Apply on Employer Site

Flagstar Bank · 2 weeks ago

Commercial & Private Bank Business Risk & Internal Controls Associate

New York, NY

Full-time

Onsite

Mid Level

$85K/yr - $140K/yr

4+ years exp

Flagstar Bank is seeking a Commercial & Private Bank Business Risk & Internal Controls Associate to support the implementation of the risk management framework. The role involves collaborating with various departments to identify and manage risks associated with the Private Bank's operations and ensuring compliance with regulatory standards.

BankingFinanceFinancial Services

Responsibilities

Support the creation of and the ongoing maintenance of key Operational Risk framework activities, including but not limited to: Risk & Control Self-Assessment, Issue Management, Internal Operational Risk Loss Events, External Risk Events, Control Identification and Design, and Quality Assurance programs

Conduct reviews of incidents and issues and support identification of root-cause analysis, action plans, supporting documentation and testing of implemented controls to effectively remediate findings or issues

Conduct risk management assessment of new products and services, including enterprise change management programs, and adeptly identify process improvement opportunities such as the centralization of bifurcated payment controls and systems

Support the creation and ongoing maintenance of key risk and control data, inventory, and metrics, including ongoing reporting and metrics monitoring

Provide risk advisory and guidance on new policies and procedures, project initiatives, risk assessments, and risk remediation efforts impacting the Business Units

Ensure Risk Management Frameworks are effective to manage risks associated with the Private Bank’s strategic plan

Provide direction and expertise on the development of sufficient documentation including policies, procedures, processes, and user guides to increase efficiencies, reduce errors and mitigate risk

Ensure regulatory/compliance related requirements are embedded within Business Unit procedures and user guides

Ensure ongoing / annual reviews of Risk procedures to ensure accuracy and compliance with policies

Understand the current systems and their respective capabilities

Support the coordination of Internal Audits, Compliance Tests, and External Exams with Business Process Owners to ensure timely delivery and completeness of required documentation

Produce and gather document requests to support interactions with the Bank’s regulators and Internal Auditors

Prepare 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

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

Risk ManagementInternal ControlsOperational Risk ManagementSarbanes-Oxley CompliancePrivate Banking ExperienceProject ManagementAnalytical SkillsCommunication SkillsAttention to DetailRelationship Building

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 Private Banking and associated deposit and lending products

Proven ability to operate in fast-paced environment

Preferred

Education level preferred: Undergraduate Degree (4 years or equivalent) or equivalent experience in Finance, Economics, Business, Data & Analytic or similar

Understanding of Sarbanes-Oxley requirements and Risk and Control Self-Assessments (RCSA)

Working knowledge of operational risk management and audit industry best practices

Working knowledge of laws and regulations impacting financial institutions

Ability to manage and execute multiple complex projects within required timelines

Experience defining and documenting business processes and functions