#49: Congrats! Take The Day Off!!

Data submitted…now what? Now that you are confident in the reliability of the data, revisit your goals for the new performance year. It’s never-ending, I know!First, you’ll want to align your CRA strategy with the bank’s corporate strategy. As a member of the CRA team, you’re responsible for leading programs and building support in the community that helps your bank connect with potential customers. As such, key stakeholders and the executive management team should see you as a key player in carrying out the bank strategy. Before you can build your own CRA plan or strategy, it’s important to consider the bank’s corporate strategy and priorities. Once you understand the bank’s key initiatives, you can align your CRA program’s priorities with overarching corporate directives to impact the entire institution and the community. To learn about your bank’s key initiatives and corporate strategy, meet with the appropriate people and discuss. Ask how your CRA program could support the bank, and make sure to tell them how they might help your CRA program. Next, you’ll want to consider all elements of your CRA program. When planning and outlining your CRA strategy for 2022, you need to keep all elements of your program in mind. Here are some things to consider:• Collaborate with different business units to ensure you’re meeting the credit needs of the community. • Engage key internal bank stakeholders to maximize the bank’s community development services, loans, and investments.• Create a system to ensure technical compliance with all required deadlines and activities associated with public file, public notices, sunshine provision reporting, etc. • Acknowledge where you are in the CRA exam cycle. Your priorities will shift depending on whether you’re in year one of your exam cycle or if your exam is coming next quarter.• Develop a plan to train key internal stakeholders such as commercial loans officers, retail staff members, and CRA team members embedded in different departments.CRA Today helps bankers master the Community Reinvestment Act, get exam ready, and change lives through the power of community development.Want to learn the CRA basics? Sign up for CRA Essentials Live! A live webinar with Linda Ezuka that shares everything you need to create a solid foundation for your CRA journey. https://hub.cratoday.com/freewebinarReady to take a deeper dive into the CRA? Join your fellow CRA enthusiasts in the CRA Hub as we navigate regulatory change, study core CRA concepts and connect as community development professionals across the nation.https://cratoday.com/hub/Are you understating your lending performance? Learn the 5 Foundational Steps to Building an Outstanding Community Development Loan Portfolio with an on-demand training workshop.https://cratoday.com/blueprint/CRA Today Website: https://cratoday.com/ Linda Ezuka, LinkedIn https://www.linkedin.com/in/linda-ezuka-cra-today/Copyright © 2022 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