What are the responsibilities and job description for the Credit Products - Quality Assurance Manager position at Flagstar Bank?

The Credit Products-Quality Assurance Manager leads a team of 1st line of defense risk management, quality assurance experts that ensure adherence to risk appetite statements and the accuracy of information feeding the Bank’s financial statements. Responsible for ensuring that business activities follow the necessary credit loan policies, procedures, processes and rules and regulations to support the Credit Products underwriting process. Pay Range : $140,622 - $186,324 - $232,026

JOB RESPONSIBILITIES

Oversee a team of professional level staff.
Manage a monitoring and testing program to ensure effective adherence with applicable laws, regulations, loan policies and procedures.
Effectively manage and communicate to stakeholders the components of the Quality Assurance Program.
Lead discussions with business partners, communicating all parts of the review process including review development, questionnaire, testing plans, scheduling, sampling and issues identified during the review / testing process.
Support business by collaboratively facilitating the development of process and procedures to ensure adherence to regulations, policies and procedures, including business team meetings, and continuous improvement initiatives.
Work collaboratively with 2nd line of defense and other enterprise risk support units as needed to ensure credit, operational and compliance excellence.
Maintain deep knowledge of loan policies and basic understanding of regulations to ensure adherence.
Develop and perform staff training as necessary.
Pursue the automation of new and existing Quality Assurance tests when possible.
Identify and report on any discrepancies or issues in loan documentation.
Assist staff and business partner with root cause analysis on thematic issues identified.
May perform test of controls as part of controls as part of continuous monitoring to provide an evaluation of data quality and operational effectiveness.
Identify gaps in current process and procedures, then collaborate with management and stakeholders to recommend solutions to eliminate those gaps.
Lead ongoing reviews and target reviews. Leading reviews include :

Designs review scope

Identifies population and sample set

Ensures review team members has appropriate tools and knowledge in advance of review commencement

Assigns review responsibilities

Oversees the execution of review, reviews team workpapers, performs analysis of results

Writes and Issues final review report

Conducts final review results with management of area reviewed

Participates in remediation activities as needed

Uses knowledge and expertise to guide and develop team members with less experience

Responsible for following established guidelines and identifying and resolving complex problems.

May own regular reporting or process administration.

May assist with internal audit, external audit exams.

Uses independent judgement and discretion to make decisions on behalf of the department.

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.

JOB REQUIREMENTS

Required Qualifications :

Education level required : Undergraduate Degree (4 years or equivalent).

Minimum experience required : 8 Years of credit related experience in the Financial Services Industry.

Preferred Qualifications :

Quality Assurance (QA), Audit, or Risk Management experience in the Financial Service Industry is preferred.

CPA, CRCM or other applicable certification is preferred.

Minimum 5 years of management experience.

Job Competencies :

Deep understanding of Credit Underwriting and Credit Loan Policies.

Knowledge of Credit, Operational and Compliance risk environment as it relates to the Underwriting process.

Experience in writing risk management review reports.

Excellent time management while meeting deadlines and communicating status updates with management or team lead.

Display a high degree of motivation, initiative, collaboration and actively interact and be an engaged team member.

Produce results in a timely manner with minimum oversight.

Risk and control mindset is essential.

Occasional travel to hub markets may be required.

Physical demands (ADA) : No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identify, or national origin.

Salary : $140,622 - $186,324

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Credit Products - Quality Assurance Manager

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