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Operational Risk Consultant 5 - Regulatory Control Tax

at Wells Fargo

Posted: 5/14/2019
Job Reference #: 11874891
Keywords: consulting

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.

The Payments, Virtual Solutions, and Innovation (PVSI) team includes Operations, Consumer Credit Card, Retail Services, Consumer Deposits, the Innovation Group, Treasury Management, Merchant Services and Wells Fargo Virtual Channels and the professional services teams that partner with these businesses. PVSI's focus is on delivering the next generation of payments and deposit capabilities and advancing our digital and online offerings to design new customer experiences and products. Our guiding principles are to start with the customer, move faster, and partner effectively.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
 
Payments, Virtual Solutions, and Innovation
PVSI brings together the Company’s payments platforms, digital capabilities, as well as online, mobile, and phone channels and innovation teams.  It has six major business units, including: Cards and Retail Services; Deposit Products Group; Digital Innovation Channels; Operations; Treasury, Merchant, and Payment Solutions; and Contact Center. It also invests in research and development and strategic partnerships to design and build next generation products and customers.
 
The Team
The PVSI Regulatory Control team is specifically responsible for the management of regulatory risks within PVSI. This team is responsible for implementing the Regulatory Control program within the PVSI business. This team responsible for identifying, managing, controlling, monitoring and escalating the regulatory risk within the PVSI business including coordinating regulatory exams and completing regulatory reporting.

The Role
The Regulatory Control Tax Operational Risk Consultant 5 will drive implementation of controls to mitigate compliance risk related to Tax, including Information Reports, Withholding, Documentation, and Due Diligence, among other requirements. Additionally, this position will provide front line support related to Corporate Regulatory Compliance Policy requirements established by Wells Fargo Compliance.

Key Responsibilities/Accountabilities
This role will be responsible for identifying regulatory compliance risks, implementing compliance policies, supporting regulatory control effectiveness assurance across business processes, and monitoring and remediating risk issues in a timely manner. The candidate will be able to articulate various state laws related to Tax risks for all PVSI business lines.

Specific duties for this position include, but are not limited to:

  • Execute Independent Risk Management (IRM) regulatory compliance requirements related to Tax.
  • Monitor business processes with regulatory risk to ensure Tax compliance
  • Work with business units and provide regulatory controls expertise and consulting for Tax
  • Identify and mitigate Tax regulatory risk in all business activities.
  • Engage in regulatory control activities related to Tax with PVSI-wide impact (Issue Management Development, Audit, Exams and Control development activities)
  • Review and provide feedback on issues, corrective actions and assess the strength of controls with impact to Tax compliance
  • Review and approve business procedures, letters, QA/QC scripts related to Tax
  • Collaborate with key business partners (i.e. Compliance, Business Aligned Control teams, Cross Functional Control teams, etc) as needed to support Tax compliance
  • Active participant in Tax Community of Practice meetings with Independent Risk Management and communicate and drive PVSI-wide work efforts
  • Drive PVSI consistency through standards, playbooks, and procedures, templates as needed


Required Qualifications

  • 10+ 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 10+ years of IT systems security, business process management or financial services industry experience, of which 5+ years must include direct experience in compliance, operational risk management, or a combination of both



Desired Qualifications

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



Other Desired Qualifications
  • Knowledge/familiarity with Tax laws applicable to Wells Fargo
  • Identify and understand the Tax risks of across PVSI
  • Experience conducting Tax process implementation and/or control oversight of Tax-related processes
  • Project Management experience to lead and drive enterprise wide initiatives
  • Knowledge and understanding of PVSI business lines
  • Regulatory compliance reporting tool experience (required but not required)
  • Experience with partnering with multiple stakeholders
  • Knowledge and understanding of compliance in the financial services industry
  • Ability to implement a solution and communicate, in clear business terms, the benefits of the proposed risk management approach
  • Ability to influence across all organizational levels, particularly senior management
  • Ability to influence executive decision-making and successfully negotiate critical issue resolution related to program initiatives
  • Ability to lead projects/initiatives with high risk and complexity
  • A BS/BA degree or higher


Salary Information

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

IA-Des Moines: Min: $110,600 Mid: $158,000
AZ-Tempe: Min: $110,600 Mid: $158,000
NC-Charlotte: Min: $110,600 Mid: $158,000



Disclaimer


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.

PYMTVIRSOLSINN/PVSI WH

Application Instructions

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