Primary Location:
Comerica Bank Tower
Locations:
Dallas, TX US
Additional Locations:
Comerica Bank Tower; Comerica Great Lakes Campus; Auburn Hills Operations Center; Comerica Bank Center (CBC); 17 Cowboys Way; 2 Riverway; Campau Square
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:
Human Resources
Required Experience:
3-7 years
Overtime Status:
Exempt
Job ID:
246804
Business Risk and Control Officer – Control Testing 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.
- The Business Risk and Control Office (BRCO) Control Testing Lead is responsible for the structured review to validate that processes and controls function as intended to mitigate risk, including SOX controls. The BRCO Control Testing Lead does not own the design nor execution of controls.
- Adheres to a defined testing schedule and provides periodic updates on progress.
- Provides guidance to other team members supporting the engagement.
- Establishes strong relationships with business partners and other key stakeholders (i.e. SOX Office).
- Understands LOB end to end business processes, products, services, financial statement risks, controls, and risk profile.
- Adheres to testing procedures, standards, and methodologies established by 2LOD. Tests are performed periodically based on inherent risk level and frequency of controls operation; scope and sample size vary based on the type of test, inherent risk level, and dataset population size.
- Addresses any review and challenge comments as received to ensure alignment with 2LOD testing requirements. Designs and executes testing plans and scripts to evaluate the effectiveness of the overall control environment, including for SOX compliance.
- Performs walkthrough prep and walkthrough execution.
- Assesses both Design (is the control is designed to accomplish the goal or detect/prevent a misstatement – test sample of 1) and Effectiveness (was the control executed correctly).
- Performs the role of Tester/Preparer (does the testing, picks the samples, executes testing based on test plan, documents, manages follow-up, reviews comments) or Reviewer (reviews the testing, documents issues).
- Ensures 1LOD quality assurance procedures are aligned with frameworks and policies.
- Documents narratives, flowcharts, and controls.
- Identifies and escalates issues for remediation. Advises on how to remediate any control deficiencies/failures, proposing solutions to root causes of identified conditions.
- Validates remediation of control deficiencies and issues, including sustainability.
Supports audits, exams and assessments conducted internally and externally.
- Identifies and assesses the impact of the changing regulatory environment on business objectives, risk appetite and testing methodology.
- Partners and engages with relevant business partners at varying levels in the organization to develop and maintain a strong control environment through effective testing and related activities that lead to early identification and sustainable mitigation of risks.
- 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 control testing.
- 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
- 5 years of experience in Risk Management, Compliance, Audit, or related field
- Experience in planning, executing and reporting on testing reviews and/or regulatory issue validation activities
- Knowledge and extensive experience with testing/auditing principles, particularly in the understanding of risk and controls, development and execution of testing strategy and approach, perform controls design and effectiveness testing and undertaking data testing
- Understanding of rules, laws, regulatory requirements and ability to develop/execute tests to assess for compliance with requirements
- Proficient in risk management software, MS Office Suite, and other related technology tools.
- Strongly Preferred: 3+ years of experience in Financial Services industry and/or knowledge of Line of Business products, services, and business processes
Comerica Bank Tower8:00am – 5:00pm Monday – Friday. This position includes onsite and remote work days.