Comerica Bank Job - 40587601 | CareerArc
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Company: Comerica Bank
Location: Livonia, MI
Career Level: Associate
Industries: Banking, Insurance, Financial Services


Flood Compliance Specialist
The Flood Compliance Specialist role will be responsible for handling all pre- and post-closing flood insurance regulatory activities to ensure compliance of governmental requirements on Comerica's commercial loan portfolio. This will include ordering flood hazard determinations, analyzing results, working with Loan Closers, Lending Assistants, and Relationship Managers to obtain required documentation when real estate is located in a designated flood hazard area, preparing flood worksheets, assessing adequacy of insurance and supporting documentation, completing post-closing review and all flood maintenance activities and providing authorization to close on affected loan requests.
Position Competencies
Successful incumbents possess strong organizational and problem-solving skills, are customer focused, can analyze data and make decisions, are action oriented, possess strong time management, functional/technical and verbal/written communication skills.
Position Responsibilities:
Regulatory Processing and Compliance Oversight

  • Serve as Subject Matter Expert (SME) for Flood regulations and process for all levels of bank personnel.
  • Order flood determinations for new loan requests and handling of existing loan portfolio to ensure adherence to regulatory requirements.
  • Analyze existing flood determinations and supporting documentation on file to determine necessity of new flood determination ordered vs use of existing flood determination.
  • Maintain knowledge of requirements to order flood determinations and effectively analyze results.
  • Order additional due diligence items as necessary.
  • Participate as SME on assigned project teams to evaluate potential impacts of new processes and systems upgrades on Flood Portfolio activities and regulatory compliance.
Client Relations and Problem Resolution
  • Collaborate with Relationship Managers, Lending Assistants and Loan Closers to order necessary due diligence and flood hazard documentation.
  • Mitigate Risk by working with Relationship Managers, Lending Assistants, Loan Closers and LTS processing team members to obtain required documentation for compliant files.
  • Effectively communicate clear and detailed instructions needed to meet regulatory requirements.
  • Accurately utilize entity documentation for flood determination orders and completion of all requests.
  • Resolve issues for the most complex documentation by providing appropriate instructions to all levels of bank personnel on flood specified loans.
Analysis and Approval
  • Provide Authorization for loan closing on all commercial loans affected by flood regulatory requirements.
  • Review flood determination results to determine next steps to ensure regulatory compliance.
  • Enter all data into team tracking database using tools such as SharePoint and other CMA loan systems. Data is used to confirm corporate compliance with regulations.
  • Prepare flood worksheet to ensure loan is compliant and appropriate flood insurance has been obtained.
  • Analyze results from various internal reviews to ensure compliance with applicable Federal and State laws.
  • Provide trend analysis and recommendations for processing improvements based on findings.
Quality Review and Tracking
  • Perform monthly quality review of:
    • Executed documentation received to ensure all documents were received and a post-closing review has been completed, including property additions to Bank systems for tracking.
    • Collateral Set Up to confirm accuracy and completeness.
    • Flood/Activities and Oversight functions. Confirm appropriate data is provided to vendors. Perform post-closing review of all flood related documentation on executed loan documents. Ensure system information is updated as necessary.
    • Perform secondary review of all documentation completed by peers to ensure accuracy and compliance.
    • Issue and work with Relationship Managers to clear exceptions for flood related deficiencies.
    • Complete and maintain flood files for property located in a SFHA.
    • Review and analyze documentation received post-closing and compare to documentation received when authorization was provided to ensure changes have not occurred relative to the collateral subject to flood activities and regulatory requirements have been met.
    • Image applicable documents for easy identification and tracking.
Vendor Validation, Audit and Flood Maintenance
  • Work with vendor to ensure collateral is monitored for flood insurance for the life of the loans in Comerica's Commercial Loan Portfolio.
  • Validate evidence of flood insurance through review of documentation on file to ensure regulatory compliance.
  • Manage force placement activities for loans that are not compliant with the regulation.
    • Flood insurance force placement notifications are accurate and timely.
    • Force placement of flood insurance is accurate and timely.
    • Force placement is cancelled timely.
    • Manage record retention of flood insurance supporting documentation.
    • Perform targeted reviews and analyze results to ensure compliance with all applicable Federal and State Laws on a continual rotating basis.
    • Perform research for response to audits/exams. Provide auditors with appropriate documentation and answers relative to regulatory flood requirements.
    • Create and maintain compliant and well-organized flood files.

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