Job Information
Flagstar Bank, N.A. Sr. Compliance Advisor in Westerville, Ohio
Position Title Sr. Compliance Advisor Location Work From Home United States Job Summary Regulatory Compliance is responsible for developing and maintaining a Compliance Management Program (CMP) 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 will work independently with business unit (BU) risk partners to support the CMP. The Senior Compliance Advisor is expected to be able to independently prioritize, achieve work deliverables, and provide periodic updates to applicable Compliance leaders on matters requiring escalation and assistance and to collaborate, advise, and coordinate their activities. Maintain an advanced and comprehensive knowledge of assigned BU processes and the consumer protection laws and regulations that pertain to them and have advanced independent judgment skills required to deliver advisory support of technical compliance rules and business operations while serving as a subject matter expert to the assigned BU's on consumer protection matters. They also advise and assist the BU in developing and implementing risk-based controls to ensure 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. Pay Range: $71,600.00 - $87,947.00 - $132,600.00 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 assigned risk statements and Compliance policies
Maintain close contact with assigned BUs to keep apprised of objectives, strategy, new initiatives, emerging issues/risks (e.g. Mortgage Servicing Rights Transfers, Loss mitigation, ARM's, HELOC, etc.)
Stay abreast of BU processes and applicable consumer compliance laws and regulations
Provide advice, counsel and recommendations using independent and sound judgment to BUs on consumer compliance questions/issues
Complete special projects as necessary
Provide periodic updates for CMP reporting
Periodically review business unit 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 for assigned BU
Work with Compliance Assurance Manager to develop BU annual testing plan for assigned BU
Work with Compliance Assurance to develop Key Risk Indicators (KRIs) for early warning signs of compliance concerns for assigned BU
Review applicable 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
Assess new products/services for potential compliance concerns; prepare risk assessments
Assess new and existing vendors and debt buyers for potential compliance concerns; prepare risk assessments
Review marketing materials and other external-facing communications for p