About this role:Wells Fargo is seeking a
Senior Lead Compliance Officer to serve as a
Business Aligned Compliance Officer (BACO) for
Credit Risk Businesses under the
Chief Credit Risk officer, including the
Commercial Credit Workout group.
The remit of this role is specialized and requires expertise on applicable regulations.
Given the diverse businesses and product base, hundreds of Major Compliance Requirements (MCRs) are applicable to these businesses and will assess the risk presented by regulations/MCR for these businesses. This role is responsible for execution of the Compliance Program involving risk identification and assessment, program support/advisory services, and other compliance program functional requirements including Risk and Control Self-Assessment (RCSA) routines, issues management, monitoring, credible challenge of controls, procedures, etc., new business initiatives, product assessment and other program requirements. This role may also participate in special projects supporting the team.
Learn more about the career areas and lines of business at wellsfargojobs.com
In this role, you will:- Provide oversight and governance of a business group
- Establish, implement and maintain risk standards and programs to drive compliance with federal, state, agency, legal and regulatory and Corporate Policy requirements
- Oversee the Front Line's execution and challenges appropriately on compliance related decisions
- Develop, oversee, and provide independent credible challenge to standards with subject matter expertise
- Work with complex business units, rules and regulations compliance matters
- Monitor and independently challenge the reporting, escalation, and timely remediation of issues, deficiencies, and/or regulatory matters regarding compliance risk management
- Provide direction to the 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 multiple business lines
- 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 senior leaders
- Make decisions and resolve issues to meet business objectives
- Interpret policies, procedures, and compliance requirements
- Conduct review of controls, procedures, monitoring activities and associated Compliance Program administrative routines
- Interface and Partner with Operational Risk Business Oversight (ORBO), Legal, Audit, Regulatory Relations, other BACOs, Risk Coverage Teams (RCT), etc.
Required Qualifications:- 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 thinking critically, prioritizing and working effectively and independently in a fast-paced, changing environment
- Strong analytical skills with high attention to detail and accuracy
- Experience providing advice and counsel to senior management on significant initiatives to improve risk management and internal controls
- Excellent verbal, written, and interpersonal communication skills, including the ability to articulate complex concepts in a clear manner across all levels of the organization
- Ability to build and maintain credible relationships with key stakeholder groups including executive management t and internal auditors
- Expert knowledge and understanding of regulatory compliance requirements impacting Credit Risk businesses including (but not limited to) Bankruptcy, Reg B, REO DPC, SCRA, Reg W, Flood, QFCs, BSA-Treasury, and OFAC
- A master's degree, Certified Regulatory Compliance Manager (CRCM), Juris Doctorate (JD) or another relevant industry designation
Job Expectations:- Ability to travel up to 15% of the time
- This position offers a hybrid work schedule
- Willingness to work onsite at stated location on the job posting.
- This position is not eligible for VISA sponsorship
Posting End Date: 17 Nov 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.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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.
