Commercial & Private Bank Compliance Risk & Controls Associate

Position Title

Commercial & Private Bank Compliance Risk & Controls Associate

Location

New York, NY 10018

Job Summary

The Commercial & Private Bank Compliance Risk & Controls Associate will play an integral role in the design, buildout, transformation and implementation of a Compliance risk management framework as well as advise and oversee business lines through ongoing identification, assessment, and measurement of material risks and key controls. The Commercial & Private Bank Compliance Risk & Controls Associate, in this 1st Line of Defense (1LOD) role, will bring expertise in regulatory Compliance and risk experience in Commercial & Private Banking businesses.

• The Private Bank consists of Private Client Groups (PCGs) who are highly specialized in providing white glove service to High Net Worth and Commercial clients by offering Deposit products, lending, and products and services from Flagstar’s broader offerings.

• The Commercial Bank includes lending, finance, and banking focused on middle market Commercial & Industrial (C&I) companies. The organization also provides capital markets, foreign exchange and derivatives, treasury management products and services, and banking as a service.

This position will collaborate with senior members of Enterprise Compliance (2nd LOD) & Enterprise Risk Management (2nd LOD), Internal Audit (3rd LOD), and External Regulatory Agencies. This position is critical to supporting the strategy of the Commercial & Private Banks by ensuring prudent risk and compliance management which permit the bank grow profitably.

Pay Range: $76,326 - $101,768 - $110,656

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

Risk Advisory

• Supports the Commercial & Private Bank Business Risk & Controls Officer – Compliance Risk Officer in the buildout, implementation, and consistent execution of a Compliance Risk Management framework within the 1st LOD.
• Supports the Commercial & Private Bank Business Risk & Controls Officer – Compliance Risk Officer in the buildout, implementation, and consistent execution of the 1st LOD Compliance Risk roles and responsibilities associated with 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.
• Provides 1st Line with guidance with regard to the execution of Compliance Risk framework responsibilities with Business Process Owners including Enterprise Compliance Risk Assessments, Regulatory Compliance & Change Management, Customer Complaint Management, Compliance Testing, Issue Management, External Risk Events, Key Risk Indicators, Control Identification and Design, and Quality Assurance programs.
• Leads Compliance Risk management assessment of new products and services, including enterprise change management programs.
• Provides Compliance Risk advisory and guidance to the Business Process Owners including process and control design, early risk identification, control environment operating effectiveness, and policies and procedures.
• Provides guidance on assurance activities to help ensure that Compliance Risk Management Frameworks and controls are effective to manage risks associated with the Commercial & Private Banks strategic plan.
• Directly engages with Bank leaders on identified Compliance incidents and issues in root-cause analysis, action plans, supporting documentation and testing of implemented controls to effectively remediate findings or issues.
• Provides senior members of the Bank with risk advisory and guidance on project initiatives, risk assessments, and risk remediation efforts impacting the Business Units. 

Governance

• Supports the Commercial & Private Bank Business Risk & Controls Officer – Compliance Risk Officer in the buildout and implementation of a Business Unit Review Governance model and cadence for Commercial & Private Bank Business Units.
• Leads activities to help ensure compliance with all Enterprise Compliance policies and standards, and management of Compliance Risks within the Bank’s risk appetite. 
• Supports the Commercial & Private Bank Business Risk & Controls Officer – Compliance Risk Officer in the implementation of Compliance Risk management methodologies for Commercial & Private Bank Business Units.   
• Performs activities to help ensure that key risk and control data, inventory, metrics, and reporting are established and actively monitored.
• Performs activities to help ensure that Compliance Risk culture is imbedded across the Commercial & Pr