Business Unit Risk Analyst II
- Plays a critical role in the Risk Management Lifecycle as the First Line of Defense. Is the owner of risk, the originator and is ultimately accountable for risks in the line of business.
- Performs a function in each of the 6 Risk Management Lifecycle steps: Planning, Identifying, Assessing, Mitigating, Monitoring and Reporting.
- Identifies, understands, and articulates the risk, turning to the Business Control Officers for guidance and expertise.
- Develops and maintains procedures that align with frameworks and policies.
- Adheres to enterprise-wide standards, tools, and process established and maintained by Second Line of Defense (2LOD).
- Aligns activities and business objectives with Comerica's established risk appetite.
- Adheres to enterprise-wide taxonomies and inventories.
Position Responsibilities:
Risk Identification, Change Management and Risk Assessments
- Identifies risks in formal process (RCSA) and on an ongoing basis in the normal course of business.
- Monitors the internal and external environment to identify changes in existing risks or new/emerging risks.
- Understands how to identify a material change and initiates the change mgt process.
- Executes risk assessment processes; partners with Business Control Officer (BCO) for guidance, expertise and through partnership in aligned with standards tools and methodologies established by 2LOD.
- Sources and performs key analysis to support objective inherent risk ratings.
- Updates and refines outputs based on feedback.
Mitigation, Controls, and Issue Management
- Collaborates with BCO and 2LOD to identify and execute the appropriate risk management and remediation strategy.
- Mitigates risk by designing and implementing a suite of controls within business processes.
- Explains and documents critical business processes.
- Develops procedures to document/systematize controls.
- Monitors performance of controls and addresses deficiencies.
- Develops, implements, and reports on action plans for identified issues; leverages results from monitoring processes to self-identify issues and initiate remediation.
Monitoring, Quality Assurance, Testing and Metrics
- Collaborates with BCO and 2LOD to institute monitoring and develops procedures on response to monitoring results.
- Develops and implements quality assurance procedures, determining appropriate quality targets to drive business objectives while mitigating risk; builds into key business processes.
- Provides information and data to BCO and 2LOD to facilitate testing and validation activities; remediates control deficiencies/failures identified in testing.
- Identifies data sources to operationalize proposed KRIs.
Reporting
- Collaborates with BCO and 2LOD to determine the appropriate frequency and granularity of risk reporting.
- Develops and implements reporting procedures, produces, and distributes risk reports and prepares custom reporting as needed.
Additional Risk Activities
- Areas can include support of exam related activities, compliance, supplier management and third-party risk, model risk management, complaints management, and or business continuity.
Qualifications:
- Bachelor's degree from an accredited university or High School Diploma or GED and 6 years of Risk Management or other related experience within the Financial Services industry
- 4 years of experience in Risk Management, Compliance, Audit, or related field
- Strong subject matter expertise in their line of business
- Familiarity with concepts, frameworks and policies in risk management, controls, and compliance
- Demonstrated ability to align business activities and decisions with enterprise risk frameworks and policies
- Preferred: Ability to perform risk identification and assessments using enterprise frameworks/policies
- Preferred: Ability to design, implement and monitor an effective control environment
- Preferred: Ability to conduct root cause analysis and drive timeline and effective resolution of self, 2LOD, audit, and regulator-identified issues
Category C - Days in the office will either be designated days or will vary week to week from 2-5 days
8:00am - 5:00pm Monday - Friday
To Be Determined Based on Individual Experience
