Wells Fargo


St. Louis, Missouri


United States

Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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Compliance Consultant 3 (WFA Issue Management and Broker-Dealer Testing Support)

Wells Fargo - St. Louis, Missouri

Posted: 07/26/2018

Job Description

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. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.

Wells Fargo Compliance is the company’s compliance second line of defense function, providing company-wide leadership, standards, support, and independent oversight to ensure that all business groups abide by applicable laws, rules, regulations and regulatory guidance (regulatory requirements), meet compliance responsibilities, and manage compliance risks. Wells Fargo Compliance credibly challenges management decisions, business processes and activities, and evaluates and assesses adherence to applicable regulatory requirements. It provides appropriate analysis, reporting, and escalation to senior management and the Board of Directors, sets minimum standards for the company, and gives advice, guidance, and support for compliance risk management activities across the enterprise.

The Internal Review group is responsible for developing and executing a review program to test and verify business unit controls that help ensure the Firm’s system of supervisory controls is operating effectively. In addition, the Internal Review group populates and supports the Shared Risk Platform (SHRP) Issue Management system to capture and monitor issues identified through regulatory exams, internal reviews (e.g., Audit Services, Testing & Validation, Internal Review, etc.) or self-disclosure by the line of business. Internal Review is responsible for reviewing the resolution plan to assess its adequacy and for monitoring the issue through remediation. Internal Review also utilizes SHRP to produce management reports to support standard and ad-hoc reporting requirements for Wells Fargo.

The Internal Review Compliance Consultant (CC) will be assigned to monitor the resolution of outstanding issues and consult with senior leaders in developing corrective actions for new issues to ensure regulatory compliance and compliance with the Corporate Issue Management Policy. The CC will partner with business owners to ensure controls are well designed in order to address the risk and root cause of the issue. In addition, the CC will support in monthly and quarterly risk reporting requirements. The CC will also provide support in the planning and execution of a testing program over various areas within the brokerage and investment advisory businesses to assure compliance with federal, state, agency, legal and regulatory requirements.

Specific Job Responsibilities:

  • Documenting a root cause analysis, assessing the risk rationale of issues, escalation of high risk issues, facilitating interim corrective actions, escalation of past due issues and assessing sustainability of the corrective actions
  • Evaluating the adequacy of the control environment, performing substantive testing of internal controls, creating work papers to support testing, and reporting findings to management
  • Communicating testing results efficiently and clearly to business partners at all levels of the organization
  • Developing and publishing applicable status reporting of programs and projects for senior management

Please note: Based on the volume of applications received, this job posting may be removed prior to the indicated close date. If you do not apply prior to the closing of this posting, we encourage you to apply for other opportunities with Wells Fargo.

Required Qualifications

  • 2+ 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
  • 2+ years of experience in one or a combination of the following: additional compliance, additional operational risk management, IT systems security, business process management or financial services industry experience; or a BS/BA degree or higher in business or a related field
Desired Qualifications

  • Intermediate Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization
  • A Master's degree or higher in accounting, finance, or economics
  • Strong organizational, multi-tasking, and prioritizing skills
  • Ability to take initiative and work independently with minimal supervision in a structured environment
  • Experience creating, executing, and documenting compliance testing
Other Desired Qualifications
  • 4+ years audit experience in the financial services industry
  • Ability to gain an understanding of and evaluate the internal controls of previously unfamiliar areas
  • FINRA Series 7 or willingness to obtain
  • Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA)

  • 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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