Commercial & Private Bank Business Risk & Controls Officer - Compliance

$165,621 - $223,588/Yr

Flagstar Bank - Albany, NY

Full-time - Senior

Albany, NY

Credit Intermediation and Related Activities

About the position

The Commercial & Private Bank Business Risk and Controls Officer - Compliance Risk is responsible for designing, building, transforming, and implementing a risk management framework within the Commercial & Private Banking sectors. This role involves leading the identification, assessment, and measurement of material risks and key controls, ensuring compliance with regulatory requirements, and collaborating with various stakeholders to support the bank's strategic goals while managing risks effectively.

Responsibilities

• Head the Compliance Risk & Control organization in the 1st Line of Defense (1st LOD).
• Build, lead, implement, and execute a Compliance Risk Management framework within the 1st LOD.
• Execute Compliance Risk roles and responsibilities associated with a Risk Governance Framework.
• Lead execution support of Compliance Risk framework responsibilities with Business Process Owners.
• Drive Compliance Risk management assessment of new products and services.
• Provide Compliance Risk advisory and guidance to Business Process Owners.
• Engage with Bank leaders on identified Compliance incidents and issues.
• Build and implement a Business Unit Review Governance model for Commercial & Private Bank Business Units.
• Ensure compliance with all Enterprise Compliance policies and standards.
• Implement Compliance Risk management methodologies for Commercial & Private Bank Business Units.
• Ensure key risk and control data, inventory, metrics, and reporting are established and monitored.
• Embed Compliance Risk culture across the organization with appropriate training.
• Influence and engage in Enterprise Compliance & Risk forums.
• Interact with the Bank's regulators and Internal Auditors.
• Coordinate Internal Audits, Compliance Tests, and External Exams with Business Process Owners.
• Assist in interpreting complex regulatory requirements and communicate impacts to business lines.
• Support development of communication methods for policy and regulatory updates.
• Evaluate assigned Business Unit processes for regulatory consistency.
• Provide direction on documentation development to increase efficiencies and mitigate risk.

Requirements

• Undergraduate Degree in Finance, Economics, Business, Data & Analytics or similar.
• 15+ years of Compliance risk and internal control experience.
• Experience in Private Banking and associated deposit and lending products or Commercial Banking and associated lending and deposit products.
• Large Bank experience preferred.
• Proven ability to lead and execute in change management environments.
• Experience in acquisition/integration environments.

Nice-to-haves

• Demonstrated effectiveness in managing operational requirements in banking specialties.
• 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.

Benefits

• Competitive salary range from $165,621 to $281,556.
• Comprehensive health insurance coverage.
• 401k retirement savings plan with matching contributions.
• Paid time off and holidays.
• Opportunities for professional development and training.