Operational Risk Consultant 4 - CRMP

  • Company: Wells Fargo
  • Location: Charlotte, North Carolina
  • Posted: March 26, 2017
  • Reference ID: 5320280-1
Job Description

The Wells Fargo Investment Portfolio (“IP”) comprises public and private investments for Principal Investments (“PI”) and public investments for Treasury Investments (“TI”). With dual reporting to Wholesale (PI) and Treasury (TI), IP manages the portfolio of AFS and HTM investments

Principal Investments, a division of Wholesale Banking, is responsible for the evaluation of credit-driven investment opportunities across a broad spectrum of asset classes. With a view towards long term holds, PI focuses on relative risk/reward by purchasing (and selling) at prices that enhance shareholder value and improve Wells Fargo’s risk adjusted return on capital. As an extension of Wholesale’s lending platform, PI applies the same depth of credit due diligence that other Wholesale lending divisions have historically applied to loan products. Accordingly, each investment is underwritten from the bottom up with thorough credit, structural, and legal analysis then monitored continuously until final repayment of principal

Treasury Investments (TI), a division of Corporate Finance, is responsible for maintaining a portfolio of fixed income investments to achieve liquidity, interest rate risk management, and capital management objectives on behalf of Corporate ALCO. TI invests in high quality, highly liquid and readily marketable securities that are primarily U.S. Treasury and government agency securities. Other investment asset classes include corporate bonds, municipal bonds, asset-backed and commercial mortgage-backed securities. With a view towards longer term investing, TI’s asset appetite is discretionary at the direction of ALCO to deploy a portion of the Company’s excess deposits in a safe and sound manner. TI relies on Principal Investments (PI) to analyze and monitor most credit sensitive individual investments.

This position is within the Investment Portfolio Operational Risk Management Group which is responsible for the development and management of the operational risk platform supporting the Investment Portfolio business under Wholesale Banking.

This individual will be responsible for the following:

  • Assist in the management and execution of the Corporate Risk Management Programs across the Investment Portfolio for Third Party Risk Management; Business Continuity; Fraud Risk Management; Payment Systems Risk Management; Records Management; and Privacy.
  • Develop, implement, and monitor a risk-based program to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency, specific to the aforementioned Corporate Risk Management Programs.
  • Work with complex business units and provide operational risk expertise and consulting for projects and initiatives with high risk, generally spanning multiple business lines.
  • 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.
  • Assign risk ratings consistent with established policy standards; may also participate in the development of risk ratings.
  • Report findings and develop business cases to influence senior management on the need for controls to mitigate risk.
  • Assist in the production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies.
  • Consult with businesses to develop corrective action plans and effectively manage change.

This position requires an understanding of the business lines; ability to develop a cross-functional knowledge of risk responsibilities to gain a deep understanding of the IP framework, as well as specific internal corporate requirements.

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 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.

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

  • Ability to interact with all levels of an organization
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy

Other Desired Qualifications
  • Working knowledge of Enterprise and Wholesale policies and procedures.

  • Experience collaborating with cross-organizational groups and functions, including technology, corporate real estate, etc.

  • Strong understanding of expected controls (e.g. market, credit, finance, compliance, operations) across a variety of complex businesses

  • 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 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 operational risk processes, and the systems necessary to support the IP operational risk program (e.g. RCSA, CICAT, ILD, ORR, WAM, TRIMS, etc.)

  • Proven ability and experience in being able to look at the big picture across a risk program and implement successful strategy and solutions

  • Ability to adapt to changing and competing priorities

  • Ability to effectively multi-task and successfully work on several unrelated projects at the same time

  • 4 year BS/BA degree

  • Ability to demonstrate excellent interpersonal communication skills and experience in articulation of risks both verbally and in writing to various levels of staff and management

  • Ability to synthesize data from a variety of sources and deliver results quickly

  • Must be able to think strategically, lead the implementation of cutting-edge processes, systems and change initiatives to meet the divisions analytical and reporting needs

  • Computer proficiency including databases, and an understanding of banking systems and software

  • Ability to work both independently and collaboratively as part of a team within the Operational Risk Group and with senior line of business associates and other support partners

  • This position will be based in Charlotte


    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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