Regulatory Compliance Risk Management (RCRM), Wells Fargo’s regulatory compliance second line of defense function, provides company-wide leadership, standards, support, and independent oversight to ensure that all business groups abide by applicable laws, rules, regulations and regulatory guidance (regulatory requirements), meet regulatory compliance responsibilities, and manage regulatory compliance risks. RCRM credibly challenges management decisions, business processes and activities, and evaluates and assesses adherence to applicable regulatory requirements. It provides appropriate analysis, reporting, and escalation to senior management and the Board of Directors, sets minimum standards for the company, and gives advice, guidance, and support for regulatory compliance risk management activities across the enterprise.
The Third Party Oversight/Business Process Risk Management (BPRM) team is responsible for oversight of laws, rules and regulations related to Third Party Oversight that affect or impact more than one line of business (LOB), and coordinating RCRM-Consumer’s BPRM activities. This newly created team works closely with other RCRM functions.
Wells Fargo’s RCRM group is seeking a highly motivated individual for its third party compliance assessment team. RCRM partners with various groups and LOB risk and compliance functions to perform its oversight function effectively. This role is responsible for conducting assessments/reviews of enterprise third party engagements in accordance with assigned laws, rules, regulations and regulatory guidance, and ensuring appropriate identification, reporting, escalation, and resolution of issues. These assessments are a critical new component of the enterprise third party compliance oversight program.
- Ensuring assessments meet or exceed established regulatory requirements and expectations across multiple regulators, including the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the Federal Reserve
- Effectively partnering with LOB Engagement, Relationship, and Compliance Managers to assess risks within their respective third parties’ engagements
- Maintaining an awareness of Third Party Oversight regulatory requirements
- Assuring Enterprise Third Party Risk Management Program (TPRM) compliance with applicable regulatory and internal policy requirements
- Appropriately identifying, escalating and addressing issues, when necessary
- Providing guidance and credible challenge for assigned regulatory compliance risk management activities
- Providing oversight and guidance for LOB third party regulatory compliance risk management activities by performing consistent, enterprise-wide third party assessments of the associated activities of third party engagements
- Using Corporate Risk tools and reporting to conduct risk assessments and analysis
- Participating in or leading cross-business initiatives to ensure successful implementation of applicable regulatory changes or other required action plans
- Building strong partnerships and collaborating effectively with TPRM, Group Third Party Officers, Corporate Risk, Law Department, LOB partners and regulatory authorities
- Proactively promoting an inclusive and collaborative work environment
- Building and continuously enhancing team knowledge and understanding of regulatory requirements impacting third parties
- 2+ 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
- 2+ years of experience in one or a combination of the following: additional compliance, additional operational risk management, IT systems security, business process management or financial services industry experience; or a BS/BA degree or higher in business or a related field
- Intermediate 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
Other Desired Qualifications
- Expertise in consumer banking regulations
- Experience in Third Party oversight regulations.
- Previous regulatory or compliance experience in financial services.
- Ability to operate in a complex and matrixed environment
- Ability to multi-task and meet deadlines despite competing priorities
- Ability to respond quickly to changing job demands
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.