Risk Management Specialist

2 days ago

Frisco, United States Comerica Full time
Job Title: Business Risk and Control Office (BRCO) Control Testing Lead

Comerica is seeking a highly skilled Business Risk and Control Office (BRCO) Control Testing Lead to join our team. As a key member of our Risk Management team, you will be responsible for ensuring the effectiveness of our internal controls and compliance with regulatory requirements.

Key Responsibilities:
  • Translate and interpret corporate testing policies and participate in the implementation of overall independent testing program for the Line of Business (LOB).
  • Adhere to a defined testing schedule and provide periodic updates on progress.
  • Provide guidance to other team members supporting the engagement.
  • Establish strong relationships with business partners and other key stakeholders (i.e. SOX Office).
  • Develop testing processes and procedures in alignment with enterprise risk frameworks and policies and conducts baseline review activities.
  • Understand LOB end to end business processes, products, services, financial statement risks, controls, and risk profile.
  • Adhere to testing procedures, standards, and methodologies established by 2LOD. Tests are performed periodically based on inherent risk level and frequency of controls operation; scope and sample size vary based on the type of test, inherent risk level, and dataset population size.
  • Addresses any review and challenge comments as received to ensure alignment with 2LOD testing requirements.
  • Designs and executes testing plans and scripts to evaluate the effectiveness of the overall control environment, including for SOX compliance.
  • Performs walkthrough prep and walkthrough execution.
  • Conducts testing of control design and operating effectiveness; including issue control testing/validation for more complex issues.
  • Assesses both Design (is the control is designed to accomplish the goal or detect/prevent a misstatement - test sample of 1) and Effectiveness (was the control executed correctly).
  • Performs the role of Tester/Preparer (does the testing, picks the samples, executes testing based on test plan, documents, manages follow-up, reviews comments) or Reviewer (reviews the testing, documents issues).
  • Ensures 1LOD quality assurance procedures are aligned with frameworks and policies.
  • Documents and provides evidence for testing results.
  • Documents narratives, flowcharts, and controls.
  • Reports on control testing results and key themes to management reflecting trends, emerging risks, strengths, and weaknesses.
  • Identifies and escalates issues for remediation. Advises on how to remediate any control deficiencies/failures, proposing solutions to root causes of identified conditions.
  • Validates remediation of control deficiencies and issues, including sustainability.
  • Supports audits, exams and assessments conducted internally and externally.
  • Adapts testing methodology (e.g. sampling methodology, resourcing) based on testing results and overall risk profile of organization.
  • Identifies and assesses the impact of the changing regulatory environment on business objectives, risk appetite and testing methodology.
Requirements:
  • 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
  • 5 years of experience in Risk Management, Compliance, Audit, or related field
  • Experience in planning, executing and reporting on testing reviews and/or regulatory issue validation activities
  • Knowledge and extensive experience with testing/auditing principles, particularly in the understanding of risk and controls, development and execution of testing strategy and approach, perform controls design and effectiveness testing and undertaking data testing
  • Understanding of rules, laws, regulatory requirements and ability to develop/execute tests to assess for compliance with requirements
  • Proficient in risk management software, MS Office Suite, and other related technology tools.
Preferred Qualifications:
  • 3+ years of experience in Financial Services industry and/or knowledge of Line of Business products, services, and business processes
Work Environment:

This is a hybrid role that includes onsite and remote work. The position offers a flexible work schedule with a mix of designated days and variable days from 2-5 days per week.

The work hours are 8:00am - 5:00pm, Monday - Friday.

This position offers a competitive salary based on individual experience.

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