Trade Services Compliance Consultant
Wells Fargo is one of the largest financial services companies in the world with US$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 various distribution channels around the world. With more than 265,000 team members, Wells Fargo serves one in three households in the United States.
Wells Fargo's vision is to satisfy all its customers' financial needs and help them succeed financially. A key focus of that vision is serving the increasing financial needs of financial institutions, non-bank financial institutions and corporates. More than 3,000 team members cover the international needs of Wells Fargo's clients from over 35 global locations. With regional headquarters in Hong Kong, branches in Beijing, Seoul, Shanghai, Singapore, Taipei, and Tokyo, and multiple representative offices, Wells Fargo covers a diverse range of businesses in Asia Pacific that includes Global Financial Institutions, Global Banking, Global Payment Services, International Trade Services, Wells Fargo Securities and Wells Fargo Asset Management. (For more information on Wells Fargo, please visit:
We are now looking for an experienced professional to join our Wholesale Banking Compliance function in Hong Kong and provide broad-ranging Compliance for Wells Fargo's International Trade Services and International Trade Operations activities in Asia Pacific. International Trade Services (ITS) markets Wells Fargo's extensive trade capabilities to exporters across Asia, while International Trade Operations (ITO) serves as the global trade processing centre for Wells Fargo. The successful candidate will be intimately involved in advising the relevant business lines on trade issues and maintaining an effective control framework and regime designed to identify, manage and mitigate regulatory and operational risks. This position offers the opportunities and challenges presented when managing a compliance and operational risk environment that supports the build-out or expansion in Asia Pacific of successful Wells Fargo businesses during a period of corporate integration and strategic business expansion.
Supporting the Compliance and Operational Risk infrastructure for ITS and ITO in the relevant Asia Pacific jurisdictions to accommodate legal and regulatory requirements and mitigate compliance and operational risks
- Assisting in the administration of Compliance and Operational Risk controls, policies and procedures, and monitoring programmes for ITS and ITO activity in the relevant jurisdictions
- Providing comprehensive Compliance and Operational Risk advice and support for current and new or modified ITS business initiatives in Asia Pacific and in the development of ITS activities
- Assisting ITS and ITO in Asia Pacific in meeting all local legal and regulatory requirements and Wells Fargo enterprise and line of business standards and requirements
- Partnering in the management of internal audits, compliance review and external regulatory exams
- Disseminating information concerning legal or regulatory developments impacting ITS and ITO in Asia Pacific, with necessary interpretation and impact assessment; developing and delivering Compliance and Operational Risk training for ITS and ITO in Asia Pacific to enhance awareness and knowledge of applicable laws and regulatory requirements
- Supporting ITO, ITS and other lines of businesses in APAC by providing trade expertise on potential unusual activity
- Maintaining two way channel of communication between APAC Compliance and International Group Compliance on all relevant compliance related issues and other information.
Market Skills and Certifications
The ideal candidate will have:
- Relevant university degree. Minimum of seven years of relevant experience gained in an international financial center, preferably with a focus on trade finance or trade operations activity
- Good understanding of the regulations pertaining to international trade (e.g., UCP 600, URR 725, ISP 98)
- Experience working in a compliance/risk management function for a line of business. Familiarity with the products/services offered by ITS and processed by ITO, including features and life-cycle, and a general understanding of how each of these businesses operates is preferred
- Experience providing timely and prudent counsel and advice involving compliance and operational risks, matters and solutions
- Some knowledge of laws and regulations in China / Hong Kong / Singapore applicable to covered products/services desirable. Some familiarity with banking and bank holding company laws and regulations in the US is also desirable
- Qualities of character to build and maintain strong relationships with key stakeholder groups including line of business management, other senior management, compliance and operational risk team members, internal auditors and regulators / examiners
- Excellent oral, presentation and written communication skills; self-motivated; ability to manage to a set of deadlines and deliverables with limited supervision
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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