Position Title

Director Interest Rate Risk Management

 

Location

Hicksville, NY 11801

 

Job Summary

The Director of Interest Rate Risk Management leads a team responsible for measuring, analyzing, explaining, managing, and reporting on the market interest rate risk (IRR) exposure of Flagstar's balance sheet and business model. This leader provides key insight to executive management regarding the sources of IRR and proposes strategies to mitigate and manage exposures consistent with the Bank's appetite for risk. The Director leads a team of analysts in maintaining a detailed income and valuation simulation model and ensures the accuracy, timeliness, and integrity of data inputs, assumptions, and model results. The Director leads the development and continuous improvement of modeling methodologies for the quantification of Flagstar’s interest rate risk for all components of the balance sheet and business model. This leader draws on a deep interest rate risk and fixed income modeling background to guide customer behavior studies and the analysis of large data sets.

$195,131.78 -$268,306.19 -$341,480.61

 

Job Responsibilities:

JOB RESPONSIBILITIES

Oversee timely and accurate production of interest rate risk metrics including the sensitivity of earnings and the economic value of equity to changes in market interest rates.

Evaluate the accuracy of model output, analyze results, and develop informative, accurate, and insightful reporting for various management committees and the Board of Directors.

Generate forward-looking and expected future interest rate risk exposure conditioned upon internal balance sheet forecasts.

Design and execute large customer behavior data studies to inform model development.

Develop and refine model assumptions, including prepayment models for loans and balance migration and repricing models for deposits.

Ensure compliance with model validation and risk control frameworks, including model back testing, sensitivity analysis, and documentation.

Propose potential modeling approaches and enhancements, and adjustments to balance sheet segmentation to improve model performance.

Collaborate with teams within and outside Treasury such as Financial Planning & Analysis, Liquidity, Credit, the various Lines of Business, Risk, Audit, Model Risk Management, and External Reporting.

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)  in Finance, Economics, Statistics, or a related field

Minimum experience required: 12+ Years financial experience, including 8+ years’ experience in quantitative risk modeling and measurement.

4+ years of experience in interest rate risk modeling at a midsize or larger banking institution.

Demonstrated proficiency in data management and analysis and familiarity with programming and statistical packages used for data analysis, modeling, and reporting such as SQL, R, and Python.

Preferred Qualifications:

Education level preferred: Master's Degree (or Postgraduate equivalent) in Finance, Economics, Statistics, or a related field.

2+ years of experience in interest rate risk modeling within a large banking institution, managing complex balance sheets and risk profiles.

Familiarity with the QRM software package.

Job Competencies:

Demonstrated ability to lead and influence change, develop innovative solutions, build effective partnerships, and manage cross-functional projects across an enterprise. 

Strong analytical and communication skills, capable of simplifying and clearly explaining complex modeling concepts and risk analysis to senior management, regulators, and non-technical stakeholders.

Comfort in a fast-paced, complex environment; solves problems collaboratively through open and constructive discussion. 

Detail oriented, responsive, and proactive. Fosters clarity, transparency, consistency, and widespread understanding across the business. 

An energetic, efficient, and resourceful team player. Takes ownership of work product and delivers within tight deadlines. 

Ability to build trusted relationships with Executive Management members and the extended business and functional leaders across the company. 

Up to 10% travel  

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

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank