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Operational Risk Business Oversight Consultant - Deposit Products (ORC5)
at 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.
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.
Operational Risk Business Oversight Consultant role is responsible for the independent oversight of front line operational risk management effectiveness of the Deposit Product Business function. This role is expected to engage with business and risk resources within the front line to influence and challenge risk management activities and decisions. Operational risk is the risk resulting from inadequate or failed internal controls and processes, people and systems, or resulting from external events. Operational risk is inherent in all Wells Fargo products and services as it often arises in the presence of other risk types.
This role will develop specific subject matter expertise for Deposit Product Operational Risk, will be considered a thought leader, and will assist the business oversight leader with all matters pertaining to Operational Risk coverage and oversight. In this capacity, this role reviews and challenges significant Front Line operational risk program execution, including, but not limited to, business continuity, payments, external fraud, information risk management, safety and physical security, transaction processing and execution, third-party risk management and various risk assessment policies and programs.
The Operational Risk professional in this role will also develop detailed understanding of business strategy, the customer base, products and services and other relevant industry issues, frameworks, and emerging risks. This role will also support operational risk leadership, business partners, and other consultants with execution of the work, documentation, and reporting, as well as lead tactical efforts related to the overall scope of work.
Specific responsibilities include:
- Oversee and challenge the Deposit Products risk functions across all operational risk routines including - plan, identify and assess, control and mitigate, test and validate, monitor and report
- Perform independent risk assessment of Deposit Products risk functions, inclusive of emerging risks
- Understand, review and challenge Deposit Products risk acceptances and new business initiatives
- Use Deposit Products subject matter expertise and industry knowledge to provide independent oversight and credible challenge to the Line of Business’ operational risk management activities
- Engage with the Front Line Control Executive teams, Business Management, and Independent Risk teams to promote a strong operational risk culture
- Active engagement in key Deposit Products risk governance routines inclusive of strategic planning sessions, governance committees, and business reviews
- Identify and escalate to business oversight leadership conflicts with risk management results and expected business outcomes
- Influence appropriate risk management prioritization by the front line to meet strategic business objectives, while meeting operational risk program expectations
- Evaluate cross-program and cross-group analytics to identify opportunities and best practices to influence stronger risk management practices by the business
- Active engagement with IRM risk teams supporting various risk types to ensure appropriate alignment and prioritization
- Develop and deliver oversight content summarizing the results of the independent risk assessment activities
- Develop and maintain relationships with Business Managers, Independent Risk teams, and Group Control Executive teams
- Facilitate IRM-sourced issues to the Deposit Products group as needed
- Provide a business-centric view to IRM Risk Programs as needed
- Leverage experience to bring industry leading standards, practices and tools to the organization
Locations: Any Wells Fargo hub location may be considered
Other Desired Qualifications
- Extensive subject matter expertise in Deposit Products function in a large financial institution
- Meaningful knowledge of an enterprise risk management framework, including: risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance
- Experience as a thought leader and influencer-with-impact
- Strong understanding of one or more enterprise risk function, business operations, processes, products and customer interactions where they manifest risk
- Proven leadership skills to drive alignment across stakeholder groups to develop and deliver repeatable end to end risk management solutions
- Strong understanding of corporate and/or business policies, and programs
- Demonstrated professional ability that embodies the Wells Fargo Vision and Values and leadership competencies
- Proven ability to scope, manage and execute complex risk management initiatives with high quality and timely delivery
- Flexibility and business savvy to navigate a complex, highly-matrixed organization
- Experience providing reporting and updates to senior-level management
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.