Wells Fargo

Job Category:



Charlotte, North Carolina


United States

Postal Code:


Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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Futures Commission Merchant (FCM) Product-Risk Officer (Operational Risk Consultant 3)

Wells Fargo - Charlotte, North Carolina

Posted: 09/13/2018

Job Description

At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. 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.

Wholesale Banking provides financial solutions to businesses across the United States and globally. Our nine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Wells Fargo Securities, LLC

This position is within the Wells Fargo Securities, LLC (“WFS”) Operational Risk Management Group which is responsible for the implementation and management of the operational risk program supporting the Equities (Cash, Derivatives, Investment Solutions, and Prime Services), FCM and GICG businesses as well as the related support functions. The FCM Product Risk Officer will support the lead FCM Product-Risk officer in building out the line of business operational risk program. This position requires an understanding of an FCM businesses, trading systems, technology and FCM Operations in addition to the principles of operational risk management as prescribed by the Basel Committee. Specific responsibilities include:

  • Supporting the Risk and Control Self-Assessment (RCSA): Updating risk and control assessment ratings and supporting information, collection of metrics and establishing a quarterly forum to evidence management validation and attestation to RCSA.
  • Supporting Business Process Risk Management (BPRM): establish/maintain process maps, definitions of risk and controls, and coordination with corporate testing and validation.
  • Incident Management and loss capture: Document and assess operational risk incidents using methods such as root cause analysis, consult with business to develop corrective action plans. Oversee implementation progress and conduct validation efforts as required. Coordinate with business and support partners for creation of Self-Disclosed issues in IM system of record. Record losses in the system of record as applicable.
  • Management reporting: establish and update regular risk reports for communication of risk ratings, issues and key topics.
  • Coordination with internal testing engagements such was WGRO T&V and Internal audit.
  • Work with the business and support teams to provide operational risk expertise and consulting for projects and platform initiatives
  • Work with the WFS Operational Risk team to ensure requirements of the corporate risk management programs (CRMPs) are appropriately communicated to and met by the line of business.
  • Conduct risk assessments to evaluate the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyze business and/or system changes to determine impact, identify and assess operational risk issues.
  • Report risk assessment findings and develop business cases to influence control owners and business sponsors on the need for additional or improved controls to mitigate risk.

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 and if 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.

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
Other Desired Qualifications
  • 4 year BS/BA degree or equivalent experience
  • Minimum of 5 years total experience with at least 3 years in operational risk management, compliance, finance or audit programs.
  • Knowledge of an FCM, Cleared OTC Derivatives, Operations, hedge funds as well as general knowledge of exchange traded and OTC products.
  • Cross functional understanding of risk and controls (e.g. market, credit, finance, compliance, operations).
  • Adherence to strict deadlines in a fast paced environment Strong management reporting skills, ability to translate data into actionable information.
  • Ability to effectively multi-task and successfully work on several unrelated projects at the same time as well as adapt to changing and competing priorities.
  • Experience with operational risk framework and related processes.

  • 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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