Wells Fargo Operational Risk Business Oversight Leader (ORM5) WF Advisors in New York, New York

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_.

Corporate Risk

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.

Wealth & Investment Management (WIM)

Wealth and Investment Management (WIM) businesses build enduring client relationships through sound, thoughtful and objective advice. They help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, insurance and both individual and institutional retirement.

The Wells Fargo Advisors Operational Risk Business Oversight leader is responsible for the independent oversight of front line operational risk management effectiveness of the Wells Fargo Advisors business. This 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 will serve as the key point of contact for WF Advisors for all matters pertaining to Operational Risk and is considered a thought leader and subject matter expert for operational risk activities across this business grouping. In this capacity, this role reviews and challenges significant Front Line operational risk program execution, including, but not limited to, payments, external fraud, information risk management, safety and physical security, transaction processing and execution, third-party risk management and various risk assessment policies and programs. The leader in 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 WF Advisors 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 WF Advisors front line, inclusive of emerging risks

  • Review and challenge of WF Advisors 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

The Candidate

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.

Required 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 management experience

Desired Qualifications:

  • 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

How to Express Interest in This Job: Wells Fargo invites you to apply for this job at https://employment.wellsfargo.com/psc/PSEA/APPLICANTNW/HRMS/c/HRSHRAMFL.HRSCGSEARCHFL.GBL?Page=HRSAPPJBPST_FL&FOCUS=Applicant&SiteId=1&JobOpeningId=5438630&PostingSeq=1.

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.

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.