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Operational Risk Consultant 3 (Commercial Capital)

Wells Fargo | Denver CO 80299 USA | Full Time | Posted: 08/16/2019

Job Descriptiontop

Job Description

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.

Wholesale Banking provides financial solutions to businesses across the United States and globally.  Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital.  We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Wholesale Control (WC)
The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution.  The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management.  The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale.  Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale. 

The Role
Wells Fargo Commercial Capital Business Control provides operational risk, regulatory control, financial crimes and business control management services through an optimized model which leverages centralized functions and agile business focused teams to support sound risk management for the Capital Finance, Commercial Distribution Finance, Corporate Trust Services, Equipment Finance, International Trade Services, Strategic Capital and Renewable Energy & Environmental Finance lines of business. The risk management team enables efficient and effective execution of Corporate, Wholesale, and Line of Business programs, policies, and procedures to ensure alignment with the overarching risk management priorities of Wells Fargo while meeting the unique needs of each business.

The Operational Risk Consultant will work with the designated Wells Fargo Commercial Capital lines of business (LOBs) as both the Wholesale Fraud Risk Management (WFRM) and Wholesale Anti-Bribery Corruption (ABC) teams’ primary liaison to implement and execute all required Fraud and ABC Program deliverables. This position will serve as an expert on the Wholesale WFRM Program and ensure that subject matter experts are engaged in support of the Program deliverables. The Operational Risk Consultant will ensure that fraud and ABC risk is managed in an intentional and proactive manner.

Individual Responsibilities

  • Understand the incidents of fraud in the business and changes to the external and internal environment that could impact the fraud risk profile
  • Ensure fraud risks/controls are called out in BPRM process maps and that those risks and controls are properly evaluated in RCSA
  • Ensure desktop procedures associated with high risk processes with fraud risk, or processes with high inherent fraud risk are adequate to mitigate that risk and executed as designed
  • Ensure fraud risks are appropriately considered for new or modified products, or product retirements in the RANBI tool per the New Business Initiatives Risk Management Policy and that the Global Regions New Initiatives Committee is engaged when necessary
  • Identify and maintain fraud risk scenarios and their corresponding red flags and controls for inclusion in the Fraud Scenario Library; identify OUS Regional applicability of the scenarios and controls.  Participate in the Quarterly Fraud Risk Evaluation meeting to assess impacts to the business fraud risk profile and changes required to the Fraud Scenario Library
  • Support Fraud Program MPR and BPRM centralized testing activities and ensure any required remediation is completed across the business and in the OUS Regional business operations, as necessary
  • Develop and maintain business-specific UAR procedures that contain fraud scenarios and red flags, and the guidelines and requirements for the escalation of fraud-related unusual activity and UAR submission        
  • Ensure records are maintained to demonstrate the training provided to business team members, managed resources, and/or third party service providers who perform a fraud prevention or detection function on the purpose and means of properly executing the activity
  • Ensure external fraud activity is considered against the Significant Fraud Incident (SFI) criteria.  Serve as the quarterback in the completion of post mortem assessments for external and internal SFIs and ensure that identified remediation activities are completed in the business’ domestic and international operations as needed
  • Consider whether Internal Investigations findings warrant changes to processes, procedures, or controls; ensure changes are implemented in any OUS Region where the activity occurs. 
  • Contribute to Operational Risk Retrospective Reviews when required
  • Ensure losses associated with SFIs are booked to the proper G/L and enriched in ORE as necessary
  • Provide explanations for fraud loss boundary breaches tied to risk appetite statements per the Enterprise Risk Appetite Procedures
  • Develop and maintain the FRS Task Summary Exhibit that reflects how Fraud Program deliverables are managed and completed in accordance with the Wholesale Fraud Risk Management Framework
  • Ensure completion of the Identity Theft Prevention Program annual Risk Assessment, including a Covered Account Inventory.  If applicable, assess identity theft red flags, identify detection and response procedures, provide a listing of all significant identity theft incidents, and review third-party service providers who perform ID theft detection or prevention processes
  • Ensure processes are in place to track identity theft incidents within the business, as applicable
  • Ensure training and/or communication processes are in place to inform business team members of example identity theft incidents and to provide guidance on appropriate tracking and reporting processes when incidents are discovered
  • Assist FCRM and the Lines of Business (LOB) in determining the inherent risk of bribery and corruption in the businesses’ activities and functions
  • On a quarterly basis LOB ABC Contacts gather the required data from event hosts (cost, attendee) or coordinators on non-facilitated events sponsored by the businesses.
  • When required, ensure and collect from LOBs proper documentation of expense records including, but not limited to, the recording of expenses in Concur.

Team members 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.



Required Qualifications

  • 2+ 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
  • 2+ years of experience in one or a combination of the following: additional compliance, additional operational risk management, IT systems security, business process management or financial services industry experience; or a BS/BA degree or higher in business or a related field



Desired Qualifications

  • Intermediate 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



Other Desired Qualifications
  • Knowledge across enterprise fraud risk management framework, including: inherent fraud risk identification, fraud risk controls, and residual fraud risk for the designated LOB.
  • Understanding of best-practice fraud risk management techniques applicable for LOBs similar to those found in the designated LOB.
  • Knowledge of relevant financial regulations and understanding of how they are implemented, managed and enforced in LOBs similar to those found in the designated LOB.
  • Working knowledge of Wells Fargo Capital Finance and/or Commercial Distribution Finance processes and systems is a plus
  • Deep technical understanding of specific 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 and regulators, to include virtual, matrixed leadership experience and the ability to effectively manage and build relationships within the business and enterprise Risk function.
  • Demonstrated leadership ability that embodies the Wells Fargo Vision & Values and leadership competencies.
  • Ethical integrity and demonstrated ability to assess and determine when to raise concerns and escalate.
  • Ability to design and implement control analytics and reporting to drive effective decision making and results.
  • Demonstrated ability to solve problems and analyze issues when data is collected from multiple sources and know how to ask the right questions to obtain the information needed to properly assess potential risks. 




Salary Information

The salary range displayed below is based on a Full-time 40 hour a week schedule.

MN-Minneapolis: Min: $62,100 Mid: $87,400
IA-West Des Moines: Min: $62,100 Mid: $87,400
CO-Denver: Min: $62,100 Mid: $87,400
TX-DAL-North Dallas: Min: $62,100 Mid: $87,400
UT-Salt Lake City: Min: $62,100 Mid: $87,400
GA-Atlanta: Min: $62,100 Mid: $87,400
MO-Saint Louis: Min: $62,100 Mid: $87,400



Street Address

GA-Atlanta: 3579 Atlanta Ave - Atlanta, GA
MN-Minneapolis: 90 S 7th St - Minneapolis, MN
IA-West Des Moines: 7000 Vista Drive - West Des Moines, IA
UT-Salt Lake City: 299 S Main St - Salt Lake City, UT
CO-Denver: 1700 Lincoln St - Denver, CO
MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO
TX-DAL-North Dallas: 14241 Dallas Parkway - Dallas, TX



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.

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Location Denver, CO, 80299, United States
Categories Quality Assurance/Safety

Location Maptop

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Job Code 5504364-3
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