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.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our nine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
This position is within the Wells Fargo Securities (“WFS”) Operational Risk Management Group which is responsible for the development and management of the operational risk platform supporting Macro (including FX), Spread, Municipals, Funding, Capital and Liquidity (FCL), and Operations across bank and broker-dealer entities. The FX Product Risk Officer will lead the FX operational risk program which requires a deep understanding of the FX business, trading systems, processes, and operations in addition to the principles of operational risk management as prescribed by the Basel Committee.
Specific responsibilities include:
- Establishing a cross-functional knowledge of risk responsibilities within supported line of business to gain a deep understanding of the Wells Fargo Securities operational risk framework, as well as specific internal corporate requirements.
- Developing and maintaining the Risk and Control Self-Assessment (RCSA): Updating risk and control assessment ratings and supporting information, collection of metrics and establishing a quarterly forum to evidence management validation and attestation to RCSA.
- Supporting Business Process Risk Management (BPRM): establish/maintain process maps, definitions of risk and controls, and coordination with corporate testing and validation.
- Incident Management and loss capture: Document and assess operational risk incidents using methods such as root cause analysis, consult with business to develop corrective action plans. Oversee implementation progress and conduct validation efforts as required. Coordinate with business and support partners for creation of Self-Disclosed issues in IM system of record. Record losses in the system of record as applicable.
- Management reporting: establish and update regular risk reports for communication of risk ratings, issues and key topics.
- Coordination with regulatory and internal review engagements such as exams, testing & validation, and internal audit
- Work with the business and support teams to provide operational risk expertise and consulting for projects and platform initiatives with high risk, generally spanning multiple lines of business.
- Work with WFS Operational Risk team to ensure requirements of the corporate risk management programs (CRMPs) are appropriately communicated to and met by the line of business.
- Conduct risk assessments to evaluate the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyze business and/or system changes to determine impact, identify and assess operational risk issues.
- Report risk assessment findings and develop business cases to influence control owners and business sponsors on the need for additional or improved controls to mitigate risk.
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 all 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.
- 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
- 5+ years of management experience
- Advanced Microsoft Office skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to articulate complex concepts in a clear manner
Other Desired Qualifications
- Understanding of foreign exchange products and associated processes, including a strong understanding of expected controls
- Knowledge and a broad background in evaluating, measuring and managing financial and reputation risk arising from securities transactions, brokerage, fiduciary businesses and related operations
- Proven ability to analyze data and raise potential risks to management
- Ability to demonstrate strong organizational skills, attention to detail, and adherence to strict deadlines in a fast paced environment
- Strong management reporting skills, ability to translate data into actionable information. Consulting and business process engineering capabilities preferred
- Strong communication, negotiation, and collaboration skills, including the ability to negotiate with numerous parties and reach agreeable solutions
- Prior success in working and communicating with senior level executives
- Experience with Wells Fargo’s corporate organizational structure, the WFS operational risk processes, and the systems necessary to support the WFS operational risk program (e.g. SHRP, BPRM, ILD, etc.)
- Proven understanding of securities industry rules and an ability to apply that knowledge
- Proven ability and experience in being able to look at the big picture across a risk program and implement successful strategy and solutions
- 4 year BS/BA degree or equivalent experience