CRE Business Risk and Controls Associate

Position TitleCRE Business Risk and Controls AssociateLocationNationwide, MI 48098Job SummaryThe Commercial Real Estate Business (CRE) Risk & Internal Controls Associate will help support the CRE business with the 1st Line of Defense (LOD) risk management framework, which can include the following activities: Risk and Control Self Assessment (RCSA), Loss Events, Enterprise Change Management and a multitude of projects that comes to the business needing risk support. The CRE Associate will bring experience in risk management practices and/or experience in Commercial Real Estate products and services. The Associate will collaborate with colleagues in Enterprise Risk Management and Compliance (2nd LOD) and Internal Audit (3rd LOD). The position requires attention to detail and well-developed organizational skills. This position is critical to supporting the mission of the Banking Group to ensure risk compliance and successful execution which permit the bank grow profitably. Pay Range: $71,962 - $95,950 - $109,080Pay Range: Local Minimum Wage - $0.00 - $0.00Job Responsibilities:JOB RESPONSIBILITIES Risk ReportingAt the direction of the Business Risk & Controls Officer (BRCO) for Commercial Real Estate (CRE), act as the designated point of contact within 1LOD for assigned Risk programsExecute essential risk program functions, including Risk & Control Self Assessments (RCSA), Key Risk Indicators (KPIs), Issue Management, Operational Losses reporting and more.Consistently executes a Non-Financial Risk Management 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 for the CRE business, including Risk Culture, Risk Appetite, Roles and Responsibilities, Risk Governance, Risk Assessment, and Risk Monitoring & Reporting.Directly engages with business leadership on identified incidents and issues in root cause analysis, action plans, supporting documentation and testing of implemented controls to effectively remediate findings or issues.Assistance in risk management assessment of new products and servicesProvides risk advisory and guidance leadership to the Business Process Owners including process and control design, early risk identification, control environment operating effectiveness, policies and procedures, vendor risk, model risk, and data governance.Bank Initiative PartnerActively influences and engages in Enterprise Risk and Compliance forums and socializes with CRE leaders.Directly interacts with the Bank’s Second and Third Line of Defense.Works closely with the following Business Unit partners:, Enterprise Risk Management, Internal Audit, Regulatory Compliance, Business Process Owners, and Shared Services organizations.Assists in the coordination of Internal Audits, Compliance Tests, and External Exams with Business Process Owners to ensure timely delivery and completeness of required documentation.GovernanceConsistently executes Business Unit Review Governance model and cadence for the CRE Business Unit.Ensures compliance with all Enterprise Risk management policies and standards, and management of Enterprise Risks within the Bank’s risk appetite. Implements risk management methodologies for CRE Unit. Ensures key risk and control data, inventory, metrics, and reporting are established and actively monitored.Ensures risk culture is imbedded across the CRE organizations with an appropriate training regimen.Risk Advisory Guidance and CommunicationAssists in the interpretation of regulatory requirements and effectively communicates the potential impact to affected business lines. Supports the development and implementation of regular communication and training methods to keep employees informed of policy, procedural and regulatory updates. Regularly evaluates assigned Business Unit processes and practices to ensure consistency with applicable regulatory requirements and expectations. Stays abreast of compliance and regulatory changes at Flagstar and within the industry to continue to act as a risk subject matter expert for advising and monitoring processes across the Business Units.Procedure & Process ManagementProvides direction and expertise on development of sufficient documentation including policies, procedures, processes, and user guides to increase efficiencies, reduce errors and mitigate risk.Ensures regulatory/compliance related requirements are embedded within Business Units procedures and user guides. Understands the current systems and their respective capabilities. ADDITIONAL ACCOUNTABILITIESPerforms special projects for assessments, and additional duties when needed with the businessConsistently 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 f