Enhanced Due Diligence Manager ( FCM3 )

Wells Fargo   •  

Sacramento, CA

Industry: Accounting, Finance & Insurance


8 - 10 years

Posted 250 days ago

This job is no longer available.


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.

The Enhanced Due Diligence Center (EDDC), within Financial Crimes Risk Management (FCRM), is looking for qualified candidates to join an exciting team focused on managing the enhanced due diligence programs for Money Services Businesses, Third Party Payment Processors, and other high risk customers that supports Community Banking.

This position will be responsible for managing three different work teams to ensure consistency and effective execution of our due diligence programs.  They will work closely with other managers within the EDDC, Financial Crimes Analytics, Financial Crimes Investigations as well as the line of business and line of business risk teams to manage the existing due diligence programs.   The manager will be an AML/Due Diligence subject matter.

As the Enhanced Due Diligence Manager, you will:

  • Manage teams of due diligence consultants conducting transactional analysis and due diligence reviews for high risk customers including but not limited to, Money Services Businesses, Third-Party Payment Processors, Gaming/Casino entities and customers using high risk products.
  • Provide compliance risk and data analysis expertise to portfolio management, business projects and initiatives
  • Be responsible for managing the development, implementation and monitoring of risk-based compliance programs within the EDDC teams to assure compliance with federal, state, agency, legal and regulatory requirements
  • Work with risk and business management to identify, formulate and implement compliance policies and procedures.
  • Be responsible for coordinating with FCRM partners to respond to internal auditors and external regulators as part of coordinated examinations.

The Enhanced Due Diligence Center, is within the Financial Crimes Risk Management (FCRM) organization. The Enhanced Due Diligence Center (EDDC) group was formed in 2013 to help meet the evolving due diligence needs of its Line of Business partners. This group is responsible for ensuring that Wells Fargo handles risk with high risk industries at the enterprise level, and that Wells Fargo is in compliance with all applicable BSA laws and regulations.

Based on corporate and Line of Business needs, the EDDC group offers the following services:

  • Establishes and manages enhanced due diligence programs that provide enterprise-level oversight for specific high risk products and services
  • Builds and maintains centralized processes to provide consistent customer and product due diligence
  • Builds and maintains centralized processes to provide consistent customer and product due diligence
  • Provides consulting and subject matter expertise to LOBs on BSA/AML regulatory requirements and risk mitigation options
  • Works closely with the FCRM Policy group in the development of corporate policy related to due diligence requirements for certain high-risk customer and product types

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.

If appling through LinkedIn use #ESGRisk or #WFRiskJob

Required Qualifications

  • 6+ years of experience with BSA/AML/OFAC laws and regulations
  • 9+ years of experience in one or a combination of the following: fraud, Bank Secrecy Act, anti money laundering, investigations of financial crimes transactions or policy violations, risk management, or compliance
  • 3+ years of management experience

Desired Qualifications

  • Excellent verbal, written, and interpersonal communication skills
  • Strong presentation skills

Other Desired Qualifications

  • Ability to recognize and identify issues, articulate relevant factors, and evaluate alternative solutions.
  • Experience with managing processes including writing procedures, implementing and communicating process changes to work team.
  • Proven leadership and management skills, including ability to implement change and manage multiple work teams.
  • Excellent interpersonal skills and ability to develop effective working relationships with external parties and business partners, including executive management.
  • Solid understanding of business models, bank relationships, and transaction processes.
  • Working knowledge of Wells Fargo Wholesale and Community Banking lines of business.
  • BA/BS degree or higher in one of the following; Criminal Justice, Business or Finance.