Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Market Job Description
About the Role
Works with assigned business units to provide internal control and compliance risk expertise and consulting for projects and initiatives with moderate to high risk to identify, assess and mitigate regulatory risk in business activities as well as developing corrective action plans for deficiencies. Report findings and draft recommendations to compliance risk and business line management. Produce periodic compliance performance reports (i.e. CAR Reports) for senior management.
Responsible for performing risk-based compliance control testing to assure compliance with regulatory requirements and corporate policies applicable to brokerage. These responsibilities will include the support and/or testing for compliance of the Operational Risk and Compliance Testing and Validation Standards and Regulatory Compliance Risk Management Policy and Procedures and will include usage of the Wells Fargo SHRP system. Does not manage other team members.
Work with TV partners and lines of business to perform Compliance testing (BSA/AML/OFAC Financial Crimes) and/or operational risk control testing reviews
Execute control testing in an effective manner and contribute to the Planning/Execution/Issue Identification and reporting stages of validation, according to Enterprise Testing & Validation Standards while adhering to the timelines.
Exhibit credible challenge and evaluate the design and effectiveness of policies, procedures, processes and internal controls while maintaining professional independence throughout the testing engagement
Complete thorough walk-throughs of business area and ensure the control testing results documented within the work papers are clear, concise and factually supported by an evidence
Ensure test scripts are designed to fully address regulation /associated risks and conduct transactional testing as needed;
Display analytical / problem solving skills and is able to integrate information from multiple sources to identify issues resulting in non-adherence with applicable Compliance regulations
Maintain working knowledge of industry events, applicable Regulatory changes (BSA/AML/OFAC/Financial Crimes) and happenings to help better ensure appropriate testing coverage
Evaluate issues identified, including root cause, issue severity and communicate them to Line of business.
Assesses, document, and communicate emerging risks and identified issues to management in a timely manner and participate in discussions with risk partners.
Demonstrate an understanding of the Annual Plan, including an understanding of risks driving targeted reviews as necessary. Provide all required updates on regular basis.
Produce periodic compliance performance reports (i.e. CAR Reports) for senior management.
May lead reviews to ensure testing activities (RCSA, MR, BPT, Targeted Reviews, Issue Validation) are completed on schedule.
Proactively work on remediating schedule issues.
BBA, B.Com, BBM, M.Com, MBA or equivalent degree (Accounting, Information Systems, Business Management, Finance, Business Administration)
6-8 Years of relevant Experience in Internal Audit, Compliance & Operational Risk Testing, Ops Risk, FCRM and Reg Compliance
Experience with risk management tools.
Ability to develop and foster partnerships and influence change.
Adaptable to a dynamic work environment with multiple priorities and strict timelines and able to organize for responsiveness and efficiency.
Proven ability to work within a team environment as well as individual accountability.
Experience working knowledge in large complex organizations
Understanding of APAC & US banking regulatory requirements
Tools/Systems needed: Microsoft Excel, PowerPoint, Visio, and Word
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo