Commercial & Private Bank Business Risk & Controls Officer- Treasury Management & Banking as a Servi

The Treasury Management and Banking as a Service (BaaS) Business Risk and Controls Officer will help to design, build, transform and implement a risk management framework and lead the ongoing identification, assessment, and measurement of the business line’s material risks and key controls.

The Business Risk and Controls Officer in this 1st Line of Defense (1st LOD) role will bring expertise in regulatory requirements and risk experience in Commercial & Private Banking, as well as in Treasury Management or Banking as a Service (BaaS) 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 BaaS.

Treasury Management provides sales and product support to the Commercial and Private Banks including receivables and payables solutions and cash management optimization tools.

Banking as a Service (BaaS), including Government Banking, drives deposits and fee income with products and services to government agencies and state partnerships such as a pre-paid debit card program.

This leader will collaborate with colleagues in Enterprise Risk Management and Compliance (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.

The salary range for this position is $117,184.74- $174,604.26- $203,315.53

JOB RESPONSIBILITIES :

Risk Advisory

• 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, and consistently executes a Risk Governance Framework subject to Bank regulatory heightened standards for the Treasury and BaaS businesses, 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-Assessments, Issue Management, Internal Operational Risk Loss Events, External Risk Events, Key Risk Indicator, Control Identification and Design, and Quality Assurance programs.
• Drives risk management assessment of new products and services, including enterprise change management programs.
• 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.
• Ensures Risk Management Frameworks are effective to manage risks associated with the Commercial & Private Banks strategic plan.
• 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.
• Provides risk advisory and guidance on project initiatives, risk assessments, and risk remediation efforts impacting the Business Units.

Bank Initiative Partner

• Actively influences and engages in Enterprise Risk and Compliance forums and socializes with Treasury Management and BaaS leaders.
• Directly interacts with the Bank’s regulators 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

• Actively executes appropriate Business Unit Review Governance model and cadence for Treasury Management and BaaS Business Units.
• 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 Treasury Management and BaaS Business Units.
• Ensures key risk and control data, inventory, metrics, and reporting are established and actively monitored.
• Ensures risk culture is imbedded across the Treasury and BaaS organizations with an 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 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.
• Ensures ongoing / annual reviews of Risk procedures to ensure accuracy and compliance with policies.
• Understands the current systems and their respective capabilities.

ADDITIONAL ACCOUNTABILITIES

• 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.
• 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.

Responsible for talent management functions including : employment, performance evaluations, staff development / training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.

JOB REQUIREMENTS

Required Qualifications :

• Education level required : Undergraduate Degree (4 years or equivalent) in Finance, Economics, Business, Data & Analytics or similar.
• Minimum experience required : 10+ Years of risk and internal control experience.
• Experience in one of the following banking specialties determined by the position :
• Private Banking and associated deposit and lending products.
• Commercial Banking and associated lending and deposit products, particularly within Treasury Management and / or Government Banking.
• Large Bank experience preferred.
• 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 Non-Financial 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 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.