#35: The Secret to a Smooth CRA Data Integrity Exam!

I’ll bet you didn’t guess this one! The secret to a smooth CRA data integrity exam is...your loan operations team. Yep, loan ops! Wait, what? These team members are masterful at detail with their checklists, loan code sheets, document indexing system and digitalization platforms. They are your first call when you get your sampled lists from your examiners, and they carry the heavy burden of pulling files and reading them for examiner review. They are often juggling their daily loan origination workflow and supporting various departments with one audit after another. I spend extra time taking care of these valuable team members. Make sure that you develop relationships with them in between exam cycles and recognize their efforts to ensure data integrity through the normal course of business. Most importantly, be sure to keep them in the loop as valued partners to your CRA program. The moment you receive your exam notice, inform them of key dates and what will be expected of them so they can prepare. They will need to shift priorities to pull loan files for you under the CRA program but also for your bank’s compliance exam, so they are working under great pressure in the midst of their regular process flow and transactional deadlines. Once the data integrity exam is complete, loop back to them to share the outcome of the review and commend them for a job well done. You may even want to surprise them with some coffee and donuts! Quotes• “[Your loan operations officers] are always critical to your work, and god forbid you actually have to expand your sample, they’re involved, too, because it’s their work that’s being examined as well.” (02:35-02:48)• “[Your loan operations officers] are a key piece of the team to ensure clean data and happy examiners. So, make sure that you keep them in the loop and that they’re part of your CRA team, your inner circle if you will.” (02:58-03:14)Want to learn more about the CRA? Sign up for CRA Today’s free course: https://hub.cratoday.com/freecourseLinksCRA Today Website: https://cratoday.com/ For more information on the CRA Hub, a membership for bankers to connect, inspire, and master the art of CRA: https://cratoday.com/hub/ Copyright © 2021 by CRA Today LLC(No claim to original U.S. government material)All rights reserved. No part of this podcast may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.This podcast is a periodic publication of CRA Today LLC and is intended to notify and inspire recipients of new developments in the Community Reinvestment Act. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.Podcast production and show notes provided by HiveCast.fm