Job Description

Position Title

CRE Business Risk and Controls Associate

Location

Nationwide, MI 48098The Commercial Real Estate Business (CRE) Risk & Internal Controls Associate will help support the CRE business with the 1st Line of Defense (LOD) risk management framework, which can include the following activities: Risk and Control Self Assessment (RCSA), Loss Events, Enterprise Change Management and a multitude of projects that comes to the business needing risk support. The CRE Associate will bring experience in risk management practices and/or experience in Commercial Real Estate products and services.

The Associate will collaborate with colleagues in Enterprise Risk Management and Compliance (2nd LOD) and Internal Audit (3rd LOD). The position requires attention to detail and well-developed organizational skills. This position is critical to supporting the mission of the Banking Group to ensure risk compliance and successful execution which permit the bank grow profitably.

Pay Range: $71,962 - $95,950 - $109,080Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

JOB RESPONSIBILITIES

Risk Reporting

• At the direction of the Business Risk & Controls Officer (BRCO) for Commercial Real Estate (CRE), act as the designated point of contact within 1LOD for assigned Risk programs
• Execute essential risk program functions, including Risk & Control Self Assessments (RCSA), Key Risk Indicators (KPIs), Issue Management, Operational Losses reporting and more.
  • 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.
  • Consistently executes a Risk Governance Framework subject to Bank regulatory heightened standards for the CRE business, including Risk Culture, Risk Appetite, Roles and Responsibilities, Risk Governance, Risk Assessment, and Risk Monitoring & Reporting.
  • Directly engages with business leadership on identified incidents and issues in root cause analysis, action plans, supporting documentation and testing of implemented controls to effectively remediate findings or issues.
  • Assistance in risk management assessment of new products and services
  • 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.

Bank Initiative Partner

• Actively influences and engages in Enterprise Risk and Compliance forums and socializes with CRE leaders.
• Directly interacts with the Bank’s Second and Third Line of Defense.
• Works closely with the following Business Unit partners:, Enterprise Risk Management, Internal Audit, Regulatory Compliance, Business Process Owners, and Shared Services organizations.
• Assists in the coordination of Internal Audits, Compliance Tests, and External Exams with Business Process Owners to ensure timely delivery and completeness of required documentation.

Governance

• Consistently executes Business Unit Review Governance model and cadence for the CRE Business Unit.
• 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 CRE U nit.
• Ensures key risk and control data, inventory, metrics, and reporting are established and actively monitored.
• Ensures risk culture is imbedded across the CRE organizations with an appropriate training regimen.

Risk Advisory Guidance and Communication

• Assists in the interpretation of 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.
• Understands the current systems and their respective capabilities.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects for assessments, and additional duties when needed with the business
• 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.
• Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent
• Minimum experience required: 4+ Years.
• Experience in Risk Management and/or Commercial Real Estate
• Proven ability to lead and execute in change management environments.
• Experience in acquisition / integration environments.

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent) in Finance, Economics, Business, Data & Analytics or similar.
  • Demonstrated effectiveness in managing operational requirements, preferably in the assigned banking specialty
  • Advanced understanding of Non-Financial Risk management and audit industry best practices
  • Advanced understanding of laws and regulations impacting financial institutions
  • Demonstrated experience managing and executing multiple complex projects within required timelines.

Job Competencies:

• Demonstrated ability to follow company policies, guidelines and procedures.
• Proven ability to partner effectively across all levels of the organization and develop positive working relationships.
• Strong attention to detail, highly organized, and ability to prioritize.
• Ability to think critically and logically.
• Proactive self-starter with a strong work-ethic.
• Strong verbal and written communication skills, including use of PowerPoint and Excel
• Ability to manage change and problem solve
• Demonstrated ability to maintain confidentiality using tact and diplomacy.

• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• 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

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Qualified applicants with arrest or conviction records will be considered for employment in accordance with the California Fair Chance Act, the Los Angeles County Fair Chance Ordinance, the City of Los Angeles Fair Chance Initiative for Hiring Ordinance, and the San Francisco Fair Chance Ordinance, as appliable.