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Legal Entity Risk and Control Manager (Operational Risk Manager 4)

Company: Wells Fargo
Location: Saint Louis
Posted on: June 15, 2019

Job Description:

Job Description
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 four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution. The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale. The Wholesale Control organization is comprised of a series of risk and control teams including: (1) Business Control teams managing risk and controls for each of the Wholesale businesses; (2) Risk Operations teams managing risk-type programs (e.g. regulatory, financial crimes, operational risk, conduct) and associated controls and operations; (3) Governance & Programs teams managing cross-functional risk and controls (e.g. governance and reporting, issue management and review activities, enterprise risk programs, control assurance, etc.) spanning across risk-type programs and Wholesale businesses; (4) Functional teams supporting business enablement and infrastructure (e.g. strategic planning, process excellence, transformation, analytics, reporting and administration).The Legal Entity Risk Contact (LE Risk Contact) is accountable to support the Legal Entity Responsible Officer (LE Responsible Officer) for each Wholesale Legal Entity (LE) in making productive use of the LE risk profile to understand the role of the Legal Entity, the business conducted therein, assess associated risks/controls/issues, and certify financial reporting. The LE Risk Contact will be accountable for having a detailed understanding of the risks, controls, and issues for each LE and will leverage existing Enterprise and Wholesale-level risk reporting capabilities. Additionally, this role will be accountable for driving enhancements to the Company s risk programs, including the underlying systems and data, needed to be able to produce a meaningful risk profile by LE. The LE Risk Contact will support the LE Responsible Officer for each Wholesale LE in developing and maintaining a credible understanding of the control environment of the LE, inclusive of financial and non-financial controls, so that the LE Responsible Officer can certify financial statements for each covered LE. The LE Risk Contact is not directly responsible for financial risks and controls, but is responsible for ensuring that the certifying officer understands the risks, risk-related controls, and issues sufficient to carry out their duties.This Legal Entity Risk and Controls Manager will serve as Wholesale s primary & centralized LE Risk Contact and will be responsible for 1) the design and implementation of a programmatic functions to coordinate and govern the execution of LE Risk Contact accountabilities across Wholesale Banking, and 2) building out a broader LE & Recovery and Resolution Planning (RRP) risk & control governance capability, and 3) championing Wholesale Banking and Wholesale Control initiatives aligned to Enterprise Risk work efforts to embed LE dimension into risk systems, data, reporting, etc.This individual will have the opportunity to:

  • Design and implement a programmatic function to coordinate and govern the execution of LE Risk Contact and other LE risk related accountabilities across Wholesale Banking
  • Partner with business control managers throughout Wholesale Control to ensure and govern their execution of LE Risk Contact accountabilities for LEs predominantly leveraged by the Line of Business they cover
  • Coordinate with business control managers to drive execution of LE Risk Contact accountabilities for Wholesale LEs through which multiple lines of business operate
  • Partner with, and serve as the primary LE Risk Contact, for Corporate Risk, the Legal Entity Office, and the RRP Office to ensure consistency in approach and execution of plans to embed LE dimensions into risk systems, data, and reporting, inclusive of Wholesale input and considerations
  • Partner with BPM and Self Assurance programs to ensure effective controls are established, as applicable, at the Legal Entity level
  • Identify, design, and implement strategies to drive more effective and efficient execution of front line LE risk management within the business and control teams
  • Partner with issue owners to design and ensure implementation of controls to address outstanding LE issues within the business and control teams, including issues identified by Wells Fargo Audit Services and Regulators, as well as changing regulatory requirements within the industry ensuring the implementation of effective, sustainable programs
  • Ensure compliance with Enterprise Risk Programs (e.g. NBI, Risk Committee Governance etc)
  • Be accountable for the successful validation, audit, and regulatory inspection of the Business Control LE risk management functions in alignment with Corporate Risk and Regulatory requirements
  • Actively participate in LE strategic planning, LE risk & control capability development, organizational change management, operational excellence/process engineering, infrastructure enablement, and other required transformations to drive delivery of LE risk management and control capabilities
  • Promote and maintain a risk culture that encourages an informed, measured, disciplined, and balanced approach to understanding and managing LE risk and controls
  • Lead team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes themTeam 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
    • 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

      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 articulate complex concepts in a clear manner
      • Ability to communicate effectively, in both written and verbal formats, with senior executive-level leaders
      • Financial services industry experience

        Other Desired Qualifications
        • Proven experience designing, developing, implementing and maintaining effective risk management programs, especially risk controls, within a large complex financial services company
        • Experience in Legal Entity risk management, strategic planning, operational process engineering, operating procedures development, and enabling processes with technology and data enablement solutions
        • Ability to identify existing programs that may be ineffective or deficient from a technological, operational, and/or human capital perspective
        • Expertise with balance sheet, capital/liquidity, Reg W, and shared services interconnections across a large financial services enterprise
        • Business Process Management experience a plus

          Job Expectations
          • Ability to travel up to 25% of the time

            Disclaimer

            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.

Keywords: Wells Fargo, St. Louis , Legal Entity Risk and Control Manager (Operational Risk Manager 4), Legal , Saint Louis, Missouri

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