Credit Risk Associate

Credit Risk Associate

Job Summary:

Collaborating with various teams, the Credit Risk Associate plays a key role in determining the company's quarterly allowance for credit losses in the loan and leasing domain. By engaging in thorough analysis and working closely with stakeholders, they ensure the development of accurate expected credit loss figures, adhering to established methodologies and documenting the basis for their determinations.

Job Responsibilities:

• Manage the quarterly development of the provision for credit loss reserves, overseeing the assigned tasks independently, following the established methodology and SOX control standards.
• Investigate major influencers of adjustments in the ACL, including changes in rates and quantities, economic forecasts, and the combination of credit categories, while presenting solutions for obscure factors that drive these transformations.
• Collaborate with the Credit function and other essential stakeholders to put forward, craft, and document qualitative adaptations.
• Produce and manage ACL supporting documentation, which involves maintaining resources for working groups, quarterly governance materials, ad-hoc analyses and documentation, and financial disclosures and regulatory reports.
• Assist in conveying outcomes and addressing ACL-related concerns to individuals and groups both within and outside the company.
• Aid in the implementation of internal strategic initiatives to optimize their impact on the overall effectiveness of the ACL Program.
• Remains knowledgeable about the appropriate accounting standards and regulatory advice regarding Current Expected Credit Losses, including understanding the credit risk factors that impact the loan and lease portfolio.

Additional Accountabilities:

• Executes distinctive projects and additional obligations when called for.
• Maintains a consistent adherence to regulatory and compliance policies connected to the job duties and fulfills mandatory compliance training requirements. Takes responsibility for staying compliant with the relevant federal, state, and local laws and regulations.

Job Requirements:

• A four-year undergraduate degree or comparable certification is mandatory for this position.
• 2+ years of experience in credit risk management, accounting, or related fields is required.
• Proficient in Python.

Preferred Qualifications:

• Knowledge about CECL (Current Expected Credit Loss) is crucial.
• Experience gained in the operations of mid-sized and significant financial organizations.
• Hands-on experience with the Alteryx platform.

Job Competencies:

• Foundational understanding of examining financial data and anticipating future financial scenarios.
• Familiarity with data query languages and programs.
• Exemplary skills in interpreting and manipulating data effectively.
• Professional writing skills.
• Exceptional talents in expressing ideas clearly and demonstrating content compellingly.
• Confirmed aptitude for autonomously organizing and executing assigned workflows, cooperating with different parties, and honoring promises made.
• Travel < 15%.
• No special physical exertion requirements (ADA).

Flagstar maintains a commitment to providing an equal platform for all job seekers:

Inclusive in its benefits package, Flagstar grants team members access to medical, dental, vision, life, and disability insurance options, accompanied by a comprehensive leave program.

Job seekers with a history of arrests or convictions will be given fair consideration, aligning with the regulations outlined in the mentioned fair chance laws and ordinances in various California jurisdictions.

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