Wells Fargo & Company (NYSE: WFC) is a leading global financial services company with $2.0 trillion in assets and offices in over 37 countries. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides asset management, capital raising and advisory, financing, foreign exchange, payments, risk management, and trade finance services to support customers who conduct business in the global economy. At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We also value the viewpoints of our team members and encourage them to be their best. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. Learn more at our International Careers website .
Market Job Description
The European and Irish Regulatory Guidelines for Financial Institutions have led to increased requirements and responsibilities in the area of Outsourcing of services as more and more financial services institutions begin to rely on outsourcing as a means of reducing costs and improving flexibility and efficiency.
The regulatory guidelines require financial institutions to identify the outsourcing of critical or important functions and impose stricter requirements on such outsourcing as compared to other outsourcing arrangements. They also provide a harmonised set of criteria for assessing criticality or importance.
WFBI have developed an Outsourcing Policy and an associated Outsourcing Framework to manage the risks associated with its outsourced activities, including reflecting current and emerging regulatory guidance.
Wells Fargo are now looking to appoint an Outsourcing Manager to act as the overall owner of the outsourcing framework and manage and monitor outsourced activities within WFBI. Responsibilities:
- Act as the owner of the WFBI outsourcing framework and supporting procedures, working closely with WFBI Compliance, the WFBI Outsourcing Policy owners.
- Manage WFBI's internal governance and approval process and prepare all necessary information for Management Committee approval, WFBI Board approval and the CBI notification by Compliance.
- Manage the WFBI input and act as primary interface between WFBI and Corporate team that execute the process for all Wells Fargo Inter-Company Agreements, including amendments.
- Facilitate the management of proposed Outsourcing initiatives to conclusion, in adherence to the WFBI
- Outsourcing Policy utilising the WFBI Outsourcing Framework.
- Maintain the WFBI Outsourcing Register in conjunction with the applicable corporate teams responsible for contract execution/management, to support regulatory requirements and functional and entity-level insight into outsourcing to support effective risk management, including concentration risk.
- Manage the internal monitoring and oversight process, including collating data, challenging service recipients, identifying improvements, tracking actions to completion and reporting to the Management Committee and the Board
- Engage in periodic service reviews to ensure that all contracts remain consistent with services delivered and that Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) remain within agreed tolerances
- Completion of Regulatory submissions, as required.
- Assist business functions in responding to regulatory queries, on-site visit preparation and follow-on requests for information.
- Participate as necessary in projects for the termination of any outsourced service
- Maintain a central KPI register with regard to outsourced services
Market Skills and Certifications
- Degree in Banking, Finance, Economics or IT with a good tarck record in Management roles.
- Experience in change management and project management
- Experience in an outsourced environment desirable
- Excellent leadership and communication skills, fluent in English (written and oral)
- Excellent communication skills, both verbal and written, to various situations and audiences
- Excellent organisation skills
- Wholesale Financial Services background would be preferred
- Ability to analyse financial and business data and assess the adequacy of status updates is essential.
- Advanced computer skills (MS Office: Excel, Word, PowerPoint, and Outlook…)
- Must be extremely flexible with a positive, hands-on and proactive approach to work
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.