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Head of Consumer Credit Transformation

Company: Wells Fargo
Location: West Des Moines
Posted on: November 18, 2021

Job Description:

Job Description
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy.
Corporate Risk
Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.
Credit Risk
Credit Risk independently oversees the management of credit risk exposures (including monitoring and reporting on aggregate credit exposures across groups, legal entities, geographies, and jurisdictions) and the quality of credit risk management practices across the company. This oversight extends to all phases of a loan's life cycle, including origination, underwriting, risk analysis, approval, documentation, boarding, monitoring, loss recognition, modification, and collection activities.
Credit Risk develops, maintains, and ensures adherence to companywide credit risk frameworks, policies, and procedures that are aligned with the Board-approved risk appetite. The group also partners closely with credit officers and business leaders in the front line.
Consumer Lending
Wells Fargo's Consumer Lending businesses empower millions of customers to achieve their dreams every day. Whether it's buying a home, purchasing a car, funding a significant purchase, or making important daily credit card purchases, Consumer Lending provides important credit products and services that help our customers succeed. The group includes Home Lending; Auto; Cards, Retail and Merchant Services; Personal Lending; Consumer Lending Control; and Consumer Lending Shared Services.
The Consumer Lending team partners with other businesses across Wells Fargo to create and deliver transformational experiences that help customers gain access to credit. The vision for the Consumer Lending business is to leverage technology and data to make it simple for customers to easily access credit when and where they need it. Consumer Lending serves customers across the country through our distribution network of more than 5,300 retail banking branches and Home Lending offices, as well as online and digital channels.
Position Overview
The Head of Consumer Credit Transformation will report to the Head of Consumer Credit Risk and will be responsible for leading a team that creates the vision for credit technology of the future. They will partner with CROs, LOBs and Technology to implement this vision over time.
This leader will create the vision and support for target state of a client credit risk assessment, leveraging internal and external data, which will be used in a digital interrogative with clients to deepen the relationship. This will be accomplished working across CROs, LOBs and Technology, as well as with other credit members such as the Head of Consumer Credit Analytics and the Head of Credit Modeling.
They will lead a team that includes multiple levels of Directors, Senior Managers and/or Managers in accomplishing overall strategic priorities and ensuring that Credit provides senior management with an independent perspective of the level of credit to which the business is exposed across all business lines. They will lead this team with integrity and create an environment where team members feel included, valued, and supported to do work that energizes them.
Specific responsibilities include (in partnership with other Transformation leaders across CCO, CROs, LOBs, and Technology):
Create the vision for the credit technology of the future for the following areas: -Data, Reporting, Analytics, Modeling, and Decision Engines.
Create a consumer credit data strategy where consumer data that supports CSSB, CL and WIM is stored in one place with appropriate leniency and access controls. CCO will specify the data requirements and then incorporate that data into the strategic data platform.
Oversee the modernization of the analytical platform by introducing Python and other tools to be used across CCO and CRO teams.
Introduce automation of data and reporting to benefit credit-related reporting across CCO and CROs.
Transform the current disparate decision engine environment and migrate to one or two core technologies. This includes decision engines used throughout the credit lifecycle.
Improve the customer credit journey through digitization of interfaces, automation of processes, and use of advanced analytics.
Create a client-level credit scoring and assessment framework of credit, income, and assets to ultimately replace those components in credit decision strategies.
The Candidate
Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard -to their accomplishments. This role requires leaders with strong relationship management, influencing, vision, and execution skills. -A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. This role requires a sense of urgency, passion for results, and personal accountability for achievement.

Required Qualifications
12+ years of risk reporting experience, risk analytics experience, or a combination of both
10+ years of management experience

Other Desired Qualifications
Seasoned business analytic professional with an understanding of consumer credit across asset classes and business processes (account origination, credit line management, pricing, account management, loss mitigation).
Demonstrated success driving initiatives to include: -continuous improvement and efficiency, including the ability to manage and prioritize potentially competing objectives to achieve optimal customer, shareholder, and/or employee outcomes.
Proven communication skills with the ability to influence, develop, partner with, and maintain collaborative relations at all levels within the organization and externally with customers, regulators, partners, and communities.
Deep knowledge of the infrastructure needed to support a LOB, leading edge credit risk practices, and required end-to-end processes.
Proven experience building, leading, and engaging high-performing, diverse, and inclusive teams across a geographically dispersed organization. Evidence of ensuring team has the right capabilities and number of resources.
Demonstrated ability to operate independently and effectively build relationships within a matrixed environment to influence outcomes both within the business and Independent Risk Management.
Results driven approach to work with a demonstrated ability to meet stringent deadlines.
Capable of working under great pressure with equanimity to manage a considerable volume of information and priorities.
Project or program management experience, especially related to technology and data initiatives.
Knowledge and understanding of ever-evolving regulatory environment and governance processes.
Strong analytical skills with high attention to detail and accuracy.
Ability to manage and prioritize multiple initiatives simultaneously.
Ability to apply strategic and critical thinking in describing multiple risks into a single risk landscape.
Strong organizational, multi-tasking, and prioritizing skills.
Strong educational credentials with an M.B.A. or Master's degree, preferred.
Advanced Microsoft Office skills.

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.

Keywords: Wells Fargo, West Des Moines , Head of Consumer Credit Transformation, Other , West Des Moines, Iowa

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