Enterprise Compliance has many responsibilities related to managing the bank's risk to ensure adherence with compliance requirements. One of the main responsibilities is to provide continued leadership and implementation of an enterprise wide compliance culture by supporting and enforcing the Bank's established Compliance Management Program to ensure compliance with all applicable State and Federal laws, rules and regulations, along with other requirements the bank may from time to time be required to comply with. This role will be responsible for the maintenance of internal department policies and procedures. This position will serve a vital role in the Flagstar Enterprise Compliance Department and will be an integral part of the company's overall risk strategy.
Maintenance of Regulatory Compliance Owned Policies Develop a process for ensuring policies are updated annually;
Prepare policies for review by compliance advisors;
Act as gatekeeper for all assigned policies, tracking compliance advisor updates and additional stakeholder (enterprise risk, legal and business units) reviews;
Establish and maintain close working relationships with business partners to ensure timely updates of policies;
In conjunction with the Regulatory Change process, review regulatory changes to assist with determining whether policies should be updated or created;
Ensure compliance with policy requirements by coordinating and obtaining required sign offs and approvals;
Prepare policy memos for committee approval; and
Handle the review of other company policies requiring Regulatory Compliance review.
Maintenance of Regulatory Compliance Department Procedures Create a process for ensuring procedures are updated annually by procedure owners;
Maintain Compliance department procedures as assigned and ensure they are accurate and effective;
Work with procedure owners to keep procedures updated;
Obtain necessary approvals;
Communicate procedure updates or training to impacted members of Regulatory Compliance
Responsible for Responding to Regulatory Compliance Information or Document Requests from Regulators, Internal Auditors, mortgage servicing rights holders/government sponsored entities Act as the liaison for providing Regulatory Compliance specific information in response to requests from regulators, internal audits, GSEs, and MSR owners, among others;
Create standard template responses for frequently requested information or documents;
Obtain necessary approvals.
Perform other duties and special projects as assigned
Complete all required training and help ensure team completes training
Share with team and maintain knowledge of and adhere to, Flagstar's internal compliance policies and procedures
Provide timely, regular and effective reporting to the Compliance department, management and others, as appropriate regarding compliance matters.
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: Education level required: Undergraduate Degree (4 years or equivalent) or comparable work experience.
Minimum experience required: 5+ Years regulatory compliance experience specifically in a financial institution. Preferred Qualifications: Certified Regulatory Compliance Manager (CRCM), Certified Risk Professional (CRP) and/or Certified Internal Auditor (CIA) desirable.
Job Competencies: Solid understanding of laws and regulations impacting financial institutions.
Able to manage and execute multiple complex projects within required timelines and expectations required.
Excellent communication skills required; including reports, presentations, group facilitation skills, ability to develop and maintain professional relationships and networking skills.
Proven ability to partner effectively across all levels of the organization and develop positive working relationships.
Demonstrated conceptual thinking and analytical skills.
Ability to work independently in continuously changing environment.
Inquisitive nature, resourceful, and ability to seek out information and develop sound conclusions and strategies
Physical demands (ADA): No unusual physical exertion is involved.
