Strategic Risk Manager
The Risk Manager position is responsible for 2nd line oversight and effective challenge of financial modeling, and quantitative and qualitative elements related to Comerica's Capital Planning and Long-term Strategic Planning processes. In addition, the position is responsible for 2nd line oversight and effective challenge of reputation risk management and driving interrelated assessment of issues resulting from other risk pillars. The position is responsible for acting as the 2nd line central point of contact for strategic risk management related events, overseeing and providing effective challenge of the reporting, assessment, escalation, and remediation of issues and events.
Position Responsibilities
- Lead the effective challenge of Comerica's Capital Planning process including but not limited to:
- PPNR modeled assumptions, outputs, and overlays,
- Credit modeling assumptions, outputs, and overlays,
- Capital actions,
- Stress testing economic scenarios,
- Idiosyncratic scenario modeling,
- Major assumption transparency, and
- Cash-flow forecasting assumptions (QRM).
- Provide guidance and challenge to enhance the process and create efficiencies.
- Maintain 2LOD challenge notes, recommendations, and oversight log.
- Oversee challenge escalation, resolution, issue management and governance in both policies and practice.
- Participate in all Capital Planning and STMCO meetings as 2LOD representation.
Annual Forecast and Long-term Strategic Plan Second Line Oversight and Challenge
- Monitor financial results to be consistent with the Long-term Strategic Plan and provided effective challenge when appropriate.
- Provide effective challenge of the Long-term Strategic Planning process with emphasis on business model, balance sheet assumptions, economic variables, and income and expense assumptions.
- Provide effective challenge of strategic assessments of acquisitions, major projects for investment, with an emphasis on modeled results, strategic, fit and adherence to strategic goals.
Reputation Risk Management Second Line Oversight and Challenge
- Lead the effective challenge and guidance for reputation risk management.
- Oversee challenge escalation, resolution, issue management and governance in both policies and practice.
- Participate in the Reputation Risk Management Committee meetings as 2LOD representation.
Special Projects
- Perform 2LOD challenge of Financial/Strategic assessment of investment projects.
- Perform ad hoc analysis, reports, research to enhance 2LOD effective challenge.
- Analyze and recommend initiatives to improve corporate performance and efficiency.
- Regularly monitor performance of the Bank forecast and provide analysis where appropriate to support effective challenge.
Position Qualifications
- Bachelor's degree from an accredited university in Finance, Business, or quantitative discipline
- Preferred: Masters degree in Finance, Business, Financial Engineering or related field
- 7 years Progressive experience in performing 2LOD challenge and/or execution of capital planning processes and strategic risk management and reputation risk management
Category C - Days in the office will either be designated days or will vary week to week from 2-5 days
8am - 5pm Monday - Friday
To Be Determined Based on Individual Experience
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
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 into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's 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.
