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Operational Risk Consultant 4 - Wholesale Control Third Party Risk

at Wells Fargo

Posted: 6/28/2019
Job Reference #: 12395670

Job Description

Job Description

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

Wholesale Control (WC) serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution.  The Wholesale Control team is accountable for assessing and effectively managing risks across all operational risk types and Wholesale businesses in order to deliver an integrated view of risks. The team is responsible for identifying and assessing key risks, designing and implementing controls, and executing and monitoring controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management (IRM) and Audit to drive the comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale. 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.

The Role

Wholesale Control Executive Office has exciting opportunities for Third Party Risk Officer and Engagement/Relationship Manager roles. The roles will provide governance and oversight for one of the Wholesale lines of businesses: Commercial Banking, Commercial Capital, Chief Operating Office, Corporate Banking and Corporate & Investment Banking. The Third Party Risk Management Program is situated in the first line of defense within the Wholesale Operational Risk Control Team. The Team is responsible for managing all risk-based third party management program activity in order 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. The team member will work with the Wholesale lines of business to provide third party risk management expertise and consultation on all aspects of third party risk. The candidate will manage, analyze and deliver third party risk performance reports for senior management, including trend analysis and recommended engagement strategies.

   Responsibilities include:

  • Serve as a Wholesale Control Third Party Officer (TPO) or Engagement/Relationship Manager supporting a Wholesale line of business
  • Establish framework for line of business to follow when engaging any third party to support the execution of strategy
  • Provide guidance and consultation on all third party responsibilities to various business partners
  • Reports findings and develops business cases to influence senior management on the need for controls to mitigate risk.
  • Conduct regularly scheduled meetings with business partner to communicate Third Party Service Provider Program requirements and procedures, share best practices,
  • Review Oversight & Monitoring and KRI reports and follow-up with stakeholders regarding open, past due or over threshold/trigger items.
  • Escalate third party incidents or related loss events to senior risk leaders
  • Document Risk Acceptances and coordinate approval process
  • Respond to audit, regulatory and IRM oversight reviews as appropriate
  • Coordinate activities across lines of business to ensure TPRM program requirements are met and best practices are followed. These activities include but are not limited to onsite supplier reviews, regular performance reviews, setting performance metrics, coordinating risk acceptance and handling issue escalation, remediating corrective actions, monitoring supplier viability and ongoing program compliance, documenting business process risks.
  • Oversees third party risk management life cycle activities and identifies new risks as business requirements evolve


Required Qualifications

  • 6+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both

Desired Qualifications

  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization

Other Desired Qualifications
  • Third Party Risk remediation activities
  • Identification and escalation of key risks related to the use a service provider
  • Establish credible challenge routines with LOBs
  • Development of  metrics and trending for oversight analysis
  • Consult and perform analysis of key performance indicators
  • Support the build out and execution of enhanced oversight processes and procedures specific to Third Party Risk Management for Wholesale lines of business
  • 5+ years of experience managing Third Party Risk Management programs   
  • Knowledge and understanding of Wells Fargo Third Party Information Management Systems (TRIMS) database
  • Knowledge and understanding of Wholesale Banking products and services & Wholesale Banking experience
  • Strong time management skills and ability to meet deadlines
  • Solid problem solving skills, ability to work independently and in a team environment
  • Experience reading, analyzing and interpreting documents/reports with ability to translate and summarize complex data into understandable, actionable information and recommendations

Job Expectations

  • Ability to travel up to 10% of the time

Salary Information

The salary range displayed below is based on a Full-time 40 hour a week schedule.

MO-Saint Louis: Min: $80,500 Mid: $115,000
NC-Charlotte: Min: $80,500 Mid: $115,000
AZ-PHX-Central Phoenix: Min: $80,500 Mid: $115,000
AZ-Chandler: Min: $80,500 Mid: $115,000
MN-Minneapolis: Min: $80,500 Mid: $115,000
IA-Des Moines: Min: $80,500 Mid: $115,000

Street Address

MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO
NC-Charlotte: 301 S Tryon St - Charlotte, NC
AZ-PHX-Central Phoenix: 100 W Washington St - Phoenix, AZ
AZ-Chandler: 2600 S Price Rd - Chandler, AZ
MN-Minneapolis: 600 S 4th St - Minneapolis, MN
IA-Des Moines: 800 Walnut St - Des Moines, IA


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.


Application Instructions

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