Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in Louisville, Central, Eastern and Northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets.

Job Title: Fair Banking Intern

FLSA Status: Non-Exempt                                       

Department:  Compliance                                             

Hours of Operation: M-F 8:00-5:00                                                        

General Job Summary: 

The Fair Banking Intern is responsible for assisting with analysis and assessment of data related to laws and regulatory requirements of Fair Lending, Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA) and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). This role will assist in second line of defense monitoring and oversight activities.

Organizational Duties and Responsibilities:

• Supports the mission, vision, and philosophy of the Bank. Complies willingly with all organizational policies and procedures.
• Supports all functions that maintain compliance with regulatory agencies.

Essential Duties and Responsibilities:

Coordinates and improves the monitoring and reporting process, including:

• Assist in analyzing loan data to identify patterns and ensure compliance with fair lending regulations
• Conduct research on fair lending laws and recent enforcement actions to inform internal practices
• Assist in responding to customer inquiries related to fair lending policies
• Collaborate with the Compliance Department to integrate fair lending considerations into broader compliance initiatives

• Monitor, ensure and maintain loan information quality and integrity to ensure regulatory compliance
• Assist in identifying tracking and analyzing systematic and/or operational exceptions regarding data collection for all loans to identify patterns and ensure compliance with fair lending regulations
• Support the preparation of reports on a scheduled basis for distribution to the applicable business units (including, but not limited to) for areas related to: Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), Redlining, pricing disparities, disparate impact or treatment, Branch and ATM distributions, analysis of loan distribution patterns, analysis of peer and demographic data, market penetration, and monitoring and analysis of policy exceptions
• Utilize resources to stay up to date with regulatory changes related to HMDA, CRA, Fair Lending, UDAAP, ECOA, Fair Lending and Section 1071 of the Dodd Frank Act
• Participate in new product development and work closely with Compliance Advisors and applicable business units in the assessment of risk associated with these products
• Assist in the investigation of consumer complaints for potential Fair Lending and UDAAP elements using the Bank’s complaint tracking system

Other Functions:

• Assist with the communication of compliance initiatives to partners throughout the bank, including contributing to the departmental newsletter
• Assist in the development and communication of regulatory policies and procedures to management for review and approval
• Assist with regulatory compliance training
• Maintain understanding of the bank’s products, services, geographic locations, and the potential risks associated with those activities
• Conduct special projects as the need arises
• Assist with other compliance reviews as assigned
• Perform other duties, as assigned

Working Conditions: Works in an office setting.

Minimum Job Requirements:

Education: Currently enrolled in a bachelor’s degree program in Economics, Finance, Public Policy, Law or related field

Specific Skills:          

• Strong organizational and time management skills
• Strong analytical skills and attention to detail
• Ability to function in a multi-task environment
• Ability to work independently
• Excellent verbal and written communication skills
• Ability to define problems and propose solutions
• Proficiency in Microsoft Office Suite

Specialized: Ability to read, analyze and interpret government regulations, trade journals, and legal documents

What You Will Gain:

• In-Depth Understanding of Fair Lending Laws: Interns will delve into laws such as the Fair Housing Act and the Equal Credit Opportunity Act, gaining a comprehensive understanding of their application in banking operations
• Data Analysis Proficiency: By analyzing loan data and preparing reports related to the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA), interns will enhance their quantitative and data interpretation skills
• Policy Development Experience: Assisting in the creation and updating of fair lending policies will provide interns with practical experience in policy formulation and implementation
• Community Engagement Exposure: Participation in community outreach programs will allow interns to understand the bank’s role in promoting fair lending practices and engage with diverse community stakeholders
• Enhanced Communication Skills: Collaborating with various departments and responding to customer inquiries will help interns refine their communication abilities, essential for effective advocacy and education on fair lending issues

Physical Requirements:

The physical demands described here are representative of those that must be met by an employee in order to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Primarily sedentary work performed in an office environment
• Ability to sit for extended periods of time while working at a computer
• Frequent use of hands and fingers to operate a computer, keyboard, mouse, and other office equipment
• Ability to speak clearly and hear well enough to communicate with clients, team members, and vendors via phone, video, and in person
• Visual acuity sufficient to read computer screens, printed documents, and financial data
• Occasional standing, walking, bending, or reaching
• Ability to lift and carry up to 10–15 pounds occasionally (e.g., files, office supplies)