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VP, Third Party Operational Risk

Wells Fargo | Toronto ON M9N2Y9 CAN | Full Time | Posted: 02/25/2020

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About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading global financial services company with $2.0 trillion in assets and offices in over 37 countries. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides asset management, capital raising and advisory, financing, foreign exchange, payments, risk management, and trade finance services to support customers who conduct business in the global economy. At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We also value the viewpoints of our team members and encourage them to be their best. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. Learn more at our International Careers website.


Market Job Description

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Third Party Risk Management provides critical independent risk management coverage. Key activities include review and credible challenge of third party sourcing and management solutions, monitoring controls, oversight of risks/mitigation plans, project status reporting and operational risk domain artifacts used as part of the regulatory reporting process with aggregation points covering the Canada and Latin America Region. All functions for International Third Party Risk Management will be executed in accordance to Technology Third Party and Information Risk Management Oversight processes and procedures.

Key responsibilities:

  • Based in Toronto, the VP, Third Party Operational Risk will have solid line reporting to the Regional Head of Technology, Third Party and Information Risk Management Oversight (TTIRO), (who reports solid line into the Head of Operational Risk for the Americas Region) with dotted line reporting to International TTIRO and will execute their duties in alignment with the programs established by the TTIRO Third Party Risk Management program
  • Execute duties on behalf of the region and ensure that the third party risk management oversight services provided by TTIRO meet the needs of the Regional Heads of Operational Risk that have accountability to the local regulators
  • Coordinate/ execute TTIRO processes such as Monitoring and Reporting, Point of View Papers, Credible Challenge, Risk Identification and Assessment and escalation of third party risks per the agreed engagement model between TTIRO and Regional Operational Risk
  • Review and challenge on behalf of the regional legal entities that require evidence that the Risk Management Framework is being executed for the Americas region and associated legal entities
  • Work with TTIRO and the Regional Operational Risk team to lead, guide, review/challenge front line control groups such as Third Party Centre of Excellence and Supply Chain Management
  • Accountable for expanding the current coverage to include oversight of internal outsourcing, external outsourcing, and chain outsourcing arrangements in line with regional regulatory requirements.
  • At the request of the Head of Operational Risk they may attend steering committees / risk committees and work groups to ensure appropriate operational risk management coverage for third party risk
  • Analyzing issues and risks generated from enterprise sourcing and third party management programs; this includes but is not limited to aggregate risks being accumulated at an enterprise level, control weaknesses and to evaluation the risk of solutions not meeting Canada and Latin America requirements
  • Producing management and operational risk reporting as applicable

Market Skills and Certifications

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Minimum requirements:
  • 7+ years of experience in risk management (include compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management
  • 5+ years demonstrating the ability to build out an effective Affiliate Program that covers regulatory expectations for Canada and Latin America
  • Direct experience in interaction with regulators
  • Excellent verbal, written, and interpersonal communication skills
  • Demonstrated ability to develop written program materials, including executive level reporting
  • Ability to write executive level summary reports on complex topics
  • Expert knowledge of third party rules and guidance across financial services regulators for Canada and Latin America
  • Advanced Microsoft Office skills

Preferred skills:
  • Ability to work in ambiguous circumstances with a penchant for building structure and scalable processes
  • Certifications such as Certified Third Party Risk Professional (CTPRP), Certified in Risk and Information System Controls or other relevant operational risk certifications
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization, and work collaboratively and influence in a highly matrixed environment
  • Experience with the oversight of third party affiliates including internal outsourcing activities supporting Canada and Latin America
  • Working in a large multi-national with a US parent and licensed legal entities internationally
  • Oversight in a formally regulated financial services environment
  • Understanding of formal governance structures – committee structures – committee participation – formal escalation, risk appetite
  • Experience with the oversight within the construct of a legal entity with a parent that provides services that are considered “internal outsourcing” by international regulators

We Value Diversity

oQ.ClassName != 'jobdescriptionInJobDetails'" ng-class="oQ.ClassName" j-query="html(oQ.AnswerValue)" class="answer ng-scope section2LeftfieldsInJobDetails jobDetailTextArea">At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

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.

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Location Toronto, ON, M9N2Y9, Canada
Categories Quality Assurance/Safety

Location Maptop

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Job Code 46007BR
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