Compliance Manager 4 - Tax Information Reporting Compliance Manager - Governance and Reporting
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
Wells Fargo Compliance is the company's compliance second line of defense 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 support for compliance risk management activities across the enterprise.
Enterprise Functions Compliance 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.
Tax Information Reporting Compliance is responsible for execution of the enterprise-wide compliance risk management activities across all platforms and impacted groups for global tax information reporting and withholding regulatory requirements related to customer activity and the provision of financial services and products. These requirements arise in the company's transactions with its customers as well as when it makes payments of reportable income to third parties.
This Tax Information Reporting (TIR) Compliance Manager will report directly to the Head of Tax Information Reporting Compliance and will manage a team responsible for executing the governance and reporting functions of the TIR Compliance Program.
Specific duties for this position include, but are not limited to:
- Build and manage a team of Compliance Consultants and Compliance Specialists with responsibility for executing the governance and reporting functions of the enterprise-wide TIR Compliance Program, including, but not limited to, the following program elements and activities:
- Manage TIR Compliance governance committees
- Issues management tracking and trend analysis
- Metrics and analytics
- Reporting to Management-Level governance committees
- Manage delivery of training and awareness programs
- Monitoring and reporting on third party vendor utilization
- Risk reporting
- Stakeholder communications
- Program reporting
- Program administration
- Lead and actively participate as a key member of the TIR Compliance leadership team and other risk management and compliance committees as required, and participate as a compliance representative on various business-based governance committees
- Identify tax information reporting and tax withholding compliance risks across business groups and advise business management on corrective action and control design
- Foster an environment that ensures strong communication and cooperation across the three lines of defense, including business line leadership, Legal, Audit, Compliance and other corporate stakeholders to facilitate transparency, balance and credible challenge
- Sustain a strong risk culture that identifies and provides oversight and escalation of existing and emerging compliance issues across business groups, legal entities, geographies, and jurisdictions; and ensure that escalated compliance issues receive immediate senior management attention
- Create a culture of excellence by proactively attracting, retaining and developing a team of talented and diverse compliance professionals to support the execution of the Wells Fargo compliance program
- Develop effective working relationships with team members while distinguishing self as a leader
- Communicate issues and new developments throughout the compliance community as necessary
- Partner effectively with various risk management and compliance team members across Wells Fargo to collaborate on risk management initiatives
- Create a culture of excellence by proactively attracting, retaining and developing a team of talented and diverse compliance professionals
- Drive team member engagement and diversity through targeted strategies and participative leadership
- Maintain an understanding of the RCRM Framework and the interconnectivity of its key components
- Maintain an understanding of business operations and regulatory guidance/expectations
- Anticipate changes in the internal and external environment and adapt compliance program implementation accordingly
As a Team Member Manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
- Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
- Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
- 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
- 5+ years of management experience
- 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
- Ability to interact with all levels of an organization
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Solid problem solving skills
Other Desired Qualifications
- Extensive knowledge of U.S.- based TIR regulatory sources (Chapters 3, 4 and 61 of the U.S. Internal Revenue Code and the regulations thereunder) and the application of these provisions to a global financial institution
- Awareness of FATCA and the Common Reporting Standard requirements and the application of these provisions to a global financial institution
- Advanced degree desirable, but not required
- Experience working with regulators and internal auditors
- Previous regulatory or compliance experience in financial services at the manager level
- Extensive knowledge of compliance polices, regulation requirements and the current regulatory environment
- Ability to translate regulations into business operational requirements
- Experience advising business partners on compliance requirements and assessing compliance risk
- Ability to synthesize complex topics into concise messages
- Demonstrated facilitation and negotiation skills, especially with difficult topics; includes willingness and ability to question decisions and escalate issues, where necessary
- Experience with Wells Fargo internal risk systems such as CRAS, SHRP, ORIS and RCSA is preferred, but not required
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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