ERM Banking Product Associate

4 days ago


Hicksville, United States Flagstar Bank Full time
Pay range: 83K - 103K JOB SUMMARY Flagstar Bank, N.A is committed to delivering exceptional banking services while adhering to industry best practices and regulatory expectations around risk management and compliance. We are looking for a New Product Analyst to join our Enterprise Risk Management team in the Risk Management Division to ensure that our new products are assessed and reviewed in line with our risk management frameworks.

JOB RESPONSIBILITIES

The New Product Analyst will play a critical role in developing and maintaining standards for risk assessment of new products and services from a risk and compliance perspective. This position will involve collaboration with various business units to evaluate product proposals, ensuring they meet align with the bank's risk appetite and support strategic objectives. The Analyst will support the Head of New Products by:

  • Work closely with product development teams within the Business Lines and within the Risk Management Division to ensure that new products policies and standards are well understood and being adhered to, and that the credit, operational, market, reputational, liquidity, and compliance risks are being adequately identified, assessed, and mitigated during the new product planning and launch period.
  • Prepare comprehensive risk assessment reports and product reviews for presentation to senior management and relevant governance committees.
  • Establish metrics and monitoring processes to assess the ongoing performance and risk exposure of new products pre- and post-launch.
  • Assist in developing and administering training on the New Product processes across the business areas and the lines of defense.
  • Maintaining tools and templates to support the new product risk assessment and approval process, including, developing business requirements for enhancements to systems, maintaining policies and procedures and templates, and maintaining logs of the new products and their status through the process.
  • Supporting the incoming enquiries from regulator, internal audit and consultants by facilitating the provision of documents, data and analytics.

ADDITIONAL ACCOUNTABILITIES

  • Performs special projects, and additional duties and responsibilities as required.
  • 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.

JOB REQUIREMENTS

Required Qualifications:

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

Preferred Qualifications:

  • Masters’ Degree.
  • Banking Background (1-3 years).
  • Risk Management Background (1-3 years).
  • Consulting Background (1-3 years).
  • Banking IT and Operations / workflows.

Job Competencies:

  • Knowledge of banking risk management concepts, practices and procedures.
  • Knowledge of retail and commercial banking products
  • Excellent Presentation Development Skills.
  • Excellent Communication skills (written, verbal, listening).
  • Advanced Microsoft Office Skills (PPT/ Excel).
  • Inquisitive Nature.
  • Good business judgment.

Flagstar is an Equal Opportunity Employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identify, or national origin. 



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