Operational Risk Management Specialist
The Operational Risk Management (ORM) Program Office is responsible for managing and maintaining the Enterprise Risk Management (ERM) Framework designed to ensure that Flagstar's risks are appropriately managed in accordance with regulatory guidelines. Management of the ERM Framework requires oversight and execution of Risk and Control Self-Assessments (RCSA), Issue Management, Operational Loss Reporting, and ERM policies. The ORM Risk Analyst will be reporting to the ORM Program Office Sr. Manager, and supporting the department managers.
15% of time: Consolidate and prepare monthly Issue Management & Reporting.
15% of time: Partner with business units to monitor their issue remediation activity and ensure that they are on track to resolve the issue. Gather substantiation from business unit and conduct review to ensure that issue has been appropriately resolved.
40% of time: Risk and Control Self-Assessment (RCSA) Support and analysis of controls to mitigate risk. Identify residual risk that remains from the appropriate controls being put in place to address inherent risk.
10% of time: Operational Loss Reporting. Collect the dollars associated with that happening to the operations of our business. Record and report that. Elements of fraud, theft, etc. are operational losses. Prepare reports of operational loss and recommendations to avoid future loss for delivery to the executive team.
5% of time: Assist in the management and maintenance of the Risk Register database.
10% of time: Support Adhoc initiatives as required.
5% of time: Training and Administrative Requirements
Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Bachelor's Degree Required Field of Study (Business Administration, Finance, Accounting, or IT) Preferred or 3 to 5 years Comparable Work Experience (Of like activity/client base)
1+ years of experience in a similar Operational Risk role at a financial institution developing and executing the following: risk assessments, issue management, operational loss tracking, monitoring of key risk indicators, operational risk reporting. This includes presenting and interacting with Senior-level Management.
Alternatively, 1-3 years of experience in Internal Controls, Fraud, Quality Control, or Risk experience preferably with a financial institution. This includes presenting and interacting with Executive Management.
Demonstrated critical thinking and analytical skills
Outstanding written and verbal communications skills
Capability to review work products for quality (e.g., reports, white papers, memos and presentations to executive management).
Ability to work autonomously, handle multiple projects simultaneously and consistently meet deadlines
Ability to collaborate closely with business process owners and other members of the team
Strong organizational skills with close attention to detail
Ability to comprehend and perform simple SQL coding.
1-3 years of experience implementing Enterprise Risk Management processes.
Capability to produce clear, concise written work products (e.g., reports, white papers, memos and presentations to executive management).
Background in Mortgage Banking, Community Banking, Enterprise Risk, or Internal Audit
Functional experience in the following areas: Mortgage Originations, Mortgage Servicing, Retail Banking, Commercial Lending, Treasury, Enterprise Risk
Prior experience in collaborating with regulators, auditors, and compliance
Technical background with ability to develop custom SQL code
Internal Use Only: Pay Band: H