CIB Control - Structured Products Trading Control Officer

About this role:
Wells Fargo is seeking a Lead Control Management Officer for the Corporate & Investment Banking (CIB) Markets Control Organization. This role will help lead the improvement and sustainability in Front Line Control and implement leading practices to create a strong control environment.
This position is within the CIB Banking Control organization and will be responsible for providing risk management leadership and expertise to the Structured Products Trading team. The position will be responsible for leading risk identification, assessment, escalation, and mitigation strategies, and will perform programmatic day to day risk and control activities in support of and partnership with front line business teams. The leader should demonstrate "brilliance in the basics" in the execution of the Control function to meet regulatory commitments on time and with sustainable quality, while measurably improving the Wells Fargo control environment.
This role will be expected to take on leadership accountabilities in support of the risk transformation initiatives and will operate as the primary point of contact with key partners including Control, Independent Risk, and Business Leadership. Other responsibilities include, but are not limited to, providing risk management leadership and expertise on applicable bank policies and related risk and control process requirements.
In this role, you will:

• Lead complex initiatives designed to mitigate current and emerging risks with broad impact
• Act as key participant in monitoring, evaluating, and measuring the impact of decisions practiced in Control Management functional area
• Monitor moderately complex business specific programs, and provide risk management consulting to support the business in designing and implementing risk-mitigation strategies
• Monitor, measure, evaluate, and report on the impact of decisions and controls to the relevant business group or functional area
• Develop and implement risk monitoring and risk reporting processes and controls
• Collaborate with relevant business group to identify current and emerging risks associated with business activities and operations, and provide guidance in developing and implementing risk-mitigating strategies.
• Lead Control Management project or virtual teams

Specific CIB responsibilities include:

• Serve as the primary day-to-day lead coverage officer for Structured Products Trading
• Serve as Control team lead for risk governance and as the escalation point for all control issues for aligned business leaders and team.
• Act as the key point of contact in CIB Control for selected senior leaders in Structured Products Trading, Independent Risk Management, Internal Audit, regulators, and other constituents related risk and control requirements, performance, and enhancement efforts.
• Continuously engage in discussions with LOB partners on strategy, industry trends, organizational changes, and new/modified markets, systems, products and services, to determine impact and identify and remediate risk and control issues across all risk types.
• Guide the Structured Product Trading leaders through detailed risk and control evaluations, collection of metrics and supporting observations, and maintaining recurring forums to evidence management validation and attestation to RCSA.
• Responsible for issue management by documenting and assessing control weaknesses and operational risk incidents using methods such as root cause analysis.
• Consult with business process owners to develop corrective action plans and control redesign Oversee implementation progress and conduct control evaluation efforts as required.
• Coordinate with business and support partners for creation of Self-Disclosed issues in Issues Management system of record. Record losses in the system of record, as applicable.
• Management Reporting: Establish and update recurring and timely reports on risks, initiatives, and deliverables for communication with business leaders and risk partners.
• Exams / Reviews: Conduct advanced planning and coordination with appointed business contacts and internal testing and examination engagement leaders/teams such as EBCE, Independent Testing and Validation (IT&V), Internal Audit, and Regulatory exams.
• Control development, projects & platform initiatives: Develop business cases to influence process owners, control owners, business sponsors, and key risk partners on the need for additional or improved controls to mitigate risk; Work with the business and support teams to provide operational risk expertise and consulting for projects and platform initiatives, considering impacts to risk & control framework.
• Monitor and evaluate emerging risks, operational trends, and external events for potential impact to the control environment in context of RCSA.
• Provide ongoing, consolidated reporting to ensure senior leaders are aware of progress, risks, challenges, and results.
• Maintain the inventory of all relevant business processes, governance channels, internal testing, audit, regulatory engagements and prioritize internal preparation.
• Establish a formal communication channel to broadcast risk program updates, risk profiles, policy updates and other key risk program information to the senior leaders of all coverage areas.
• Continuously engage in discussions with LOB partners on strategy, industry trends, organizational changes, and new/modified markets, systems, products and services, to determine impact and identify and remediate risk and control issues across all risk types.
• Ensure appropriate connectivity, linkage, and integration with in-region international risk management teams accountable for LOB activities.
• Work with the business and support teams to provide operational risk expertise and consulting for projects and platform initiatives.
• Analyze business, industry, system changes or other material business environment changes to determine impact, identify and assess operational risk issues.

Required Qualifications:

• 5+ years of Risk Management or Control Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.

Desired Qualifications:

• Extensive front line direct experience with developing and/or executing risk and control assessment programs.
• Experience in identifying gaps and proposing corrective actions.
• Knowledge of Issue Management lifecycle.
• Experience in large and complex banking or broker/dealer institutions, risk management leadership experience in multi-jurisdictional global financial institution.
• Direct experience in operational risk reporting and escalation programs.
• Extensive knowledge of Target State RCSA, process, purpose, scope, the RAU Owners roles and responsibilities roles, accountabilities and deliverables.
• Strong knowledge of products, services, applicable regulations and policies, business processes, systems and customers in the Structured Products Trading space.
• Knowledge of the Risk Management Framework (RMF) concepts and policies across risk types (regulatory, credit, operational, etc.).

Job Expectations:

• Ability to travel up to 10% travel.
• Ability to work on site per Wells Fargo's standard operating model in one of the listed locations.

Posting End Date:
11 Jan 2024
*Job posting may come down early due to volume of applicants.
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At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
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