Credit Risk Specialist

Credit Risk Specialist

Job Summary:

The Credit Risk Specialist aids in the quarterly calculation of the organization's provision for doubtful debts for the loan and lease portfolio. They work together with different parties and conduct assessments to back the formulation of projected credit losses, adhering to the approved approach and keeping records that validate their assessments.

Job Responsibilities:

• Administer the quarterly estimation of the provision for credit losses, overseeing the designated tasks autonomously, following the prescribed approach and SOX compliance guidelines.
• Examine significant factors influencing alterations in the ACL, such as fluctuations in rates and volumes, economic predictions, and the composition of credit, while also proposing unexpected elements which contribute to these changes.
• Work together with the Credit team and other important stakeholders to suggest, create, and record qualitative modifications.
• Create and update supplementary ACL documentation, such as resources for working groups, materials for governance meetings, additional documentation for specific analyses, and financial disclosures as well as reports for regulatory purposes.
• Facilitate the dissemination of findings and other pertinent information regarding ACL matters to both internal and external parties.
• Assist in driving the implementation of internal strategic initiatives to enhance the ACL Program's effectiveness.
• Stays informed about applicable accounting regulations and standards concerning Current Expected Credit Losses, alongside understanding the credit risk elements that affect the loan and lease portfolio.

Additional Accountabilities:

• Completes specific assignments and extra tasks as needed.
• Consistently follows the regulatory and compliance guidelines associated with the job description and ensures the completion of mandatory compliance training. Responsible for upholding compliance with relevant federal, state, and local legislation and regulations.

Job Requirements:

• A Bachelor's degree or its equivalent is necessary to meet the educational qualifications.
• At least 2 years of experience in credit risk management, accounting, or a related field is necessary.
• Proficient in Python.

Preferred Qualifications:

• Understanding CECL (Current Expected Credit Loss) is essential.
• Background in financial institutions of moderate and substantial sizes.
• Familiarity with the Alteryx platform.

Job Competencies:

• Fundamental understanding of analyzing finances and predicting financial outcomes.
• Proficiency in data querying languages and tools is essential.
• Remarkable ability in analyzing and working with numerical data.
• Professional writing skills.
• Remarkable abilities in conveying messages effectively and delivering information persuasively.
• Demonstrated capability in handling designated tasks autonomously, working with diverse team members, and fulfilling obligations effectively.
• Travel < 15%.
• Physical requirements (ADA): There are no extraordinary physical efforts needed.

Flagstar upholds a policy of offering equal job opportunities to all candidates:

Flagstar offers employees a range of benefits such as medical, dental, and vision insurance, along with life and disability coverage, in addition to an extensive leave package.

Individuals with prior arrests or convictions will be evaluated for job opportunities following the guidelines set forth in various local and state fair chance laws in California.

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