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Compliance Specialist Issue Management

Company: Comerica
Location: Auburn Hills
Posted on: May 27, 2023

Job Description:


We invite you to explore the award-winning culture, people, rewards and opportunities that make Comerica Bank so special. Make your next career choice a confident one.


Position Qualifications

  • Bachelor's degree from an accredited university or 4 years of relevant work experience
  • 8 years related industry, Compliance or Risk Management experience
  • Certified Regulatory Compliance Manager (CRCM) certification, Certified Trust and Fiduciary Advisor (CTFA), or other applicable/relevant certification preferred but not required

    Job Description

    Compliance Specialist, Vice President
    This position is responsible for providing guidance and direction and making recommendations primarily to the Wealth Management Fiduciary business line with respect to compliance with laws and regulations in addition to supporting the Corporate Compliance Monitoring Program. This includes ongoing guidance as well as leading and managing major implementation processes, beginning with reading, interpreting, and developing an understanding of the regulation and ending with a successful implementation across all impacted business units. This also includes assisting business units with their ability to detect, assess, and respond to emerging risks.

    Position Responsibilities:

    Regulatory Compliance

    • Provide advice, guidance and oversight of Comerica Trust's Fiduciary businesses and related account activities by possessing strong working knowledge of the applicable rules and regulations such as 12 CFR 9, ERISA and related rules and guidance (e.g., OCC Comptroller handbooks; OCC bulletins; Department of Labor guidance; etc.).
    • Read and analyze regulations to determine requirements/mandates and impact on Comerica.
    • Lead and manage implementation of new or revised regulatory requirements in support of the Compliance Management System requirements.
    • Partner with Line of Business, Compliance and third parties to ensure all processes and procedures are in compliance with applicable policies and regulations.
    • Act as the primary contact to the business unit compliance liaisons, including actively participating in their business unit meetings and providing support and guidance on compliance on compliance and regulatory matters.
    • Provide oversight and monitoring of risk-based compliance programs.
    • Identify, measure, and escalate compliance risk issues to the Compliance Sr. Manager and/or the Lines of Business as necessary.
    • Provide compliance risk expertise to the business on developing corrective action plans and effectively managing regulatory change.
    • Partner with the Line of Business and Compliance on key projects related to compliance and regulatory matters.
    • Advise business lines on special training needs and assist in the creation and revision of training and training tools. Review and, in some instances, lead the drafting of advertisements and "customer facing" documents to ensure compliance with applicable regulations.

      Issue Management

      • Provide independent review and challenge of Issue Root Cause Analysis, Division Impact Analysis, Issue Priority Ratings, Management Responses and Remediation Plans developed for all Regulatory, Internal Audit, SLOD, and Self-Identified Issues.
      • Act as the central point of contact for Corporate Compliance Issue Management.
      • Develop, implement, and maintain processes and procedures to log applicable Corporate Compliance-related issues into the Issue Management Technology Platform timely and in accordance with the Enterprise Issue Management Policy.
      • Monitor and maintain Issue Management reporting, escalation, and timely remediation of issues, deficiencies, or regulatory matters regarding compliance risk management.

        About Comerica

        We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.

        Upon offer, Comerica conducts a comprehensive background and fingerprint check.

        NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.

        Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.

        Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.

Keywords: Comerica, Detroit , Compliance Specialist Issue Management, Executive , Auburn Hills, Michigan

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