Operational Risk Director - Risk Architecture Manager

Location
Charlotte, North Carolina
Posted
September 24 2020
Ref
5552413-6
Industry
Banking
Job Description

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 7,500 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 261,000 team members, Wells Fargo serves one in three households in the U.S. 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.

Independent Risk Management

Independent Risk Management (IRM) establishes, implements, and maintains the Company's Risk Management Program under the direction of the Risk Committee and senior management. IRM is accountable for independently overseeing the identification, measurement, assessment, monitoring, aggregation, and reporting on all risks for the Enterprise. IRM also oversees the Front Line's execution of its risk management responsibilities and independently and credibly challenges Front Line risk decisions. IRM may also approve any risk-taking activity that exceeds the Front Line Group's authority.

In addition to the risk management responsibilities discussed above, IRM develops and reviews company-wide risk governance documents and monitors compliance with such documents. IRM considers statutes, regulations, and regulatory guidance when developing risk governance documents. IRM also monitors compliance with company-wide risk appetite thresholds and limits.

Operational Risk Group

The Operational Risk Group is responsible for independently overseeing the management of operational risk exposures (including monitoring and reporting on aggregate operational risk exposures across groups, legal entities, geographies, and jurisdictions) and the quality of operational risk management practices across the company.

More specifically, the Operational Risk Group's responsibilities include:
  • Developing, maintaining, and ensuring adherence to enterprise-wide operational risk frameworks, policies, and procedures that are aligned with Board-approved risk appetite statements.
  • Providing subject matter expertise, advising on risk management best practices, conducting analysis, and communicating with groups and lines of business in order to oversee and support the front line in implementing the requisite controls, processes, and systems to comply with corporate operational risk frameworks, policies, and procedures.
    • Independently evaluating group andline-of-business compliance with corporate level frameworks, policies, and procedures.
  • Credibly challenging management's decisions, business processes, and activities.
  • Escalating operational risk concerns and issues (including breaches and near-breaches of relevant risk appetite tolerances and limits) to senior management and the Board, as appropriate.

The Role

This role sits within the ORM Operational Risk Foundational Programs (ORFP) function. ORFP is responsible for defining & setting the methodology and standards for the operational risk foundational components, including Risk and Control Self-Assessments, Operational Risk Events, Key Risk Indicators, Scenario Analysis, Operational Risk Capital & Stress Testing - and driving awareness over the same. ORFP is dedicated to providing direction, guidance, tools and oversight to help businesses throughout the firm effectively manage operational risk and ensure an adequate integration of loss and capital analysis in support of CCAR.

More specifically, the role will sit within the ORFP Operational Risk Identification & Assessment (ORIA) team which is responsible for helping to define and implement the strategic approach and vision as set forth by the Global Head of ORFP for the Risk and Control Self-Assessment. The individual will lead a team responsible for designing and implementing programs for the strategic build-out and enhancement of existing and future capabilities being deployed across the enterprise to normalize and standardize processes & controls in line with industry standards.

Principal Duties of this Role:
  • Lead an ORIA team and other cross functional teams to design and build Target Operating Models for RCSA to ensure conceptual soundness and alignment with regulatory expectations and industry best practice ; including:
  • Leading the design / re-design of the RCSA target operating models for operational risk with an enterprise and global scope
  • Directing team members and providing thought leadership to identify new and existing processes, defining these processes in alignment with the target state and designing/developing key controls to enable clear accountability and operational rigor in the frontline and independent risk management.
  • Assess TOMs and the associated processes to determine needs, develop strategies, tactics and technological solutions that enable the target state.
  • Manage team member readiness, adoption and implementation of key components of the overall operational risk target operating model
  • Lead the design, development and implementation of reporting that depicts the state and progress of operational risk in reaching the declared target state.
  • Lead cross-functional teams within ORIA and across Operational Risk Management to identify existing similar functions across the foundational elements (RCSA, Scenario and ORE) to identify opportunities for increased efficiency and risk management maturity and develop plans to execute upon these opportunities.
  • Lead the development of policies and minimum standards for execution across the ORFP Team and more broadly by IRM and the frontline to ensure a consistent implementation, adherence and delivery of foundational elements of operational risk across the company.
  • Lead programs to review / develop operating manuals and desktop procedures to support the holistic target operating model.
  • Develop and deploy tools to promote a consistent understanding of objectives, approach and expectations as it relates to standardized / normalized processes & protocols across the functions.
  • Assist in managing responses to Audit & Regulators, as necessary.
  • Cultivate relationships and collaborate with multiple stakeholders across risk as well as business executives, Legal, Audit, Technology and Regulators.

This role requires an extensive operational risk background and experience in business engagement to drive and effect change. A successful candidate will have the experience and ability to:
  • Lead, strategize, design and deliver transformational enterprise impacting programs
  • Build and sustain a strong culture with an emphasis on risk management including a balanced approach through working in cooperation and consultation with all lines of defense across the enterprise.
  • Leverage experience to bring industry leading ideas, solutions, practices and tools to the organization.
  • Exhibit thought leadership, partnership skills, and operate as an advanced communicator across all levels of the organization and management.
  • Build a brand within the ORFP organization which is recognized as being a center of excellence for operational risk foundational elements, which drives forth continuous improvement and enhancement efforts within the operating environments across the front line and second line.

The Candidate

This role requires an extensive operational risk background and experience in business engagement to drive and effect change. A successful candidate will have the experience and ability to:
  • Lead, strategize, design and deliver transformational enterprise impacting programs
  • Build and sustain a strong culture with an emphasis on risk management including a balanced approach through working in cooperation and consultation with all lines of defense across the enterprise.
  • Leverage experience to bring industry leading ideas, solutions, practices and tools to the organization.
  • Exhibit thought leadership, partnership skills, and operate as an advanced communicator across all levels of the organization and management.


Required Qualifications

  • 10+ 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
  • 7+ years of management experience


Other Desired Qualifications
  • 15+ years of experience in finance, consulting and / or operational risk management (or a combination thereof).
  • 7+ years of progressive global management experience.
  • Proven experience in all aspects of designing / rolling out operating models in a complex environment.
  • Experience in developing/implementing strategies, large scale planning, transformation and/or remediation of large complex operational risk functions.
  • Demonstrated experience with interpreting and building processes and output to comply with complex regulatory requirements.
  • Excellent verbal, written, and interpersonal communication skills.
  • Strong analytical skills with high attention to detail and accuracy.
  • Ability to articulate complex concepts in a clear manner.
  • Experience dealing with regulators.
  • Effective leadership ability to drive successful execution of strategic plans; ability to plan, prioritize and set goals. Must possess a sense of urgency about exceeding the objectives of the role.
  • Demonstrated experience working in a rapidly changing, highly complex matrixed environment.


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.

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