Business Risk & Control Senior Officer - CIB Control - Spread

New York, New York
October 17 2020
Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.

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.

This position is within the Corporate & Investment Banking (CIB) Control Team, which is responsible for the implementation and management of the First Line of Defense risk program requirements. Within CIB Control, this position resides in the Business Aligned Control team and will support the Spread business [Asset Backed Finance (ABF) Sales & Trading (S&T); Credit S&T; Municipals S&T; and Fixed Income Research]. The position requires a detailed understanding of Capital Markets products and services, as well as good knowledge and understanding of Fixed Income products and an understanding of relevant financial regulations. Furthermore, the ideal candidate should have a strong understanding of the principles of operational risk management, as prescribed by the Basel Committee. The role will support global business leadership and COO teams to design and implement first line controls with respect to a variety of regulatory requirements, Wells Fargo policies and industry best practices.

Specific responsibilities include:
  • Interaction with regulators specifically the OCC and the FRB
  • Continuously engage in discussions with LOB partners on strategy, industry trends, organizational changes, and new/modified markets, systems, products and services, to determine impact and identify and remediate risk issues across all risk types, including financial risks
  • Collaborate with LOB partners on control design and implementation to mitigate risks
  • Collaborate LOB process and control owners for Control Assurance, including identifying where controls reside, managing control changes, evaluating effectiveness and functioning as liaison to control assurance team in Governance & Programs
  • Collaborate LOB partners on matters relating to the identification, formulation, and implementation of Corporate policies, procedures to mitigate risks
  • Ensure a proper LOB profile of applicable regulations and associated controls as well as residual risks and compensating controls are maintained and continuously updated in appropriate systems of record on an ongoing basis.
  • Ensure appropriate connectivity, linkage, and integration with in-region international risk management teams accountable for LOB activities in EMEA, Canada, Asia, ANZ, and Latin America.
  • Execute and manage the advancement of core risk program requirements such as BPM, loss capture as well as related enterprise risk programs (BCP, Information Security, Sales Practices, Conduct Risk, etc.)
  • Partner with Spread managers and control functions to complete risk program requirements.
  • Establishing the product-risk portfolio profile, rating and trend for subject coverage areas across the L1 and L2 risk types defined in the Corporate Risk Management Framework and related BPM process activities for areas covered.
  • Establish the inventory of all relevant business processes, governance channels, internal testing, audit, regulatory engagements and prioritize internal preparation, review routines and the integration with RCSA/BPM as applicable.
  • Establish regular routines with corporate risk, testing & validation and audit partners to provide transparency into business risk profile and trend.
  • Support the Quarterly LOB RCSA Affirmation process and related feeder/governance meetings
  • Establish and update regular risk reports for communication of risk ratings, issues and key topics.
  • Work with the business and support teams to provide operational risk expertise and consulting for projects and platform initiatives.
  • Work within the CIB Business Control Management team to ensure requirements of the corporate risk management programs (CRMPs) are appropriately communicated to and met by the line of business
  • Conduct risk assessments to evaluate the adequacy and effectiveness of policies, procedures, processes, systems, technology and internal controls.
  • Analyze business, industry, system changes or other material business environment changes to determine impact, identify and assess operational risk issues.
  • Report risk assessment findings through corporate risk reporting channels and develop business cases to influence control owners and business sponsors on the need for additional or improved controls to mitigate risk as applicable.

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.

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 10+ years of financial services industry experience, of which 7+ years must include direct experience in risk management

Other Desired Qualifications
  • Strong working knowledge of Capital Markets businesses, specifically fixed income products and relevant risks and controls of the business (i.e. trading controls/pricing and valuation).
  • Experience with RCSA and BPM
  • Familiar with fixed income rules and regulations
  • Working knowledge of the Risk Management Framework (RMF) concepts and policies across risk types (regulatory, financial crimes, credit, operational, etc.)
  • Experience working regulators specifically with the OCC and the FRB
  • Knowledge across enterprise risk management framework, including: risk identification and risk appetite
  • Demonstrated ability to solve problems and analyze issues when data is collected from multiple sources
  • Excellent communication skills (verbal, written and interpersonal); ability to concisely articulate complex concepts in a clear manner.
  • Strong analytical skills with high attention to detail and accuracy.
  • Highly professional, adaptable and pro-active mindset.
  • Demonstrated capability to confidently raise issues, escalate early, and engage in constructive credible challenge independently.
  • Advanced Microsoft Office skills.
  • Technical understanding of specific business operations, processes, products, and customer interactions where they manifest risk.
  • Ability to develop high performing, diverse risk structure in a highly matrixed environment.
  • Ability to assess and determine when to raise concerns and escalate.
  • Pro-actively resolve conflict and maintain objectivity.
  • Ability to conceptualize, develop, and deliver quality analysis and highly actionable management information.
  • Demonstrated capacity to pro-actively and independently analyze and solve problems and address risks with the business unit's risk appetite and all risk and compliance program requirements.

Job Expectations

  • Ability to travel up to 20% of the time


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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