Full Job Description
About Wells Fargo
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 7,700 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 33 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the U.S. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations.
Corporate & Investment Banking
Corporate & Investment Banking (CIB), led by Jon Weiss, is a global business delivering a comprehensive suite of traditional banking solutions including credit, treasury management and payments, and capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo. The Control Executive for CIB, Mary Lou Peters, has a business-aligned Control team that will closely partner with Operations Control for all aspects of the CIB business, including Securities Operations that support Wells Fargo Securities (WFS LLC) and regional broker dealers, derivative operations that support its Swap Dealer (WFBNA) including regional branches, and its Global Payments Services, Mortgage Servicing, FCM, and Prime Services businesses. The role will also coordinate with other lines of business that operate in regions outside the United States, providing a comprehensive risk coverage of Operations to International Control, which reports in to CIB Control. The role also will provide Control coverage for the COO function within CIB, including Shared Services performed within the COO function (whether centrally or distributed at the line of business level).
Operations Control (WC)
Operations Control is a new team that will be the front line group within Operations accountable for assessing and ensuring the effective management of associated risks for Operations groups across the Enterprise. This team counsels group leadership on the Operations risk portfolio which includes issue management, remediation and regulatory interactions and facilitates strong cooperation between operations, independent risk management and Audit.
The Operations Control Leader for CIB will manage a multifaceted team with responsibilities for risk management as it relates to the operational capabilities in support of the business. This includes key risk management focus areas such as end to end processes and evaluation of controls performed in Operations for front line processes, design and evaluation of key risk and control measures for operational processes including regulatory reporting and client onboarding, design and reporting related to quality assurance and quality control activities, and oversight of control testing activities and outcomes. Opportunities for process improvement and control enhancement will be a critical focus area, partnering with the front office, COO, CIB and Enterprise technology teams, in order to enhance first line control effectiveness and efficiency end to end.
Specific responsibilities include:
Manage a team of individuals responsible for Operations and Shared Services control management, process understanding and risk/control identification and assessment, and reporting.
Design meaningful metrics and monitoring of key risks and controls, and develop reporting for use by Operations leadership, CIB Control, COO and business leaders, and Enterprise Risk Programs such as RCSA or Risk Appetite.
Keep senior leaders in Operations, COO, CIB Control, and other key stakeholders abreast of operational support risks, operational process and control health, and similar infrastructure and capacity concerns impacting CIB.
Continuously engage in discussions with the CIB COO function, LOB partners and Operations supporting CIB on opportunities to improve end to end processes and controls, new product or services strategies, new/modified markets, systems, products and services, to determine impact and identify and remediate operational risk issues across CIB.
Execute and manage the advancement of core risk program requirements, such as business process management, RCSA, Operational Risk Event analysis and reporting, and issues management.
Provide reporting, written and verbal updates to LOB risk oversight councils, CIB and Enterprise risk committees as issues/incidents arise that require escalation.
Report risk assessment findings through corporate risk reporting channels and develop business cases to influence control owners and business sponsors on the need for additional or improved controls to mitigate risk as applicable.
Establish regular routines with corporate risk, testing & validation and audit partners to provide transparency into business risk profiles and trend.
As a Team Member Manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
Team 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 and if 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.
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. It requires a leader with strong relationship management, influencing, vision and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. The role requires a sense of urgency, passion for results, and personal accountability for achievement.
7+ years of management experience
10+ 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 12+ years of financial services industry experience, of which 10+ years must include direct experience in risk management
Other Desired Qualifications
Experience with first line controls and operational processes around regulatory reporting, entitlements, electronic trading and operations processing.
Prior experience in process improvement, automation of control processes, quality assurance and quality control routines, and risk and control metrics and reporting.
Strong working knowledge of Capital Markets businesses, its products and services, and relevant risks and controls of the business.
Working knowledge of the Risk Management Framework (RMF) concepts and policies across risk types (regulatory, financial crimes, credit, operational, etc.).
Excellent communication skills (verbal, written and interpersonal); ability to concisely articulate complex concepts in a clear manner.
Strong analytical skills with high attention to detail and accuracy.
Highly professional, adaptable and pro-active mindset.
Ability to translate technical language into plain business language, and to translate business requirements into technology initiatives.
Demonstrated capability to confidently raise issues, escalate early, and engage in constructive credible challenge independently.
Technical understanding of specific business operations, processes, products, and customer interactions where they manifest risk.
Ability to develop high performing, diverse risk structure in a highly matrixed environment.
Ability to assess and determine when to raise concerns and escalate.
Pro-actively resolve conflict and maintain objectivity.
Ability to conceptualize, develop, and deliver quality analysis and highly-actionable actionable management information.
Demonstrated capacity to pro-actively and independently analyze and solve problems and address risks.
Other Wells Fargo locations will be considered