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Commercial Banking Compliance Oversight Sr Associate (Reg E, Privacy related regulations)

Company: Wells Fargo
Location: Des Moines
Posted on: November 22, 2021

Job Description:

Job DescriptionImportant Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. -In order to receive text message invitations, your profile must include a mobile phone number designated as "Personal Cell" or "Cellular" in the contact information of your application.At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.As the company's second line of defense, Corporate Risk - or Independent Risk Management - provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of, the frontline's execution of its risk management responsibilities. We manage risk according to the and ensure all employees understand their individual accountability for managing risk.The Commercial Banking Regulatory Compliance (CBRC) function is a part of Commercial Banking Compliance within Independent Risk Management and is responsible for providing governance and oversight for the U.S. bank regulatory compliance programs for Commercial Banking (CB). The CBRC function assesses the comprehensiveness of compliance processes and controls for the Commercial Banking businesses to adhere to and comply with U.S. banking laws, regulations, and rules and in implementing Wells Fargo compliance policies, standards, and programs. Methods developed to provide for compliance with these U.S. laws, regulations and rules include the establishment and maintenance of applicable policies, standards, programs, and procedures documenting internal controls; implementation of surveillance and monitoring capabilities; provision of training and advisory support, and usage of Key Risk Indicator metrics.This position will support the Consumer Compliance Program team within CBRC. The compliance senior associate will be responsible for overseeing Regulation E, Right to Financial Privacy Act ("RFPA") and other privacy related regulations (Regulation P, TCPA, CAN-SPAM, OPPA). The compliance senior associate will provide support to front line businesses and enterprise compliance and risk functions for Commercial Banking broad based projects, reporting requirements, and information gathering. -Key to this role is the ability to serve as a subject matter specialist for Regulation E and Right to Financial Privacy Act. The compliance senior associate will need to demonstrate a solid understanding of internal policy and regulatory requirements associated with Regulation E and RFPA, while partnering with front line business and control partners, business-aligned compliance officers, enterprise compliance and Legal to determine (or validate) requirement applicability for the Commercial Banking businesses. This will include consultation with Enterprise Compliance Officers, Third Party Risk program leaders, control managers and the Wells Fargo Legal Department for any regulatory or policy interpretation as applicable.This position includes the following responsibilities:

  • Providing consulting and advisory services to the Commercial Banking businesses on matters involving Reg. E, RFPA and other consumer banking regulations
  • Conducting and reporting activities associated with the CBRC Consumer Compliance team's compliance oversight program; assisting with aggregating and performing Quality Control on data and supporting documentation
  • Providing monitoring and independent oversight of Commercial Banking Regulation E and RFPA compliance processes as they relate to policy and procedure requirements
  • Capturing, developing, documenting and where necessary escalating challenges -
  • Reviewing and providing guidance for compliance related mitigation/remediation plans -
  • Delivering relevant Regulation E, RFPA or other privacy related updates during the monthly Commercial Banking Consumer Regulation Community of Practice (COP) -
  • Evaluating the adequacy of and effectiveness of policies, procedures, processes and internal controls and providing challenge to business aligned compliance partners, front line businesses and front line control -
  • Working with complex business units and providing in coordination with the enterprise compliance officer Regulation E and RFPA expertise and consulting for testing programs managed by Independent Testing and Validation which may include the review of test scripts
  • Maintaining awareness of new/outstanding issues, testing/reviews completed by IRM, Audit and Regulators, authoritative source information (governance, compliance requirement descriptions, businesses with identified regulatory applicability). -Communicating updates through team meetings, biweekly management reporting and quarterly metric reporting -
  • Consulting with business-aligned Compliance and front-line partners as necessary to develop corrective action plans and mitigation strategies to address identified Regulation E and RFPA process or control deficiencies
  • Implementing, reviewing and/or updating applicable Commercial Banking group-level compliance advisories and training; providing advisory support to applicable business level Regulation E, RFPA or other consumer banking regulatory training
  • Participating in enterprise policy and training development projects, providing reviewer feedback and Commercial Banking expertise to be considered for incorporation
  • Supporting enterprise related assessments, internal audits or regulatory examinations as neededRequired Qualifications
    • 5+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 5+ years of financial services industry experience, of which 3+ years must include direct experience in risk managementDesired Qualifications
      • An active Certified Regulatory Compliance Manager (CRCM) designation
      • Experience with Wells Fargo risk systems such as Shared Risk Platform (SHRP), Risk and Control Self-Assessment (RCSA), or Control Risk Analysis System (CRAS+)
      • Strong analytical skills with high attention to detail and accuracyOther Desired Qualifications
        • Expertise in consumer protection regulations with an emphasis/experience in lending related laws and regulations as they apply to commercial purpose lending and an ability to apply that knowledge
        • Proven knowledge of operational risk, business operations, and processes and systems controls across a variety of complex financial services related businesses
        • Experience in building/designing a control infrastructure through policies, procedures, guidance documents, and training developmentJob Expectations
          • Ability to travel up to 10% of the timeDisclaimer
            All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.Relevant military experience is considered for veterans and transitioning service men and women.Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.Benefits SummaryBenefits -Visit -for benefits information.

Keywords: Wells Fargo, Des Moines , Commercial Banking Compliance Oversight Sr Associate (Reg E, Privacy related regulations), Accounting, Auditing , Des Moines, Iowa

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