Wells Fargo is seeking an Operational Risk Executive
In this role, you will:
Corporate Operational Risk Management 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.
The Financial Reporting and Controller Risk Oversight Leader (FRCRO) role is responsible for helping to guide the overall operational risk organization and driving implementation of the operational risk framework across the front lines. The role is responsible for independent oversight of Finance/Controller operational risk management capabilities and execution as well as enterprise-wide Financial Reporting Risk (FRR). This role is expected to engage with front line leaders and other stakeholders to influence risk management activities and decisions. The position includes primary responsibility for driving critical operational risk programs including risk and control self-assessments (RCSA), operational risk events, scenario analysis, operational risk capital and stress testing and other critical activities. The role is accountable for independent oversight of Finance/Controller exposures related to financial reporting risk, data risk, technology risk, business continuity, payments, information security risk, safety and physical security, transaction processing and execution, and third-party risk management. The risk professional in this role will be accountable for developing an understanding of the Finance functions, products, services and relevant industry issues. Additionally, the FRCRO Leader will be accountable for enterprise-wide oversight of FRR, including risk identification, risk analysis, and maintaining an enterprise-wide profile for this Level 2 risk type. FRR Oversight duties include appropriate integration with BG/EF ORBO teams to provide FRR subject-matter expertise.
Specific responsibilities include:
Oversee and challenge the Finance function across all aspects of the risk management life cycle (plan, identify and assess, control, monitor and report, test and validate).
Perform independent risk assessment of the Finance function, with emphasis on the Controller function, including all Operational Risk Business Oversight (ORBO) requirements.
Perform independent risk oversight (including risk identification, risk analysis and risk profiling) of enterprise-wide FRR including all Risk Type Team (RTT) requirements.
Review and challenge Finance risk acceptances and new business initiatives.
Use subject matter expertise and industry knowledge to provide independent oversight and credible challenge to Finance's operational risk management activities.
Engage with Finance leadership, Control Executive teams, Business Management and Independent Risk teams to promote a strong operational risk culture.
Actively engage in key Finance risk governance routines including strategic planning sessions, governance committees and business reviews.
Identify and escalate conflicts related to risk management results and expected business outcomes.
Influence appropriate risk management prioritization by the front line to enable Finance 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.
Active engagement with IRM risk teams supporting various risk types to ensure appropriate alignment and prioritization.
Develop and deliver oversight content summarizing the results of independent risk assessment activities.
Provide a business-centric view to IRM risk programs as needed.
Engage with front lines, as appropriate, to effect changes to the operational risk program.
Communicate with both internal and external stakeholders, including all three lines of defense and various regulatory agencies.
Required Qualifications:
8+ years of Operational Risk experience or equivalent experience demonstrated through one or a combination of the following: work experience, training, military experience, education
4+ years of Management experience
Desired Qualifications:
10+ 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 10+ 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.
7+ years of leadership experience.
5+ years of Finance experience and a working knowledge of the Finance function (Controller, Financial/Regulatory Reporting, Treasury, Investment Portfolio, Business Finance, Corporate Finance) business operations, processes, and products.
5+ years of experience with regulatory reporting and assessment of internal controls.
Experience with capital markets products including fixed income, equities and derivatives.
Experience and ability to successfully develop and lead a diverse team.
Experience building and maintaining operational risk programs at scale with an understanding of regulatory and industry requirements and best practices.
Strong executive presence, communication and influencing skills with an ability to interact effectively with a broad range of stakeholders at multiple levels of seniority.
Proven independent risk management experience including effectively developing and implementing risk management frameworks and policies, oversight and challenge of front line risk, and operational risk reporting.
Proven ability to lead teams supporting complex businesses in a matrixed environment.
Proven implementation of effective governance processes and strong understanding of the regulatory environment and expectations, including effective management of relationships with regulators.
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.
Ability to constructively lead change in an organization commensurate with Wells Fargo's size, scale and complexity and ability to drive 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.
Strong analytical skills with attention to detail and accuracy.
Meaningful knowledge across enterprise risk management framework, including: risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance.
Demonstrated leadership ability that embodies the Wells Fargo vision, values and leadership competencies.
Job Expectations:
Ability to travel up to 10% of the time
Pay Range
Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates. $207,900.00 - $431,900.00 Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance
Parental leave
Critical caregiving leave
Discounts and savings
Commuter benefits
Tuition reimbursement
Scholarships for dependent children
Adoption reimbursement
Posting End Date: 23 Oct 2024 * Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees 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 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.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.