Job Description It starts with you. We must attract, develop, retain, and motivate the most talented people - those who care and who work together as partners across business units and functions. We value and promote diversity and inclusion in every aspect of our business and at every level of our organization.
Corporate Risk provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, this 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.
The Payments, Virtual Solutions and Innovation (PVSI) group includes Home Lending, Consumer Credit Card, Personal Loans and Lines, Direct Auto, Dealer Services, Commercial Auto, Retail Services, and Education Financial Services, including the professional services teams that partner with these businesses - Human Resources, Finance, Credit Risk, and Compliance & Operational Risk.
The Servicing, Collections, Executive Office (SCEO) Compliance and Operational Risk (COR) team provides guidance to Consumer and Retail Services (CRS), Personal Lines and Loans (PLL), and Education Financial Service (EFS) businesses to support their commitment to comply with all applicable laws, regulations, and internal operational policies and procedures.
The Operational Risk Consultant 4 (ORC 4) will be responsible for COR functions in support of Credit Bureau Reporting and Disputes for CRS, PLL, and EFS teams. In this role the ORC 4 will:
Identify and evaluate business risks
Solve for issues
Implement & ensure adherence to Corporate policies and programs
Measure, analyze, and report on the environment
Provide and ensure governance routines and readiness
This ORC 4 will partner with the Credit Bureau Solutions (CBS) team within CRS to ensure complete, accurate, and timely information is reported to the bureaus in addition to ensuring credit bureau disputes are addressed appropriately. This position will also provide guidance in alignment with Corporate Policy and the FCRA on all project work, procedure development, and enhancement efforts that may have credit reporting impact.
Key responsibilities include:
Issues management: Including partnering with the LOB to identify root cause solutions, issue maintenance, and reporting, and validation of root cause to ensure issues were resolved accurately.
Procedure support: Reviewing, providing feedback, and approving LOB procedures to ensure procedures are developed in compliance with standards (laws and policies).
Change management: Monitoring for new / changed regulations, assessing applicability with LOB, and supporting implementation.
Control Review Analysis System (CRAS+) risk assessments: Maintaining existing CRAS+ content, assessing (accept / reject) new or changed Major Requirements (MRs) and associated Controls, completing annual review, and assessing for downgrades with respect to identified issues.
Compliance testing review and approval: Including review of test scope and scripts, and partnering with the LOB on potential issues. Proactively building corrective actions based on root cause and identified issues to successfully remediate issues.
Project support and consultation: Addressing general questions by the LOB, and engaging with Legal and other COR/Corporate partners for answers.
The ORC 4 will leverage analytical tools and methods to help the business achieve operational excellence, identify operational and compliance risk gaps, and prioritize and remediate these gaps effectively and timely.
**The preferred locations are listed; however, candidates in other major hub locations for Wells Fargo 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
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
A BS/BA degree or higher
Experience developing partnerships and collaborating with other business and functional areas
Experience reviewing testing strategies and methodologies; evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls; and identifying issues resulting from internal and/or external compliance examinations
Ability to evaluate risks and the impact of decisions on an overall organization
Ability to identify and evaluate exposures and potential risks
Ability to interact with integrity and a high level of professionalism with all levels of team members and management
Ability to make timely and independent judgment decisions while working in a fast-paced and results-driven environment
Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
Knowledge and understanding of analytical methods used in: root cause analysis
Knowledge and understanding of banking: regulations, compliance, policies, process, and procedures
Outstanding problem solving and decision making skills
Strong project management skills
Other Desired Qualifications Our focus priority will be on candidates who:
Have knowledge of Metro2 File Credit Bureau Reporting Format and/or the eOscar Dispute system
Possess a strong understanding of the Fair Credit Reporting Act
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.