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Compliance Consultant 4 - UDAAP Testing

Company: Wells Fargo
Location: Des Moines
Posted on: February 13, 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.

Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through more than 8,300 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. News, insights and perspective from Wells Fargo are also available at Wells Fargo Stories.

Wells Fargo Compliance is the company's compliance independent risk management function, providing company-wide leadership, standards, support, and independent oversight to ensure that all front-line business groups abide by applicable laws, rules, regulations and regulatory guidance (regulatory requirements), meet compliance responsibilities, and manage compliance risks. Wells Fargo Compliance credibly challenges management decisions, business processes and activities, and evaluates and assesses adherence to applicable regulatory requirements. It provides appropriate analysis, reporting, and escalation to senior management and the Board of Directors, sets minimum standards for the company, and gives advice, guidance, and support for compliance risk management activities across the enterprise.

Within Wells Fargo Compliance, this group provides an independent oversight function within the second line of defense, establishing and maintaining a consolidated Enterprise Testing function at the corporate level. They are responsible for developing a common methodology and standards, providing governance and oversight, executing testing; and conducting horizontal reviews. Testing and validation teams throughout corporate risk will be responsible for implementing the Enterprise Testing methodology and standards, and executing group-specific testing.

The Community Banking & Payments, Virtual Solutions, and Innovation Testing and Validation (CB/PVSI TV) - Unfair or Deceptive Acts or Practices (UDAAP), Sales Practice (SP) and Fair Lending (FL) team is seeking seasoned Compliance Consultants to perform independent regulatory compliance testing specific to UDAAP, FL, and SP within the departments Deposit Products Group (DPG) and Operations. DPG develops and maintains consumer and business deposit products and Operations is a back-office department that performs various functions, including fraud detection and mitigation, escheatment, garnishment requests, online deposit application processing, etc. This position will interact with the UDAAP Program Office, Legal Department, Business Control Executive teams, the Testing and Validation teams, line of business Operational Risk and Compliance teams, other Testing and Validation managers, Wells Fargo Audit Services, and other oversight groups.

In addition to the responsibilities above, this position will have responsibility for:

  • Developing testing strategies and methodology for UDAAP, SP, and FL
  • Evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, product and internal controls
  • Participating in complex testing engagements for UDAAP, SP and FL risks impacting Community Banking, Consumer Lending, Auto and PVSI
  • Drafting reports of findings and provide recommendations to business line management
  • Consulting with various issue owners to assist in developing corrective action plans
  • Assist in effectively managing change to ensure regulatory compliance
  • May assist with site, agency or other examinations conducted by internal/external part 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
    • 2+ years of compliance and controls testing experience 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
      • Risk and regulatory compliance experience
      • Ability to articulate complex concepts in a clear manner
      • Knowledge and understanding of audit methodologies and tools that support audit processes
      • Outstanding problem solving and decision making skills
      • Ability to identify and evaluate trends, isolate root cause, and provide swift/thorough resolution
      • Strong organizational, multi-tasking, and prioritizing skills
      • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
      • Knowledge and understanding of complex regulatory/compliance issues and potential solutions
      • A BS/BA degree or higher Other Desired Qualifications
        • CRCM, CIA, or other Compliance/Audit Certifications
        • Experience developing testing strategies and methodology for UDAAP and FRL
        • Community Banking Experience and / or consumer lending experience
        • Evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, product and internal controls Disclaimer

          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.

          Department: Community Banking - provided by Dice Analysis, Analytical Skills, Consulting, Management, Risk Management, Sales, Security, Testing, Validation

          Keywords: Wells Fargo, Des Moines , Compliance Consultant 4 - UDAAP Testing, Professions , Des Moines, Iowa

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