Operational Risk Loss Events Framework Lead
The Operational Loss Events Framework Lead is responsible for managing Comerica's operational loss events program: inclusive of identifying, tracking, analyzing, and reporting on operational loss events in alignment with corporate objectives, risk management frameworks, industry best practices, and regulatory requirements. The successful candidate must be a strategic thinker to develop, implement, and educate colleagues on the overall operational loss event framework. This includes understanding the necessary requirements for large banks, impacts to Operational Risk Capital (ORC), proper root cause analysis, risk and control identification, and ability to articulate Operational loss driver to Basel and Operational risk taxonomy.
Position Responsibilities:
Framework Management
- Evaluate current construct to identify a fit-for-purpose and dynamic framework solution to ensure proper identification, documentation, and reporting of operational loss events across the company.
- Develop and codify framework requirements with the Policy and supporting procedure(s).
- Serve as primary point of contact for all operational loss events including collaboration with the First Line-of Defense (FLOD) partners in loss event identifcation, impact / root-cause analysis, and potential Issue identification.
- Ensure proper classification and categorization of loss events aligned to regulatory requirements and internal taxonomies.
- Faciliate the investigation and root cause analysis of significant loss events.
Provide recommendations to senior leadership regarding ares of improvement in risk - management processes.
Reporting and Monitoring
- Establish regular reporting, including frequency, format, distribution, and comparisons to historical trends, industry data, etc.
- Provide regular reporting to relevent stakeholders, senior management, and committee / Board updates.
- Monitor ongoing loss event reporting to requirements (e.g., reporting deadlines), and perform quality review of root-cause analysis, Issue identification, and articulation of thematic risk drivers that can assist with reducing operational losses.
Training and Awareness
- Partner with other deparments within the Second Line-of-Defense (e.g., Compliance) to ensure proper adherence to the Framework and Policy.
- Provide guidance to both First and Second Line-of Defense teams on how to report, manage, and resolve operational loss events.
- Lead / develop training programs to ensure awareness across the company when applicable.
Other
- Assist with or identify departmental initiatives and enhancements as needed.
- Assist with other ORMF related activities / projects as needed.
Position Qualifications:
- Bachelor's Degree from an accredited university or 4 years of equivalent work experience; preferred in Accounting, Finance or Risk Management; Master's Degree preferred
- 8 years of risk or equivalent experience in accounting/finance and/or risk management, governance, or similar role withing the financial services industry
- 8 years of experience in understanding of financial services processes (i.e., Retail, Commercial Lending, and Banking), loss event governance at a larger financial institution, experience with regulatory frameworks (e.g., Basel III, OCC, FRB), and able to speak to the processes with the management of the FLOD
- 5 years of experience with change management and control
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. Your fingerprints will be used to check the criminal history records of the FBI and may be subscribed in the FBI's Record of Arrest and Prosecution Background ("RAP Back") service, which provides ongoing notification to the Company of any updates to your criminal history.
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 - disability/veteran.
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Comerica Bank
life insurance, parental leave, paid time off, sick time, 401(k)
May 30, 2025