Manager, Regulatory Change Management - Hybrid / Remote

Comerica - Farmington Hills, MI

Full-time - Manager

Farmington Hills, MI

Credit Intermediation and Related Activities

About the position

The Manager of Regulatory Change Management plays a critical role in overseeing the management of regulatory changes within the Bank. Reporting directly to the Director of Enterprise Compliance Risk Assessment, this position is tasked with building and maintaining a comprehensive library of applicable laws, rules, and regulations (LRRs) that impact the organization. The Manager is responsible for ensuring that new and amended LRRs are identified, communicated, and implemented in a timely manner, thereby safeguarding the Bank's compliance with regulatory requirements. In addition to managing the LRR library, the Manager will contribute to the development of the regulatory change management methodology, ensuring that it evolves in response to the changing regulatory landscape. This role requires a deep understanding of key federal regulations issued by the Federal Reserve, the OCC, and the FDIC, as well as the ability to maintain strong relationships with various lines of business, compliance advisory teams, and risk partners. The Manager will lead cross-functional teams in managing regulatory change projects, ensuring that all necessary controls and procedures are in place. This includes monitoring regulatory developments, reporting on the status of the regulatory change management program, and ensuring that all compliance activities are executed with quality and accuracy. Furthermore, the Manager will be responsible for training and developing a high-performing team, fostering a culture of compliance and continuous improvement within the organization.

Responsibilities

• Lead the development and implementation of a comprehensive LRR Library.
• Develop, implement and oversee the day-to-day RCM processes, controls and procedures to ensure compliance with regulatory requirements.
• Develop and maintain key risk indicators (KRIs) relating to the Regulatory Change Management Process (RCM).
• Communicate regulatory changes across the bank and partner with Lines of Business to ensure implementation of regulatory changes.
• Provide oversight to ensure that regulatory changes are incorporated into Comerica's policies, procedures, and processes in a timely and appropriate manner.
• Responsible for the oversight for the RCM governance process including reporting to management.
• Lead cross-functional teams to manage regulatory change projects, including planning, execution and monitoring of milestones and deadlines.
• Participate as a regulatory change management expert on project teams where significant change is taking place to ensure that all requirements are being met, e.g. controls, procedures etc.
• Monitor regulatory developments and escalate key potential regulatory changes to management.
• Ensure the quality, accuracy and timeliness of regulatory compliance activities and documentation and implement improvements as needed.
• Report on the RCM program to management, including KRIs, program status, key regulatory changes and actions being taken to comply with regulatory changes.
• Manage the automation of the RCM process in the GRC Tool.
• Communicate regulatory requirements and changes to internal stakeholders, including senior management, legal teams and Line of Business partners.
• Provide training and education to employees on regulatory requirements and changes relevant to their roles.
• Develop team through ongoing performance coaching, counseling and training programs.
• Hire, train and retain a high-performing team.
• Develop and manage the strategy for integration of the LRR Library and RCM process with other components of the Compliance Risk Management Framework.
• Stay updated on relevant laws, regulations and industry standards and assist with interpreting their implications for the Bank.
• Participate in industry forums.

Requirements

• Functional knowledge of key federal regulations issued by the Federal Reserve, the OCC, and the FDIC.
• Experience in regulatory change management processes and compliance activities.
• Strong communication skills to convey regulatory requirements and changes to various stakeholders.
• Ability to lead cross-functional teams and manage regulatory change projects effectively.
• Experience in developing and maintaining key risk indicators (KRIs).
• Proven track record in training and developing teams.
• Strong analytical skills to monitor regulatory developments and assess their impact on the organization.

Nice-to-haves

• Experience with GRC tools for automating compliance processes.
• Participation in industry forums related to regulatory compliance.
• Advanced degree in a relevant field such as law, finance, or business administration.

Benefits

• Health insurance coverage
• Dental insurance coverage
• 401k retirement savings plan
• Paid holidays and vacation time
• Professional development opportunities
• Flexible scheduling options