Commercial Banking SCRA & FCRA Compliance Officer

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Job description

Job Description
Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as "Personal Cell" or "Cellular" in the contact information of your application.
At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
As the company's second line of defense, Corporate Risk - or Independent Risk Management - provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of, the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk. Corporate Risk roles depend on a variety of skills, including: Data analysis and synthesis, root cause analysis, change management, process management & execution, risk governance, risk strategy, risk identification & assessment, risk prevention, controls & mitigation, risk monitoring, reporting & escalation, risk systems & technology.
The Commercial Banking Regulatory Compliance (CBRC) function is a part of Commercial Banking Compliance within Independent Risk Management and is responsible for providing governance and oversight for the U.S. bank regulatory compliance programs for Commercial Banking (CB). The CBRC function assesses the comprehensiveness of compliance processes and controls for the Commercial Banking businesses to adhere to and comply with U.S. banking laws, regulations, and rules and in implementing Wells Fargo compliance policies, standards, and programs. Methods developed to provide for compliance with these U.S. laws, regulations and rules include the establishment and maintenance of applicable policies, standards, programs, and procedures documenting internal controls; implementation of surveillance and monitoring capabilities; provision of training and advisory support, and production of Key Risk Indicator metrics.
This position will support the Consumer Compliance Program team within CBRC. The compliance officer will be responsible for overseeing CB Fair Credit Reporting Act (FCRA) and Servicemembers Civil Relief Act (SCRA) compliance, and other consumer banking regulations such as Regulation E or Unclaimed Property/Escheatment. The compliance officer will provide support to business-aligned compliance partners, front line businesses and enterprise compliance and risk functions for Commercial Banking broad based projects, reporting requirements, and information gathering. Key to this role is the ability to serve as a subject matter specialist for FCRA, SCRA and other consumer regulation compliance requirements. The compliance officer will need to demonstrate a strong understanding of internal policy and regulatory requirements associated with FCRA and SCRA, while partnering with front line business and control partners, business-aligned compliance officers, enterprise compliance and Legal to determine (or validate) requirement applicability for the Commercial Banking businesses. This will include consultation with Enterprise Compliance Officers, control managers and the Wells Fargo Legal Department for any regulatory or policy interpretation as applicable.
This position includes the following responsibilities:

• Providing consulting and advisory services to the Commercial Banking compliance partners and businesses on matters involving FCRA, SCRA and other consumer banking regulations such as Regulation E or Unclaimed Property/Escheatment
• Conducting and reporting activities associated with the Commercial Banking-wide compliance oversight program
• Providing monitoring and independent oversight of the Commercial Banking FCRA and SCRA compliance processes as they relate to policy and procedure requirements
• Capturing, developing, documenting and where necessary escalating challenges.
• Reviewing and providing guidance for compliance related mitigation/remediation plans
• Delivering relevant updates related to assigned coverage areas on the monthly Commercial Banking Consumer Regulation Community of Practice (COP) and participate in additional CBRC sponsored COPs
• Evaluating the adequacy of and effectiveness of policies, procedures, processes and internal controls and providing credible challenge to business aligned compliance partners, front line businesses and front line control
• Advising complex business units and providing in coordination with the enterprise compliance officer FCRA, SCRA, and other consumer regulation expertise and consulting for testing programs managed by Independent Testing and Validation which may include the review of test scripts
• Maintaining awareness of new/outstanding issues, testing/reviews completed by IRM, Audit and Regulators, authoritative source information (governance, MR descriptions, MR accepted population). Communicating updates through team meetings, biweekly management reporting and quarterly metric reporting
• Consulting with business-aligned Compliance and front-line partners as necessary to develop corrective action plans and mitigation strategies to address identified FCRA and SCRA process or control deficiencies
• Implementing, reviewing and/or updating applicable Commercial Banking group-level advisories and training; providing advisory support to applicable business level FCRA, SCRA or other consumer banking regulation training
• Participating in enterprise policy and training development projects, providing reviewer feedback and Commercial Banking expertise to be considered for incorporation
• Supporting business led projects/initiatives to identify regulatory risk; will include the review of Business Requirements Documents or other project documentation as needed
• Supporting enterprise related assessments, internal audits or regulatory examinations as needed

Required Qualifications

• 7+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management

Desired Qualifications

• 4+ years of risk and regulatory compliance experience
• Ability to prepare presentations, management reporting, and statistical analysis
• Advanced Microsoft Office skills
• Excellent verbal, written, and interpersonal communication skills
• Strong analytical skills with high attention to detail and accuracy
• Strong presentation skills
• An active Certified Regulatory Compliance Manager (CRCM) designation

Other Desired Qualifications

• Moderate knowledge of Fair Credit Reporting Act (FCRA) and Servicemembers Civil Relief Act (SCRA) requirements applicable to commercial activities
• Expertise in consumer protection regulations with an emphasis/experience in lending related laws and regulations as they apply to commercial purpose lending and an ability to apply that knowledge
• Proven knowledge of operational risk, business operations, and processes and systems controls across a variety of complex financial services related businesses
• Experience in building/designing a control infrastructure through policies, procedures, guidance documents, and training development
• Strong presentation, analytical and reporting skills with high attention to detail and accuracy
• Ability to work independently with a minimum of direct supervision
• Knowledge of Wells Fargo Risk Management Systems such as SHRP, RCSA, ORIS, TRIMS

Job Expectations

• Ability to travel up to 15% of the time

Street Address
AZ-Chandler: 2700 S Price Rd - Chandler, AZ
AZ-Tempe: 1150 W Washington St - Tempe, AZ
MN-Minneapolis: 600 S 4th St - Minneapolis, MN
NC-Charlotte: 301 S Tryon St - Charlotte, NC
TX-DAL-Downtown Dallas: 1445 Ross Ave - Dallas, TX
TX-Irving: 250 E John Carpenter Freeway - Irving, TX
TX-Plano: 4975 Preston Park Blvd - Plano, TX
IA-West Des Moines: 7001 Westown Pkwy - West Des Moines, IA
MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO

Disclaimer

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.

Benefits Summary
Benefits

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