Head of WFBI Regulatory and Governance Office
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.
About the Role
Reporting to the CEO of WFBI, the person in this role is responsible for leading WFBI's senior leadership team and Board of Directors in the resolution of findings and risk mitigation programmes (RMPs) related to regulatory inspections, queries and other regulatory activities. The Head of the WFBI Regulatory and Governance Office will establish and lead all relevant actions to ensure compliance with regulatory and governance requirements are resolved effectively, holistically and within expected timelines. As a direct report to the Board of Directors, this person will provide reports to the Board, escalate matters that require consultation or resourcing, approve RMP-related correspondence to the Regulator, and manage the end to end process for resolving RMPs, related findings and root causes.
This role sits in the First Line of Defense, and interfaces with team members in the Second and Third Lines of Defense as it relates to resolution of regulatory issues.
(Note: In addition to these functions employees are required to carry out such other duties as may reasonably be required
- Responsible for creating and executing a comprehensive strategic plan for the successful resolution of findings and RMPs related to regulatory inspections, queries and other regulatory activities.
- Responsible for ensuring appropriate actions are taken to ensure compliance with regulatory and governance requirements and confirm they are resolved appropriately and within specified timeframes.
- Lead the RMP Program Office:
- Define, establish and manage the end to end process to resolve, root causes and RMPs related to regulatory inspections and other engagements
- Partner with WF Senior management leaders in developing and implementing strategic plans in effectively managing this end to end process to resolve RMPs
- Serves as the primary liaison between the business units and the various support partners to drive and implement the strategy in the successful resolution of RMPs
- Act as a consultant and escalation contact for RMP issue and action owners
- Escalate any issues to Senior Management and the Board of WFBI
- Removes obstacles and advocates for appropriate resourcing requirements when required
- Lead quality control process to ensure RMP submissions are of a consistently high quality and appropriately documented
- Provide formal and systematic reporting to the Board and Senior Management regarding RMP progress, closure and validation activities
- Monitor RMPs post-closing to ensure they are appropriately validated, sustained and embedded into business as usual activities
- Lead and manage Regulatory and Governance Office team members; ensure resourcing is appropriate for the Office to carry out its duties.
- Provide consultation to executive leadership and the Board on regulatory matters
- Manage projects to resolve regulatory queries and governance matters
- Leverage influencing skills to manage various stakeholders (Board, Management, Regulator, Shareholder)
Market Skills and Certifications
- Degree in Finance, Banking or related professional qualification. Post qualification preferred but not essential.
- Demonstrated senior leadership experience in a banking environment
- Significant experience with regulatory, governance and related matters
- Clear and concise verbal and written communication skills
- Project management skills - solid experience in leading and managing complex regulatory projects
- Strong interpersonal skills, and the ability to lead high level meetings with senior executives and Board members
- Strong influencing skills and effective communication skills in a matrix reporting environment
- Excellent leadership skills demonstrated by the ability to make decisions without alienating, drive performance and achieve buy-in from team members and managers at all levels
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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