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Operational Risk Consultant 4 - Center of Excellence Data Furnishing,

Company: Wells Fargo
Location: West Des Moines
Posted on: February 7, 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.The Payments, Virtual Solutions, and Innovation (PVSI) team includes Operations, Consumer Credit Card, Retail Services, Consumer Deposits, the Innovation Group, Treasury Management, Merchant Services, and Wells Fargo Virtual Channels, and the professional services teams that partner with these businesses. PVSI's focus is on delivering the next generation of payments and deposit capabilities and advancing our digital and online offerings to design new customer experiences and products. Its guiding principles are to start with the customer, move faster, and partner effectively.Our Consumer Lending/PVSI Credit Bureau Management Team drives and supports CL/PVSI group-wide operational risk initiatives. The CL/PVSI Credit Bureau Management Team also partners with Corporate Operational Risk on corporate-wide work efforts and provides functional leadership and guidance across CL/PVSI on operational risk strategies, programs, and issues.This Operational Risk Consultant 4 (ORC4) will report directly to Kenny Chadwick, and will be part of the Data Furnishing COE System of Record (SOR) Execution team. This ORC4 role will be responsible for working on a team of data and system of record experts responsible for the regular reporting of credit bureau data to the national consumer reporting agencies (CRAs) - Equifax, Experian, Innovis, and TransUnion, as well as specialty reporting agencies such as Early Warning Services. This position will primarily be responsible for managing the furnishing function for Early Warning Services (EWS). Early Warning Services is a specialty consumer reporting agency that complies with applicable Fair Credit Reporting Act (FCRA) regulations. Financial institutions, such as Wells Fargo, provide information to them about checking and savings account history and activity. This ORC4 - Center of Excellence (COE) Data Furnishing, Early Warning Services (EWS) position will also partner with other SOR reporting team members on the following: analysis of accepted and rejected data by the CRA(s), SOR data mapping, and on-site data reviews/audits of Wells Fargo account data at the CRAs. In addition, this position will support and engage on matters tied to: regulatory audits and examinations of reported account data, review and resolution of self-identified errors, and review of complaints and disputes tied to account reporting.The person in this ORC 4 role will:

  • Drive standardization initiatives across all product lines and SORs to ensure consistency in credit bureau reporting; design & execute monitoring controls to ensure regulatory guidelines are met
  • Develop a detailed understanding of data furnishing concepts, compliance, and regulatory guidelines, and prioritize work so that firm standards and mandated timelines are met in regard to accuracy, completeness, and timeliness of processing bureau requests
  • Utilize various tools to analyze account data and lead the team in resolving performance errors
  • Manage complex projects from design to implementation stage while influencing project team on scope and requirements
  • Define and execute methods that self-identify issues, and collaborate with technology teams and the lines of business to resolve and monitor coding and/or operational processes that may contribute to errors in account reporting.
  • Collaborate with other risk and operation teams seeking to create enterprise consistencies and maximize efficiencies
  • Provide content and process expertise, lead through influence, and drive execution of the following:
    • Strategy Development and Implementation: Partner with technology, business lines, and Corporate Risk to develop and execute a data reporting program which not only meets policy and regulatory needs, but also is proactive, adopts best practices, and functions as a Center of Excellence identifying and mitigating risk
    • Risk Mitigation: Analyze SOR input/output (I/O) relative to account data, and understand/mitigate root causes of credit bureau reporting issues; leverage systems, processes, and applicable policies to identify potential problems and opportunities and implement effective, consistent, and sustainable solutions
    • Analysis and Risk Identification: Work with technology and business risk teams relative to account management policies and protocols that may be contributing to reporting risks; review and provide recommendations to effectively mitigate the root causes of credit reporting issues
    • Data and Reporting: Provide insightful analysis and reporting to CB/PVSI Senior and Executive leadership for the Credit Bureau Program; provide key risk indicators and factors that contribute to risks and inconsistencies; present action plans to limit and/or eliminate material risks; simplify the complex
    • Facilitate sharing of best practices and communication: Develop relationships across multiple organizations, and identify and share best practices with business partners across the Wells Fargo Enterprise and CB/PVSI business units; lead meetings with CL/PVSI Business and Compliance Leaders to discuss SOR Reporting program strategies, issues, mitigating controls, and cost effective solutions using a risk-based approach Preferred Locations:
      • 10421 Wateridge Cir, San Diego, CA
      • 1 N Jefferson Ave, Saint Louis, MO
      • 18700 NW Walker Rd, #92, Beaverton, OR
      • 1100 Corporate Center Dr, Raleigh, NC
      • 401 S Tryon St, Charlotte, NC
      • 7001 Westown Pkwy, West Des Moines, IA
      • 435 Ford Rd, Saint Louis Park, MN
      • Other Wells Fargo Footprint Locations may be considered

        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

            Other Desired Qualifications
            • Experience (within last two years) with Early Warning Systems including knowledge of deposit and credit/debit card data files
            • Experience with data management and analysis tools such as SAS, SQL, Tableau, in order to operate within the daily functions of the reporting team and to provide analysis of reported account information
            • Hands on experience with consumer credit data, specifically the reporting of account information
            • Experience (within last two years) with various systems of record (e.g. FDR, Shaw, Black Knight, Hogan); solid understanding of CDIA Reference Guide, Metro2 Reporting Requirements, and FCRA requirements relative to data furnishers/reporters
            • Ability to provide advice and counsel to management on significant initiatives to improve risk management and internal controls
            • Ability to communicate powerfully and prolifically to leaders and simplify the complex
            • Demonstrated ability to execute effectively in a matrixed organization, and develop partnerships with many business and functional areas
            • Subject matter expert in credit data reporting
            • BA/BS in Business, Analysis, Technology, or Master's degree in Business or related field
            • Certification in related risk field
            • Six Sigma certification

              Job Expectations
              • Ability to travel up to 20% 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.

                Keywords: Wells Fargo, West Des Moines , Operational Risk Consultant 4 - Center of Excellence Data Furnishing,, Professions , West Des Moines, Iowa

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