Compliance Advisor - Commercial Lending And Banking

Position Title
Compliance Advisor - Commercial Lending and Banking
Location
Headquarters-Troy, MI
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 Advisor 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:

• 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
• 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
• Work with BU and Compliance Assurance Manager to develop BU annual testing plan
• Review new and existing vendors for potential compliance concerns
• prepare risk assessments
• 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
• Complete all required compliance training; maintain knowledge of Flagstar policies and procedures; maintain compliance policies and procedures

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) in Business Administration, Finance, Accounting, Law or related field, or equivalent work experience.
• Minimum experience required: 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 a financial institution.

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent) Business Administration, Finance, Accounting, Law or related field, or equivalent work experience.
• Advanced PC systems skills including proficiency with Microsoft Word, Excel, PowerPoint and other reporting systems.
• CRCM Preferred

Job Competencies:

• 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.
• Understands the importance or relationships to enable effective teamwork. Modifies personal style, focuses on the needs of others, and listens effectively to ensure effective outcomes for group endeavors. (Insert knowledge/skills/abilities required)
• Takes a dynamic approach to work characterized by initiating decisions and actions. Concentrates on achieving the outcomes of a process or project while adhering to the overall strategy of the organization. Creates a culture of accountability and performance.
• Demonstrates attributes of ethical behaviors, high personal standards, and sound work ethic all employers should expect of employees. Consistently treats others with respect and understanding. Responds in a timely manner to all customers and co-workers.
• Minimal Travel
• Physical demands (ADA): No unusual physical exertion is involved.