Compliance Testing Specialist I
The Compliance Testing Specialist I within the Second Line of Defense (2LOD) plays an important role in assisting the team with providing oversight and guidance to the business on compliance testing strategies and methodologies. The Compliance Testing Specialist I is responsible for coordinating and executing on the Compliance Testing program for Comerica, relying upon a working knowledge of applicable banking laws and regulations. They are critical to the success of the Risk Management program as they are responsible for coordinating the lifecycle of compliance testing, from planning and fieldwork to final reporting and issue validation. This position will develop and create low to moderately complex test scripts, execute against associated test plans, prepare management reporting, and ensure adequate resolution of risks and/or identified issues.
Position Responsibilities:
Compliance Testing and Business Partnership
- Assist team in managing the end-to-end testing lifecycle including planning, fieldwork, final reporting, and resolution of testing plans for less to moderately complex tests.
- Partner with Compliance Advisory Specialists to define scope, framework, objective, and depth of testing by reviewing the risks and any subsequent controls identified in the Compliance Risk Assessment (CCRA), Risk Assessment (RCSA) or by other means.
- Partner with Compliance Advisory Specialists to review draft issues and final draft report to gain feedback and guidance.
- Develop and document test scripts, including supporting documentation, to ensure testing is appropriate and covers the applicable regulatory scope for Comerica.
- Execute on low to moderately complex testing plans to assess the control environment, including producing accurate and timely workpapers that adequately support testing results and conclusions.
- Document findings and remediation plans in accordance with Comerica's Issue Management process.
- Provide recommendations to the business for resolving deficiencies and exercise judgment while developing expertise in compliance and the risk management framework.
Regulatory Compliance and Risk Awareness
- Provide advice, guidance, and oversight for assigned area of testing by possessing working knowledge of the applicable rules and regulations.
- Identify, measure, and escalate compliance risk issues to more senior compliance testing team members and management as necessary.
- In partnership with Compliance Advisory Specialists, provide compliance risk knowledge to the lines of business on developing issue remediation plans and effectively managing regulatory change and risk.
- Maintain up to date knowledge of changing regulatory requirements and Comerica's business model to identify changes that have potential to impact Comerica's compliance framework and the Compliance Testing plan.
Monitoring, Audits and Exams
- Assist in preparing and coordinating deliverables accurately and timely (i.e., responses, artifacts).
- Other duties assigned
Position Qualifications:
- Bachelor's Degree from an accredited university in Business, Finance, or related field
OR, in lieu of a bachelor's degree, a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry
- 2 years of Experience working with Compliance testing or a similar area (i.e., Risk Management, Audit, or a related area)
- 2 years of Experience in banking regulatory compliance, legal, or financial services consulting
- 2 years of Experience working with lines of business in interpreting and applying relevant rules, laws, and regulations to the business
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
