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Compliance Consultant

Company: Wells Fargo
Location: West Des Moines
Posted on: June 15, 2019

Job Description:

Job Description
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.Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.Wells Fargo Compliance is the company s compliance second line of defense function, providing company-wide leadership, standards, support, and independent oversight to ensure that all business groups abide by applicable laws, rules, regulations and regulatory guidance (regulatory requirements), meet compliance responsibilities, and manage compliance risks. Wells Fargo Compliance credibly challenges management decisions, business processes and activities, and evaluates and assesses adherence to applicable regulatory requirements. It provides appropriate analysis, reporting, and escalation to senior management and the Board of Directors, sets minimum standards for the company, and gives advice, guidance, and support for compliance risk management activities across the enterprise.The Wells Fargo Compliance Team within Consumer Lending is responsible for providing independent compliance risk management activities. This includes establishing and assuring execution of compliance programs for Wells Fargo Personal Lending Group (PLG) which includes Educational Financial Services (EFS), Personal Lines and Loans (PLL) and Small Business Lending (SBL), including multiple regulatory environments (e.g. OCC, Fed, CFPB, state laws). In addition, the compliance team overseas regulatory and policy requirements across the business and provides credible challenge to the business related to risk management and control environment. Specifically the team performs the following functions:

  • Compliance Advisory support (including issue management and customer remediation and new business initiatives)
  • Compliance Annual Plan development and execution
  • Compliance Risk Assessment activities and reporting
  • Compliance Monitoring/Oversight, and support for Independent Testing
  • Compliance Policy/Procedure implementation and execution
  • Compliance Training delivery and reporting
  • Compliance Change Management activities
  • Compliance Exam Management support
  • Third Party Risk Management and Oversight in accordance with Third Party Risk Management Program.Primary Duties and Responsibilities:This is a new opportunity for a Compliance Risk professional to join the Consumer Lending Compliance Team and play a significant role in supporting SBL, EFS and PLL Servicing. As part of the role, the successful candidate will be responsible for partnering with the business to identify key risks and ensure the proper controls to mitigate risk are implemented and operating effectively. This includes:
    • Maintain subject matter expertise and knowledge of the designated businesses, regulatory requirements, and elements of the Compliance Program.
    • Developing, implementing and monitoring risk-based compliance programs to assure compliance with federal, state, agency, legal and regulatory requirements, and providing compliance oversight for Wells Fargo PLG functions.
    • Working with various Business and Control Teams to provide compliance risk expertise and consulting for projects and initiatives, sometimes spanning multiple business units, to identify, assess and mitigate regulatory risk.
    • Understand themes, volumes, trends etc. by reviewing complaints and escalate issues to appropriate senior leaders.
    • Conduct appropriate risk-based impact analysis for applicability of regulatory changes to Wells Fargo PLG business activities, processes, systems, etc.
    • Works with Independent Compliance Testing to design and develop the most thorough and comprehensive monitoring and testing strategies, methodologies and analyses.
    • Evaluates the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls.
    • Consults with Business and Control Teams related to Issue management, including performing adequate root cause analysis and developing corrective action plans to mitigate risk and resolve customer harm.
    • Effectively manage change to ensure regulatory compliance.
    • Identifies training opportunities, and designs/coordinates the development of training materials and assign proper regulatory training based on roles and responsibilities.
    • Periodically and regularly reports findings and recommendations to Wells Fargo PLG executive management and Wells Fargo Compliance Senior Leadership.
    • Works with the Compliance Exam Management Team to coordinate examinations of Wells Fargo PLG.
    • Provides subject matter expertise across Wells Fargo PLG on appropriate and adequate compliance controls. Partner with businesses to develop alternative processes and controls, as needed that mitigate compliance risk but also achieve business objectives.
    • Ensures that all compliance-impacted business issues are proactively identified and addressed appropriately, escalating where necessary
    • Ensures the accuracy and integrity of data in SHRP related to applicable MRs and Controls.The candidate will be responsible for driving compliance policy adherence and oversee effective control of risks through governance, policies and procedures, issue identification and escalation, root cause and corrective action planning.

      Required Qualifications
      • 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

        Desired Qualifications
        • Advanced Microsoft Office skills
        • Excellent verbal, written, and interpersonal communication skills
        • Strong analytical skills with high attention to detail and accuracy
        • Ability to interact with all levels of an organization
        • Strong organizational, multi-tasking, and prioritizing skills
        • Ability to negotiate, influence, and collaborate to build successful relationships
        • Ability to work and influence successfully within a matrix environment and build effective business partnerships with all levels of team members

          Other Desired Qualifications
          • Demonstrated ability to build effective partnerships with multiple stakeholders
          • Demonstrated ability to work independently, while ensuring transparency and escalation
          • Ability to respond quickly to changing job demands
          • Ability to effectively identify and articulate risks, issues and associated root causes
          • Proven experience in all aspects of executing a new policy, process, or methodology.
          • Experience with conducting risk assessments, assessing the adequacy of policies, procedures, processes, and compliance and operational controls in a significantly large and complex organization and Third Party Service Providers.
          • Demonstrated experience with and knowledge of multiple risk disciplines
          • Experience communicating with financial services regulators and or internal audit
          • Ability to integrate end-to-end business process knowledge and assessment into oversight activities
          • Experience implementing compliance programs adhering to financial service regulation
          • Knowledge and familiarity with financial laws, regulations, rules or other regulatory requirements
          • Ability to work effectively and influence successfully within a matrix environment
          • A BS/BA degree or higher, or Juris Doctor(JD) degree
          • Strong flexibility, collaboration, and adaptability skills

            Job Expectations
            • Ability to travel up to 10% of the time


              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.
              Associated topics: attorney, compliance, compliance department, compliance office, corporate attorney, court, courtroom, legal, legal affairs, legal department

Keywords: Wells Fargo, West Des Moines , Compliance Consultant, Other , West Des Moines, Iowa

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