Dec 09, 2020

Contract Compliance Officer

  • Wells Fargo
  • Shanghai, China

Job Description

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Market Job Description
Responsibilities include:

Be part of the APAC Compliance function and provide broad ranging Compliance support for the Commercial Distribution Finance (CDF) business activities in China. Responsibilities include:
  • Ensuring Wells Fargo CDF Commercial Factoring (China) Company Limited meets local laws and regulations applicable to CDF business in China, US legal and regulatory requirements, as well as Wells Fargo standards and requirements, including the Regulatory Compliance Risk Management program.
  • Developing, implementing and maintaining an effective Regulatory Compliance and Financial Crimes Risk Management ('FCRM') infrastructure to accommodate legal and regulatory requirements applicable to the CDF business in China and Wells Fargo policies with a view to identify, assess and mitigate Regulatory Compliance and FCRM risks.
  • Providing comprehensive Regulatory Compliance and FCRM risk advisory support for current and new or modified business initiatives and in any development, integration or rationalization of CDF activities in China.
  • Identifying and disseminating information concerning regulatory developments impacting Wells Fargo's China CDF businesses, including necessary interpretation and impact assessment.
  • Acting as the Compliance representative for review and approvals with respect to marketing communications for CDF activities in China.
  • Implementing and administering Regulatory Compliance and FCRM risk control systems and procedures and monitoring; discussing findings or issues and enforcing remedial actions; and undertaking ad-hoc issues escalation and periodic reporting to management.
  • Contributing to any Compliance related reporting needs, as defined by APAC FCRM, and other Risk functions.
  • Ensuring all relevant Compliance issues are escalated to local management, regional management and other team members, as appropriate, on a timely manner; ensuring all relevant Compliance owned corrective actions are satisfactorily completed.
  • Developing and delivering Regulatory Compliance and FCRM training to enhance awareness and knowledge of laws and regulatory requirements applicable to CDF business in China and relevant Wells Fargo policies and procedures.
  • Interacting with regulators and government officials with respect to meetings, inquiries, regulatory changes, licensing, ongoing conduct and reporting requirements, and new or modified business initiatives; leading the local response to Regulatory Compliance and FCRM Risk monitoring and testing initiatives.
  • Partnering in the management of internal audits and compliance review for the CDF business in China.
  • Developing, modifying and maintaining local policies and procedures to ensure ongoing compliance with local or US regulatory requirements, as well as Wells Fargo standards and requirements.

Market Skills and Certifications
  • Relevant university degree and minimum of seven years of relevant experience in Regulatory Compliance and FCRM.
  • Good k nowledge of laws and regulations applicable to CDF business in other APAC jurisdictions is highly desirable.
  • Good understanding of the general operation of comparable CDF entities in China, international financial markets, international trade, and the conduct of business on a cross-border basis.
  • Familiarity with laws and regulations applicable to banks operated in U.S. and/or
  • China is highly desirable.
  • Good understanding of the purpose and importance of effective regulatory oversight, risk management and corporate governance.
  • Experience in identifying Regulatory Compliance and FCRM Risks and advising on promoting, developing and implementing suitable controls, policies and procedures to effectively monitor and mitigate those risks.
  • Qualities of character to build and maintain strong relationships with key stakeholder groups, including senior management, Regulatory Compliance and FCRM team members, internal auditors, examiners, regulators and government officials, and ability to influence stakeholders outside immediate area of control.
  • Ability to collaborate with other team members, whether within China, in the APAC region, or with U.S. stakeholders.
  • Good oral, presentation and written communication skills, both in English and in Chinese. Proven experience in communicating with senior management is highly desired.
  • Excellent ability to manage deadlines and deliverables.
  • Experience in managing and developing teams, and providing effective leadership to motivate and inspire others in their day-to-day activities.

We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

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.

Security Clearance

NO Security Clearance

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