Flagstar Bank, N.A.
Fair Banking File Review Manager
Flagstar Bank, N.A., Hicksville, New York, us, 11815
Position TitleFair Banking File Review ManagerLocationNYCB Plaza -102 (Hicksville, NY)Job SummaryThe Fair Banking File Review Manager has responsibilities primarily with respect to the Equal Credit Reporting Act (ECOA) and Fair Housing Act (FHA), and secondarily to the Home Mortgage Disclosure Act (HMDA), Dodd Frank Act (DFA) Section 1071 (1071), and Community Reinvestment Act (CRA). This role is responsible for delivering timely on manual file review projects and identifying weaknesses for remediation.Pay Range: $117, 184.74 - $155, 269.79 - $193, 354.83Pay Range: Local Minimum Wage - $0.00 - $0.00Job Responsibilities:
Responsible for managing team of file reviewers and completing projects (including comparative matched sets) to identify potential differential treatment thereby ensuring the Bank remains compliant with applicable fair lending laws, rules, regulations, guidance, and best practices . Reviews will cross mortgage, consumer, and small business lending lines of business.Conduct testing of loan decisions and data to ensure accuracy, quantify and assess potential risks, weaknesses, and gaps for remediation, and compliance with fair lending regulations; Prepare reports of results and conclusions for inclusion in risk assessments and senior management review. Effectively communicate the results, conclusions, and recommendations of compliance reviews, monitoring and testing to senior and business line management.Monitor regulatory and industry updates, best practices and emerging risks to improve and/or develop appropriate monitoring, controls, and risk management activities in response to regulatory change related to comparative file testing and process validation. Update procedures for acquisition, monitoring, testing, and reporting of process and staff compliance with internal standards and regulatory requirements for Fair Banking.Review and respond to Fair Banking complaints according to SLAs. Add information to support trending and understanding of root cause of high volume themes.Build cross-functional relationships throughout the organization and collaborate across many lines of business and bank divisions, as well as Technology, Legal, Risk, Internal Audit and Compliance Risk partners to manage, escalate and remediate compliance risk . Collect information and participate in internal audits and regulatory exams. Prepare reports and communications for the Fair Banking Program.D evelop written procedures and ongoing training materials related to file review of transactions (underwriting, pricing, servicing, ...), enabling self-testing of compliance with regulations.Lead, direct and support a high performing team; oversee professional development of staff to support departmental succession planningEvolve and leverage technical tools to increase efficiency of program while increasing frequency and coverage of monitoring and testing.
Uses independent judgement and discretion to make decisions regarding materiality of data issues and extent of root causes. Escalate compliance risks and issues, and collaborate with compliance, risk, legal and line of business partners to implement appropriate and effective action plans to remediate identified risksAnalyzes patterns and identifies problems increasing Fair Banking risk. Identifies and implements process efficiencies in reviewing transactional data.Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.
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.
Required Qualifications:
Education level required: Undergraduate Degree (4 years or equivalent)8 Years of experience in consumer regulatory compliance, preferably in HMDA, CRA or Fair Lending, or Internal Audit.6 years of experience in ECOA, FHA, HMDA, CRA, and state fair lending laws.4 years of managerial experience in a financial institution setting or regulatory agency.Extensive training in mortgage lending rules and regulations.Experience in data management and data integrity reviews
Preferred Qualifications:
Certified Regulatory Compliance Manager (CRCM)Data management and fair lending programs (e.g., RATA Comply software), etc.
Job Competencies:
Knowledge of consumer protection laws and regulations impacting financial institutionsSubject matter expertise in federal and state laws, regulations, rules, and guidance related to CRA, HMDA, Regulation B, data collection.Working knowledge of bank products, services and business operations for retail, consumer, business, and commercial lines of business.Excellent oral and written communication skillsProven ability to partner effectively across all levels of the organization and develop positive working relationships.Able to manage and execute multiple complex projects within required timelinesDemonstrated conceptual thinking and analytical skillsAbility to work independently in a continuously changing environmentInquisitive nature, resourceful, and ability to seek out information and develop sound conclusions and strategiesUnderstands data management and data integrity0-5% TravelPhysical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
Minimum Salary: 0.00 Maximum Salary: 0.00 Salary Unit: Yearly
Responsible for managing team of file reviewers and completing projects (including comparative matched sets) to identify potential differential treatment thereby ensuring the Bank remains compliant with applicable fair lending laws, rules, regulations, guidance, and best practices . Reviews will cross mortgage, consumer, and small business lending lines of business.Conduct testing of loan decisions and data to ensure accuracy, quantify and assess potential risks, weaknesses, and gaps for remediation, and compliance with fair lending regulations; Prepare reports of results and conclusions for inclusion in risk assessments and senior management review. Effectively communicate the results, conclusions, and recommendations of compliance reviews, monitoring and testing to senior and business line management.Monitor regulatory and industry updates, best practices and emerging risks to improve and/or develop appropriate monitoring, controls, and risk management activities in response to regulatory change related to comparative file testing and process validation. Update procedures for acquisition, monitoring, testing, and reporting of process and staff compliance with internal standards and regulatory requirements for Fair Banking.Review and respond to Fair Banking complaints according to SLAs. Add information to support trending and understanding of root cause of high volume themes.Build cross-functional relationships throughout the organization and collaborate across many lines of business and bank divisions, as well as Technology, Legal, Risk, Internal Audit and Compliance Risk partners to manage, escalate and remediate compliance risk . Collect information and participate in internal audits and regulatory exams. Prepare reports and communications for the Fair Banking Program.D evelop written procedures and ongoing training materials related to file review of transactions (underwriting, pricing, servicing, ...), enabling self-testing of compliance with regulations.Lead, direct and support a high performing team; oversee professional development of staff to support departmental succession planningEvolve and leverage technical tools to increase efficiency of program while increasing frequency and coverage of monitoring and testing.
Uses independent judgement and discretion to make decisions regarding materiality of data issues and extent of root causes. Escalate compliance risks and issues, and collaborate with compliance, risk, legal and line of business partners to implement appropriate and effective action plans to remediate identified risksAnalyzes patterns and identifies problems increasing Fair Banking risk. Identifies and implements process efficiencies in reviewing transactional data.Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.
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.
Required Qualifications:
Education level required: Undergraduate Degree (4 years or equivalent)8 Years of experience in consumer regulatory compliance, preferably in HMDA, CRA or Fair Lending, or Internal Audit.6 years of experience in ECOA, FHA, HMDA, CRA, and state fair lending laws.4 years of managerial experience in a financial institution setting or regulatory agency.Extensive training in mortgage lending rules and regulations.Experience in data management and data integrity reviews
Preferred Qualifications:
Certified Regulatory Compliance Manager (CRCM)Data management and fair lending programs (e.g., RATA Comply software), etc.
Job Competencies:
Knowledge of consumer protection laws and regulations impacting financial institutionsSubject matter expertise in federal and state laws, regulations, rules, and guidance related to CRA, HMDA, Regulation B, data collection.Working knowledge of bank products, services and business operations for retail, consumer, business, and commercial lines of business.Excellent oral and written communication skillsProven ability to partner effectively across all levels of the organization and develop positive working relationships.Able to manage and execute multiple complex projects within required timelinesDemonstrated conceptual thinking and analytical skillsAbility to work independently in a continuously changing environmentInquisitive nature, resourceful, and ability to seek out information and develop sound conclusions and strategiesUnderstands data management and data integrity0-5% TravelPhysical demands (ADA): The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.
Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity
Minimum Salary: 0.00 Maximum Salary: 0.00 Salary Unit: Yearly