Business Risk & Control Sr Associate

Business Risk & Control Sr Associate
Company:

Wells Fargo


Business Risk & Control Sr Associate

Details of the offer

Job Description
Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as ?Personal Cell? or ?Cellular? in the contact information of your application.
About Wells Fargo
At Wells Fargo, we want to satisfy our customers? financial needs and help them succeed financially. We?re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you?ll feel valued and inspired to contribute your unique skills and experience.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Wholesale Banking
Wholesale Bankingprovides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses
The Role
Wholesale Financial Crimes Risk Control (WFCRC) is responsible for the coordination, oversight and ultimate execution of Wholesale Banking?s commitments to key internal and external stakeholders as it relates to the management of financial crimes risk with the Wholesale Bank. In addition to having responsibility for Wholesale Banking?s execution of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program, WFCRC is also responsible for the remediation of the OCC BSA/AML Consent Order. This team will partner with line of business (?LOB?), operations, risk and compliance team members, Wholesale Control Executive Office, Enterprise Financial Crimes Risk Management, Wells Fargo Audit Services, and Testing & Validation to advocate and ensure alignment in scope, purpose, expectations and execution of the Wholesale Financial Crimes Program. The team will achieve this through a focus on strong communication, strategic planning, thoughtful and meaningful tracking/reporting, and timely escalation and change management.
The Business Risk and Control Associate will report to Wholesale Financial Crimes Operations (WFCO) Front Line Monitoring (FLM) Execution Team Manager and will be responsible for the following tasks:
Conduct in-depth assessments of alerts on Wholesale Banking customers, particularly shared and high-risk customers.
Assist with the development of alert assessment guidelines, procedures, and training.
Partner with frontline risk compliance personnel across all business lines to identify and mitigate risks.
Escalate and report unusual activity as warranted.
Identify and analyze emerging money laundering and terrorist financing trends to enhance the frontline monitoring program.
Provide consistent subject matter expertise to lines of business on BSA/AML regulatory requirements and risk mitigation strategies.
Assist with the evaluation of new and existing transaction monitoring tools.
Provide regular updates and escalate significant issues to management as well as serve as Team Lead, as needed.

In general, a Business Risk and Control Associate is responsible for developing, implementing and monitoring risk-based programs to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency. May provide oversight to an operational risk program. Works with complex business units and provides operational risk expertise and consulting for projects and initiatives with high risk. May provide systems security consulting on complex issues. Designs and develops testing strategies, methodologies and analyses; evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyzes business and/or system changes to determine impact, identifies and assesses operational risk issues and assigns risk ratings consistent with established policy standards. Consults with business to develop corrective action plans and effectively manages change. Identifies training opportunities; designs/coordinates the development of training materials delivers or coordinates training delivery. Reports findings and develops business cases to influence senior management on the need for controls to mitigate risk. Manages and/or coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies. Manages project teams and may provide guidance to less experienced consultants.
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.
Required Qualifications
5+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 5+ years of financial services industry experience, of which 3+ years must include direct experience in risk management

Other Desired Qualifications
Prior BSA/AML transactional monitoring and ongoing due diligence experience.

Street Address
MN-Saint Louis Park:435 Ford Rd - Saint Louis Park, MN

Disclaimer
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
WHOLESALE BANKING


Source: Jobsxl


Area:

  • Auditor - Accounting - Finances / Financial Services Manager

Requirements

Related offers

Escrow / settlement officer

Primarily responsible for performing tasks related to real estate closing transactions. DUTIES AND RESPONSIBILITIES: Act as liaison between all parties within...


From Pultegroup, Inc - Virginia

Published a month ago

Real estate investment intern

INTERNSHIP PROGRAM DESCRIPTION GTS offers the opportunity for candidates currently enrolled in either undergraduate or MBA programs to gain exposure to a real...


From Gts Buys Homes - Arizona

Published a month ago

Alternatives fee team associate - pri

Description About this role About BlackRock Elevate your career by joining the world's largest asset manager! Thrive in an environment that promotes positive...


From Blackrock - New Jersey

Published a month ago

Chief information security officer

Chief Information Security Officer Harwood Heights, IL A Chief Information Security Officer in Hardwood Heights, IL is available through Modis. In this role...


From Modis - Illinois

Published a month ago