle this fall. Critics have warned that the Massachusetts Democrat could have outsized influence on the committee given her strong and often critical views of the industry, but many observers have said that it would be difficult for Senate leaders to deny her a spot given her background. Several liberal groups had started a petition to encourage Senate leaders to place her on the panelThe Senate aide cautioned that the decisions about Warren and Manchin will not be final until Majority Leader Harry Reid makes a public announcement.

Lame Duck Session is Crunch Time for Key Bank Bills
American Banker

 

(12-3-12) A number of critical industry bills that languished over the summer and fall are once again gaining prominence in the waning days of the lame duck session. At least two bills appear headed for passage — one that would protect information banks share with the Consumer Financial Protection Bureau and another that would end a requirement for banks to place a physical placard disclosing ATM fees in addition to an electronic notice. Another relatively uncontroversial bill that could come up for a vote is an extension to the Mortgage Forgiveness Debt Relief Act, which exempts homeowners from paying taxes on short sales, principal reductions, and other forms of mortgage forgiveness. Banking groups and credit unions have also been waging an ongoing
battleover a bill to double a cap on credit union business lending to 27.5% of assets, which bankers adamantly oppose. Separately, banks are also battling each other as lawmakers weigh whether to extend the Transaction Account Guarantee before it sunsets at year end.

A Surprise Ending for Second Federal
Crain's Chicago Business

(11-28-12) In a surprise end to the saga of the failed Second Federal Savings and Loan Association of Chicago, Wintrust Financial Corp. has agreed to sell the Little Village thrift's three branches and deposits to a group led by Pilsen community development organization the Resurrection Project. The nonprofit, along with North Carolina-based Self-Help Federal Credit Union, had bid unsuccessfully for Second Federal's deposits when regulators closed the thrift in July. The Federal Deposit Insurance Corp.'s move to sell the $161 million of deposits to Rosemont-based Wintrust provoked sharp criticism from Resurrection Project CEO Raul Raymundo and a letter from U.S. Rep. Luis Gutierrez, D-Chicago. The FDIC later sold the thrift's loans, almost all of them mortgages to Hispanic borrowers on the Southwest Side and in near west suburban Cicero, to the Resurrection Project and its credit union ally. But the group always wanted the deposits as well, Mr. Raymundo said. Wintrust CEO Edward Wehmer said that in the end, what was best for the community was for the deposits, loans and branches to be with a single institution. “Sometimes we may not be the perfect answer,” he said in an interview. But, he emphasized, “We are not by any means abandoning the community.”

US SIF Publishes Biennial Sustainable Investment Trends Report
Social Funds

(11-24-12) The recently published 2012 Report on Sustainable and Responsible Investing Trends in the US from US SIF: The Forum for Sustainable and Responsible Investment indicates that assets allocated to sustainable investment strategies continue to rise, as they have throughout the past decade. By the end of 2011, $3.74 trillion were invested by means of such strategies as incorporation of environmental, social, and corporate governance (ESG) criteria and shareowner engagement. The total represents a 22% increase over sustainable investment at year end 2009, which stood at $3.07 trillion. By the end of 2011, 443 institutional investors, 272 money managers, and 1,043 community investment institutions with assets in excess of $3.3 trillion were incorporating ESG criteria, and an additional 200 institutional investors or money managers, with assets of $1.54 trillion, had filed or co-filed shareowner resolutions on ESG issues. The report also specifically discusses Community Development Financial Institutions, noting that community investment through CDFIs experienced a 47% increase in assets over 2010, and now stands at $61.4 billion. 


Jobs


Sunrise Community Banks - Manager, Commercial Loan Administration (Greater Minneapolis-St. Paul area, MN)

Sunrise Community Banks, Minnesota’s Socially Responsible Bank, is searching for a highly motivated individual to join our Loan Administration team! If you are interested in joining one of Minnesota’s Top 100 Workplaces in 2011 and 2012, and be part of a fun and dynamic team, we have the following opportunity available for a Manager of the Commercial Loan division. This position is responsible for leading the Commercial Loan Administration team by directing work functions, assignments, and special projects. Position will complete selective loan documentation review and HMDA worksheet review. The incumbent will ensure the Loan Administration team is compliant with regulation and policy. Full details available here

 
 
The Reinvestment Fund - Loan Closer (Philadelphia, PA)
 
TRF seeks a Loan Closer to support TRF Loan Officers in closing loan transactions and post-closing follow-up. The Loan Closer will coordinate the loan closing, including preparation of the loan closing checklist, engagement of counsel, tracking of legal costs, review of title commitment, collection and review of due diligence items, entering loan information in TRF databases, and reviewing and preparing closing disbursement. The Loan Closer will be responsible for ensuring that loan documents comply with credit approval and credit policy, and will conduct a post-closing review to ensure that all loan-supported collateral documentation is received, filed, and uploaded to TRF’s document management system. Knowledge of construction financing, commercial real estate loan documentation, and title insurance is required. The successful candidate will be extremely detailed oriented, possess strong organizational skills, and have a demonstrated ability to work on multiple transactions simultaneously. This person will have strong interpersonal skills and have the ability to foster productive working relationships and manage high pressure situations. Full details available here
 
Federal Deposit Insurance Corporation - Deputy Director, Consumer and Community Affairs Branch (Washington, D.C.)
 
The Deputy Director provides strategic leadership and direction for all programs and functions within the Community and Consumer Affairs Branch of the Division of Depositor and Consumer Protection to ensure such programs are administered effectively and efficiently in accordance with Corporate and Division objectives. Salary reflects a pay cap for this position of $250,000.00. FDIC Executive Managers (EM) are in the Federal competitive service and not the Senior Executive Service. As an EM at the FDIC, you will provide executive leadership and managerial direction over substantive activities related to planning, developing, executing, and coordinating the Corporation's programs and policies. Key requirement: Incumbent may be relocated to any duty location to meet management needs. This position is open from 11/26/12-12/21/12. Full details available here
 
The Federal Reserve Bank of San Francisco - Community Development Regional Manager (San Francisco, CA)
 
The Federal Reserve Bank of San Francisco is seeking a Community Development Regional Manager to cover Arizona, Nevada, and Utah. We are looking for an entrepreneurial, self-starter whose portfolio will help shape the development of leading practices that benefit low- and moderate-income communities in this region and beyond. To apply, please go to http://www.frbsf.org/careers.

 


                             
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information on other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I. Street NW, Suite 201, Washington D.C., 20005 or info@cdbanks.org.

Contact Name: Dana Weinstein; weinsteind@pcgloanfund.org; 202-689-8935 x32

CDBA member OneUnited Bank seeks an AVP/senior loan underwriter. This position is responsible for the underwriting of multifamily and commercial loans in accordance with the guidelines, policies and procedures set forth by the bank. The senior loan underwriter will work with a team of lending professionals to originate multi-family and commercial loans for the bank’s portfolio. Additional duties may include support in the loan origination and loan servicing areas to support the lending department.

CDBA Member Native American Bank seeks a credit analyst with experience assessing credit risk associated with the bank’s current and prospective loans. The incumbent will use economic conditions, industry characteristics, financial ratio analysis, collateral analysis, loan covenant considerations and other factors to analyze credit risks and underwrite loans.

The chief of strategic initiatives is responsible for analyzing the most promising new initiatives in order to enhance TRF's business lines. This position manages a research and development fund to support the initiatives and approval process. This role includes developing and coordinating the requisite financial, talent and stakeholder inputs for a new initiative to succeed while ensuring that all new initiatives match the key themes and assumptions of TRF’s strategic plan.

CDBA member Illinois Service Federal Savings and Loan Association has several open positions: 

Controller

The controller directs the bank's auditing, recordkeeping and account activities. This position makes recommendations relating to budget preparation, profit forecasts and operational changes. The controller also monitors implementation of departmental audit activities, approves final audit reports and makes recommendations to improve financial institution cost control functions.

Chief Lending Officer

The chief lending officer provides leadership to the financial institution team on all credit decisions, with a focus on residential mortgages and non-owner occupied mortgage lending. The incumbent will also supervise staff, make credit and lending decisions and perform credit monitoring of all loans. This role serves as the principal expert on all issues associated with lending strategies, credit risk management and commercial or real estate lending.

Carver Federal Savings Bank seeks a Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) officer. The BSA/AML Officer is responsible for creating and implementing the company’s BSA/AML compliance functions, staying up to date with new compliance regulations, providing continuous monitoring of customer activities as it relates to AML, BSA and other regulations and managing the activities of team of BSA Analysts.

CDBA member First American International Bank seeks a commercial loan closer responsible for reviewing loan documents and coordinating closings for residential, commercial real estate and commercial loans. The closer is the point person in communicating with all parties involved in the closing process including attorneys, relationship managers and borrowers.

CDBA Member Carver Federal Savings Bank seeks a treasury accountant to assist in the monitoring of the bank's liquidity position. This will include producing reports on an ongoing basis for management, the management investment committee, auditors and regulators. This position is also responsible for overseeing the bank's investment portfolio.

Nonprofit Catholic investment fund Mercy Partnership Fund seeks a director. The director is responsible for the management of the fund, including identifying borrowers, structuring, closing investments, establishing effective relationships with multiple stakeholders and assisting Mercy Investment Services deploy its social impact capital in innovative ways that address the mission of the Sisters of Mercy.

Virginia Community Capital seeks a senior loan officer responsible for developing and maintaining strong relationships with borrowers and providing quality customer service. The loan officer acts as the principal account manager for new and existing customer, developing, generating and maintaining client leads. This position is also responsible for calling on existing borrowers to review lending activities, making recommendations as needed.

Pages