Feb 20, 2020
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 7,600 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 263,000 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. Wealth & Investment Management (WIM) Wealth and Investment Management (WIM), led by Jon Weiss, provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses including Wells Fargo Advisors, The Private Bank, Abbot Downing, and Wells Fargo Asset Management. We deliver financial planning, private banking, credit, investment management, and fiduciary services to high-net worth and ultra-high-net worth individuals and families. We also serve customers' brokerage needs, and provide investment management capabilities delivered to global institutional clients through separate accounts and the Wells Fargo Advantage Funds. Wells Fargo Asset Management (WFAM) Wells Fargo Asset Management (WFAM) strives to help investors achieve their financial goals through investment solutions managed by specialized investment teams and backed by collaborative service. WFAM's investment approach centers on autonomous investment teams that maintain their own independent research, idea-generation, and decision-making processes. Its independent investment risk management approach provides a consistent, unbiased framework for analyzing and balancing risk in portfolios. WFAM offers the expertise of over 29 investment teams-each focused on specialized, niche portfolio management strategies- that attempt to meet the diverse needs of our investors. Wells Fargo Asset Management Business Control Wells Fargo Asset Management (WFAM) Business Control is responsible for ensuring an effective and appropriate control environment for all business activities across all risk types, ensuring the business consistently implements regulatory and corporate risk programs, and counseling business leaders on risk, issues, remediation, and regulatory interactions. The Roles The Wells Fargo Asset Management Business Control Group is a newly restructured group within WIM. As part of the go-forward organizational transformation, there are multiple leadership roles open within this requisition. Role#1: Head of WFAM Operational Risk Control Lead a team of risk professionals responsible for Wells Fargo operational risk programs and policies including but not limited to: BCP, Data Management, Fiduciary and Investment, Human Capital, Information Security, Technology, Records Management, Privacy, Third Party, Safety and Physical. Partner with WIM Control program leaders to be responsive to new and changing policy requirements Drive Integrated Process Risk and Control activities, which integrates elements of the Business Process Risk Management (BPRM) program with enhancements to the Risk and Control Self-Assessment (RCSA) process to ensure an accurate end to end identification and self-assessment of risks and controls in the construct of the business Ensure risk and key/primary controls are identified during the process build and annual refresh; provide control assurance, identify control gaps and process efficiency opportunities, and ensure deficiencies are documented appropriately Manage Third Party Service Provider Program to ensure key elements of the program are met, including use and entry of third party in TRIMS, execution of due diligence, and ongoing oversight of third parties Ensure WFAM records are maintained and managed in accordance with Records Management Policy and regulatory requirements, including retention and destruction timeframes, as well as their intersection with Information Security, Third Party, and Business Continuity risk programs Partner with WIM Control to manage all elements of Technology Risk, including but not limited to corporate policy requirements related to Data Management, Information Security, Digital Properties, Data Loss Prevention Programs, and End User Computing Represent Business Control team and overall risk management framework at Client Due Diligence sessions led by WFAM Client Relationship Management teams Monitor and oversee Fiduciary, Investment, Market and Model (FIMM) Risk. Closely partner with WFAM Investment Analytics and WIM FIMM teams. Participate in monthly investment briefings with front line partners and Fiduciary and Investment Risk Oversight (FIRO) Develop and maintain monthly qualitative and quantitative risk metrics to identify, assess, monitor and escalate operational risks Partner with Head of Asset Management Operations to identify, assess, and escalate operational risks, including participation in Operations Council, business risk reviews, enhanced vendor due diligence, and intermediary oversight forums Partner with Operational Risk Business Oversight (ORBO) teams Promote a strong risk culture and provide leadership for WFAM business Role #2: Head of WFAM Issues Management & Self-Assurance Lead a team of risk professionals responsible for understanding, identifying front line requirements, and executing on the enterprise issues management, self-assurance, customer remediation, and escalation policies Partner with various Group Issues Management teams across WIM, Compliance, and EMEA to successfully execute on needed changes in SHRP and be responsive to new and changing policy requirements Oversee WFAM Issues Management portfolio across the issue lifecycle, including ensuring appropriate root cause and corrective action are developed; track and report progress, facilitate forums and discussions on key issues, and drive to closure by due dates. Escalate at-risk issues as needed and ensure compliance with timeframes and documentation requirements of the Issues Management Policy Perform Pre-Validation activities of issues to confirm that corrective actions are complete, adequately address the issue, and are sustainable, thus ensuring successful closure and validation by third parties Manage and oversee Self-Assurance Activities, including the central inventory for SAAs for WFAM; ensure the business designs and implements SAAs adequately and commensurate with the risks inherent to the process activities performed; monitor and evaluate SAA execution and reporting to verify accuracy; ensure deficiencies have been assessed appropriately and reported in compliance with program requirements Provide Audit Exam support to the business during audit engagements, including assisting the line of business in preparing for the audit and challenge responses Track and monitor all testing and audit engagements impacting WFAM, identifying overlap, duplication and areas of opportunity or synergy for various teams Provide reporting to WFAM Executive Management Team and WFAM Risk Committee, highlighting current issues portfolio risks as well as emerging themes and trends Partner closely with WIM Operations Control Lead and Head of Asset Management Operations to report on issues and corrective actions owned by Operations Promote a strong risk culture and provide leadership for WFAM business Role #3: Head of WFAM Governance, Reporting & Administration Lead a team of risk professionals responsible for understanding, identifying, and executing WFAM front line requirements of Enterprise Risk Policies and Programs, including but not limited to: New Business Initiatives, Risk Measurement and Risk Appetite, Risk Identification and Assessment and Committee Governance. Partner with WIM Control program leaders to be responsive to new and changing policy requirements Govern WFAM Committees ensuring adherence to the Committees Policy for all WFAM Committees; coordinate WFAM Risk Management Committee on behalf of the WFAM Control Leader including agenda, content and charter updates Drive Risk Assessment of New Business Initiatives (RANBI) processes; provide guidance on key strategic proposals and ensure that the business risk profile remains consistent with the risk appetite; escalate any material issues Provide ongoing oversight of the business growth initiatives and execution risks associated with large, complex business and technology strategic initiatives Drive Risk Measurement and Risk Appetite statement and key indicators; ensure the Front Line strategic plans align to the risk appetite measures; monitor and report on associated risk measures and ensure proper escalation on outer boundary triggers Oversee Risk Identification and Assessment, completing business group risk assessments in the ERIA system of record for all assigned risk statements, quarterly Propose changes to risk statements in the enterprise risk inventory Respond to challenges throughout the quarterly enterprise risk identification and assessment process cycle Facilitate other risk programs' usage of ERIA ratings (e.g., Risk Measurement, NBI, Risk Acceptance) Support Strategic Planning efforts with WFAM business partners to ensure the risk profile and risk programs are informing and embedded in the plan, and that plan risks are appropriately mitigated; consult with the business on the development of risk measures and scorecards Lead the monthly WFAM Control forum and reporting focused on quantitative metrics and qualitative discussion on top of mind risks across all risk types with WIM and independent control partners Lead the development and distribution of WFAM Control business and risk reporting for WIM Control, WFAM leadership, and Committees Drive internal WFAM Control organization onboarding program, planning, meetings and communications Promote a strong risk culture and provide leadership for WFAM business These senior Operational Risk leaders will be accountable to the WFAM Business Control Leader. They must foster a collaborative environment that ensures timely communication and strong cooperation between the front line organization and independent risk management under Corporate Risk. They will serve as a catalyst for sound risk management practices and strengthen the risk culture for Asset Management. The Candidate 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. These roles require leaders 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. These roles require a sense of urgency, passion for results, and personal accountability for achievement. The successful candidate will work closely with other senior leaders across WFAM and WIM 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. Location: Charlotte, NC; Boston, MA; Other Wells Fargo locations may be considered. Required Qualifications 7+ years of management experience 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 Other Desired Qualifications Proven leadership experience working with risk management framework in Asset Management, Wealth Management, and/or institutional investment industries Experienced and recent discussions with regulators Dedicated, enthusiastic, driven and performance-oriented; possesses a strong work ethic and results orientation Ability to effectively and constructively lead change in an organization Meaningful knowledge across enterprise risk management framework, including: risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance 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 Strong interpersonal, influencing, and communications skills with an ability to interact effectively with stakeholders and regulators, to include: virtual, matrixed leadership experience and the ability to effectively manage and build relationships within the business and enterprise Risk function Demonstrated leadership ability that embodies the Wells Fargo Vision and Values and leadership competencies Ethical integrity and demonstrated ability to assess and determine when to raise concerns and escalate Proven ability to build and lead a high performing control risk management organization in a matrixed environment, ensuring proper staffing and expertise exists; proven ability to coach and enable others in risk management and risk ownership Strong analytical ability used to identify risks and confidently raise issues, escalate early and engage in constructive credible challenge, doing so independently when necessary Proven ability to proactively manage and resolve conflict and effectively defend decisions with objective rationale Advanced Microsoft Office skills 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.
Charlotte, NC, USA