About this role:Wells Fargo is seeking an Independent Testing Specialist in Independent Testing & Validation (IT&V) as part of Corporate Risk. Learn more about the career areas and lines of business at wellsfargojobs.com .
The Independent Testing & Validation team is responsible for the development and design of methodologies and standards for review activities across the Enterprise in alignment with the Risk Management Framework and ensuring effective and appropriate testing, validation, and documentation of review activities for risk programs, risks, and controls according to standards and other applicable policies.
The Regulatory Reporting Incremental Compliance (RRIC) team within Independent Testing & Validation. RRIC is a centralized team, operates as a second line of defense over the regulatory and risk report production processes subject to BCBS 239 requirements. The team is an integral part of the Company's control environment and provides credible challenge to relevant participants in the reporting processes. RRIC has enterprise-wide exposure to lines of business, regulatory and risk reporting stakeholders as well as the external financial reporting and regulatory reporting infrastructures and frequently coordinates with internal audit.
In this role, you will:- Participate in less complex development and design of methodologies and standards for review activities companywide in alignment with the risk management framework.
- Ensure effective and appropriate testing, validation, and documentation of review activities for risk programs, risks, and controls according to standards and other applicable policies within Independent Testing.
- Support and implement less complex initiatives with low to moderate risk and exercise independent judgment to guide risk reporting, escalation, and resolution.
- Present recommendations for resolving more complex situations and exercise independent judgment while developing expertise in risk management framework and the risk and control environment.
- Collaborate and consult with colleagues, internal partners and management.
- Executing substantive testing including end-to-end transaction & non-transaction testing of regulatory and risk reports with supervision.
- Documenting test results and timely escalation of exceptions identified.
- Providing credible challenge to the First Line Units as needed.
- Acting as a change agent for continual improvement of the control environment.
The successful candidate will be a team player and a self-starter who is accustomed to working in complex organizations, partnering with a diverse group of stakeholders, and achieving results. Candidates with experience in preparing or reviewing regulatory returns including capital adequacy, liquidity coverage, recovery planning etc. are encouraged to apply.
Required Qualifications:- 2+ years of Independent Testing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Desired Qualifications:- 2+ years of relevant experience in regulatory reporting and risk management (includes compliance, financial crimes, operational risk, internal audit, legal, credit risk, market risk, business process management) or 2+ years of financial services industry experience.
- 2+ years direct experience in regulatory reporting and testing.
- Knowledge and understanding of financial services industry: compliance, risk management, or audit operations.
- A BS/BA degree or higher in one or a combination of the following: Finance, Accounting, Analytics, or Reporting.
- Big four public accounting experience.
- A Master of Business Administration (MBA) or a Certified Public Accountant (CPA) designation.
- Knowledge and understanding of regulatory reporting e.g. Federal Reserve, Financial Conduct Authority, OCC, SEC etc.
- Knowledge and understanding of regulatory compliance requirements surrounding SOX Sarbanes-Oxley Act.
- Ability to take on a high level of responsibility, initiative, and accountability.
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
- Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important.
- Specialized knowledge or prior regulatory compliance testing or review experience.
- Experience reviewing testing strategies and methodologies; evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls; and identifying issues resulting from internal and/or external compliance examinations.
- Experience creating, executing, and documenting compliance, control, and business process testing.
- Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint).
- Experience supporting Regulatory Exams (Domestic and Int'l), Audits, or other regulatory reporting related assessments.
- Strong critical thinking skills with ability to credibly challenge status quo.
- Strong organization and prioritization skills.
- Strong relationship management skills: ability to negotiate difficult positions without harming relationships.
Job Expectations:- This position is not eligible for Visa sponsorship.
- This position offers a hybrid work schedule.
- Willingness to work on-site at stated location on the job opening.
Posting Locations:
- 401 S Tryon Street - Charlotte, NC
- 11625 N Community House Road - Charlotte, NC
- 600 S 4th Street, Minneapolis, MN
- 1N Jefferson Avenue - St Louis, MO
- 800 S Jordan Creek Pkwy, West Des Moines, IA
- 1150 W Washington Street, Tempe, AZ
- 250 E John Carpenter Freeway, Irving, TX
Pay RangeReflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.
$63,600.00 - $113,000.00
Benefits Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
- Health benefits
- 401(k) Plan
- Paid time off
- Disability benefits
- Life insurance, critical illness insurance, and accident insurance
- Parental leave
- Critical caregiving leave
- Discounts and savings
- Commuter benefits
- Tuition reimbursement
- Scholarships for dependent children
- Adoption reimbursement
Posting End Date:13 Oct 2024
* Job posting may come down early due to volume of applicants. We Value DiversityAt Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees 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.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with DisabilitiesTo request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol PolicyWells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.