Client Due Diligence Lead

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Qualifications

Position Qualifications

• 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
• 6 years of experience in Risk Management, Compliance, Audit, or related field
• Experience in onboarding, client due diligence, transaction monitoring and/or risk related processes for Payment's customers
• Experience in advising, providing subject matter expertise, and credibly challenging colleagues in a risk and control environment
• Strong understanding of various risk types/pillars, risk management, controls, and compliance concepts and frameworks
• Project support / project management skills - ability to provide direction, track progress and ensure alignment with program requirements
• Proficient in risk management software, MS Office Suite, and other related technology tools.
• Strongly Preferred: 4 years of experience in Financial Services industry and/or knowledge of Business Line products, services, and business processes

Job Description

BRCO Client and Transaction Lead

The Business Risk and Control Officers (BRCOs) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecyle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1LOD) who:

• 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) Client and Transaction Lead for the Line of Business will be responsible for advising the business in the onboarding, client due diligence, transaction monitoring and risk related process for Payment's customers. The Lead will partner with business leaders and various 1LOD and 2LOD stakeholders to understand and drive the on-going success of the business's Due Diligence, Enhanced Due Diligence, and on-going Transaction Monitoring Program.

Position Responsibilities

• Advises the business in the onboarding, client due diligence, transaction monitoring and risk related process for Payment's customers.
• Partners with business leaders and various 1LOD and 2LOD stakeholders to understand and drive the on-going success of the business's Due Diligence, Enhanced Due Diligence, and on-going Transaction Monitoring Program.
• Advises and supports the Bank's Enhanced Due Diligence protocols for both new and existing customers, including co-managing programs and processes to support the examination of potential AML risk to the Bank.
• Provides risk intelligence to guide internal business partners and customers in the reliable and trusted growth of payments.
• Works with the business to identify, assess and monitor potential risks, as well as strengthen key controls, in the due diligence and onboarding of customers, including through the Know Your Customer (KYC) process and verification and the ongoing reduction of risk through transaction monitoring.
• Provides 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.

Business Partnership

• Provides leadership and coaching to 1LOD to proactively identify and effectively manage risks.
• Translates and educates 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
• Drives two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
• 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 risk guidance.
• Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.

A successful candidate will have the following knowledge and/or skills:

• 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.

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.