What are the responsibilities and job description for the Payments Risk and Compliance Specialist II position at Comerica Bank?
Compliance Specialist II, Assistant Vice President
The Compliance Specialist II is responsible for providing guidance and direction with respect to compliance with laws and regulations with direction and/or input from management. This includes ongoing guidance as well as assisting with the managing of implementation processes. This position will also assist in detecting, assessing, and responding to emerging risks.
Position Responsibilities:
- Perform compliance testing across multiple regulations within the Retail line of business; (i.e., RESPA, FLOOD, Truth in Lending, UDAAP, Truth in Saving, Electronic Fund Transfer, Funds Availability).
- Possess an in-depth knowledge of Retail Banking Regulations; (i.e., RESPA, FLOOD, Truth in Lending, UDAAP, Truth in Saving, Electronic Fund Transfer, Funds Availability.
- Independently manage assigned testing engagements which includes performing walkthroughs, creating test scripts, execution, issue vetting, drafting final reports, and reporting.
- Adhere to a defined testing schedule and provide periodic updates on progress.
- Perform issue validations to determine management' commitments and sustainability.
- Lead complex testing engagements and provide guidance to other team members supporting the engagement.
- Work independently and establish strong relationships with business partners, legal, compliance, and other key stakeholder.
Regulatory Compliance
- Interprets and makes recommendations of new or revised regulatory requirements in support of Compliance Management System (CMS) requirements.
- Develop a solid understanding of the new/revised regulation.
- Work collaboratively with the Line of Business and Compliance to understand current practices.
- Makes recommendations and collaborates to execute any required changes in support of CMS requirements.
Analytics
- Performs analysis in managing risks in existing operations resulting from industry lawsuits, settlements, etc. associated with regulatory violations.
- Work collaboratively with Retail lines of business to understand current practices.
- Collaborate with others for required changes to business activities.
Reporting/Project Management
- Participate meetings and addressing questions, regarding regulatory requirements in specific fact-based scenarios.
- Collaborate with the Line of Business and Compliance.
- Collaborate with Senior Compliance Manager on senior management compliance reporting.
Training
- Develop and review role-based training materials and training tools as needed.
- In partnership with the Line of Business and Compliance make recommendations and review of customer facing documents.
Position Qualifications:
- Bachelor's degree from an accredited university or 4 years of relevant work experience
- 7 years related experience in Compliance or Risk Management
- 2 years of Microsoft Office Products
8:00am - 5:00pm Monday - Friday
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.