EMEA Compliance Senior Testing Consultant
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul.
In accordance with the Wells Fargo enterprise wide Regulatory Compliance Risk Management ('RCRM') Program, the EMEA Compliance Testing Team ('the Testing Team') sits within EMEA Central Compliance and assesses the controls relating to Regulatory risks. The EMEA Testing (Thematic Reviews) Consultant ('the Consultant') will help to perform ad hoc thematic and other reviews in accordance with the Annual EMEA Testing Plan. The role will report to the EMEA Central Compliance Testing Team Lead (Gen Regulatory).
In accordance with the Annual Testing Plan, perform Thematic or specific reviews across multiple entities, lines of business or locations as directed by Central Compliance Management, specifically the EMEA Central Compliance Head of Testing or Compliance Testing Team Lead. All team members to execute reviews per Regulatory Compliance Risk Management ('RCRM') standards:
- Engage with key stakeholders within relevant lines of business and with relevant control function team members (senior compliance management, audit and operational risk) to effectively plan and scope Testing activity, coordinating this with the relevant Testing Team Leader and wider Compliance Team;
- Perform and document 'fieldwork' within the relevant lines of business and test system and control effectiveness and design (in accordance with relevant Wells Fargo testing and sampling methodologies as appropriate);
- The Consultant will assist other Team Members with additional EMEA Central Compliance Reviews as directed by Central Compliance Management;
- Keep all stakeholders appraised of review progress through formal and face to face updates as to fieldwork, potential issues so that issues are not 'surprises' for lines of business etc.;
- Raise appropriate recommendations for system and control enhancements and formally agree associated action plans (e.g. a change to systems, controls, governance structures, policies or procedures) with relevant senior management;
- Raise appropriate recommendations when system and control gaps have been identified and formally agree associated action plans (e.g. a change to systems, additional controls, governance structures, policies or procedures) with relevant senior management;
- Formally document review activity and raise findings within 'Compliance Activity Reports' and following a quality assurance process, submit these to senior management; and
- Work with risk colleagues and lines of business to formally track and validate issues to closure.
- The Consultant will identify issues during testing activities, report issues requiring senior management attention within Compliance Activity Reports and track these via a Centralized Issue Management system in accordance with International Testing and Validation standards.
- The Consultant will assist other Team Members with additional EMEA Central Compliance Reviews reporting as directed by Central Compliance Management.
- The Consultant will assist with the creation and maintenance of risk based Central Compliance Management Information for senior management throughout EMEA as directed, and ensure that:
- metrics are relevant and cover all aspects of compliance / non-compliance with Compliance thresholds;
- dashboards are appropriately communicated to senior management; and
- exceptions / failures to meet threshold requirements are appropriately escalated and
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- Attend relevant International and EMEA conference calls, meetings and Committees in order to discuss RCRM, Testing and Compliance standards and issues raised, as directed by Central Compliance management.
- Work collaboratively with Compliance colleagues throughout EMEA to make recommendations for change to Policies, Projects, Training and or Monitoring or Testing Plans as appropriate.
- Foster partnerships with Corporate Compliance, EMEA Compliance officers (such as Control Room for Cross Border monitoring activities), HR and Wholesale and International Compliance and line of business colleagues as directed.
- Undertaking relevant regulatory and corporate training as required / directed to maintain competence.
- Under direction of Central Compliance Management, provide cover arrangements as per cross training or with other Monitoring and Testing work to assist the wider EMEA Compliance team in times of need.
- Team members are required to assist with other ad hoc matters as may be required by EMEA Central Compliance Management from time to time.
- A proven track record of Compliance testing or other related experience gained within an internal audit or other relevant risk function gained in the Wholesale Banking or other regulated sector (e.g. Commodities Trading) is desirable.
- Degree educated.
- Generalist compliance / regulatory experience, preferably within a central compliance shared service function.
- Working knowledge of the UK / EMEA regulatory environment and how FCA, PRA and regulatory requirements apply to wholesale banking lines of business (This would ideally include specific experience of Irish or other European regulatory environments).
- Knowledge of Asset Management products and services is desirable as the successful candidate will perform a number of reviews within this area.
- General understanding of UK and US regulatory rules and best practice is desirable.
- Business awareness -understanding of wholesale banking activities and requirements.
- Communication - strong interpersonal, communication (written and presentation) skills are essential with an ability to liaise professionally and with diplomacy.
- Organization - strong organizational, prioritization and time-management skills.
- Team working - a proven track record of working collaboratively across multiple business lines is required
- Flexibility / Initiative - ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast paced deadline driven environment.
- Analytical skills - Strong analytical skills with experience in collecting, analyzing, and synthesizing information on various subjects.
- Computing skills - Strong PC Skills including Microsoft Excel, Access, Word, PowerPoint and other reporting tools.
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.
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