Risk Management Specialist

4 days ago


New York, New York, United States Flagstar Bank Full time

At Flagstar Bank, we're seeking a seasoned Risk Management Specialist to join our team in Commercial & Private Banking. This critical role plays a vital part in ensuring the effective management of risk within our organization.

Job Overview

This position is responsible for designing, building, and implementing risk management frameworks, as well as leading the ongoing identification, assessment, and measurement of material risks and key controls across Commercial & Private Banks.

The ideal candidate will possess expertise in Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) Compliance requirements and risk experience in Commercial & Private Banking businesses.

Main Responsibilities
  • Risk Advisory: Build, lead, implement, and execute an AML Risk Management framework within the 1st Line of Defense. Develop a risk governance and oversight framework for 1st LOD AML responsibilities performed by Business Process Owners when opening new customer accounts and monitoring existing customer accounts.
  • Governance: Implement and lead a 1st LOD High Risk customer escalation review process, including customer relationships that bear Reputational Risk to the Bank. Ensure compliance with all FCC & Enterprise Compliance policies and standards, and manage AML Compliance Risks within the Bank's risk appetite.
  • Bank Initiative Partner: Actively influence and engage in Global Financial Crimes Compliance (FCC) forums and socialize with Commercial & Private Bank leaders. Directly interact with the Bank's regulators and Internal Auditors.
Requirements
  • Education level required: Undergraduate Degree (4 years or equivalent) in Finance, Economics, Business, Data & Analytics or similar.
  • Minimum experience required: 10+ Years of AML Compliance / Risk and internal control experience.
  • Experience in one of the following banking specialties determined by the position:
    • Private Banking and associated deposit and lending products.
    • Commercial Banking and associated lending and deposit products.
Salary Range:

$165,621 - $223,588 - $281,556 per year, depending on location and qualifications.



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