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Corporate Risk provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, this group 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.
Wells Fargo’s Consumer Lending / Payments, Virtual Solutions & Innovation (CL/PVSI) is an industry leader in supporting homeowners and consumers. We put customers at the center of all that we do. We make every decision - and design every product and service - with our customers in mind. If it’s not good for our customers, then it’s not good for Wells Fargo. The CL/PVSI team includes our home mortgage, home equity, consumer credit card, personal loans and lines, direct auto, dealer services and commercial auto, retail services, and education financial services businesses.
Our CL/PVSI Cross-Group Operational Risk Credit Bureau Team (CG CBT) drives and supports CL/PVSI group-wide operational risk initiatives. CG CBT also partners with Corporate Operational Risk on corporate-wide work efforts and provides functional leadership and guidance across CL/PVSI on operational risk strategies, programs, and issues.
This Operational Risk Consultant 5 will be responsible for managing a team of data experts focused on data quality standards and improvements in the area of Wells Fargo customer account data being reported to the national Consumer Reporting Agencies (CRAs) – Equifax, Experian, Innovis, and Trans Union. This position will:
- Actively manage testing and sampling functions that ensure Wells Fargo data meets the highest quality standards and supports the COE System of Record Reporting (SOR) Team.
- Manage team members who perform regular Metro2 Scenario testing across all systems of record.
- Provide direction to team members who will perform reviews of accounts pre- & post- Commitment to Customer (C2C) remediation efforts specific to credit bureau reporting.
- Define and establish controls to ensure remediation efforts are complete and of quality, to include developing a regular calendar of review for completed items determining data errors post resolution.
- Incorporate regular updates with SOR Reporting Team, Governance, Standards / Practices, and C2C COE Teams, detailing quality of remediation efforts
- Manage and support the SOR Reporting Team with regular reporting of data volumes, rejects, and trends.
- Work with the SOR Reporting Team to ensure key KPIs and KRIs are reported on dashboards and information is actionable and supports management of risks relative to account reporting.
- Work with the Credit Bureau Program Oversight Team to ensure regular reporting, review, and formalized action plans relative to risk management and reporting of risk boundaries and thresholds.
- Ensure alignment with broader Wells Fargo KPI program.
- Be responsible for the successful cross training of team members to ensure bench strength of data quality experts.
This role will help to ensure Wells Fargo has a best in class credit bureau management program, and will have exposure to senior risk management, including the Credit Bureau Steering Committee and mid-line management.
Specifically this individual will have and provide data, technical, and testing expertise, lead through influence, and drive execution of the following:
- Strategy Development and Implementation: Partner with technology, business lines, and Corporate Risk to develop and execute a data quality program and proactively identify best practices and functions as a COE that help mitigate risk.
- Risk Mitigation: Analyze account reporting scenarios and account data to understand / mitigate root causes of credit bureau reporting issues and improve overall data quality. Leverage systems, processes, and applicable policies to identify potential problems and opportunities and implement effective, consistent, and sustainable solutions.
- Analysis and Risk Identification: Work with technology and business risk teams relative to account management policies and protocols that may be contributing to reporting risks. Review and provide recommendations to effectively mitigate the root causes of credit reporting and quality issues.
- Data and Reporting: Provide insightful analysis and reporting to the COE SOR Reporting Team, and the PVSI/CLG Senior and Executive leadership for the Credit Bureau Program. Provide key risk indicators and factors that contribute to risks and inconsistencies. Review boundary and threshold standards and set appropriate ranges that ensure the highest possible data quality for Wells Fargo customer data. Present action plans to limit and/or eliminate material risks. Simplify the complex.
- Facilitate sharing of best practices and communication: Develop relationships across multiple organizations. Identify and share best practices with business partners across the Wells Fargo Enterprise and PVSI/CLG business units. Lead meetings with PVSI/CLG Business and Compliance Leaders to discuss Data Quality program strategies, issues, mitigating controls, and cost effective solutions using a risk-based approach.
Preferred locations are: San Francisco, CA - West Des Moines, IA - Charlotte, NC - Concord, CA - Minneapolis, MN; however all locations in the Wells Fargo footprint will be considered.
- 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
- 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
Other Desired Qualifications
Beyond demonstrated experience, the right personal style and attitude are critical to success in this role.
- 10+ years hands on experience with consumer credit data, specifically the reporting and/or testing of account information
- Recent (within last two years) demonstrated experience with various systems of record (e.g. FDR, Black Knight), solid understanding of CDIA Reference Guide, Metro2 Reporting Requirements, and FCRA requirements relative to data furnishers / reporters
- Experience with data management and analysis tools such as SAS, SQL, and/or Tableau in order to manage the daily functions of the Data Quality Team and to provide analysis of data quality issues
- Successful track record providing advice and counsel to management on significant initiatives to improve data quality
- Ability to communicate powerfully and prolifically to senior leaders and simplify the complex
- Ability to influence without direct authority, create and manage large-scale change (while achieving results), and influence people at all levels of the organization
- Demonstrated ability to execute effectively in a matrixed organization and develop partnerships with many business and functional areas
- Subject matter expert in credit data, reporting, and/or testing
- 4+ years demonstrated ability to build and maintain strong work teams, including annual goals and professional development opportunities
- Ability to create and maintain relationships with key stakeholder groups including executive management, regulatory examiners, and internal auditors
- BA/BS in Business, Analysis, Technology, or related field
- Certification in related risk field
- Master’s degree in Business or related field
- Ability to travel up to 20% of the time
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.