About this role:Wells Fargo is seeking a Senior Lead Compliance Officer to perform as the Senior Lead Business Line Compliance Officer for Public Finance Investment Banking within the Municipal Products Group in the Corporate and Investment Bank ("CIB"), including coverage of rules issued by the Municipal Securities Rulemaking Board, as well as applicable rules and regulations issued by the Securities and Exchange Commission, Financial Institutions Regulatory Authority, and Office of the Comptroller of the Currency, as they relate to business activities conducted by Public Finance ("Applicable Rules"). This position will also act as the subject matter expert for political "pay to play" related topics (political contributions, gift and entertainment, procurement lobbying) for CIB. This role will act as team lead directing the day-to-day activities of one Lead Compliance Officer
In this role, you will:- Provide oversight and governance of the Public Finance Investment Banking business.
- Establish, implement, and maintain risk standards and programs to drive compliance with federal, state, agency, legal and regulatory and Corporate Policy requirements.
- Oversee Public Finance's execution and challenges appropriately on compliance related decisions.
- Develop, oversee, and provide independent credible challenge to standards with subject matter expertise
- Work with Public Finance, a complex business unit, on rules and regulations on all compliance matters, including moderate to high-risk compliance matters.
- Monitor and independently challenge the reporting, escalation, and timely remediation of issues, deficiencies, or regulatory matters regarding compliance risk management.
- Provide direction to the Public Finance business on developing corrective action plans and effectively managing regulatory change.
- Develop, oversee, and provide expert business and regulatory compliance functional knowledge
- Provide regulatory compliance risk expertise and consulting for projects and initiatives with high risk over the Public Finance business.
- Provide regulatory compliance risk expertise for political "pay to play" across CIB.
- Identify and recommend opportunities for process improvement and risk control development.
- Consult and engage business on developing corrective action plans and effectively managing regulatory change
- Report findings and make recommendations to management or directors and appropriate committees
- Make decisions and resolve issues to meet business objectives
- Interpret policies, procedures, and compliance requirements
- Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.
- Interface with Audit, Legal, external agencies, and regulatory bodies on risk related topics
Required Qualifications, US:- 7+ years of Compliance experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:- Experience in executing compliance programs, including regulatory change management, risk identification and assessment processes, compliance issue management, new product/business review, complaint handling, compliance monitoring and reporting, compliance training.
- Expert-level knowledge of the Applicable Rules and associated compliance programs; experience in Bank Dealer and Broker-Dealer, including MSRB, SEC and FINRA regulations.
- Understanding of the ever-evolving governance and regulatory environments as well as industry and compliance risk-related best practices.
- Strong analytical, critical thinking and problem-solving skills, coupled with an ability to translate ambiguous ideas/issues into well-defined plans/solutions with a track record for delivering results.
- Ability to lead, ensuring proper staffing and expertise, and manage the establishment of major policies and relevant compliance programs for a business division within a large and complex organization.
Job Expectations:- Oversee and credibly challenge the reporting, escalation and timely remediation of compliance-related issues, deficiencies, or regulatory matters involving Public Finance.
- Oversees the development of reporting on the state of compliance in Public Finance.
- Oversee, credibly challenge, and assess Public Finance with respect to managing and mitigating compliance risk and establish processes to ensure effective and timely implementation of regulatory change requirements applicable to the group.
- Direct the implementation of effective compliance strategies to assess key risks in Public Finance and anticipate regulatory issues; and identify opportunities to simplify and drive consistency of solutions to strengthen compliance risk management.
- Support effective coordination of compliance-related regulatory examinations in Public Finance and maintain effective relationships with all associated regulators.
- Lead and actively participate as a key member and compliance representative on various Public Finance-based governance committees.
- Foster an environment that ensures strong communication and cooperation across the three lines of defense, including business line leadership, Legal, Audit, Compliance, and other corporate stakeholders to facilitate transparency, balance, and credible challenge.
- Sustain a strong risk culture that identifies and provides oversight and escalation of existing and emerging compliance issues in Public Finance; and ensure that escalated compliance issues receive immediate senior management attention.
- This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
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.
$144,400.00 - $300,000.00
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:15 Dec 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 .
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