New York Community Bank
Job title: Deputy Chief Risk Officer
Company: New York Community Bank
Job description: JOB DESCRIPTION
The Deputy Chief Risk Officer is responsible to assist the Chief Risk Officer (CRO) with design, implementation, and maintenance of an effective risk management program that aligns to applicable regulatory guidance and is commensurate with the Company’s size, scope and complexity. The Deputy Chief Risk Officer reports to the Chief Risk Officer (CRO) and is expected to work closely with Flagstar’s Executive Leadership team across all lines of defense to effectively measure, monitor and manage the key risks of the organization. The Deputy CRO is further responsible to assist and support the CRO with providing leadership, risk governance, strategic operating direction and oversight over all 2nd line risk management functions/leaders across the Bank, covering the key risk categories (i.e., Credit, Liquidity, Interest Rate, Price, Strategic, Compliance, Operational, Reputational risks).
- Assists the CRO in overseeing the Risk Division and its departments- Credit Risk Management, Enterprise Risk Management, Information Security, Enterprise Data Governance, Third-Party Risk Management, Appraisal, Internal Loan Review, Loan Workout, Mortgage Fraud Investigation Unit, Model Risk Management and Regulatory Affairs.
- Provides a sounding board and escalation point to the Risk Management Division leadership team in the development and implementation of strategies for effective risk management oversight, governance, and reporting.
- Engages with internal stakeholders to communicate risk exposure at an aggregated level or at a risk specific level, demonstrating a clear understanding of risk management and its impact on the commercial outcomes of the Bank.
- Proactively collaborates with internal and external auditors and regulatory agencies to ensure compliance and provide periodic updates on risk management activities, including the remediation and/or validation of regulatory or other issues.
- Provides risk support for major initiatives where appropriate, including M&A activities, related integrations, new product offerings, vendor management projects, and relevant system/process improvements. Support may include due diligence work, risk assessment of processes, and/or identification of key areas of concerns or exposures. Participates in strategic planning sessions and challenges the bank’s strategic goals, budget and capital plan and its alignment to risk management initiatives and risk appetite statements.
- Builds strong alliances across all lines of defense to positively influence the identification and resolution of significant risks and opportunities and ensures that Flagstar proactively identifies and reports risk exposures that subject the enterprise to unusual, unexpected and emerging risks across both Financial and Non-Financial Risks.
- Coordinates closely with the Enterprise Chief Compliance Officer on risk and compliance matters.
- Drives risk and compliance culture across all lines of defense to develop and implement risk management strategies to proactively identify, assess and mitigate potential risk exposures (financial and non-financial) and assist in the development of appropriate risk mitigation plans. The candidate will be responsible for implementing process to support the risk monitoring, aggregation and oversight as well as escalate enterprise wide risks, emerging risks, and any identified risks facing the Bank to the CRO and applicable Board and Management committees. All risks and exposures will need to be assessed against Risk Appetite statements as well as defined concentration risk limits
- Supports Independent Risk Management staff to provide guidance and training to teammates on risk management practices and procedures and ensure necessary education and training is outlined to develop and maintain the requisite domain expertise and other professional skills.
- Executes formal challenges across enterprise 1st Line of Defense activities (e.g., Budget, Strategic Plans, Capital Plans) and manages responses and closure.
- Defines and oversees risk management responsibilities, authority and accountability to appropriate personnel across 2nd line functions.
- Assists in the development of, and ensures compliance with, the Risk Management department’s annual budget and staffing assessment.
- On an as needed basis, provides additional oversight on personnel-related matters, including employment, establishing departmental goals, performance evaluations, disciplinary actions and training and development.
- Participates as needed in Board Risk Assessment Committee meetings and proactively engages with Board members on risk-related matters.
- 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.
- Actively participates in large bank industry risk networks and with peer risk leaders across other large banks to identify and share best practices to continuously improve the Bank’s risk practices.
- Monitors and analyzes market trends, economic factors and regulatory changes to ensure compliance.
- Bachelor’s degree in Business Administration, Accounting, Finance or related field or equivalent relevant experience in risk analysis
- Minimum of fifteen years of progressive professional experience in identifying, and assessing risk exposures in a large financial institution (
$100B in total assets).
- Master’s degree preferred.
- Extensive knowledge of FRB and OCC regulatory guidance, principles, practices and procedures for $100B+ large financial institutions
- Thorough knowledge of financial institution operations and control systems especially those related to financial risks (Market, Liquidity, Capital, Interest Rate) and associated regulatory, compliance, operational, and strategic risks.
- Comprehensive knowledge of industry, market, economic and regulatory developments impacting the Large Financial Institutions.
- Utilize excellent communication skills to influence and clearly communicate complex information, both written and verbally. This includes report presentations, group facilitation skills, ability to develop strong professional relationships, and networking both internally and externally.
- Conceptual thinking and analytical skills to analyze complex problems that include interrelationships and dependencies to identify common themes and solutions.
- Use interpersonal skills to partner effectively across all levels; including the Board of Directors and all levels of management throughout the organization in order to develop and foster positive and strong working relationships.
- Strong leadership skills and the ability to align resources throughout a large organization and effectively lead others in producing high quality results.
- Ability to create and deliver presentations to Senior Executive Management, Committees and the Board of Directors for risk reporting (including risk exposures and trends) and activities related to all risk management functions.
- Physical demands (ADA): No unusual physical exertion is involved.
NEW YORK COMMUNITY BANK, a Division of Flagstar Bank, N.A.
Based in Hicksville, NY, New York Community Bank, a Division of Flagstar Bank, N.A. (NYCB), services customers throughout Metro New York, New Jersey, Ohio, Arizona and Florida. NYCB serves customers through over 235 branches featuring a divisional structure: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona. With a longstanding reputation of strength, stability and service, NYCB is proud to be committed to the communities it serves.
To learn more about the NYCB visit us at www.MyNYCB.com .
Help recruit top talent for NYCB through the employee referral program. All NYCB employees are encouraged to submit referrals. Locate top talent right in the community where you live, work and play. Amazing individuals are all around! Be sure to let them know how they can become a part of the NYCB family.
NYCB is an equal opportunity employer that prohibits discrimination on the basis of race, color, age, sex, national origin, ethnicity, religion, marital status, disability, military status, veteran status, domestic violence victim status, gender identity or expression, sexual orientation, genetic information and any other classification protected by applicable federal, state, or local law or ordinance.
This policy against discrimination applies to all terms and conditions of employment including, but not limited to: recruitment and selection, and demotion, transfer, training and development, compensation, benefits, leaves of absence and termination. NYCB will consider reasonable accommodations for employees and applicants with disabilities, as well as accommodations that are necessary for an employee to practice their religious faith.
Location: Hicksville, NY
Job date: Sun, 19 Nov 2023 08:49:47 GMT
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