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Operational Risk Consultant 5 - Structural Planning & Administration - BPRM/RCSA Credible Challenge Consultant Lead
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.
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.
The Operational Risk Business Oversight (ORBO) function is part of the broader Operational Risk Group within Corporate Risk. The team is focused on independent oversight of front-line business groups with responsibility for aggregating, challenging, and overseeing all operational risks present in the business and its operations.
The Structural Planning & Administration (SP&A) team within the broader ORBO function is accountable for developing and driving a consistent, collaborative, sustainable approach to business-aligned oversight for operational risk. This team has responsibility for:
- Developing a documented program
- Ensuring the program is consistently applied
- Conducting enterprise-wide evaluation of risks and issues requiring escalation and/or coordinated action planning
- Executing enterprise-wide business process comparisons to drive greater consistency
- Coordinating across the Operational Risk Group to review and challenge program/policy updates
- Driving a coordinated credible challenge calendar
- Developing/executing routine information sharing across all three lines of defense
Operational risk is the risk resulting from inadequate or failed internal controls and processes, people, and systems, or resulting from external events. Operational risk is inherent in all Wells Fargo products and services as it often arises in the presence of other risk types.
The Operational Risk Consultant 5 (ORC5) Business Process Risk Management (BPRM) and Risk and Control Self-Assessment (RCSA) Credible Challenge Consultant Lead role will be responsible for designing and/or supervising risk-based review and challenge of the front-line business groups’ operational risk assessment outputs. This role will interface and partner closely with the business-aligned oversight teams to identify opportunities for the business groups’ operational risk assessment outputs to better align with corporate-driven requirements and to more effectively evaluate risks and identify issues. This role will leverage a wide variety of data elements to execute credible challenge, including (but not limited to) risks, controls, issues, testing, and self-assurance results, internal losses, compliance requirements, and business process information. Additionally, this role will support on-going credible challenge routines, key stakeholder updates, and identification of process improvement opportunities.
Key responsibilities include:
- Designing and/or supervising risk-based review and challenging the front-line business groups’ operational risk assessment outputs
- Maintaining subject matter expertise in operational risk assessment processes and systems, incorporating new or modified requirements into the risk-based review, and challenging design
- Ensuring comprehensive coverage, consistency and quality in execution, and maintenance of a credible challenge review schedule, including supervision and input in review scoping, monitoring progress of reviews and reporting on the results
- Identiying and evaluating a wide variety of data elements to support credible challenge opportunities and recommended solutions
- Identifying opportunities for improved risk management and/or more effective and efficient risk program execution
- Effectiely partnering with business-aligned oversight teams and other stakeholders to identify opportunities to drive coordinated action planning to address risks, issues, and better program alignment
This person in this position will utilize their knowledge and understanding of operational risk assessment processes, data, and systems as well as business processes. They will partner with both internal and external stakeholders in the communication of insights gained through review of data.
Locations: Minneapolis, MN; Charlotte, NC; San Francisco CA; Phoenix AZ; Des Moines IA; other Wells Fargo locations will be considered.
Other Desired Qualifications
- Subject matter expertise in operational risk assessment processes, such as BPRM and RCSA, systems, and data, as well as business processes
- Solid knowledge and understanding of one or more risk management systems and data, such as SHRP Issue Management, SHRP Operational Risk Events, SHRP Compliance Management, Third Party Risk Information Management System (TRIMS), SHRP Risk Assessment of New Business Initiatives (RANBI), SHRP Enterprise Risk Identification (ERID)
- Proven ability to proactively manage and resolve conflict and effectively defend decisions with objective rationale
- Flexibility and business savvy to navigate a complex, highly-matrixed organization
- Strong critical thinking skills with the ability to gather and assess relevant information and reach sound conclusions and solutions supported by relevant criteria and standards
- CIA, CPA, CRCM certifications are desirable
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.