Private Bank Business Risk & Internal Controls Lead

Position Title

Location

Job Summary

Job Responsibilities:

Risk Advisory Framework

• Supports the Private Banking Risk & Control organization in the 1st LOD, and responsible for building a risk organization to support the Private Bank.
• Supports the execution of the Non-Financial Risk Management framework across the Private Bank.
• Commands in-depth knowledge of Operational Risk and high-level acumen across Enterprise Risk stripes (e.g. Compliance, Strategic, Credit, Liquidity, Interest Rate, Price, and Reputational Risk).
• Develops and implements the 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.
• Supports the development and 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.
• 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.
• Conducts risk management assessment of new products and services, including enterprise change management programs, and can adeptly identify process improvement opportunities such as the centralization of bifurcated payment controls and systems.
• 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.
• Provides risk advisory and guidance on project initiatives, risk assessments, and risk remediation efforts impacting the Business Units. 
• Ensures Risk Management Frameworks are effective to manage risks associated with the Private Bank’s strategic plan.

Bank Initiative Partner

• 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 to ensure timely delivery and completeness of required documentation.
• Support interactions with the Bank’s regulators (including the OCC and FRB) and Internal Auditors.

Governance

• Actively executes appropriate Business Unit Review Governance model and cadence for the Private Bank.
• 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 Private Bank.   
• Ensures key risk and control data, inventory, metrics, and reporting are established and actively monitored.
• Ensures risk culture is imbedded across the assigned banking group with 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 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.

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 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. 
• 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.

ADDITIONAL ACCOUNTABILITIES

• 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.

Required Qualifications:

• Education level required: Undergraduate Degree (4 years or equivalent) in Finance, Economics, Business, Data & Analytic or similar.
• Minimum experience required: 10+ Years of risk and internal control (or similar) experience.
• Experience in Private Banking and associated deposit and lending products.
• Large Bank experience.
• Experience leading and executing 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 operational risk management and audit industry best practices.
• Advanced understanding of laws and regulations impacting financial institutions.
• Experience managing and executing 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.

• Flagstar is an Equal Opportunity Employer.