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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.
The Wells Fargo EMEA Financial Crime Risk Management team has a new opportunity for an experienced testing consultant to join the team based in London on a fixed term contract basis for twelve to eighteen months.
In accordance with the Annual Testing Plan, perform Thematic or specific reviews across multiple entities, lines of business or locations as directed by the FCRM Testing Team Lead. All team members to execute reviews per Regulatory Compliance Risk Management (‘RCRM’) standards:
Responsibilities include:
- Engage with key stakeholders within relevant lines of business and with relevant control function team members (senior compliance management, audit and operational risk) to effectively plan and scope Testing activity, coordinating this with the FCRM Team Lead ;
- Perform and document ‘fieldwork’ within the relevant lines of business and test system and control effectiveness and design (in accordance with relevant Wells Fargo testing and sampling methodologies as appropriate);
- The Consultant will assist other Team Members with additional Reviews as directed by the FCRM team Lead;
- Keep all stakeholders appraised of review progress through formal and face to face updates as to fieldwork, potential issues so that issues are not ‘surprises’ for lines of business etc.;
- Raise appropriate recommendations for system and control enhancements and formally agree associated action plans (e.g. a change to systems, controls, governance structures, policies or procedures) with relevant senior management;
- Raise appropriate recommendations when system and control gaps have been identified and formally agree associated action plans (e.g. a change to systems, additional controls, governance structures, policies or procedures) with relevant senior management;
- Formally document review activity and raise findings within ‘Review Activity Reports’ and following a quality assurance process, submit these to senior management; and
- Work with risk colleagues and lines of business to formally track and validate issues to closure.
Thematic Review Reporting:
The Consultant will identify issues during testing activities, report issues requiring senior management attention within Review Activity Reports and track these via a Centralized Issue Management system in accordance with International Testing and Validation standards.
- The Consultant will assist other Team Members with additional Reviews reporting as directed.
- The Consultant will assist with the creation and maintenance of risk based Testing and Validation Management Information for senior management throughout EMEA as directed, and ensure that:
- metrics are relevant and cover all aspects of compliance / non-compliance with relevant FCRM thresholds;
- dashboards are appropriately communicated to senior management; and
- Exceptions / failures to meet threshold requirements are appropriately escalated and measures taken (including disciplinary measures) documented.
Market Skills and Certifications
Other Responsibilities Include:
- Attend relevant International and EMEA conference calls, meetings and Committees in order to discuss RCRM, Testing and Validation standards and issues raised, as directed by management.
- Undertaking relevant regulatory and corporate training as required / directed to maintain competence.
- Under direction of Management, provide cover arrangements as per cross training or with other Monitoring and Testing work to assist the wider Testing team in times of need.
- Team members are required to assist with other ad hoc matters as may be required by Management from time to time.
- Team members are required to assist with other ad hoc matters as may be required by EMEA Central Compliance Management from time to time.
Skills/Experience Required:
A proven track record of FCRM Compliance testing or other related experience gained within an internal audit or other relevant risk function gained in the Wholesale Banking or other regulated sector (e.g. Commodities Trading) is desirable.
- Degree educated.
- Generalist FCRM / compliance / regulatory experience, preferably within a central compliance shared service function.
- Working knowledge of the UK / EMEA regulatory environment and how FCA, PRA and regulatory requirements apply to wholesale banking lines of business (This would ideally include specific experience of Irish or other European regulatory environments).
- General understanding of UK and US regulatory rules and best practice is desirable.
- Business awareness –understanding of wholesale banking activities and requirements.
- Communication – strong interpersonal, communication (written and presentation) skills are essential with an ability to liaise professionally and with diplomacy.
- Organization – strong organizational, prioritization and time-management skills.
- Team working – a proven track record of working collaboratively across multiple business lines is required
- Flexibility / Initiative – ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast paced deadline driven environment.
- Analytical skills – Strong analytical skills with experience in collecting, analyzing, and synthesizing information on various subjects.
- Computing skills – Strong PC Skills including Microsoft Excel, Access, Word, PowerPoint and other reporting tools.