Operational Risk Sr. Officer - Consumer & Small Business Banking
Wells FargoFull time Full day
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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. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.
Operational Risk Business Oversight (ORBO)
The ORBO team is responsible for aggregated business oversight and challenge of each front-line business unit within Wells Fargo. This team does targeted reviews of realized and emerging risks to identify opportunities to strengthen risk management practices related to controls. The team's mission is to drive improvement in operational risk management effectiveness and performance through comprehensive oversight of the front line, proactive independent risk reviews, and delivery of actionable Independent Risk Management (IRM) analytics and intelligence that support oversight and credible challenge activities.
This Operational Risk Business Oversight Sr. Officer is responsible for the independent oversight of front line operational risk management effectiveness of the Consumer and Small Business Banking (CSBB) business lines. This individual contributor is recognized as an industry or subject matter expert in operational risk. The role is expected to engage with senior business and risk 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 is responsible for developing, implementing and monitoring risk-based programs to identify, assess, and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency. This role will support an Operational Risk Business Oversight Leader for CSBB business lines with all matters pertaining to operational risk and is considered a thought leader and subject matter expert for operational risk activities across this business. In this capacity, this role reviews and challenges significant front line operational risk program execution, including, but not limited to, external fraud, information risk management, safety and physical security, transaction processing and execution, third-party risk management and various risk assessment policies and programs. This role will also develop detailed understanding of business strategy, the customer base, products and services and other relevant industry issues, frameworks and emerging risks.
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 Control Executive teams, 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
- Designs and develops the most complex testing strategies, methodologies and analyses; evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls
- Influence appropriate risk management prioritization by the front line to enable the business to meet strategic objectives, while meeting operational risk program expectations
- Works with the most complex business units and provides operational risk expertise and consulting for projects and initiatives with high risk, generally spanning multiple business lines.
- Evaluate cross-program and cross-group analytics to identify opportunities and best practices to influence stronger risk management practices by the business
- Analyzes extremely complex business and/or system changes to determine impact
- Identifies operational risk issues and may participate in the development of risk ratings
- Reports findings and develops business cases to influence executive management or management committee member/head of business on the need for controls to mitigate risk.
- Direct IRM-sourced issues to front line leadership as needed
- Provide a business-centric view to IRM Risk Programs as needed
Preferred locations for this position are Charlotte, NC; Minneapolis, MN; Des Moines, IA; Phoenix, AZ; St. Louis, MO; Dallas (Irving), TX.
Relocation assistance is not available for this position.
- 10+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 10+ years of financial services industry experience, of which 7+ years must include direct experience in risk management
- Ability to articulate complex concepts in a clear manner
- Ability to articulate issues, risks, and proposed solutions to various levels of staff and management
- Ability to influence and collaborate at all internal organizational levels
- Advanced Microsoft Office (Word, Excel, Outlook and PowerPoint) skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Strong relationship management skills
- Strong strategic and conceptual thinking skills
- Leadership skills including the ability to influence effectively in a matrix environment
Other Desired Qualifications
- 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 CSBB 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
- 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
- Ability to travel up to 10% of the time
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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