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 $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.
Risk management at Wells Fargo is organized with clearly defined lines of defense to provide effective risk oversight and decision-making across the organization. Each line of defense is assigned specific responsibilities and understands the associated activities it is expected to perform.
Independent risk management is Corporate Risk, which is responsible for independent oversight of risk-taking activities. The function is led by the chief risk officer, who reports to the chair of the Risk Committee of the Board of Directors. Strategic enterprise function-aligned leaders in the Corporate Risk organization provide an independent view of horizontal, cross-business risks.
Wholesale Banking provides financial solutions to businesses across the United States and globally, with annual sales generally in excess of $5 million. Their 10 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 Insurance, Wells Fargo Securities, and Principal Investments.
The Operational Risk Business Oversight leader is responsible for the independent oversight of front line operational risk management effectiveness, and is expected to engage with senior leaders within the business to influence and challenge risk management activities and decisions. Operational risk is the risk resulting from inadequate or failed internal controls and processes, people and systems, or resulting from external events. Operational risk is inherent in all Wells Fargo products and services as it often arises in the presence of other risk types.
This role will serve as the key point of contact for Wholesale for all matters pertaining to Operational Risk and is considered a thought leader for operational risk activities across Wholesale Banking. In this capacity, this role reviews and challenges significant Front Line operational risk program execution, including business continuity, payments, external fraud, information risk management, safety and physical security, transaction processing and execution, and third-party risk management policies and programs.
Specific responsibilities include:
- Use subject matter expertise and industry knowledge to provide independent oversight and credible challenge to the Line of Business’s operational risk management activities
- Direct engagement with the senior Control Executive leaders, Business Heads and Independent Risk leaders to promote a strong operational risk culture
- Active engagement in key front line governance routines inclusive of strategic planning sessions, governance committees and business reviews
- Oversee and challenge the front line across all operational risk routines including – plan, identify and assess, control and mitigate, test and validate, monitor and report
- Perform independent risk assessment of the Front Line, inclusive of emerging risks
- Review and challenge of front line risk acceptances and new business initiatives
- Identify and escalate to senior leadership conflicts with risk management results and expected business outcomes
- Influence appropriate risk management prioritization by the front line to enable the business to meet strategic objectives, while meeting operational risk program expectations
- Evaluate cross-program and cross-group analytics to identify opportunities and best practices to influence stronger risk management practices by the business
- Active, routine engagement with senior Independent Risk Management leaders to ensure information sharing across Risk Types
- Develop and deliver content to senior business, Independent Risk, WFAS and regulatory leaders summarizing the results of the independent risk assessment activities
- Manage relationships with Business Heads, Independent Risk Management, Group Control Executives, Legal, Audit and multiple Regulators
- Direct IRM-sourced issues to the Front Line as needed
- Provide a business-centric view to IRM Risk Programs as needed
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 relevant regulatory agencies.
A successful candidate will have the experience and ability to:
- Successfully review and challenge business operational risk management practices and outcomes.
- 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.
- Leverage their experience to bring industry leading standards, practices and tools to the organization.
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability. It requires a leader 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.
**Open to any location in the Wells Fargo footprintRequired Qualifications
- 12+ 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 12+ 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
- 10+ 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
- Meaningful knowledge across enterprise risk management framework, including: risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance.
- Deep technical understanding of specific Wholesale business operations, processes, products and customer interactions and where they manifest risk.
- Strong interpersonal, influencing, and communications skills with an ability to interact effectively with stakeholders at all levels, and regulators, to include virtual, matrixed leadership experience and the ability to effectively manage and build relationships within the business and enterprise Risk function.
- Proven leadership skills to drive alignment across stakeholder groups to develop and deliver repeatable end to end risk management solutions
- Deep understanding of corporate/business policies, and programs
- Demonstrated leadership ability that embodies the Wells Fargo Vision and Values and leadership competencies
- Proven ability to build and lead senior leaders and a high performing risk management organization in a matrixed environment, ensure proper staffing and expertise exists and can coach and enable others in risk management and risk ownership.
- Flexibility and business savvy to navigate a complex, highly-matrixed organization.
- Experience providing reporting and updates to senior-level management.
- Experience communicating with regulators, auditors and other oversight bodies.
- Relevant Masters or Graduate degree
- 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.