Corporate Risk provides senior management and the Board with an independent perspective of the level of risk to which the Company is exposed and helps identify areas that may become major strategic or reputation risk for the Company. Corporate Risk's responsibilities include among others, developing, reviewing, and implementing company-wide risk governance documents; reporting on risk appetite and inner and outer boundary metric triggers; and credibly challenging Front Line risk decisions. Corporate Compliance
Wells Fargo Compliance is the company's compliance Independent Risk Review function, providing company-wide leadership, standards, support, and independent oversight to ensure that all 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 supports compliance risk management activities across the enterprise.
Enterprise Functions Compliance (EFC) is responsible for overseeing compliance risk management across corporate staff functions, including Enterprise Risk. In addition, the group oversees regulatory requirements aligned to other Risk functions as well as a number of regulations and compliance programs that cross multiple lines of business. The Role
The EFC Lead Compliance Officer will oversee and execute EFC activities across the APAC region, including management of regulatory changes and oversight of Enterprise Functions regulatory requirements managed by other Risk groups. The role will also support the creation and support of Legal Entity Compliance risk assessments for the APAC region. This role will work across the enterprise, requiring relationships with various key stakeholders including Enterprise Functions Compliance, Finance, Legal, Corporate Risk, Human Resources, and Technology. The role will drive consistent processes for end-to-end assessment and management of specific regulatory compliance risks in the APAC region and across the enterprise enabling Wells Fargo to demonstrate compliance with applicable laws, rules, and regulations . Responsibilities:
The APAC Region Enterprise Functions Compliance (EFC) Lead Compliance Officer strives to foster an environment that ensures strong communication and cooperation among the three lines of defense and sustains a strong risk culture that identifies and provides oversight and escalation of existing and emerging compliance risk exposures across business groups, legal entities, geographies, and jurisdictions.
The APAC Region EFC Lead Compliance Officer will run a small compliance team and is accountable for coordinating with Enterprise Functions and LOB Compliance teams to ensure appropriate compliance coverage and compliance program execution for all enterprise functions, including Enterprise Finance, Technology and Data, Corporate Risk, Human Resources and Stakeholder Relations. This will include, in coordination with compliance officers in EFC and other functions, coverage of:
- Managing the EFC requirements of the Compliance Program in the APAC region
- Managing or oversight (as appropriate) of those APAC Region Major Compliance Requirements (MCR) that relate to Enterprise Functions
- Providing oversight for Enterprise Control Activity in the APAC region relating to Third Party Risk Management, Outsourcing, Accounting and Reporting (including Tax), Human Resources, Legal, Technology and Data;
- Interacting and collaborating with regional and enterprise EFC for key projects and processes concerning enterprise functions; and
- Supporting the APAC Compliance Department with producing a single regulatory view of APAC Region Compliance risk (inclusive of EFC).
- The APAC Region EFC Lead Compliance Officer will also support areas including but not limited to:
- Regulatory change management;
- Major Compliance Requirement Evaluations;
- Control identification and/or development;
- Credible challenge of business process management;
- New business initiatives and product management;
- Annual Compliance plan;
- Compliance Aggregated Risk Assessment (CARA);
- Compliance executive reporting;
- Compliance monitoring coordination; and
- Compliance issue management and escalation.
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. 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. The role requires a sense of urgency, passion for results, and personal accountability for achievement. 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 5+ years must include direct experience in compliance, operational risk management, or a combination of both
- Advanced Microsoft Office skills
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to interact with all levels of an organization
- Knowledge/Skills/Ability to prepare presentations, management reporting, and statistical analysis
We Value Diversity
- Demonstrated experience working with banking regulations and/or prudential regulatory guidance.
- Demonstrated experience with regulatory change management, including monitoring new regulations or changes to existing regulations to determine impact.
- Experience in identifying and assessing emerging regulatory compliance risk associated with Enterprise Functions.
- Experience communicating with financial services regulators and or internal audit.
- Ability to integrate end-to-end business process knowledge and assessment into oversight activities.
- Experience with conducting risk assessments - assessing the adequacy of policies, procedures, processes, and compliance and operational controls in a significantly large and complex organization
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, or status as a protected veteran.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.