Commercial & Private Bank Business Risk & Controls Officer
Company: Flagstar Bank
Location: New York
Posted on: October 27, 2024
Job Description:
The Treasury Management and Banking as a Service (BaaS) Business
Risk and Controls Officer will help to design, build, transform and
implement a risk management framework and lead the ongoing
identification, assessment, and measurement of the business line's
material risks and key controls. The Business Risk and Controls
Officer in this 1st Line of Defense (1st LOD) role will bring
expertise in regulatory requirements and risk experience in
Commercial & Private Banking, as well as in Treasury Management or
Banking as a Service (BaaS) businesses. --- The Private Bank
consists of Private Client Groups (PCGs) who are highly specialized
in providing white glove service to High Net Worth and Commercial
clients by offering Deposit products, lending, and products and
services from Flagstar's broader offerings. --- The Commercial Bank
includes lending, finance, and banking focused on middle market
Commercial & Industrial (C&I) companies. The organization also
provides capital markets, foreign exchange and derivatives,
treasury management products and services, and BaaS. --- Treasury
Management provides sales and product support to the Commercial and
Private Banks including receivables and payables solutions and cash
management optimization tools. Banking as a Service (BaaS),
including Government Banking, drives deposits and fee income with
products and services to government agencies and state partnerships
such as a pre-paid debit card program. This leader will collaborate
with colleagues in Enterprise Risk Management and Compliance (2nd
LOD), Internal Audit (3rd LOD), and External Regulatory Agencies.
This position is critical to supporting the strategy of the
Commercial & Private Banks by ensuring prudent risk and compliance
management which permit the bank grow profitably. The salary range
for this position is $117,184.74- $174,604.26- $203,315.53JOB
RESPONSIBILITIES:
Risk Advisory
- Builds, leads, transforms, and consistently executes a
Non-Financial Risk Management framework.
- Exemplifies high level of acumen across Enterprise Risk stripes
- Operational, Compliance, Strategic, Credit, Liquidity, Interest
Rate, Price, and Reputational Risk.
- Builds, leads, and consistently executes a Risk Governance
Framework subject to Bank regulatory heightened standards for the
Treasury and BaaS businesses, including Risk Culture, Risk
Appetite, Roles and Responsibilities, Risk Governance, Risk
Assessment, and Risk Monitoring & Reporting.
- Builds, leads, transforms, and consistently executes Risk &
Control Self-Assessments, Issue Management, Internal Operational
Risk Loss Events, External Risk Events, Key Risk Indicator, Control
Identification and Design, and Quality Assurance programs.
- Drives risk management assessment of new products and services,
including enterprise change management programs.
- Provides risk advisory and guidance to the Business Process
Owners including process and control design, early risk
identification, control environment operating effectiveness,
policies and procedures, vendor risk, model risk, and data
governance.
- Ensures Risk Management Frameworks are effective to manage
risks associated with the Commercial & Private Banks strategic
plan.
- Directly engages with Bank leaders on identified incidents and
issues in root cause analysis, action plans, supporting
documentation and testing of implemented controls to effectively
remediate findings or issues.
- Provides risk advisory and guidance on project initiatives,
risk assessments, and risk remediation efforts impacting the
Business Units. -
Bank Initiative Partner
- Actively influences and engages in Enterprise Risk and
Compliance forums and socializes with Treasury Management and BaaS
leaders.
- Directly interacts with the Bank's regulators and Internal
Auditors.
- Works closely with the following Business Unit partners: Bank
Examiners, External Bank Auditors, Enterprise Risk Management,
Internal Audit, Regulatory Compliance, Regulatory Affairs, Business
Process Owners, and Shared Services organizations.
- Coordinates Internal Audits, Compliance Tests, and External
Exams with Business Process Owners to ensure timely delivery and
completeness of required documentation.
Governance
- Actively executes appropriate Business Unit Review Governance
model and cadence for Treasury Management and BaaS Business
Units.
- Ensures compliance with all Enterprise Risk management policies
and standards, and management of Enterprise Risks within the Bank's
risk appetite. -
- Implements risk management methodologies for Treasury
Management and BaaS Business Units. - - -
- Ensures key risk and control data, inventory, metrics, and
reporting are established and actively monitored.
- Ensures risk culture is imbedded across the Treasury and BaaS
organizations with an appropriate training regimen.
Risk Advisory Guidance and Communication
- Assists in the interpretation of complex regulatory
requirements and effectively communicates the potential impact to
affected business lines. -
- Supports the development and implementation of regular
communication and training 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 subject matter
expert for advising and monitoring processes across the Business
Units.
Procedure & Process Management
- Provides direction and expertise on development of sufficient
documentation including policies, procedures, processes, and user
guides to increase efficiencies, reduce errors and mitigate
risk.
- Ensures regulatory/compliance related requirements are embedded
within Business Units procedures and user guides. -
- Ensures ongoing / annual reviews of Risk procedures to ensure
accuracy and compliance with policies.
- Understands the current systems and their respective
capabilities. -
ADDITIONAL ACCOUNTABILITIES
- Performs special projects related to risk identification and
assessments, including gap analyses, where required.
- Prepares comprehensive written reports and summaries
communicating results of findings and highlighting overall business
risk, where necessary.
- 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.
- Responsible for talent management functions including:
employment, performance evaluations, staff development/training,
disciplinary actions, succession planning and ensuring all staff
comply with compliance requirements.
JOB REQUIREMENTS Required Qualifications:
- Education level required: Undergraduate Degree (4 years or
equivalent) in Finance, Economics, Business, Data & Analytics or
similar.
- Minimum experience required: 10+ Years of risk and internal
control experience.
- Experience in one of the following banking specialties
determined by the position:
- Private Banking and associated deposit and lending
products.
- Commercial Banking and associated lending and deposit products,
particularly within Treasury Management and/or Government
Banking.
- Large Bank experience preferred.
- Proven ability to lead and execute in change management
environments and has built programs / frameworks from the ground
up.
- Experience in acquisition / integration environments.
Preferred Qualifications:
- Demonstrated effectiveness in managing operational
requirements, preferably in the assigned banking specialty.
- Advanced understanding of Sarbanes-Oxley requirements and Risk
and Control Self-Assessments (RCSA).
- Advanced understanding of Non-Financial Risk management and
audit industry best practices.
- Advanced understanding of laws and regulations impacting
financial institutions.
- Proven ability to manage and execute multiple complex projects
within required timelines.
- Experience defining and documenting business processes and
functions.
Job Competencies:
- Proven ability to partner effectively across all levels of the
organization and develop positive working relationships,
- Demonstrated ability to follow company policies, guidelines and
procedures.
- Strong attention to detail, highly organized, and ability to
prioritize.
- Demonstrated 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 analyze and assess the adequacy of operational
controls and identify opportunities for process improvements
- Drives change in the organization and ability to handle complex
change management while remaining risk disciplined.
- Ability to think critically and logically.
- Uses independent judgement and discretion to make decisions
pertaining to risk governance, audit, compliance.
- Analyzes and resolves problems pertaining to risk governance,
audit, compliance.
- Proactive self-starter with good people management skills and a
strong work-ethic.
Travel Requirements: Travel may be required depending on location
of hire. - If required, travel is not expected to be frequent.
Physical demands (ADA): No unusual physical exertion is
involved.
Keywords: Flagstar Bank, New York , Commercial & Private Bank Business Risk & Controls Officer, Accounting, Auditing , New York, New York
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