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, insurance, investments, mortgage, and consumer and commercial finance through more than 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Payments, Virtual Solutions, and Innovation
PVSI brings together the Company’s payments platforms, digital capabilities, as well as online, mobile, and phone channels and innovation teams. It has six major business units, including: Cards and Retail Services; Deposit Products Group; Digital Innovation Channels; Operations; Treasury, Merchant, and Payment Solutions; and Contact Center. It also invests in research and development and strategic partnerships to design and build next generation products and customers.
The PVSI Control team is specifically responsible for the management of non-financial risk within PVSI, including operational risk, compliance risk, model risk, reputation risk and strategic risk.
Each of the senior leader roles noted below will be responsible for designing, executing, and monitoring a front line risk and control program for their respective Cards & Retail Services (CRS) business function. Each leader will oversee a team responsible for the identification, assessment, monitoring, and management of non-financial risks related to processes and controls. These roles provide business executives with an aggregate view of risk for their respective business, as well as assurance of the effectiveness and sustainability of the internal risk and control framework, including risk assessment, reporting, monitoring and escalation of control related issues.
Role #1: Product Development & Setup
Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including product lifecycle management, product design and development, rewards offers and embedded benefits, new product and service test and pilot, product launch, existing product evaluation, product lifecycle management, and digital payments.
Role #2: Customer Acquisition and Account Onboarding
Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including Market analysis, Marketing strategy and value prop, Pricing strategy, Channel strategy and partnerships, Sales strategy, Marketing goals and placement, Account plan management, Sales partner and alliance management, Capacity planning, Account Application, Disclosures, Prequalification and Prescreening, Underwriting, Fulfillment, Account Boarding, and Tokenization and Provisioning.
Role #3: Account Maintenance & Servicing
Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including Account Closure, Customer service strategy, Customer service request management, Channel management, Rewards point and balance management, Customer information management, Customer authorizations and transactions, Customer billing, Balance Transfers, Fee and Interest Reversals/Waivers, and Rewards management.
Role #4: Operations (Collections, Fraud and Claims)
Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including Bankruptcy, proof of claims, and reaffirmation management, Legal Judgements, Post-Judgment, Credit Bureau Reporting, Credit Bureau Disputes Handling, Collections Activities, Dialer and Collections calls, Deceased Handling, FFIEC Account Management, Repossession and Remarketing, Cease and Desist, Tax Reporting, Receive, Post Payments, Cardholder Fraud, Complaint Management, Setoff and Offset, Payment Exceptions Processing, Fraud end-to-end process, Complaints end-to-end process.
Role #5: Partner and Merchant Acquisitions and Servicing
Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including Co-brand design, development, acquisitions, Co-brand contract and risk assessment, Partner and Merchant Marketing, Merchant pricing, Merchant Inside and Outside Sales, Merchant Approval and Setup, Partner management and servicing, Merchant Point-of-Sale Processing, and Merchant Relationship Management.
- Serve as the primary PVSI Control Team liaison to business unit heads
- Serve as subject matter expert (SME) for products, services, risks, processes, and controls within the aligned BU
- Facilitate risk management activities within the front line and ensure compliance with enterprise requirements
- Serve as an advisor to guide business and risk mitigation strategies
- Create an aggregate view of risk across assigned businesses and products
Each of these roles require the following skills:
- Ability to interact across multiple senior manager roles in both the business and newly created PVSI Control Risk-aligned and Support roles
- Ability to proactively lead the BU-aligned teams to document the risks and controls associated with the key business processes in telling a process-based story on the control gaps related to all non-financial risk including compliance, operational, model, reputational, and strategic
- Ability to challenge the business to define and execute flawlessly PVSI end-to-end processes and related controls including product lifecycle management, product design and development, rewards offers and embedded benefits, new product and service test and pilot, product launch, existing product evaluation, product lifecycle management, and digital payments
- Ability to tie all control breaks and issues to business processes and complete an aggregate view of process risks for the PVSI organizationAbility to transition previous issue management, remediation, compliance assessment, governance, and other risk-aligned and support activities to the dedicated team to allow focus on the business process and control gaps impacting PVSI customers and the business
Each of these Business Unit Risk and Control Leaders will lead a team of risk professionals and work cross-functionally with multiple support partners.
The candidate will work closely with other senior leaders across the PVSI and PVSI Control business in the development and execution of PVSI Control strategies and related business processes. Accordingly, critical success factors will include the ability to develop partnerships with multiple business and functional areas to provide process insight into the risks, controls, gaps, and trends which present opportunities to de-risk the current business.
These roles require a collaborative leader capable of initiating action and managing change in a fast paced environment as well as 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. The role requires a sense of urgency, passion for results, and personal accountability for achievement while having ability to make timely and difficult decisions.
Successful candidates will have ability to distill complex concepts, businesses, and processes across multiple teams into simplified and targeted solutions while communicating those concepts effectively and ensuring that all deliverables are met. They will use process and analysis skills to identify business problems and build compelling fact-based strategic recommendations. They will also have a demonstrated ability to build and maintain strong credible relationships with key stakeholder groups including PVSI Control Team Executive, PVSI Business Unit Officer, PVSI Risk-Aligned Control Teams, PVSI Control Support Teams, PVSI Business Management, and Independent Risk Management.Required Qualifications
- 10+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 10+ years of IT systems security, business process management or financial services industry experience, of which 6+ years must include direct experience in compliance, operational risk management, or a combination of both
- 7+ years of management experience
- Advanced Microsoft Office skills
- 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
BA/BS and/or Advanced Degree (MBA, JD, etc.)
Strong knowledge of the financial services industry, products, and regulatory environment
Excellent organizational and time management skills with the ability to process multiple tasks simultaneously
Ability to articulate complex concepts in a clear manner
Proven leadership ability to drive successful execution of business initiatives
Ability to plan, prioritize and set goals
Proven ability to build dynamic and high performing teams
Ability to influence and consult strategically across a large organization and with various levels of leadership/stakeholders
Working knowledge of PVSI relationships and transaction processes
Strong understanding of policies, procedures, and programs to ensure appropriate and effective risk mitigation controls are in place
Advanced Microsoft Office skills
Excellent verbal, written, and interpersonal communication skills
Strong analytical skills with high attention to detail and accuracy
Risk Certification Programs a plus
- other major Wells Fargo locations will be considered
- 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.