Primary Location:
Comerica Great Lakes Campus
Locations:
Farmington Hills, MI US
Additional Locations:
Comerica Great Lakes Campus; Auburn Hills Operations Center; 17 Cowboys Way; Comerica Bank Tower
Job Type:
Full-time
WorkBest Job Category:
Category C – Days in the office will either be designated days or will vary week to week from 2-5 days
Job Category:
Credit
Required Experience:
3-7 years
Overtime Status:
Exempt
Job ID:
246652
Business Risk and Control Officer – Business Unit Compliance Lead
- Provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks.
- Translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
- Review, validate, and test 1LOD activities to ensure adequate control design and effective control operation.
- Provide credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review.
- Drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
- Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
- Document, aggregate and report risk in accordance with the risk management lifecycle.
- Provides leadership and coaching to 1LOD to proactively identify and effectively manage risks.
- Translates and educates 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
- Drives two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
- Drives a strong enterprise risk culture by fostering rigor and discipline focused on risk and compliance awareness, ethical business practices, transparency, and escalation.
- Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of risk guidance.
- Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.
- Provides expertise on both the Line of Business (LOB) and the LOB specific rules, regulations, and compliance laws; reads, analyzes, and develops knowledge to determine requirements and mandates.
- Understands and translates how to apply the rules, regulations, and laws to assist the business to create proper controls.
- Manages implementation of new or revised regulatory requirements identified by Compliance (2LOD); answers questions, makes recommendations and addresses issues identified during the implementation phase.
- Assists Line of Business with gap analysis to compare the current state with the new required state.
- Provides oversight to detect, assess and respond to emerging risks.
- Performs analysis in managing risks in existing operations resulting from industry lawsuits, settlements, etc. associated with regulatory violations.
- Develops materials for corporate-wide committees, as needed.
- Acts as the primary Line of Business contact for compliance related exams, audits, and reviews.
- Participates as a subject matter expert for various risk assessments.
- May be involved in Compliance Management System (CMS) executable activities in the 1LOD.
- Demonstrated knowledge of banking industry products, services, and workflows.
- Strong familiarity with critical business processes and controls, as well as overall business needs and objectives, for the Line of Business.
- Strong track record of driving timely and effective issue resolution in a financial services context
- Deep expertise and ability to educate colleagues on risk management, controls, and compliance concepts, frameworks, and policies.
- Ability to establish authority, influence stakeholders, and productively debate issues (e.g., credible challenge) at all levels including without direct reporting responsibility.
- Ability to build strong relationships and engage constructively in a proactive and transparent approach with cross-functional stakeholders, to challenge status quo and drive buy-in to achieve common goals.
- Ability to clearly and effectively communicate, including ability to summarize and explain complex findings and issues to a wide range of audiences.
- Ability to apply sound judgment and appropriately escalate concerns and issues.
- Ability to demonstrate managerial courage and inspire colleagues across the organization to embrace change.
- Ability to gather, analyze and interpret large datasets from various sources.
- Strong analytical and critical thinking skills with high attention to detail and accuracy.
- Ability to manage multiple tasks and projects, prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
- Self-starter, able to work independently, flexible and can navigate a complex organization.
- Bachelor’s degree from an accredited university or a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry
- 6 years of experience in Risk Management, Compliance, Audit, or related field
- 3 years of experience working with the lines of business in interpreting and applying relevant rules, laws, and regulations to their business
- Experience in advising, providing subject matter expertise, and credibly challenging colleagues in a risk and control environment
- Strong understanding of various risk types/pillars, risk management, controls, and compliance concepts and frameworks
- Project support / project management skills – ability to provide direction, track progress and ensure alignment with program requirements
- Proficient in risk management software, MS Office Suite, and other related technology tools
- Strongly Preferred: 4 years of experience in Financial Services industry and/or knowledge of products, services and business processes of specific Line of Business being supported.
- Preferred: Certified Regulatory Compliance Manager (CRCM) certification or other applicable/relevant certification
Comerica Great Lakes Campus8:00am – 5:00pm Monday – Friday, this position includes both onsite and remote work.