Wholesale Control (WC)
The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution. The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale.
This position is within the APAC Regional Control organization within the International Control organization. The purpose of the International Control team is to identify, assess and mitigate risks across Financial Crimes, Regulatory and Operational Risk types, coordinating with businesses operating internationally, while adhering to policies established by Independent Risk Management (IRM). The International Control Issues Management team will manage a portfolio of issues aligned to the region on behalf of the Regional Business Control Leader. The candidate will act as a coordination point for the Wholesale Issue Management program for issues owned by others in the region to provide updates.
The Business Control Consultant will work with the designated lines of business (LOBs) to implement and execute the required risk controls in an effective, sustainable manner and help identify, escalate and proactively manage risks in the LOBs. Designated businesses will be Wells Fargo businesses operating globally. This Leader will report directly to the Business Control Leader under the APAC Regional Control Leader.
•Develop a strong working knowledge of the designated Line of Business (LOBs) and the key risk controls that apply to these LOBs.
•Serve as the primary day-to-day coverage officers for the LOBs with proven knowledge of products, services, processes, systems and customers in these LOBs.
•Continuously engage in discussions with LOB partners on strategy, industry trends, organizational changes, and new/modified markets, systems, products and services, to determine impact and identify and remediate risk control issues across all risk types.
•Collaborate with, guide and counsel Risk Control and LOB partners on control design and implementation to mitigate risks.
•Collaborate with, guide, and counsel LOB process and control owners on identifying where controls reside, managing control changes and evaluating effectiveness.
•Collaborate with, guide, and counsel LOB partners on matters relating to the implementation of corporate policies and Wholesale requirements.
•Help ensure proper LOB profiles of applicable regulations and associated controls as well as residual risks and compensating controls are maintained and continuously updated in appropriate systems of record on an ongoing basis.
•Responsible for monitoring risk-based programs for a specific business in order to identify, assess and mitigate risk that arises
•Works with the business units and provides risk expertise and consulting for projects and initiatives
•May evaluate the adequacy and effectiveness of policies, procedures, processes, systems and internal controls, analyze business and/or system changes to determine impact; identify risk issues and may participate in the development of risk ratings
•Consults with business to develop corrective action plans and effectively manages change
•Reports findings and develops business cases to influence executive management or management committee member/head of business on the need for controls to mitigate risk
•Leads project/virtual teams and mentors lower level staff
•May directly manage 1-2 specialists/consultants.
•10+ 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 10+ years of IT systems security, business process management or financial services industry experience, of which 5+ years must include direct experience in compliance, operational risk management, or a combination of both
•Experience with process and controls and evaluation for Wholesale businesses and/or Wells Fargo businesses operating globally
•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
•Strong management reporting skills, ability to translate data into actionable information.
•Ability to effectively multi-task and successfully work on several unrelated projects at the same time as well as adapt to changing and competing priorities.
•Experience with enterprise risk frameworks and related processes
•Cross functional understanding of risk and controls (e.g. market, credit, finance, compliance, operations).