Acct Governance & Oversight Consultant 1
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries 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. 30 on Fortune's 2015 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
Wells Fargo is seeking a highly motivated individual to join a team of COSO testing professionals and will have enterprise-wide exposure to key stakeholders within the external financial/risk/regulatory reporting infrastructure. The Enterprise COSO Testing team is a component of Enterprise Controls & Oversight in Corporate Controllers.
The successful candidate will be a highly motivated team player that is a self-starter who is accustomed to working in complex organizations with a diverse group of stakeholders, and someone who is able to withstand challenges and adapt accordingly. This individual should have COSO testing experience and practical experience with financial reports filed with the regulatory agencies (FRB, OCC, FDIC). Additionally, the candidate should possess a significant amount of professional presence and be accustomed to presenting material to senior executives.
The Enterprise COSO team supports the Company's on-going objective of maintaining an industry leading financial reporting control environment and is responsible for the following directives:
- Providing meaningful assessments of financial, risk, and regulatory reporting control environment;
- Overseeing compliance with Well Fargo & Company's COSO based policies for internal controls over financial reporting (SEC and Regulatory Reporting) and strategic planning for on-going compliance with the COSO polices (proactive anticipation of internal control related matters);
- Monitoring new and emerging internal control related guidance and issues and assist with facilitating group-wide training to interested and impacted stakeholders;
- Providing consultation and subject matter expertise for process and control related matters including evaluating severity of control deficiencies and related remediation efforts;
- Providing process and control support and thought leadership for projects;
- Interfacing with external auditors, regulators and others on control related matters; and,
- Acting as a change agent for continual improvement of the control environment.
This individual will be a member of the Enterprise COSO team responsible for the following team directives:
- Performing COSO Monitoring team responsibilities including:
- Performing walkthroughs of significant processes and ensure required COSO documentation is accurate and reflects relevant risk and key controls;
- Validating and challenging risk assessment conclusions, including assessing appropriateness and completeness of key risk and key controls identified;
- Validating and providing credible challenge to identified shared services, third party service providers, and significant applications;
- Performing COSO testing of key controls, including design effectiveness assessments and operating effectiveness testing;
- Validating and challenging documentation of control deficiencies, including issue description, root cause, unmitigated impact, and corrective actions;
- Analyzing the severity of control deficiencies, both individually and in the aggregate, and the impact to internal control over financial reporting;
- Assessing the components of internal control for the business unit;
- Monitoring open control deficiencies and validating corrective actions.
- Building relationships and collaborating with key stakeholders in the SEC and Regulatory Reporting internal control infrastructures; and,
- Assisting with projects impacting the team including implementing the Company's COSO-based Regulatory Reporting Governance & Oversight Framework and the 2013 COSO Framework.
- 4+ years of experience in one or a combination of the following: accounting, consulting, or public accounting
- A BS/BA degree or higher in accounting, finance, or economics
- Big four public accounting experience
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Ability to take on a high level of responsibility, initiative, and accountability
- Excellent verbal, written, and interpersonal communication skills
- Intermediate Microsoft Office skills
Other Desired Qualifications
- Knowledge and understanding of regulatory agencies: Federal Reserve and OCC
- Internal controls testing experience
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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Lauren audits Wells Fargo’s financial reports to assess accuracy and risk. She reviews processes in place, analyzes management controls, and communicates calculations and findings with business partners.
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