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Compliance Manager 4 - Leader of Products Specialty Testing and Validation
at Wells Fargo
At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. 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.
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.
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.
This leader will be accountable for developing and executing all aspects of independent operational and compliance risk control testing for a new team that will focus on centrally testing controls that lend themselves to horizontal testing. Testing by this team will include: Service member Civil Relief Act (SCRA), Military Lending Act (MLA), Fair Credit Reporting Act (FCRA), and other major policy requirements and major requirements that lend themselves to centralized testing at the product level. This leader will also lead a team responsible for issue validation (for IRM) across Auto, Card and Retail Services, Customer Segments, and Treasury, Merchant Services, Payment Solutions.
Strong business acumen and experience in consumer and business financial services will be a 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.
- Lead a team that plans and executes compliance and operational risk control testing and validation. Accountable for conducting end-to-end business process walkthroughs, identifying risks and primary, key, and compensating operational and compliance controls, evaluating control design, and testing the effectiveness of manual and automated controls. Also, lead a centralized issue validation team for Products and opine on the success of corrective actions implemented.
- Accountable for assessing the universe of Risk Assessable Units (RAUs) in the business 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 team’s 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.
- Lead managers and direct a team of 25 plus FTE. 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, compliance, 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 line of business and develop a thorough understanding of the laws and regulations, regulatory guidance, and policies and procedures of the functions reviewed.
- 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.
Other Desired Qualifications
- CIA, CRCM, or CPA
- At least 10 years in Audit, Risk and/or Compliance testing operational and compliance controls
- Comfortable driving change in an environment that is highly dynamic and complex
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.