VP, Americas Operational Risk Coverage Programs
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Market Job Description
We are seeking a VP, Americas Operational Risk Coverage Programs Leader, based in Toronto to support the Americas Operational Risk Coverage Programs (ORCP) which provide critical independent risk management coverage.
- Review and credible challenge of the ORCP risk types residual risk and management solutions, including monitoring controls, oversight of risks/mitigation plans, project status reporting and operational risk domain artifacts used as part of the regulatory reporting process globally
- Execution of the framework for International ORCP Risk Management will be based on the agreed engagement model between International ORCP and the Americas Operational Risk team. The Americas Operational Risk Manager will have direct reporting lines to the Head of Americas Operational Risk with dotted line reporting accountabilities to the Global Head of Operational Risk Coverage Programs. They will execute their duties on behalf of the region and ensure that the ORCP operational risk management oversight services provided by ORCP meet the needs of the Americas Operational Risk team that have accountability to the local regulators
- Manage 3-4 operational risk associates, senior associates or officers that specialize in ORCP risk types and coordinate/ execute ORCP processes such as Monitoring and Reporting, Credible Challenge and applicable memos, Risk Identification and Assessments and escalation of risks
- Review and challenge on behalf of the regional legal entities that require evidence that the Risk Management Framework is being executed on their behalf
- Work with International ORCP leadership and Americas Operational Risk to develop and enhance Independent Risk Management oversight programs that support the execution of the Risk Management Framework for Independent Risk Management related tasks focused on evidencing risk assessable hierarchies of Region, Country, and Legal Entity
- Lead, Guide, Review/Challenge front line control groups
- In collaboration with the Americas Operational Risk team, attend steering committees and work groups to ensure appropriate operational risk management coverage for ORCP risk
- Capture, develop and where necessary escalate credible challenges
- Analyze issues and risks generated from ORCP risk type programs; this includes but is not limited to aggregate risks being accumulated at an enterprise level, control weaknesses and to evaluation the risk of solutions not meeting requirements
- Review mitigation/remediation plans and providing advice on mitigation effectiveness and alternative mitigation approaches
- Produce management and operational risk reporting as applicable
- Effectively collaborate with business partners in the first-line-of-defense (FLOD) and second line of defense (SLOD) in the establishment and maintenance of operational risk processes for the ORCP
- Develop and maintain strong working relationships with the International ORCP team and the Americas Operational Risk team that act as the interface to the line of business and front line functions in the region
- Work with Americas Operational Risk to integrate the international perspective to the oversight that they execute towards the front line and collaborate with International ORCP team on risk management activities that fall within their remit of oversight
Market Skills and Certifications
- 7+ years of experience in risk management (include compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management
- 5+ years demonstrating the ability to build out an effective Affiliate Program that covers regulatory expectations globally
- 2+ years of leadership experience
- Excellent verbal, written, and interpersonal communication skills at an executive level.
- Expert knowledge of Operational Risk rules and guidance across a variety of financial services regulators with direct experience in interaction with regulators
- Advanced Microsoft Office skills
- Demonstrated ability to develop written program materials, including executive level reporting
- Strong analytical skills with high attention to detail and accuracy
- Proven leadership skills to drive alignment across stakeholder groups to develop and deliver repeatable end-to-end risk management solutions and controls
- Ability to work in ambiguous circumstances with a penchant for building structure and scalable processes
- Ability to interact with all levels of an organization, and influence in a matrixed environment
- A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment that operates internationally
- Strong relationship management skills in conjunction with the ability to influence, carry out vision and lead key initiatives with high integrity and credibility will be determining factors in selection
- Knowledge and understanding of regulatory requirements for Risk policies and programs
- Experiences working in a large multi-national with a US parent and licensed legal entities internationally
- Oversight in a formally regulated financial services environment
- Understanding of formal governance structures - committee structures - committee participation - formal escalation
- Experience with the oversight within the construct of a legal entity with a parent that provides services that are considered "internal outsourcing" by international regulators
- Operational Risk Coverage Programs (ORCP) Risk Management Oversight
Leadership Expectations at Wells Fargo
As a Team Member manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
- Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
- Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.
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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