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Operational Risk Consultant 3 - Wholesale Know Your Customer Onboarding and Periodic Review
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. 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.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
- Responsible for developing, implementing and monitoring a risk-based program to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency.
- May provide oversight to an operational risk program.
- Works with assigned business units and provides operational risk expertise and consulting for projects and initiatives with moderate to high risk.
- May provide senior-level support for systems security-related issues.
- Develops testing strategies and methodologies; evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyzes business and/or systems changes to determine impact; identifies and assesses operational risk issues and assigns risk ratings consistent with established policy standards.
- Consults with business to develop corrective action plans and effectively manage change.
- Identifies training opportunities; may design/coordinate the development of training materials and delivers training.
- Reports findings and drafts recommendations to mitigate risk to operational risk and business line management.
- Coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies.
- May manage project teams and provide guidance to less experience specialists/consultants.
- Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate to high level of complexity and risk to determine appropriateness for Wells Fargo
- Conducts comprehensive research or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, financial crime, and reputational risks and thoroughly documenting findings
- Reviews and analyzes due diligence data for accuracy from a variety of sources; investigates discrepancies
- Performs screening on customers against various regulatory reporting lists and regionally based sanctions watch lists and escalates identified risks appropriately
- Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations
- Communicates findings and provides appropriate direction to senior management, Wholesale Businesses and supplies guidance for course of action
- Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bank
- Evaluates the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls
- Participates in moderate to complex project initiatives as the primary subject matter expert
Team members 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.
Other Desired Qualifications
- Working knowledge of BSA/AML programs including KYC, CDD, EDD, CIP and / or other related risk and regulatory disciplines
AZ-PHX-Central Phoenix: 100 W Washington St - Phoenix, AZ
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.