Compliance Consultant 4 - Program Oversight Issue Validation

Job Description

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through more than 8,600 locations, 13,000 ATMs, online (, and mobile devices.

We’re headquartered in San Francisco, but we’re decentralized so every local Wells Fargo branch is a headquarters for satisfying our customers’ financial needs and helping them succeed financially. We do business with 70 million customers and one in three U.S. households. Wells Fargo has approximately 268,000 team members in 36 countries and territories across our more than 90 businesses.

Our vision: “We want to satisfy our customers’ financial needs and help them succeed financially.”

Corporate Risk

Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk areas including credit risk, operational risk, market risk, strategic risk, and compliance risk. Corporate Risk strives to ensure that all Wells Fargo corporate functions and lines of business soundly manage risk, comply with applicable laws and regulations, and offer products and services that meet the needs of our customers. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, Corporate Risk provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

Operational Risk & Compliance Testing and Validation Center of Excellence (T&V COE)

Within Operational Risk and Compliance, this group provides an independent oversight function within the second line of defense, establishing and maintaining a consolidated Testing & Validation COE at the corporate level. They are responsible for developing a common methodology and standards, providing governance and oversight, executing testing, and conducting horizontal reviews. Testing and validation teams throughout corporate risk will be responsible for implementing the T&V COE methodology and standards, and executing group-specific testing.

The Compliance Monitoring and Testing (M&T) team, a part of the T&V COE, has responsibility for executing independent compliance monitoring and testing plans across a broad spectrum of risks (e.g., consumer protection, bank and securities rules and regulations, internal policies and forensic reviews requested by senior management) across the company.

The Regulatory Compliance Consultant –Program Oversight Monitoring and Testing team member is responsible for performing compliance review activities and quality assurance activities within Community Banking, Consumer Lending, Payments, Virtual Solutions and Innovations, and the Corporate Staff Group. This includes performing independent compliance monitoring and testing activities, end-to-end process and control reviews/assessments, and enterprise-wide reviews for key regulations that evaluate the adequacy, comprehensiveness and effectiveness of business compliance programs. Additionally, this role is responsible for evaluating RCRM’s adherence to applicable internal policy requirements. He or she will be responsible for completing reviews as well as identifying issues, determining corrective actions, writing and editing reports, and tracking timely corrective actions. He or she will demonstrate subject matter expertise in compliance M&T programs and related processes and methodologies, effective internal controls and other risk mitigation strategies, and be proficient in performing audit reviews and/or independent compliance monitoring and testing activities and compliance risk assessments. This role will report directly to the RCRM Consumer M&T Program Oversight Manager.

Specific duties for this position include, but are not limited to:

  • Plan and perform compliance related review activity assessments that independently evaluate the adequacy, comprehensiveness and effectiveness of Consumer LOB compliance monitoring and testing functions
  • Assist team members in managing reviews, project management, and documentation management
  • Periodically, or on an as-needed basis, evaluate RCRM’s adherence to applicable internal policy requirements
  • Work collaboratively with internal and external stakeholders
  • Identify deficiencies and recommend solutions to complex issues
  • Work with Group/LOB compliance risk management teams to agree on corrective actions to strengthen monitoring and testing programs
  • Ensure identified deficiencies are promptly addressed and effectively resolved
  • Write reports or presentations that clearly articulate the results/conclusions of compliance review activities and communicate to key stakeholders across the company
  • Lead or assist in investigating and reporting issues, as needed, conducting inquires, obtaining and reviewing necessary documents and interviewing personnel, as appropriate
  • Assist on compliance projects
  • Maintain an understanding of the RCRM Framework and the interconnectivity of its key components
  • Maintain an understanding of business operations and regulatory guidance/expectations
  • Anticipate changes in the internal and external environment and adapt the testing program accordingly
  • Work with senior management, Law Department and other key constituencies to encourage, promote and enhance a culture that encourages ethical conduct and a commitment to compliance with applicable laws and regulations
  • Ensure proper and effective communication (including developing reporting) is in place
  • As appropriate, assist with the management of regulatory examinations and internal audits of assigned activities
  • Present results to the Chief Compliance Officer, Testing & Validation Director and other senior executives
  • As appropriate, respond to regulatory inquiries
  • As appropriate, assist with the development of training materials
  • Work collaboratively across groups/LOBs and with other risk management teams
  • Develop effective working relationships will team members while distinguishing self as a leader
Required Qualifications

  • 6+ 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 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both

Desired Qualifications

  • 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
  • Ability to work and influence successfully within a matrix environment and build effective business partnerships with all levels of team members
  • Ability to take initiative and work independently with minimal supervision in a structured environment
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
  • Ability to articulate issues, risks, and proposed solutions to various levels of staff and management
  • Advanced Microsoft Office (Word, Excel, Outlook, PowerPoint, Access, and Project) skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy

Other Desired Qualifications
  • Mortgage background
  • CRCM certification
  • Experience with overseeing projects/work flow across a global institution
  • Master’s or Law Degree preferred
  • Experience with a global financial institution or Big 4 accounting firm
  • Experience with Wells Fargo internal risk systems such as CRAS, CICAT/SHRP, and ORIS is preferred, but not required.
  • RCRM Hubs are the preferred work locations - Charlotte, NC (primary); San Francisco, CA; Dallas, TX; San Antonio, TX; New York, NY; Des Moines, IA; Minneapolis, MN; Chandler, AZ.

    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.

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