Consumer Bank Risk and Controls Leader (Finance)

Position Title
Consumer Bank Risk and Controls Leader

Location
Troy, MI 48098

Job Summary
JOB SUMMARY
The Consumer Bank Risk & Controls Leader will be assigned to one of the following Consumer Bank business areas; Small Business & Retail Wealth Services, Deposit & Payments or Mortgage & Consumer Finance. This leader ("Leader") will lead the design, build, transformation and implementation of a 1st Line of Defense (1st LOD) risk management framework and lead the ongoing identification, assessment, and measurement of the business line's material risks and key controls. The Leader will bring extensive expertise in Risk Management frameworks and programs (New Initiatives, Issues Management, Metrics (KRI/KPI), RCSA, Operational Loss, Scenario Analysis, Third Party Risk, Model Risk, Data Governance, etc.), have a strong knowledge of regulatory requirements, and vast experience in Consumer Banking.

This leader will collaborate with colleagues in Enterprise Operations, Technology, Risk Management and Compliance (2nd LOD), Internal Audit (3rd LOD), and External Regulatory Agencies.

This position is critical to supporting Flagstar's and the Consumer Bank's strategy, the Bank's ability to meet large bank regulatory heightened standards, and will provide 1st LOD Leadership by ensuring prudent risk and compliance management which can permit the bank grow profitably.

Pay Range: 140,622 - $171,090 - $201,558

Job Responsibilities:

JOB RESPONSIBILITIES

Risk Advisory Framework

• Leads the risk & control function in the 1st LOD for one of the Consumer Bank business areas (Small Business and Retail Wealth Services, Deposit & Payments or Mortgage & Consumer Finance). Responsible for supporting and challenging the delivery of products to clients of the Consumer Bank.
• 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, transforms, and 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.
• Builds, leads, transforms, and consistently executes Risk & Control Self-Assessment, Issue Management, Internal Operational Risk Loss Events, External Risk Events, Control Identification, Control Design and Testing, and Quality Assurance / Quality Control 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.
• Leads and drives 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 leadership 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 leadership on project initiatives, bank integration programs, risk assessments, and risk remediation efforts impacting the Consumer Bank.
• Ensures Risk Management Frameworks are effective to manage risks associated with the Consumer Bank's strategic plan.

Bank Initiative Partner

• Actively influences and engages in Enterprise Risk and Compliance forums and socializes with Consumer Banking business leaders.
• Directly interacts with the Bank's regulators (including the OCC and FRB) 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

• Builds, leads, and implements appropriate Business Unit Review Governance model and cadence for the Consumer 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 Consumer 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 Consumer business groups and 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.
• Prepares comprehensive written reports and summaries communicating results of findings and highlighting overall business risk.

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.
• Prepares comprehensive written reports and summaries communicating results of findings and highlighting overall business risk, where necessary.
• Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects related to risk identification and assessments, including gap analyses, where 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.

JOB REQUIREMENTS

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 Consumer Banking and associated consumer banking business area (Deposits & Payments, Small Business & Wealth Services, Mortgage & Consumer Finance).
• Large Bank experience.
• 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 operational 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 Leadership skills, both through leading a team as well as leading larger stakeholder / business organizations.
• 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.