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Operational Risk Consultant 4 Wholesale Financial Crimes Operations (WFCO) Product Risk

Company: Wells Fargo
Location: Des Moines
Posted on: June 16, 2019

Job Description:

Job Description
At Wells Fargo, we want to satisfy our customers financial needs and help them succeed financially. We re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you ll feel valued and inspired to contribute your unique skills and experience.Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.The Wholesale Financial Crimes Operations (WFCO) team is responsible for the coordination, oversight and ultimate execution of Wholesale Banking s commitments to key internal and external stakeholders as it relates to the management of financial crimes risk with the Wholesale Bank. In addition to having responsibility for Wholesale Banking s execution of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program, WFCO is also responsible for the remediation of the OCC BSA/AML Consent Order. This team will partner with line of business ( LOB ), operations, risk and compliance team members, Wholesale Control Executive Office, Enterprise Financial Crimes Risk Management, Wells Fargo Audit Services, and Testing & Validation to advocate and ensure alignment in scope, purpose, expectations and execution of the Wholesale Financial Crimes Program. The team will achieve this through a focus on strong communication, strategic planning, thoughtful and meaningful tracking/reporting, and timely escalation and change management.The Product Risk Team within WFCO is seeking an Operational Risk Consultant 4 (ORC4). The team will interact with Wholesale Control Executive leaders, subject matter experts from Wholesale business lines, and team members from Independent Risk Management and Wells Fargo Audit Services, among others. The team is geographically disbursed and this ORC4 will be responsible for contributing to all Product Risk Team responsibilities. The incumbent will also be responsible for risk identification and escalation.In general, an ORC4 is responsible for developing, implementing and monitoring risk-based programs to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency. May provide oversight to an operational risk program. Works with complex business units and provides operational risk expertise and consulting for projects and initiatives with high risk. May provide systems security consulting on complex issues. Designs and develops testing strategies, methodologies and analyses; evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyzes business and/or system changes to determine impact, identifies and assesses operational risk issues and assigns risk ratings consistent with established policy standards. Consults with business to develop corrective action plans and effectively manages change. Identifies training opportunities; designs/coordinates the development of training materials; delivers or coordinates training delivery. Reports findings and develops business cases to influence senior management on the need for controls to mitigate risk. Manages and/or coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies. Manages project teams and may provide guidance to less experienced consultants. May directly manage 1-2 specialists/consultants.Individual Responsibilities:

  • Assist the Manager, WFCO Product Risk in the development and implementation of policies, procedures, guidance documents, etc.
  • Assist in the development of training materials for WFCO Product Risk
  • Assist in the identification and escalation of potential operational risk issues across WFCO Product Risk
  • Assist in the development of a governance / oversight and metrics program for WFCO Product Risk
  • Assist in the documentation of meeting minutes and tracking of action items, line of business escalations, audit issues, etc.
  • Develop code for purpose of data extraction from various Wholesale databases
  • Assist WFCO Product Risk team members with complex queries and cluster analyses to help identify and determine performance measurement and intelligence
  • Assist with impact analysis in the event of a net new product or product modification
  • Other responsibilities may include data extraction for purpose of risk assessment of customer suitability and portfolio compare based on high risk product holdings, and validation review of qualifying products which may result in a credible challenge or potential self-reporting of a corrective action raised by the WFCO PRT teamTeam members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit s risk appetite and all risk and compliance program requirements.

    Required Qualifications
    • 6+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both

      Desired Qualifications
      • Advanced Microsoft Office skills
      • Excellent verbal, written, and interpersonal communication skills
      • Strong analytical skills with high attention to detail and accuracy
      • Ability to interact with all levels of an organization
      • Anti Money Laundering (AML) and Bank Secrecy Act (BSA) experience
      • Certified Anti Money Laundering Specialist (CAMS)
      • Certified Fraud Examiner (CFE)
      • An active Certified Regulatory Compliance Manager (CRCM) designation
      • Ability to handle confidential material in a professional manner
      • Ability to articulate complex concepts in a clear manner
      • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
      • Experience developing and executing communication strategies by collaborating with large, matrixed teams
      • Leadership or management experience
      • Knowledge and understanding of operational risk management in the financial services industry
      • Ability to take initiative and work independently with minimal supervision in a structured environment

        Other Desired Qualifications
        • Working knowledge of BSA/AML programs including KYC, CDD, EDD, CIP and / or other related risk and regulatory disciplines
        • Ability to dissect complex organizational structures to complete due diligence

          Job Expectations
          • Ability to travel up to 10% of the time


            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.
            Associated topics: broker, derivatives, fiduciary, invest, purchase, risk, securities broker, stock, s p, trader

Keywords: Wells Fargo, Des Moines , Operational Risk Consultant 4 Wholesale Financial Crimes Operations (WFCO) Product Risk, Other , Des Moines, Iowa

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