ERM New Product Analyst

$83,000 - $103,000/Yr

Flagstar Bank - Hicksville, NY

Full-time

Hicksville, NY

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 in accordance with risk management frameworks. This position is essential for ensuring that new products align with the bank's risk appetite and strategic objectives, while also adhering to regulatory and compliance standards.

Responsibilities

• Develop and maintain standards for risk assessment of new products and services.
• Collaborate with various business units to evaluate product proposals.
• Ensure adherence to new product policies and standards within product development teams.
• Identify, assess, and mitigate credit, operational, market, reputational, liquidity, and compliance risks during the new product planning and launch period.
• 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 pre- and post-launch.
• 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.