Compliance Officer- Asset Backed Finance Business Unit Compliance Officer

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.

This position supports Asset Backed Finance (ABF) part of the CIB Compliance team, reporting to Katy Soudmand with a focus on the banking and lending regulations. The candidate will be responsible for developing, implementing and monitoring risk-based compliance programs to identify, assess and mitigate any non-compliance with federal, state or agency law.

The candidate will work with the existing business unit compliance officers and help implement effective compliance program in accordance with the requirements of the Compliance department.

Specific duties include, but are not limited to, the following:

• Working with the current compliance program as well as identifying and implementing additional procedures and controls, as needed, to assure compliance with regulatory requirements, enterprise and wholesale policies and procedures. Gaining a detailed understanding of bank, broker dealer and holding company regulations is imperative;
• Evaluate industry practices and collaborate with internal partners to understand and develop policies and procedures for proposed regulations impacting the business;
• Develop in-depth knowledge of the products offered by the business, the inherent risks of such products and the policies, procedures and controls surrounding them;
• Update and enhance such policies, procedures and controls to meet the changing needs of the businesses;
• Report findings and develop business cases to influence senior management on the need for controls to mitigate risk;
• Identify training opportunities; design/coordinate the development of training materials and training delivery;
• Assist in planning and preparation for exams and audits; prepare and gather documents to respond to regulatory inquiries;
• Review to determine if employees are appropriately licensed;
• Conduct compliance risk assessments and control implementation;
• Work with other compliance partners and provide compliance risk expertise and consulting for projects and initiatives;
• Consult with the business to develop corrective action plans and effectively manage change to ensure regulatory compliance;
• Apply critical thinking skills to make independent assessments, articulate recommendations and defend conclusions;
• Build strong relationships and collaborate effectively with the business and other risk partners, including operational risk, legal partners, credit and market risk partners;
• Provide regulatory advisory support to the LOB;
• Monitor and assess regulatory changes and impacts;
• Support implementation and maintenance of compliance surveillance programs;
• Some travel may be required

• 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

• Strong research and documentation skills
• A BS/BA degree or higher

• 7+ years of experience in compliance advisory
• Proven knowledge of regulatory compliance, risk management and risk standards/controls
• Adaptable to dynamic work environment with multiple priorities and strict timelines
• Understanding of banking and lending regulations
• Ability to organize workload and prioritize for responsiveness and efficiency both individually and for the team
• Meets deadlines and works under pressure in a fast paced environment
• Ability to effectively communicate through oral, written and interpersonal communication skills to all levels of the organization
• Experience writing policies and procedures
• Experience preparing and presenting training
• Sound judgment; demonstrates analytical and problem solving capabilities with the ability to prioritize and escalate issues appropriately
• Ability to work well in a team-oriented environment
• Certified Regulatory Compliance Manager (CRCM), Law Degree or other advanced degree or designation
• Experience with Capital Markets & Broker Dealer regulations, including SEC and FINRA regulations.
• Experienced in Fixed Income Capital Markets at a Broker Dealer

• Ability to travel up to 10% of the time
• Willingness to work on-site at stated location on the job opening

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

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