EMEA Regulatory Risk Consultant
Main function of the job:
The EMEA Regulatory Risk Consultant ('RRC') will, in accordance with regulatory change / requirement, agree, document and maintain the key / major compliance requirements / rules ('MCRs') impacting Wells Fargo, together with their associated risk and control ratings within the Wells Fargo risk and controls database ('SHRP'). (The function is also known as a 'Proponent' function within Wells Fargo.)
- Risk Identification: Understanding impact to Wells Fargo entities in EMEA
- The RRC will assist with the maintenance of applicable UK and EU regulatory requirements within the SHRP database which will require them to analyse existing content on an ongoing basis, make proposals for change (as directed) and also to work with US and EMEA Regulatory Change Groups (in UK and US) to understand the pipeline of new requirements which may impact the firm and hence need to be captured within our systems.
- Risk Assessment: Updating risk and control records in risk database
The RRC will create and or edit regulatory compliance records in 'SHRP' as regulatory change needs dictate. This will involve creating and or editing regulatory rule summaries, assessing inherent risk ratings for the rule or regulation in question, adding guidance as to control environment expectations and then assigning the rule or requirement out to relevant team members for further analysis.
- Risk Assessment: Communicating risks and control status to appropriate stakeholders
- The RRC will assist with the communication of status of MCRs within the SHRP system at appropriate forums and liaise with appropriate internal stakeholders (both within EMEA and US) at appropriate forums and meetings as required. The RRC will liaise with appropriate colleagues as necessary to assist with the assessment / reporting on MCRs for EMEA (e.g. to confirm aggregate risk scores; to confirm appropriateness of regulatory sources etc.)
- EMEA Regulatory Projects and ad hoc tasks
- Regulatory Projects: The RRC will participate in regulatory compliance risk-related projects as directed by Senior Compliance Management
- In addition to these functions, team members are required to carry out such other duties as may reasonably be required.
Market Skills and Certifications
- Legal / Regulatory Development - Educated to degree level ideally with auditing / legal or strong Regulatory Advisory, Regulatory Affairs, Regulatory Change or Regulatory Consulting background gained at a top tier wholesale bank or major consultancy firm (i.e. banking / product knowledge is required).
- Regulatory knowledge - Sound knowledge of UK / EMEA regulatory environment and how these requirements apply to wholesale banking lines of business is essential. Asset management experience desirable.
- Global Outlook - Proven ability to work in global teams across multiple regions including EMEA.
- Project Management - strong project management skills, strong stakeholder management skills and ability to think strategically, act swiftly and deliver results are essential. Candidate must have expert analytical skills with experience in collecting, analyzing, and synthesizing information on various subjects.
- 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.
- Communication - strong interpersonal, communication (written and presentation) skills and organizational abilities are essential with an ability to liaise professionally and with diplomacy across all levels of staff in clear and succinct manner.
- Team working and Leadership - proven track record of working collaboratively across multiple business lines and with stakeholders and colleagues at all levels but also of taking the lead as needs dictate.
- Drive - a self-starter who is proactive with ability to identify key issues, and obtain appropriate information for further analysis.
- IT literate - including Microsoft Project, Excel, Access, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
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.
Meet Some of Wells Fargo's Employees
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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