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Compliance Manager 4 - Consumer Banking and PVSI Financial Crimes Risk Control Testing Manager
at Wells Fargo
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. We value and promote diversity and inclusion in all aspects of business and at all levels. Success comes from inviting and incorporating diverse perspectives.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.
**Please note that posting duration may be shortened based on job seeker volume.**
Wells Fargo Compliance is the company’s compliance second line of defense function, providing company-wide leadership, standards, support, and independent oversight to ensure that all business groups abide by applicable laws, rules, regulations and regulatory guidance (regulatory requirements), meet compliance responsibilities, and manage compliance risks. Wells Fargo Compliance credibly challenges management decisions, business processes and activities, and evaluates and assesses adherence to applicable regulatory requirements. It provides appropriate analysis, reporting, and escalation to senior management and the Board of Directors, sets minimum standards for the company, and gives advice, guidance, and support for compliance risk management activities across the enterprise.
Within Wells Fargo Compliance, the Enterprise Testing group is responsible for establishing and maintaining a consolidated Enterprise Testing program at the corporate level. Consumer Banking and Payments, Virtual Solutions and Innovation (PVSI) Testing and Validation (CB and PVSI T&V), which is part of Enterprise Testing, is responsible for testing and validation activities across multiple risk disciplines across all businesses in the Consumer Bank and PVSI, except for Home Lending.
This leader will be accountable for developing and executing all aspects of independent Financial Crimes risk (BSA/AML) control testing for Consumer Banking and PVSI, except Home Lending. Major businesses covered include, but not limited to, Regional Banking, Virtual Channels (Contact Centers and Digital), Small Business Lending, Auto, Credit Cards, Personal Lines and Loans, Treasury Management, Merchant Services, and the Deposit Products Group. Financial Crimes testing includes testing for compliance with BSA/AML, OFAC, Anti-Bribery and Corruption, and Fraud policy requirements.
Strong business acumen and substantial experience in supporting Financial Crimes (BSA/AML, OFAC, etc.) will be determining factor in selection. Successful candidates will be articulate, thought leaders, and possess demonstrated leadership capability; they will be impressive in their inter-personal effectiveness, with regard to their accomplishments, and with a proven ability to engage and influence executive management, senior leaders, and business and risk teams.
Specific Job Responsibilities:
- Lead a team that plans and executes Financial Crimes risk (BSA/AML, OFAC, etc.) control testing. Accountable for conducting end-to-end business process walkthroughs, identifying risks and primary and compensating controls, evaluating control design, and testing the effectiveness of manual and automated controls.
- Accountable for assessing the universe of Risk Assessable Units (RAUs) in the business related to financial crimes and providing effective challenge to business and risk and compliance partners when risks, Major Requirements (MRs), and operational controls are missing, inadequate, or ineffective.
- Develop the Consumer Banking and PVSI Financial Crimes review and validation schedule and manage engagements to planned dates, resources, and hours. Anticipate changes in the internal and external environment and adapt the testing program of the team accordingly.
- Management responsibilities include sourcing and hiring talented team members, providing ongoing performance feedback and coaching, recognizing and developing team members with stretch assignments, and completing daily management tasks.
- Supervise the testing teams throughout the life cycle of the review activities to provide ongoing guidance on scope, sampling, testing approach, issues, work papers, quality reviews, etc.
- Develop relationships with the business and implement an effective engagement model for the team and business. Partner with legal, the Financial Crimes team, and business partners to stay tuned with ongoing business process changes, regulatory expectations, customer feedback, etc.
- Improve bench strength of the team. Develop subject matter expertise within the team of all the major products, services, and processes in the businesses and develop a thorough understanding of how Financial Crimes (BSA/AML, OFAC, etc.) laws and regulations, regulatory guidance, and related policies and procedures apply to the businesses covered.
- Elevate the team’s quality of work performed. Review quality assurance feedback and take appropriate actions to address areas requiring attention.
- Identify continuous improvement opportunities, and implement routines to drive effectiveness and efficiency. Partner with other Products teams to drive synergies across the broader team.
- Influence line of business and control executive teams to resolve issues, develop sound corrective actions, and strengthen internal controls.
- Stay abreast of management’s plans to address corrective actions and work with the validation team to understand and assess residual risks.
- Write reports that clearly articulate work performed and summarize testing results to business leadership, executive management, and the board.
- As needed, present work performed to audit, regulators, and other business partners.
As a Team Member Manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
- Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
- Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
Preferred location(s): Charlotte (NC), Des Moines (IA), Phoenix (AZ), Minneapolis (MN). Open to other locations within the Wells Fargo footprint.
Other Desired Qualifications
- Virtual leadership experience with ability to effectively drive results, provide feedback/direction, and manage and build relationships with leaders and team members in a geographically dispersed team environment
- 7+ years of financial crimes experience
- Certified Anti Money Laundering Specialist (CAMS)
- Demonstrated ability to drive change in an environment that is highly dynamic and complex
- Financial Crimes control testing experience is preferred
- 7 years in Financial Crimes (BSA/AML, OFAC, etc.) with experience either in Audit, Risk and/or Compliance.
AZ-PHX-Central Phoenix: 100 W Washington St - Phoenix, AZ
MN-Minneapolis: 550 South 4th St - Minneapolis, MN
NC-Charlotte: 301 S Tryon St - Charlotte, NC
IA-Des Moines: 800 Walnut St - Des Moines, IA
CORP RISK/CORPORATE RISK
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.