Business Unit Risk Analyst II

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Qualifications

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

Job Description

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.

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.