About the position
The Regulatory Change Management Specialist reports to the Manager of Regulatory Change Management and is responsible for facilitating all aspects of the Regulatory Change Management (RCM) process and contributing to administrative updates to program documents. This includes ensuring that new Regulatory Change issuances of low to medium complexity and impact are socialized, assessed, and any necessary implementation actions are incorporated into business processes in a timely manner. It also includes assisting in development and enhancements of workflow and rules in the GRC Tool and testing changes to the Tool. This role requires functional knowledge of key federal regulations issued by the Federal Reserve, OCC, CFPB, and FDIC. This role will maintain strong relationships with the lines of business, compliance advisory, and risk partners.
Responsibilities
- Conduct the day-to-day workflow of the RCM process working with stakeholders throughout the Bank to ensure actions to address regulatory changes are defined and implemented in a timely manner.
- Support the development and testing of the business requirements for the automation and continued enhancement of the RCM process in the GRC Tool at direction of the Reg Change Manager.
- Monitor and document changes in regulations, enforcement actions, guidance, and other regulatory publications to ensure that regulatory changes are incorporated into Comerica's policies, procedures, and processes in a timely and appropriate manner.
- Work closely with functional areas across the Bank to ensure implementation of regulatory changes of low to medium complexity, including facilitating meetings as needed.
- Serve as the primary contact for stakeholders on the RCM process and tool including questions, deliverables, and system access.
- Update RCM procedures and ensure that regular reviews and updates are performed.
- Analyze data for trends and lessons learned and compile feedback from Senior Specialists to provide summary to management.
- Prepare reporting on RCM workflow and regulatory changes.
- Create and deliver RCM-specific training to functional areas across Comerica.
- Communicate regulatory change effectively across the Bank.
- Other duties as needed.
Requirements
- Bachelor's Degree from an accredited university or in lieu of a bachelor's degree a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry.
- 4 years of experience in financial services or related industry.
- 4 years of experience in compliance, risk management in financial services or related industry.
- 2 years of experience in Regulatory change management processes covering Federal Reserve regulations at a minimum.
Benefits
- Health and welfare programs
- Strong retirement benefits
- Generous paid time off programs
- Medical, dental, and vision benefits
- 401(k) and pension
- Income protection benefits such as life insurance, AD&D, and supplemental health programs
- Variety of time off programs for vacation, sick time, disability, and parental leave
