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.
Wholesale Banking Wholesale Banking provides financial solutions to businesses across the United States and globally. A recent reorganization split Wholesale Banking into two new business groups – Corporate and Investment Banking (CIB) made up of Wells Fargo Securities, Corporate Banking Coverage, and Commercial Real Estate, and Commercial Banking (CB) made up of WF Commercial Capital, Middle Market Banking, and Treasury Management and Payment Solutions.
The Wholesale Control (WCo) organization serves as the front line risk management organization within the global footprint of Wells Fargo's Wholesale Banking group supporting the Wholesale businesses with risk and control strategy, implementation, and execution. The WCo team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale. With the recent reorganization of Wholesale Banking, WCo has been split into two groups - CIB Control and CB Control. The restructuring of roles and responsibilities, and staff, will be occurring during the remainder of 2020.
The Wholesale Financial Crimes Leader, Business Risk and Control Sr. Director will be responsible for:
Design of business specific controls to manage across processes consistent with enterprise-wide financial crimes risk management.
Coordinate implementation of Independent Risk Management (IRM) policies to ensure consistency across LOB.
Identify need for controls across major end-to-end business processes consistent with the framework and standards established by IRM.
Monitor and report on risk processes, performance, and associated financial crimes metrics across business such as state of financial crime, large financial crime losses, emerging issues, and trends affecting financial crime risk management for LOB to Senior Management.
Develop updates to controls or other approaches based on IRM, audit feedback, and regulatory exams. Ensure LOB consistently interprets and implements all Financial Crimes Policies, Standards and Procedures, and provide expert risk guidance to LOB.
Ensure high risk issues are promptly escalated and resolved appropriately, including securing immediate senior management attention.
Collaborate with LOB leaders to support business line growth initiatives, while providing input on activities that may lead to elevated risk.
Evaluate initiatives and implementations within and across LOB to ensure that LOB financial crime risks are being appropriately controlled and managed.
Build and maintain relationships with key regulators and examiners to identify and influence areas of focus, serving as a senior point of contact for operational risk-related regulatory matters.
Manage relationships and foster a team orientation with business heads, independent risk management, legal, audit and multiple US regulators.
Build a high performing financial crimes organization that meets heightened risk management expectations.
Develop and execute a plan that facilitates the restructuring of Wholesale Financial Crimes group into the CIB and CB Control and LOB groups ensuring adherence with the Enterprise Risk Management Framework.
Execute on an approved plan to move certain Financial Crimes operational functions to a central Operations Group in the COO office.
The successful candidate will work closely with other senior leaders across Wholesale Banking and Enterprise in the development and execution of company risk management strategies. Accordingly, critical success factors will include the ability to develop partnerships with many business and functional areas, provide insight into the economic climate and related market developments and identify trends which may present opportunities or reflect gaps in the Company's risk management execution/direction.
As a Manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
Coordinate resources across other areas of Corporate Risk to share knowledge, develop wider career pathing, and ensure high integrity and credibility in all resources.
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. It requires a leader with strong relationship management, influencing, vision and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. The role requires a sense of urgency, passion for results, and personal accountability for achievement.
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.
10+ years of management experience
12+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 12+ years of financial services industry experience, of which 10+ years must include direct experience in risk management
Expert-level knowledge of AML laws and regulations, including the Bank Secrecy Act, USA PATRIOT Act, OFAC regulations and associated programs.
Deep experience in managing financial crimes risk management programs at a large, complex bank, financial institution or equivalent.
Deep understanding of the ever-evolving governance and regulatory environments as well as industry and financial crime-related best practices.
Organizational courage and willingness to make tough, informed decisions and thoughtfully share independent perspectives.
Strong analytical, critical thinking and problem-solving skills, coupled with an ability to translate ambiguous ideas/issues into well-defined plans/solutions with a track-record for delivering results.
Effective communicator, both orally and in writing, able to ask well-crafted questions and present ideas in a clear and compelling manner, good listener who engenders creative thinking and teamwork.
An ability to develop and articulate sound proposals to key stakeholders, and an ability to influence and drive timely decision making.
Proven ability to cultivate relationships and collaborate with multiple stakeholders and constituencies, including business leaders, legal, audit and multiple U.S. and non-U.S. regulators.
Proven experience establishing a large-scale vision, developing the strategy to support the vision, gaining consensus across key functional leadership areas through effective communication and successful delivery against goals and objectives.
Proven ability to build and lead high-performing teams, ensuring proper staffing and expertise, and manage the establishment of major policies and relevant compliance programs across major business divisions within a large and complex organization.
Ethical integrity and proven ability to serve as a role model by reinforcing and demonstrating to your team members the core values and behavioral expectations contained in Wells Fargo's Vision, Values & Goals.
Meaningful knowledge across enterprise risk management framework, including: risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance.
Strong business process acumen and understanding of best-practice risk management techniques across financial services industry.
Knowledge of relevant financial regulations and understanding of how they are implemented, managed and enforced.
Deep technical understanding of specific Wholesale business operations, processes, products, and customer interactions and where they manifest risk.
Other Wells Fargo locations may be considered
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.
Internal Number: 5545799-4
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, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo