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Wells Fargo
- London
- Wells Fargo - London
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul.
Main Function of the Job
The EMEA Operational Risk Testing & Validation Team (‘the Testing Team’) sits within International Testing & Validation and assesses the adequacy and effectiveness of controls relating to Operational risks.
The EMEA Operational Risk Testing Consultant (‘the Consultant’) will help to perform primarily testing and validation in accordance with the Testing and Issues Validation Plan in relation to Operational Risk. The role will report to the EMEA Operational Risk Testing & Validation Team Leader.
(Note: In addition to these functions employees are required to carry out such other duties as may reasonably be required)
Responsibilities
- As part of the team, engage with key stakeholders within relevant lines of business and Operational Risk team members to effectively plan testing activity, coordinating this with the relevant Engagement Lead;
- Perform Operational risk testing activities that independently evaluate the adequacy and effectiveness of critical end-to-end processes and controls relevant to Wells Fargo’s businesses based on defined testing plan and methodology;
- Assist with keeping all stakeholders appraised of review progress through formal updates as to fieldwork, potential issues so that issues are not ‘surprises’ for lines of business;
- Assist with planning and performing issues and corrective actions validation activities that independently evaluate the adequacy, comprehensiveness and effectiveness of corrective actions taken to remediate issues based on defined methodology;
- Identify and raise gaps, issues and recommendations for control enhancements for review and work with more senior members of the team to formally agree associated action plans in consultation with the relevant senior management;
- With direction where needed, formally document testing activity within the working papers in accordance with the methodology;
- Support writing reports and presentations that clearly articulate the results/conclusions of testing activities;
- Monitor corrective actions to completion;
- Assist in building the understanding of the operational risk frameworks and the interconnectivity of its key components;
- Build understanding of business operations and regulatory guidance/expectations.
Market Skills and Certifications
Skills/Experience Required:
- Operational risk testing or other related experience within an internal/external audit or other relevant testing function at global financial institutions.
- Knowledge of front to back activities and key processes pertaining to wholesale banking or capital markets or wealth & investment management or corporate staff group businesses is desirable.
- Ability to operate in a complex and matrixed environment.
- Good interpersonal, building relationships and communication (written and presentation) skills with an ability to liaise professionally across all levels.
- Good organizational, prioritization and time-management skills.
- Ability to work independently, self-starter and highly motivated to work in a fast paces and changing environment.
- Proven track record of working collaboratively and demonstrated ability to work effectively as part of a team.
- A BS/BA degree in accounting, finance or business administration.
- Relevant professional certification (CIA, ACA, ACCA etc.) is an added advantage.
- Strong computing skills including Microsoft Excel, Word, Power point, Visio and other reporting tools.
- Ability to travel 10% or more of the time across EMEA.
Team members 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.