ERM New Product Analyst

$83,000 - $103,000/Yr

Flagstar Bank - Auburn, IN

Full-time - Mid Level

Auburn, IN

Credit Intermediation and Related Activities

About the position

The ERM New Product Analyst at Flagstar Bank plays a vital role in the Enterprise Risk Management team, focusing on the assessment and review of new products to ensure compliance with risk management frameworks. This position involves collaboration with various business units to evaluate product proposals, ensuring alignment with the bank's risk appetite and strategic objectives. The Analyst will support the Head of New Products in developing standards for risk assessment and preparing comprehensive reports for senior management.

Responsibilities

• Develop and maintain standards for risk assessment of new products and services.
• Collaborate with product development teams to ensure adherence to new product policies and standards.
• Identify, assess, and mitigate credit, operational, market, reputational, liquidity, and compliance risks during product planning and launch.
• Prepare comprehensive risk assessment reports and product reviews for senior management and governance committees.
• Establish metrics and monitoring processes for ongoing performance and risk exposure of new products.
• Assist in developing and administering training on New Product processes across business areas.
• Maintain tools and templates to support the new product risk assessment and approval process.
• Facilitate provision of documents, data, and analytics for inquiries from regulators, internal audit, and consultants.

Requirements

• Bachelor's degree in Business Administration, Accounting, Finance, or related field.
• Two to five years of relevant industry experience.
• Knowledge/experience in banking risk management.

Nice-to-haves

• Master's Degree.
• 1-3 years of banking background.
• 1-3 years of risk management background.
• 1-3 years of consulting background.
• Experience in banking IT and operations/workflows.

Benefits

• Competitive salary range of $83K - $103K.