Flagstar Bank · 14 hours ago
Wealth Management - Flagstar Advisors Risk & Controls Associate
New York, NY
Full-time
Onsite
Mid Level
$85K/yr - $140K/yr
4+ years expFlagstar Bank is a financial institution that provides various banking services, and they are seeking a Wealth Management - Flagstar Advisors Risk & Controls Associate to help design and implement a risk management framework. This role involves collaboration with various departments to identify, assess, and manage risks associated with Wealth Management operations.
BankingFinanceFinancial Services
Responsibilities
Supports the Wealth Management Risk & Control organization in the 1st LOD with execution of risk and control programs adhering to the Risk Governance Framework
Supports the transformation of a Non-Financial Risk Management framework and consistently executes the framework
Exemplifies high level of acumen across Enterprise Risk stripes - Operational, Compliance, Strategic, Credit, Liquidity, Interest Rate, Price, and Reputational Risk
Consistently executes a Risk Governance Framework subject to Bank regulatory heightened standards, including Risk Culture, Risk Appetite, Roles and Responsibilities, Risk Governance, Risk Assessment, and Risk Monitoring & Reporting
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 while supporting the ongoing improvement and transformation of these areas
Directly engages with Broker Dealer and 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
Coordinates risk management assessment of new products and services, including enterprise change management programs, and can adeptly identify process improvement opportunities involving Broker Dealer Advisor oversight practices and third-party platforms
Provides risk advisory and guidance to the Business Process Owners / Advisors including process and control design, early risk identification, control environment operating effectiveness, policies and procedures, vendor risk, model risk, and data governance
Provides risk advisory and guidance leadership on project initiatives, risk assessments, and risk remediation efforts impacting the Wealth Management Business Unit
Ensures Risk Management Frameworks are effective to manage risks associated with the Wealth Management and Flagstar strategic plan
Participates in Enterprise Risk and Compliance forums and socializes with Wealth Management Advisors and leaders
May interact with and/or support interactions the Broker Dealer and Bank’s regulators (including OCC, FINRA, SEC, and FRB) and Internal Auditors
Works closely with the following Business Unit partners: 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 / Advisors to ensure timely delivery and completeness of required documentation
Actively executes appropriate Business Unit Review Governance model and cadence for Wealth Management, including up to the Flagstar Advisors Board
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 the Wealth Management Business Unit
Ensures key risk and control data, inventory, metrics, and reporting are established and actively monitored
Ensures risk culture is imbedded across the Flagstar Advisors organization with an appropriate training regimen
Assists in the interpretation of complex regulatory requirements and effectively communicates the potential impact to affected Flagstar Advisors business leaders
Supports the development and implementation of regular communication and training methods to keep employees informed of policy, procedural and regulatory updates
Regularly evaluates 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 Unit
Provides guidance 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 Unit 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
Prepares comprehensive written reports and summaries communicating results of findings and highlighting overall business risk, where necessary
Uses independent judgement and discretion to make decisions pertaining to risk governance, audit, compliance
Analyzes and resolves problems pertaining to risk governance, audit, compliance
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
Qualification
Required
Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
Minimum experience required: 4+ Years of risk and internal control (or similar) experience
Experience in Wealth Management products and services including Investment Management & Advisory, Insurance, Trust Advisory, and Fiduciary Advisory
Broker Dealer and/or Large Bank experience
Experience with Fiduciary Compliance obligations
Proven ability to lead and execute in change management environments, and has experience in the implementation of risk programs / frameworks
Experience in acquisition/integration environments
Preferred
Education level preferred: Undergraduate Degree (4 years or equivalent)
Demonstrated effectiveness in managing operational requirements, preferably in a Wealth Management capacity
Strong understanding of Risk and Control Self-Assessments (RCSA)
Strong understanding of operational risk management and audit industry best practices
Strong understanding of compliance requirements associated with laws and regulations impacting financial institutions
Able to manage and execute multiple complex projects within required timelines
Experience defining and documenting business processes and functions
Benefits
Medical
Dental
Vision
Life
Disability insurance
Comprehensive leave program
Company
Flagstar Bank
Thank you for visiting Flagstar Bank, N.A. on LinkedIn, and we look forward to being part of your financial journey.
5001-10000 employees
H1B Sponsorship
Flagstar Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (39)
2024 (42)
2023 (41)
Funding
Current Stage
Public CompanyTotal Funding
unknown2021-04-26Acquired
2001-07-12IPO
Leadership Team
Gregg Christenson
Executive Vice President and CFO for Community Banking
R
Randal Turner
SVP & Chief Financial Officer, Loan Servicing and Shared Services
Recent News
2025-11-12
2025-11-07
Company data provided by crunchbase