Corporate Banking Risk and Internal Controls Associate

Flagstar Bank

About The Position

The Commercial Banking & Lending Risk & Controls Associate will play an integral role in the design, buildout, transformation and implementation of a Commercial Banking risk management framework as well as advise and oversee business lines through ongoing identification, assessment, and measurement of material risks and key controls. The Commercial Banking & Lending Risk & Controls Associate, in this First Line of Defense (1st LOD) role, will bring expertise in financial industry risk governance routines and risk experience in Commercial Banking businesses. The Commercial Bank includes lending, finance, and banking focused on corporate and middle market Commercial & Industrial (C&I) companies. The organization also provides capital markets, foreign exchange and derivatives, treasury management products and services, and banking as a service. This position will collaborate with other members of First Line Risk & Control in the First Line of Defense, along with Operational Risk Management, Enterprise Compliance and Enterprise Risk Management in the Second Line of Defense (2nd LOD), and with Internal Audit in the Third Line of Defense (3rd LOD). This position is critical to supporting the strategy of the Commercial & Private Bank by ensuring prudent risk and compliance management of Flagstar Bank, N.A.

Requirements

Undergraduate Degree (4 years or equivalent) in Finance, Economics, Business, Data & Analytics or similar.
6+ Years of risk and compliance experience.
Experience in Commercial Banking, associated Lending and Deposit products, or Compliance programs
Experience in Treasury Management, Capital Markets, and Derivatives is a plus
Large Bank experience
Ability to execute in change management environments, and has experience building programs / frameworks from the ground up
Ability to partner effectively across all levels of the organization and develop positive working relationships
Ability to analyze and assess the adequacy of operational controls and identify opportunities for process improvements and efficiency gains
Ability to follow company policies, guidelines and procedures
Strong attention to detail, ability to prioritize and multi-task
Ability to maintain confidentiality using tact and diplomacy
Excellent verbal and written communication skills and demonstrated success communicating with various levels within an organization.
Ability to think critically and logically
Ability to analyze and resolve problems pertaining to risk governance, audit, compliance
Ability to develop effective relationships with various levels within an organization
Proactive self-starter with good people management skills and a strong work ethic
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.

Nice To Haves

Demonstrated effectiveness in managing operational requirements, preferably in a Commercial Banking capacity
Understanding of Risk and Control Self-Assessments (RCSA) and Sarbanes-Oxley requirements
Understanding of Non-Financial Risk management and audit industry best practices
Understanding of laws and regulations impacting financial institutions
Ability to manage and execute multiple projects within required timelines
Experience defining and documenting business processes and functions

Responsibilities

Supports the Commercial Banking & Lending Business Risk & Controls Officer in the buildout, implementation, and consistent execution of a Risk Management framework within the 1st LOD.
Provides guidance in risk framework responsibilities with Business Process Owners (BPOs) in support of enterprise risk assessments, change management initiatives, customer complaint management, compliance testing, issue management, operational risk events, key risk indicators, control Identification and design, process taxonomy documentation, and quality assurance programs.
Leads risk management assessment of new products and services, including enterprise change management programs.
Provides risk advisory and guidance to the BPOs including process and control design, early risk identification, control environment operating effectiveness, and policies and procedures.
Provides guidance on assurance activities to help ensure that risk management frameworks and controls are effective to manage risks associated with the strategic plan of Commercial & Private Bank.
Directly engages with BPOs on identified operations risk incidents and issues in root-cause analysis, action plans, supporting documentation and testing of implemented controls to effectively remediate findings or issues.
Provides BPOs with risk advisory and guidance on project initiatives, risk assessments, and risk remediation efforts impacting the Business Units.
Supports activities to help ensure compliance with all enterprise compliance policies and standards, and management of compliance risks within the Bank’s risk appetite.
Supports the Commercial Banking & Lending Business Risk & Controls Officer in the implementation of risk management methodologies for Commercial & Private Bank Business Units.
Performs activities to help ensure that key risk and control data, inventory, metrics, and reporting are established and actively monitored.
Performs activities to help ensure that risk culture is embedded across the Commercial & Private Bank organizations with an appropriate training regimen.
Actively influences and engages in risk forums and socializes with Commercial & Private Bank colleagues.
Supports the Commercial Banking & Lending Business Risk & Controls Officer in interactions with cross-functional teams from all lines of defense, including Internal Audit, Operational Risk Management, Model Risk Management, Business Process Owners, and Shared Services organizations to ensure timely delivery and completeness of required documentation.
Leads efforts to support the development and implementation of regular communication methods to keep employees informed of policy, procedural and regulatory updates.
Regularly evaluates assigned Business Unit processes and practices to ensure consistency with applicable regulatory requirements and expectations.
Stays abreast of compliance and regulatory changes at Flagstar and within the industry to continue to act as a risk advisor for supporting and monitoring processes across the Business Units.
Provides direction and support on development of sufficient documentation including policies, procedures, processes, and user guides to increase efficiencies, reduce errors and mitigate risk.
Performs activities to help ensure that regulatory/compliance related requirements are embedded within Business Units procedures and user guides.
Ensures continuous support of business-level procedures to ensure accuracy and compliance with standards and guidelines.
Understands the current systems and their respective capabilities.
Supports the Commercial Banking & Lending Business Risk & Controls Officer in the preparation of comprehensive written reports and summaries communicating results of findings and highlighting overall business risk, where necessary.
Uses independent judgement and discretion to make decisions.
Analyzes and resolves problems.
Resourceful and self-starter with the ability of working independently or collaboratively with risk partners, BPOs and cross-functional teams.
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
Accountable to maintain compliance with applicable federal, state and local laws and regulations.