Company Name:

Wells Fargo

Location:

Phoenix, Arizona

Approximate Salary:

Not Specified

Posted

December 7, 2018

Compliance Consultant 4 - Service Members Civil Relief Act/Military Lending Act Regulatory Source Owner Partner

Job Description

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.

Wells Fargo Compliance is the company s compliance independent risk management function, providing company-wide leadership, standards, support, and independent oversight to ensure that all front-line 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.

In mid-2017, Wells Fargo began the process of centralizing compliance support for the Servicemembers Civil Relief Act Center of Excellence (SCRA COE) within one team. The intent behind this endeavor was to improve efficiency and alignment with regard to the SCRA/MLA cross-enterprise compliance function. The team provides day-to-day support for the SCRA COE and performs the Independent Risk Management function for SCRA and Military Lending Act (MLA).

Responsible for assisting the regulation source owner (RSO), to include the following:

Play a significant role conducting compliance risk-management oversight for enterprise functions through independent evaluations of the compliance program effectiveness for a number of corporate staff functions. As part of the role, the successful candidate will be responsible for evaluating the business program ability to identify and understand applicable risks, including regulatory source expectations, as well as the function s risk management practices to assess, mitigate, and oversee effective control of these risks through governance, policies, procedures, training and awareness, metrics and reporting, and issue identification and escalation. This position will play a role in engaging appropriate subject matter experts (SMEs) to assist with the assessment and mitigation of risks related to enterprise functions, as well as interact with other risk professionals on our team.

Serves as a subject matter expert in their assigned regulatory scope and is integral in supporting Wells Fargo s ability to meet its regulatory compliance risk obligations and commitments. RSO s are responsible for overseeing and assessing compliance with the laws, rules, regulations, and regulatory guidance ( regulatory sources ) that have been assigned to them. Responsibilities include developing a full understanding of assigned regulatory sources and their applicability and impact to Wells Fargo s operations and leveraging that expertise to partner with impacted staff areas, lines of business, and the Legal Department. RSO activities inform appropriate regulatory compliance risk managers of the company s performance in complying with regulatory source and internal policy requirements.

The successful candidate will have a solid understanding of complex regulatory structures and requirements and the ability to communicate that complexity crisply to facilitate shared understanding across multiple stakeholders, including senior risk leadership, to drive efficient and effective execution of regulatory requirements and associated compliance activities. This includes development of major requirements for assigned regulatory sources and guidance, assignment or development of controls, establishment of control review guidelines, and the performance of periodic horizontal reviews, complete documentation within Wells Fargo s systems of record, and consolidation of information to inform concise and relevant state of compliance reporting.

RSO s advise and support lines of business (LOBs), including the business groups of which they are a part. Examples of responsibilities include:

  • Communities of Practice
  • Risk Identification
  • Regulatory Examinations and Wells Fargo Audit Services Activities
  • Development of Mitigating Controls
  • Training
  • Risk Metrics and Reporting
  • RSO s administer the risk assessment process and maintain process maps for certain regulations. Examples of responsibilities include:
  • Major Compliance Requirement (MCR) Documentation
  • Regulatory Source Enterprise Inherent Risk Rating
  • MR External Risk Intensity Rating
  • Credible Challenge of LOB s MCR Accept/Reject Process
  • Credible Challenge of Businesses Mitigating Controls and Residual Risk Ratings

Certain RSO s (those with assigned regulatory sources that are company-wide or affect more than one line of business or region) perform horizontal reviews to ensure consistent and appropriate application of mitigating controls.

As needed, provide assistance to the broader SCRA/MLA Compliance Team.

Preferred locations include Charlotte, Des Moines, Phoenix, and San Antonio. May consider other WF HUB locations or telecommuting for well-qualified candidates.

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

  • 6+ 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 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both


Desired Qualifications

  • A BS/BA degree or higher
  • Service Members Civil Relief Act (SCRA) experience
  • Ability to create and improve process through strategic thinking
  • Ability to manage multiple and competing priorities
  • Ability to take initiative and work independently with minimal supervision in a structured environment
  • Ability to create and deliver dynamic presentations
  • Knowledge and understanding of Shared Risk Platform (SHRP) such as reporting and issue management
  • Ability to interact with all levels of an organization
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy


Other Desired Qualifications
  • Experience in design, implementation, and execution of compliance programs to ensure effective risk management
  • Ability to work both independently and collaboratively as part of a team and with senior business associates and other support partners, including the ability to negotiate with numerous parties with varying opinions and positions and reach agreeable solutions
  • Experience with Military Lending Act (MLA)
  • Ability to provide credible challenge, while exercising sound judgment and professionalism, in order to address a broad spectrum of risk issues, including how they apply to the businesses, taking into account relevant factors, alternate solutions, as well as escalation when appropriate
  • Experience with conducting risk assessments, assessing the adequacy of policies, procedures, processes, and compliance and operational controls in a significantly large and complex organization.
  • Ability to effectively identify and articulate risks, issues and associated root causes




Disclaimer


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.

Company Name:

Wells Fargo

Location:

Phoenix, Arizona

Approximate Salary:

Not Specified

Posted

December 7, 2018

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