Compliance Testing Lead

Job Description

Compliance Testing Lead The Compliance Testing Lead within the Second Line of Defense (2LOD) plays a pivotal role in providing oversight and guidance to the business on compliance testing strategies and methodologies.

The Compliance Testing Lead is responsible for leading and executing on the Compliance Testing program for Comerica, relying upon a strong and deep working knowledge of applicable banking laws and regulations.

They are critical to the success of the Risk Management program as they are responsible for leading the lifecycle of compliance testing, from planning and fieldwork to final reporting and issue validation.

This position will lead the development and preparation of test scripts, execution against test plans, preparation of management reporting, and ensuring adequate resolution of risks and / or identified issues.

Position Responsibilities : Compliance Testing and Business Partnership

• Lead and manage the end-to-end testing lifestyle including planning, fieldwork, final reporting, and resolution of testing plans.
• Partner with Compliance Advisory Specialists to define scope, framework, objective, and depth of testing by reviewing the risks and controls identified in the Compliance Risk Assessment (CCRA), Risk Assessment (RCSA) or by other means.
• Participate in and lead the development and documentation of test scripts, including supporting documentation, to ensure testing is appropriate and covers the applicable regulatory scope for Comerica.
• Execute on testing plans to assess the control environment, including producing accurate and timely workpapers that adequately support testing results and conclusions.
• Document findings and remediation plans in accordance with Comerica's Issue Management process.
• Provide oversight, recommendation, evaluation and guidance on testing strategies and methodologies to demonstrate the effectiveness and adequacy of policies, procedures, and controls to more junior colleagues on the testing team.
• Partner with Compliance Advisory Management to review and adjust testing and remediation plans to account for revised regulatory guidance and / or emerging risks.
• Collaborate with business partners in the First and Second Lines of Defense, and Third Line of Defense (3LOD) Audit Teams to refine compliance testing methodologies and standards, testing schedules, results of testing and trends, and best practices.

Regulatory Compliance and Risk Awareness

• Provide advice, guidance, and oversight for assigned area of testing by possessing strong working knowledge of the applicable rules and regulations.
• Identify, measure, and escalate compliance risk issues to management as necessary.
• Provide compliance risk expertise to the lines of business on developing issue remediation plans and effectively managing regulatory change and risk.
• Maintain up to date knowledge of changing regulatory requirements and Comerica's business model to identify changes that have potential to impact Comerica's compliance framework and the Compliance Testing plan.

Monitoring, Audits and Exams

• Lead preparation / coordination of deliverables accurately and timely (, responses, artifacts).
• Lead preparation of responses to inquiries as needed.
• Participate as a subject matter expert in other testing and monitoring activities such as KPI / KRI reporting, CCRA activities, audits, etc.
30+ days ago