Third Party Operational Risk Officer - Policy and Risk Guidance

Fort Mill, South Carolina
October 24 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.

Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

The Third Party Risk Management Oversight organization is responsible for establishing the strategic direction and management of Wells Fargo's enterprise third party risk management program. This function is responsible for maintaining a strong operational risk culture, formulating risk appetite and tolerances, and for establishing/maintaining a program to identify, assess, measure, monitor, control and report on third party operational risks. Consistent with other programs overseen by Corporate Risk, this program provides independent risk management oversight (Second Line of Defense) to ensure an independent, integrated, and holistic view of Wells Fargo third-party risks.

As a team member, this position will be responsible for:
  • Creating and writing governance documents applicable to global enterprise third party risk management programs and practices.
  • Translating global third party regulatory guidance into policy and standards, creating crisp and concise communication that is easy for business partners to understand and execute. Provide SME support to business partners on third party guidance and policy.
  • Effectively collaborating with business partners in the first-line-of-defense (FLOD) and second line of defense (SLOD) in the establishment and maintenance of third party operational risk policy and processes
  • Providing monitoring and independent oversight of the execution of third party processes as they relate to policy and standards, including the independent oversight of the build out of a new front line process dedicated to the end-to-end third party risk management lifecycle.
  • Developing practices, processes, templates, and reporting to provide independent risk management oversight and participation in critical enterprise programs or projects with significant third party providers.
  • Attending steering committees and working groups to ensure appropriate operational risk management coverage
  • Capturing, developing, documenting and where necessary escalating credible challenges. Reviewing mitigation/remediation plans and providing advice on mitigation effectiveness and alternative mitigation approaches
  • Integrating across the Independent Risk Management team to fulfill commitments
  • Working with stakeholders to ensure each has the tools, processes and expertise to effectively manage operational risks
  • Developing and maintaining strong working relationships with the line of business, corporate regulatory, operational risk and compliance peers

Third Party Risk Management provides critical independent risk management coverage. Key activities include review and credible challenge of third party sourcing and management solutions, monitoring controls, oversight of risks/mitigation plans, project status reporting and operational risk domain artifacts used as part of the regulatory reporting process.

Required Qualifications

  • 7+ 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 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management
  • 4+ years of third party risk management experience

Other Desired Qualifications
  • Experience writing policies and procedures. Demonstrated ability to develop written program materials, including summary level risk reporting and standards
  • Comprehensive understanding of global key regulatory guidance, and the ability to apply that guidance to sound risk management practices.
  • Expertise in translating regulatory guidance into policy and standards, and writing the documentation clearly.
  • Knowledge and understanding of risk framework policies and programs.
  • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important.
  • Excellent verbal, written, and interpersonal communication skills. Ability to articulate complex concepts, and tell a crisp, concise story at a senior level. Must enjoy writing policy and standards documents.
  • Demonstrated experience managing aggregated risk management of Third Parties. Risk management practices include risk identification, assessment, and prioritization, monitoring and reporting.
  • Experience with regulators, and the presentation of materials within a regulatory context
  • Ability to manage initiatives including: detailed planning, process management, and documentation
  • Strong strategic and analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization, and influence in a matrixed environment
  • Experience with the oversight of third party affiliates including outsourcing activities supporting international entities.
  • Demonstrated ability to lead change through influencing skills, being a positive change agent, brokering compromises and meeting deadlines
  • Expertise in performance, risk or contract management of third parties
  • Establishment of supplier and contract evaluation criteria and risk assessing the overall portfolio of existing and alternative suppliers and contracts.
  • Current or previous experience in Wells Fargo's Corporate Risk group.
  • Prior experience with tracking, monitoring and implementing corrective actions for Compliance/Operational Risk.
  • Demonstrated experience managing a fair, risk-based and formal practice to ensure a viable best fit based on specified requirements.
  • Demonstrated experience ensuring that new or changed contracts conform to enterprise standards and legal and regulatory requirements.
  • Experience with identifying and managing risk relating to suppliers' ability to continually provide secure, efficient and effective service delivery.
  • Enterprise Risk Program Management experience
  • Demonstrated experience developing practices, processes, templates, and reporting
  • Financial service industry experience with a focus on operational risk and compliance
  • An impeccable reputation for integrity, accuracy, consistency, big picture orientation and business acumen

Job Expectations

  • Ability to travel up to 15% 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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