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.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 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 8,500 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 273,000 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 perspective from Wells Fargo are also available at Wells Fargo Stories.
Wells Fargo's Risk Management is organized along three lines of defense, each of which has distinct objectives and responsibilities. This integrated risk management approach is built on strong relationships and willing partnerships—it promotes greater coordination and communication among the three lines, and strengthens independent oversight by both Corporate Risk and independent assurance by Wells Fargo Audit Services. Wells Fargo views risk management as a strategic priority using sophisticated models, tools, and analytics to support our customers and to monitor and manage our business each day. We look at the risk and reward relationship in every deal that we do and in every decision that we make. We look across the spectrum to understand risks and how they interrelate, both in the analytics we use and in the way our risk managers work together. We take an enterprise-wide view of current and emerging risks, advising senior leaders and our Board of Directors in identifying and monitoring risks that may affect multiple Wells Fargo lines of business, and take appropriate action when business activities exceed the risk tolerance of the firm.
Corporate Operational Risk Group
Within Corporate Risk, the Operational Risk Group is responsible for independently overseeing the management of operational risk exposures (including monitoring and reporting on aggregate operational risk exposures across groups, legal entities, geographies and jurisdictions) and the quality of operational risk management practices across the company. Responsibilities of this group include:
- Developing, maintaining, and ensuring adherence to enterprise-wide risk frameworks, policies, standards and procedures that are aligned with the board-approved risk appetite statements;
- Providing subject matter expertise, advising on risk management best practices and conducting analysis to strengthen risk posture;
- Oversee first line of defense in implementing the requisite controls, processes, and systems to comply with applicable laws, rules and regulations, as well as Wells Fargo frameworks, policies and procedures;
- Credibly challenging management’s decisions, business processes and activities; and
- Escalating operational and compliance concerns and issues (including breaches and near breaches of relevant risk appetite tolerances and limits) to senior management and the Board, as appropriate.
This is an exciting opportunity to join a new team and function committed to providing Wells Fargo with world-class technology risk management.
This newly created role, as a member of our Operational Risk Management team, will be responsible for leading Independent Risk Management of Third Party Risk at the firm. This will include focused on oversight and governance of risks generated from the utilization of third parties and encompasses activities across each stage of the third party life cycle. This will be a high-profile role providing regular independent reporting to risk management committees and quarterly reporting to the Risk Committee of the Board. The role will have the stature and authority to credibly challenge and enforce line of business compliance to the risk management and third party administration programs. Key responsibilities include:
- Providing independent risk management oversight of operational risks generating from activities and functions which occur during the use of third parties. These activities and functions include but are not limited to people, process, technology and external events.
- Design, promote, and maintain a risk management framework that provides an independent view of risk and risk management processes associated with the control/mitigation related to third parties.
- Ensure company-wide understanding of third party regulatory requirements and maintain alignment with Corporate Operational Risk Oversight and Governance expectations
- Ensuring the enterprise has the right people, processes and systems in place to ensure third party solutions and practices to meet risk requirements for Wells Fargo businesses and core functional organizations (e.g. Business Continuity, Information Security and other operational risks).
- Providing oversight and challenge to ensure risk management decisions consider all types of operational risks (e.g. business services vs. security) in order to achieve the appropriate residual risk for Wells Fargo.
- Ensuring risk requirements are built into each stage of the third party life cycle and into required business practices.
- Evaluating third party entities current and future capabilities while balancing risks associated with potential partnerships with Wells Fargo.
- Overseeing business teams and subject matter experts with ongoing assessments of the third party environment as they relate to managing operational risk, including the development of automated, efficient control performance monitoring.
- Identifying and reporting aggregate risks to the enterprise generating from specific third parties who may be performing functions and activities across several lines of business or enterprise functions.
- Apply subject matter expertise to review, interpret and challenge strategies which utilize third party solutions to ensure compliance requirements and risk mitigation expectations are with the firm’s risk appetite.
- Overseeing and credibly challenging business and third party executives/teams on existing and new third party solutions.
- Formulating independent risk management points of view as to the overall risk profile of covered third party domains, programs/initiatives and all stages of the third party life cycle.
- Identifying and appropriately escalating operational risks that exceed risk appetite.
- Ensuring risks are incorporated into ongoing operational risk assessment activates.
- Providing strategic direction and consultation to business and enterprise functions utilizing third parties as a resourcing strategy.
- Leading, operating and responding to real time challenges, given the dynamic nature of the business and third party environment.
- Being an effective change agent, identifying new and innovative ways to apply third party solutions to enable the business vision relative to managing operational risk.
- Lead a team that supports and coordinates risk management efforts with other IRM programs in the firm, including but not limited to:
- Business-Aligned Operational Risk teams
- IRM Operational Risk Type teams
- Business Process Risk Management Program
- Enterprise Risk Identification Program
- Operational Risk Assessment & Insights / Risk & Control Self-Assessment Program
- Key Indicator Program
- Risk Appetite Program
- Stress Testing Program
This position requires business engagement, to drive and effect change. This position will partner with both internal and external stakeholders, including senior management from all three lines of defense, as well as agency representatives from the Federal Reserve Bank (FRB) and the Office of the Comptroller of the Currency (OCC).
- A successful candidate will have the experience and ability to successfully develop and lead a team that is responsible for identifying, assessing, measuring, mitigating, monitoring, controlling and reporting current, aggregate and emerging operational risk exposures.
- Will be required to build and sustain a strong risk culture including a balanced approach through working in cooperation and consultation with all lines of defense across the enterprise.
- Should be a strong leader to leverage their deep transformative experience and bring industry leading standards, practices and tools.
- Display as strong regulator acumen and an ability to influence stakeholders.
As a Team Member Manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
- Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
- Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
Locations: Charlotte, NC, Phoenix, AZ, Minneapolis, MN, New York City, NY, San Francisco, CA; all major WF Hubs will be consideredRequired Qualifications
- 15+ years of risk management-related and leadership experience in multiple, large, and complex businesses
- 10+ years of management experience
- 15+ years of experience in third party, operational risk management (including audit, legal, supply chain management, and compliance) or a combination of the two.
- 3+ years of experience in enterprise level management roles
- Experience developing strategic plans inclusive of third party solutions
- Experience in sourcing and negotiating of multi-million dollar contracts
- Experience in evaluating and managing third party operational performance and control environments of third party entities
- Strong leader with 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
- Experience leading transformations and driving large-scale change across multiple areas of a corporation.
- Self-motivated and able to adapt to dynamic work environment with multiple priorities and strict timelines.
- Proven ability to develop and articulate sound proposals to key stakeholders, including ability to influence and drive timely decision making.
- Proven ability to cultivate relationships and collaborate with multiple stakeholders, including business leaders, legal, audit and multiple US and non-US regulators.
- Ability to translate ambiguous ideas/issues into well-defined plans/solutions.
- Ability to anticipate and ask the right questions to assess all facets of an effort.
- Strong analytical and problem solving skills.
- Organizational courage - willingness to make tough, informed decisions and thoughtfully share independent perspectives weighing business advancement against associated risk.
- Proven experience quantifying and assessing risks, developing alternative solutions and translating information into a concise, meaningful summary for multiple audiences.
- Advanced degree preferred (Masters, MBA or JD)
- Risk and Control Self-Assessment (RCSA) experience
- Key Risk Indicator (KRI), Key Performance Indicator (KPI), and/or Risk Appetite experience
- Stress Testing (CCAR, DFAST) experience
- 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.