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Chief Compliance Officer

at Comerica Bank

Posted: 6/24/2019
Job Reference #: 5000483464506

Job Description

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Position Qualifications
  • Bachelor's degree in Finance, Accounting, or business-related field
  • 15 years of compliance experience in the securities, investment management and insurance industry, including the management and response to regulatory inquiries, examinations and customer complaints.
  • 15 years experience working with FINRA rules, the Investment Advisers Act of 1940, insurance regulations, ERISA, and other relevant regulations and laws including working knowledge of Global Investment Performance Standards (GIPS)
  • Series 7, 24, 53, 63 and 65 (or combined 66) Licenses required; Series 4 and Life, Health and Variable insurance licenses preferred

SVP, Chief Compliance Officer, Comerica Securities, Inc., Comerica Insurance Services, Inc. and World Asset Management, Inc. (collectively the "Organization").
 
The Organization is a non-bank affiliate of Comerica, Inc. ("Comerica") and a part of Comerica's Wealth Management Division ("WM"). Comerica's Wealth Management team consists of various divisions of Comerica Bank, affiliates of Comerica Bank including Comerica Bank & Trust, N.A., and subsidiaries of Comerica Bank, including the Organization and its affiliated insurance agencies.

Summary
The Chief Compliance Officer ("CCO") is responsible for overseeing compliance within the Organization and its various business lines, including ensuring its compliance with all applicable rules, laws, regulatory requirements, policies and procedures. As a senior leader and subject matter expert, the CCO is responsible for promoting and supporting a culture of risk management and compliance throughout all levels within the Organization; the CCO's activities are conducted in close coordination with Comerica Bank's enterprise-wide risk management and compliance framework. The CCO will use extensive knowledge of the various rules, regulations and laws that apply to the Organization and its activities to establish standards, implement policies and procedures, and review the adequacy of its policies and procedures to ensure that the compliance programs throughout the Organization are effective and efficient in identifying, preventing, detecting and correcting noncompliance with all applicable laws and regulations.
 
Essential Duties and Responsibilities
  • Administer, enforce, and oversee the maintenance of the Organization's written policies and procedures and its Codes of Ethics to assure they are reasonably designed to achieve compliance with all applicable federal, state and SRO rules and regulations that govern its operation including; securities, investment banking, investment advisory and insurance activities.
  • Maintain and enforce the Organization's system of supervisory controls, including the development and maintenance of a program to test compliance with the Organization's policies and procedures, an issue mitigation process, and the communication of results to the President and Chief Executive Officer ("CEO"), the Organization's Board of Directors ("Board"), Enterprise Wide Corporate Compliance ("EWCC"), Risk Management ("RM"), and other committees and councils, as appropriate.
  • Lead and manage two teams of multi-disciplinary compliance professionals as well as conduct oversight and testing for all outsourced compliance functions.
  • Engage in regular and significant interactions with senior management of the Organization regarding its compliance program to assure the program is appropriately integrated across all of the Organization's activities, and to support, among other things, the CEO's annual certification.
  • Develop partnerships and engage in regular and significant interactions with senior management across Comerica's three lines of defense, including the EWCC Compliance Director and WM Risk Director, to build compliance processes that assure the Organization's integration with Comerica's enterprise-wide compliance and risk management process.
  • Identify and mitigate significant compliance issues including escalation to senior management of the Organization and across Comerica's three lines of defense. Issues may include, but are not limited to, conflicts of interest, emerging risks, changes to the Organization's business lines, product and structure, changes to applicable rules, regulations, and laws that may impact the Organization, and customer complaints and litigation.
  • Act as the primary contact for, and establish and maintain strong working relationships with, FINRA, SEC, and other applicable regulatory agencies. Coordinate efforts related to audits, reviews, and examinations, and inquires.
  • Ensure all required Organizational regulatory filings are submitted in an accurate and timely manner.
  • Ensure the Organization's covered and supervised persons, as applicable, complete all required regulatory training, including, but not limited to, Firm Element, Regulatory Element, Annual Compliance Meetings, Continuing Education and other required training, as applicable.
  • Other duties as assigned.
Reporting
The CCO will report to the CEO of the Organization, and its Board. The CCO will also have significant interaction with the EWCC Compliance Director and WM Risk Director.

8:00am- 5:00pm Monday- Friday
Comerica Bank Tower

We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.

Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.

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 by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 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 - veterans/individuals with disabilities, committed to workplace diversity.