Wealth Management - Flagstar Advisors Risk & Controls Associate

Wealth Management - Flagstar Advisors Risk & Controls Associate

The Wealth Management Flagstar Advisors Risk & Controls Associate 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 Wealth Management Flagstar Advisors Risk and Controls Lead in this 1st Line of Defense (1st LOD) role will bring knowledge of and experience in regulatory requirements and risk experience in Wealth Management. The role will partner with the Private Bank & Wealth Management business as it develops a Chief Investment Office, Family Advisory & Trust, and Insurance practice.

Flagstar Advisors is a licensed broker-dealer and a member of the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investor Protection Corporation ("SIPC"). Flagstar Advisors is an introducing firm and, as such, clears its trades through National Financial Services, LLC ("NFS"), a wholly-owned subsidiary of Fidelity Investments. Flagstar Advisors partners with Envestnet Inc. to provide Investment Advisory research and reporting services. Flagstar Advisors provides these services to clients of the Private Bank. 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. This individual contributor will collaborate with colleagues in Enterprise Risk Management and Compliance (2nd LOD), and Internal Audit (3rd LOD). This position is critical to supporting the Commercial & Private Banking strategy, the Bank's ability to meet large bank regulatory heightened standards, and will provide 1st LOD Leadership by ensuring prudent risk and compliance management which can permit the bank grow profitably.

Pay Range : $84,878 - $112,463 - $140,049 Pay Range : Local Minimum Wage - $0.00 - $0.00

Job Responsibilities

Risk Framework

• Supports the Wealth Management Risk & Control organization in the 1st LOD with execution of risk and control programs adhering to the Risk Governance Framework
• Supports the transformation of a Non-Financial Risk Management framework and consistently executes the framework.
• Exemplifies high level of acumen across Enterprise Risk stripes - Operational, Compliance, Strategic, Credit, Liquidity, Interest Rate, Price, and Reputational Risk.
• Consistently executes 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.
• 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 while supporting the ongoing improvement and transformation of these areas.
• Directly engages with Broker Dealer and 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.
• Coordinates risk management assessment of new products and services, including enterprise change management programs, and can adeptly identify process improvement opportunities involving Broker Dealer Advisor oversight practices and third-party platforms.
• Provides risk advisory and guidance to the Business Process Owners / Advisors including process and control design, early risk identification, control environment operating effectiveness, policies and procedures, vendor risk, model risk, and data governance.
• Provides risk advisory and guidance leadership on project initiatives, risk assessments, and risk remediation efforts impacting the Wealth Management Business Unit.
• Ensures Risk Management Frameworks are effective to manage risks associated with the Wealth Management and Flagstar strategic plan.

Bank Initiative Partner

Governance

Risk Advisory Guidance and Communication

Procedure & Process Management

Additional Accountabilities

Job Requirements

Required Qualifications :

Preferred Qualifications :

Job Competencies :