Jeffrey Shanks
About Jeffrey Shanks
Jeffrey Shanks is the Fair and Responsible Banking Compliance Director at Ally, with extensive experience in banking compliance and risk management.
Title
Jeffrey Shanks holds the position of Fair and Responsible Banking Compliance Director.
Current Role at Ally
Jeffrey Shanks has been working as the Fair and Responsible Banking Compliance Director at Ally since 2015. His role is based in Charlotte, North Carolina, United States. His responsibilities include overseeing the bank's compliance programs related to Fair Lending, UDAAP (Unfair Deceptive or Abusive Acts or Practices), and HMDA (Home Mortgage Disclosure Act).
Previous Experience at Bank of America
Jeffrey Shanks previously worked at Bank of America as Manager – Assistant Vice President from 2011 to 2015 for four years in Charlotte, North Carolina. During this period, he gained valuable experience in banking compliance and management.
Experience at Wells Fargo
From 2009 to 2011, Jeffrey Shanks served as a Team Lead at Wells Fargo for two years in Charlotte, North Carolina. This role helped him to further hone his leadership and compliance management skills.
Role at U.S. Trust Bank of America Private Wealth Management
Jeffrey Shanks was employed at U.S. Trust Bank of America Private Wealth Management as a Credit Risk Specialist – Assistant Vice President from 2008 to 2009, working for one year in Charlotte, North Carolina. This position allowed him to specialize in credit risk management.
Educational Background
Jeffrey Shanks studied at the University of North Carolina at Charlotte, earning a B.S.B.A. in Marketing and a B.S. in Geography.
Compliance Program Development
Jeffrey Shanks has developed and implemented the bank's compliance programs for UDAAP, Fair Lending, and HMDA. These programs are essential for regulatory adherence and ethical banking practices.
HMDA Loan Application Register Preparation
One of Jeffrey Shanks' key responsibilities is preparing the bank's HMDA Loan Application Register for regulatory submission, ensuring compliance with federal data reporting requirements.
Subject Matter Expert
Jeffrey Shanks serves as a subject matter expert for Fair and Responsible Banking-related risk assessments, helping to mitigate potential risks and ensuring adherence to regulatory standards.
Training Program Development
Jeffrey Shanks has developed all enterprise training courses related to Fair and Responsible Banking, providing essential education to employees to maintain compliance and ethical standards.
Participation in Examinations and Audits
Jeffrey Shanks actively participates in examinations, audits, and review activities, including the implementation of required remediation, ensuring continuous compliance and improvement.