Operational Risk Manager 1
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .
The Enterprise Testing & Validation (ET&V) team is an independent testing function within Wells Fargo Compliance. The business groups within our testing scope include: Community Banking, Payments, Virtual Solutions & Innovation (PVSI), and Consumer Lending (excluding Home Lending). We are seeking an Operational Risk Manager 1 to assist in developing, implementing and executing a risk-based Test and Validation program. This team member will manage approximately 6-10 FTE and will responsible for internal compliance and control reviews for a broad range of areas such as:
- Business Process Risk Management Test and Validate phase
- Complaints management
- Third Party Risk Management
- Information Life Cycle Management (records management)
- Online and Mobile Policy
- Project Management
- Technology Change Management
- Data Breach Notification Process
- Information Security
The team member will interact with Group Operational Risk Officer (GORO) teams, line of business Operational Risk teams, Corporate Risk, Wells Fargo Audit Services, and other oversight groups.
Key responsibilities include (but are not limited to):
- Responsible for implementing and monitoring a risk-based testing program to identify and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events or may provide oversight of an operational risk program.
- Work with lines of business to execute required compliance and operational risk testing
- Execute and manage testing strategies in accordance with Regulatory Compliance Risk Management policies and procedures
- Manages a group of 6-10 SMEs and provides managerial and technical support
- Provides consulting and support for various Testing and Validation related SME areas and initiatives with moderate risk to identify, test, report and mitigate operational risk in business activities.
- Provides technical support to the team for issues identified in the testing.
- Implements testing strategies and methodologies; evaluates the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls; identifies operational risk issues; advises management on risk ratings and evaluates ratings against established policy standards.
- Provides direction to the team in drafting corrective action plans and in managing change.
- Identifies training opportunities; may provide input to the development of training materials and delivers training.
- Works with the team in drafting reports of findings and recommendations to mitigate risk for operational risk management.
- Coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommendations. Expected to do work allocation, recruitment, mentor and coach team members, manage performance.
Market Skills and Certifications
Builds innovative delivery models to suit to stakeholder requirements.
The ideal candidate will demonstrate strong leadership, and the ability to:
- Work in a fast paced environment with little direction
- Communicate effectively to various audiences, including senior management
- Influence stakeholders in collaborative environment without direct organizational authority
- Analyze and simplify complex information
- Be objective and comfortable providing credible challenge
- Manage multiple priorities concurrently using strong organization and project management skills
- 6+ 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 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both
- 1+ year of leadership or 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
Other Desired Qualifications
- Ability to exercise independent judgment and creative problem solving techniques
- Ability to assess issues, make quick decisions, implement solutions, and influence change
- Knowledge and understanding of banking: regulations, compliance, policies, process, and procedures
- Strong organizational, multi-tasking, and prioritizing skills
- Knowledge and understanding of compliance or operational risk
- Leadership experience including; coaching, training, and mentoring
- Exposure to Wells Fargo CRAS+ (Control Risk Analysis System)
- Exposure to Wells Fargo's Shared Risk Platform (SHRP)
- Exposure to Wells Fargo RCSA (Risk and Control Self-Assessment) tool
- Certified Internal Auditor (CIA)
- Certified Information Systems Auditor (CISA)
- A BS/BA degree or higher
- Experience creating and executing test scripts
- Experience documenting and reporting test results
- Experience addressing issues identified
- Experience leading testing engagements
- Operational risk testing or monitoring experience
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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