EMEA Head of Regulatory Change and Compliance Risk Framework
Main function of the job:
The EMEA Head of Regulatory Change and Compliance Risk Framework is a subject matter expert ('SME') with a strong compliance background in wholesale banking and markets compliance who is responsible for developing and implementing a best in class Regulatory Change Programme for Compliance in the EMEA Region.
They will proactively and in a timely manner, communicate to EMEA Leadership how regulatory compliance requirements have been tracked from initial identification to disposition and the subsequent status of risk and control capture within the Corporate Risk and Control database ('SHRP').
This individual will develop trusted partnerships with EMEA Wholesale and Asset Management Lines of Business, EMEA Compliance Advisory and Corporate Compliance Partners in order to drive the Regulatory Change strategy for EMEA Compliance and ensure that an effective process is in place for the recording of regulatory compliance requirements and associated controls within the SHRP system.
- Strategic design and implementation of the Regulatory Change framework for Compliance in the EMEA Region: they will own regulatory risk identification and assessment processes and will drive through an appropriate jurisdictional coverage and tracking model to identify regulatory change and communicate this to their Compliance, LOB and functional partners.
- As the senior regulatory change SME they will develop robust governance around regulatory risk identification, assessment and disposition processes in region.
- Overall responsibility for the design and implementation of a regulatory compliance risk identification model, covering the securities, banking and asset management businesses.
- Leverage automated tracking solutions (both internal and external) and will proactively evaluate the merits of each and will make proposals as to how these should be used in region.
- Lead their team to track, review and analyze relevant regulatory compliance requirements which may impact EMEA, in a timely manner and oversee the prompt creation of initial impact analyses of forthcoming change.
- As the Senior Regulatory Change SME they will be responsible for proposing disposition of forthcoming regulatory change with Advisory Compliance Partners, and holding periodic meetings with EMEA Compliance Leadership and relevant stakeholders to agree this assessment and disposition.
- Develop a trusted partnership with the EMEA COO function to influence the initiation and resourcing of key regulatory change projects for the region and will lead their team members to assist with these projects as appropriate.
- Responsibility for strategic oversight of all SHRP related projects impacting EMEA and take the EMEA lead role for these projects to highlight EMEA considerations to corporate teams, influence the direction of these projects and drive forward actions so that EMEA executes milestones to the appropriate standards.
- Ensure that relevant regional stakeholders are kept appraised of status of SHRP pipeline projects (both EMEA and US) and SHRP projects and are involved in efforts as necessary.
- Responsiblity for maintaining regulatory compliance risk sources and Major Compliance Requirements ('MCRs') appropriate to EMEA within the corporate risk and control database (SHRP).
- Design the strategy and framework for their team members (cross working and cross training as appropriate) to document these MCRs together with appropriate control guidance and inherent risk ratings within SHRP.
- Responsibility for inspiring, leading, developing and cross training their team members.
- Engage team in the department's strategic vision and ensure that their team are seen as strong partners for both advisory compliance teams, local country compliance officers and the lines of business operating in region.
Market Skills and Certifications
- Deep and proven subject matter expertise and experience in developing and implementing a Regulatory Change programme and compliance risk framework within a similar Compliance function.
- Extensive subject matter expert knowledge of UK and EU regulatory requirements.
- A subject matter expert with a strong advisory compliance background in wholesale banking and markets compliance with a deep understanding of associated products and services. Experience of asset management activities also desirable.
- Partnership skills - the candidate will need to partner closely with multiple stakeholders including EMEA Compliance Advisory teams and other stakeholders both within andoutside EMEA. This role must have the ability to cultivate and maintain excellent working relationships and credibility with all related risk partners and must be viewed as a trusted advisor to key stakeholders.
- Proven international experience with deep understanding of multiple jurisdictional requirements (i.e. exposure to working in multiple jurisdictions and having direct experience of multiple regulatory demands) with proven experience of influencing stakeholders in other jurisdictions in order to articulate and achieve regional requirements.
- Extensive subject matter knowledge of Regulatory Compliance Risk frameworks and methodologies (i.e. identification, assessment, risk and controls etc.)
- Exceptional ability to deliver results swiftly given time pressures surrounding role and ability to demonstrate transparency to their management as to work performed.
- Exceptional leadership capability - leads by example, fosters trust and is aligned with the Bank's vision and values.
- Proven change management experience with the ability to create a vision for change and influence key stakeholders and demonstrated ability to swiftly comply with leadership direction.
- Matrix management skills - demonstrated experience in an environment where management of regulatory requirements must be achieved in the context of the region, different jurisdictions, the line of business and multiple legal entities.
- Teamworking skills - the candidate must be flexible in his/ her work style and be able to work collaboratively with stakeholders and colleagues at all levels.
- Problem solving skills - the candidate must demonstrate the ability to identify key issues, and obtain appropriate information for further analysis, proffering alternative solutions aligned with the Wells Fargo approach
- Highly developed communication and influencing skills - excellent interpersonal, communication (written and oral) skills are essential with the ability to liaise professionally and with diplomacy across all levels of staff.
- IT literate - will understand and have extensive experience with governance risk and control frameworks; strong familiarity of regulatory tracking systems and tools and expertise including use of Microsoft Excel, Access, Work, Powerpoint and other reporting tools.
- Unquestionable Ethics.
- Educated to degree level.
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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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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