Compliance Partner - Banking
Flagstar Bank FSB

Job Info

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Job Summary
Regulatory Compliance is responsible for developing and maintaining a Compliance Management Program for the Bank that reasonably ensures compliance with consumer protection laws and regulations, addresses associated risks of harm to consumers and customers, and integrates consumer compliance into the day-to-day responsibilities of its management and employees.

This visible role works with business unit risk partners to support the Compliance Management Program.

The Compliance Partner will maintain broad and deep knowledge of assigned business unit processes and the consumer protection laws and regulations that pertain to them, serve as the subject matter expert to the assigned business unit on consumer protection matters, and assist the business unit(s) in reasonably ensuring compliance with the applicable consumer protection laws and regulations.

This position will serve a vital role in the Regulatory Compliance Department and will be an integral part of the company's overall risk management strategy.

Job Responsibilities:

• Using independent and sound judgment, provide subject matter expert advice to assigned BU's regarding applicable servicing consumer compliance regulations while collaborating, advising, and coordinating with Compliance leaders. Applicable regulations include but are not limited to CFPB Deposit Reconciliation, EFTA, ESIGN, Reg CC, HMDA, Overdraft, Guidance, RESPA, NDIP, Sales Practices, TISA, TILA, FCRA, SCRA, FDCPA, FDPA, and applicable State requirements.
• Maintain close contact with assigned BUs to keep apprised of objectives, strategy, new initiatives, emerging issues/risks
• Stay abreast of BU processes and applicable consumer compliance laws and regulations
• Provide advice, counsel and recommendations to BUs on consumer compliance questions/issues
• More advanced duties may include designation of subject matter expert for certain consumer compliance laws/regulations.
• Periodically review policies and procedures (especially changes) to ensure they meet regulatory requirements
• Assist in developing and implementing action plans to comply with any new/revised consumer compliance laws and regulations
• Facilitate completion of Consumer Compliance Risk Assessment
• Work with BU and Compliance Training Manager to develop BU annual training plan
• Work with BU and Compliance Assurance Manager to develop BU annual testing plan
• Develop Key Risk Indicators (KRIs) for early warning signs of compliance concerns
• Monitor various indicators of risk - KRIs, QC results, Compliance Testing results, ERM Issue Management Report, complaints, risk assessment results, etc. to identify weaknesses and assist in remediating
• Review new products/services for potential compliance concerns; prepare risk assessments
• Review new and existing vendors and debt buyers for potential compliance concerns; prepare risk assessments
• Review marketing materials and other external-facing communications for potential compliance issues (as applicable)
• Monitor for emerging risks and industry fines/penalties; conduct "Could this happen at Flagstar?" analyses
• Complete all required compliance training
• Maintain knowledge of, and adhere to, Flagstar's internal compliance policies and procedures
• Maintain Regulatory Compliance department procedures as assigned
• Maintain knowledge of changing consumer compliance regulations
• Ensure compliance with applicable federal, state and local laws and regulations
• Perform other duties and special projects as assigned
• Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.

Job Requirements:

• Bachelors Degree with field of study in Business Administration, Finance, Accounting , Law or related field preferred or Comparable Work Experience
• Preferred CRCM Certification
• Advanced PC systems skills including proficiency with Microsoft Word, Excel, PowerPoint and other reporting systems preferred.
• 5+ years of experience in a financial institution, auditing firm, or consulting firm with a regulatory compliance focus
• Regulatory Compliance, Risk, or Internal Audit experience
• Bank operations experience in mortgage originations, mortgage servicing, community banking, etc.
• Knowledge of consumer protection laws and regulations impacting financial institutions
• Able to manage and execute multiple complex projects within required timelines and expectations
• Demonstrated conceptual thinking and analytical skills
• Ability to work independently in a continuously changing environment
• Inquisitive, resourceful, and able to seek out information and develop sound conclusions and strategies
• Excellent communication skills, including report writing, oral presentations, group facilitation skills, etc.
• Ability to develop and maintain professional relationships
• Proven ability to partner effectively across all levels of the organization
• Travel: Minimal

Internal Use Only: Band F

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