Financial Crimes Risk Management- Line of Business Oversight, Financial Crimes Director
Company: Wells Fargo Bank
Posted on: February 16, 2020
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells
Fargo?s vision is to satisfy our customers? financial needs and
help them succeed financially. Founded in 1852 and headquartered in
San Francisco, Wells Fargo provides banking, investment and
mortgage products and services, as well as consumer and commercial
finance, through 7,600 locations, more than 13,000 ATMs, the
internet (wellsfargo.com) and mobile banking, and has offices in 32
countries and territories to support customers who conduct business
in the global economy. With approximately 263,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 29 on Fortune?s 2019 rankings
of America?s largest corporations.
Independent risk management is Corporate Risk, helps all Wells
Fargo businesses identify and manage risk. The focus is on three
key risk areas: credit risk, operational risk and market risk.
Corporate Risk helps our management and Board of Directors identify
and monitor risks that may affect multiple lines of business, and
take appropriate action when business activities exceed the risk
tolerance of the company.
Wells Fargo Compliance is the company?s compliance second line of
defense function, providing company-wide leadership, standards,
support, and independent oversight to ensure that all business
groups abide by applicable laws, rules, regulations and regulatory
guidance (regulatory requirements), meet compliance
responsibilities, and manage compliance risks. Wells Fargo
Compliance credibly challenges management decisions, business
processes and activities, and evaluates and assesses adherence to
applicable regulatory requirements. It provides appropriate
analysis, reporting, and escalation to senior management and the
Board of Directors, sets minimum standards for the company, and
gives advice, guidance, and support for compliance risk management
activities across the enterprise.?
Financial Crimes Risk Management?
The Financial Crimes team is responsible for implementing and
maintaining an effective financial crimes program for the company
that complies with all applicable laws, regulations, and regulatory
expectations including Bank Secrecy Act, Anti-Money Laundering,
Counter-Terrorist Financing, and Global Sanctions. Provides
direction and leadership for execution and ongoing management of a
risk-based financial crimes program across the enterprise or a
major business(es) with considerable risk. Directs the development
and implementation of procedures, controls, analytics and trend
analysis to ensure proactive identification, prevention, execution,
detection, investigation, recovery and government/internal
reporting of financial crimes activity. Fosters an environment that
ensures strong communication and cooperation across the three lines
of defense to facilitate transparency, balance and credible
challenge. Provides thoughtful independent credible challenge to
line of business and across other risk programs. Maintains an
awareness of financial crimes activity across the enterprise and
the industry and is viewed as a subject matter expert within the
industry. Directs the use of internal and external data, including
publicly available information. Oversees programs or initiatives
related to a line of business and/or an Enterprise strategy with
considerable impact across the enterprise and externally. Key
interface and fosters relationships with corporate, business heads,
Legal, Audit, regulators, and industry partners on risk related
topics. Manages a team of Sr Managers, Managers and/or Sr Officers
from cross-functional teams in accomplishing group strategic
The Financial Crimes Risk Management (FCRM) Line of Business
Oversight Group (FCRM Oversight) is a newly-formed function that
will provide more direct oversight of the financial crimes risk
management program in each line of business, including (but not
limited to) day-to-day execution of due diligence activities;
processes for identifying, managing, and escalating issues; and
management of major risk projects (including those related to MRAs,
Consent Orders and Audit issues). The group will work closely with
each line of business Financial Crimes Control Leader (who retain
direct responsibility for program execution), and other groups in
FCRM and across Wells Fargo.
The person in this role will report directly to the head of FCRM
Oversight and be the engagement leader for one of the major lines
of business (Wholesale; Consumer; Wealth & Investment Management;
Payment, Virtual Solutions, and Innovation), working closely with
the line of business Financial Crimes Control Leader to ensure the
success of the line of business financial crimes program.? Since
this is a new group and role, the successful candidate will need to
build an oversight program that is deeply engaged in all aspects of
the line of business financial crimes program through a mix of
direct involvement with line of business leaders; analysis of
reporting (both narrative and data driven); monitoring progress on
key projects; ongoing credible challenge; and other methods
specific to each line of business that help ensure timely issue
identification and resolution.? In addition to working closely with
the line of business Financial Crimes Control leader, the person in
this role will need to develop strong partnerships with other
senior people in the lines of business and across Financial Crimes
Risk Management (including Wells Fargo?s BSA Officer and the FCRM
Governance group), the Legal Department, Internal Audit, Enterprise
Testing & Validation, Compliance Risk Management, etc.? The person
in this role will also frequently work with regulators.The
Leadership, integrity, and credibility will be determining factors
in selection.? Successful candidates will be articulate and possess
a demonstrated leadership capability; they will be impressive in
their inter-personal effectiveness and with regard to their
accomplishments.? It requires a leader with strong relationship
management, influencing, vision and execution skills.? A key
differentiator will be the ability to understand and operate
successfully in a complex, heavily matrixed corporate environment.
The role requires a sense of urgency, passion for results, and
personal accountability for achievement.?? This role will support
the development of a strong risk culture within and across the
enterprise, including mindsets and behaviors to elevate the
consciousness of conduct risk, drive conduct risk ownership,
responsiveness, cooperation and challenge.
As a Manager, you are expected to achieve success by leading
yourself, your team, and the business. Specifically you will:
--- Lead your team with integrity and create an environment where
your team members feel included, valued, and supported to do work
that energizes them.
--- Accomplish management responsibilities, which include sourcing
and hiring talented team members, providing ongoing coaching and
feedback, recognizing and developing team members, identifying and
managing risks, and completing daily management tasks.
--- Coordinate resources across other areas of Corporate Risk to
share knowledge, develop wider career pathing, and ensure high
integrity and credibility in all resources.
--- 7+ years of management experience
--- 10+ 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 12+ years of financial services industry experience,
of which 10+ years must include direct experience in risk
Other Desired Qualifications
--- Diverse risk management experience including Front-line risk
experience in one or more lines of business.? Other experience
relevant to the lines of business, such as through audit or risk
--- Management of larger, more complex functions or projects.?
--- Experience designing and executing enterprise-wide financial
crimes risk management programs, including high-risk customer due
diligence, anti-money laundering monitoring and investigations,
customer and third party investigations, global sanctions
screening, investigations, reporting and blocking, surveillance
systems and model ownership.
--- Expert-level knowledge of AML laws and regulations, including
the Bank Secrecy Act, USA PATRIOT Act, OFAC regulations and
associated compliance programs.
--- Deep experience in managing AML compliance programs at a large,
complex bank, financial institution or equivalent.
--- Deep understanding of the ever-evolving governance and
regulatory environments as well as industry and financial
crime-related best practices
--- Organizational courage and willingness to make tough, informed
decisions and thoughtfully share independent perspectives.
--- Strong analytical, critical thinking and problem-solving
skills, coupled with an ability to translate ambiguous ideas/issues
into well-defined plans/solutions with a track-record for
--- Effective communicator, both orally and in writing, able to ask
well-crafted questions and present ideas in a clear and compelling
manner, good listener who engenders creative thinking and
--- An ability to develop and articulate sound proposals to key
stakeholders, and an ability to influence and drive timely decision
--- Proven ability to cultivate relationships and collaborate with
multiple stakeholders and constituencies, including business
leaders, legal, audit and multiple U.S. and non-U.S.
--- Proven experience establishing a large-scale vision, developing
the strategy to support the vision, gaining consensus across key
functional leadership areas through effective communication and
successful delivery against goals and objectives.
--- Experience driving large-scale organizational change.
--- Proven ability to build and lead high-performing teams,
ensuring proper staffing and expertise, and manage the
establishment of major policies and relevant compliance programs
across major business divisions within a large and complex
--- Ethical integrity and proven ability to serve as a role model
by reinforcing and demonstrating to your team members the core
values and behavioral expectations contained in Wells Fargo?s
Vision, Values & Goals.
--- Advanced Degree preferred (Masters, MBA, or JD).
--- ?Any major Wells Fargo Hub will be considered; Charlotte, NC
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
Keywords: Wells Fargo Bank, Charlotte , Financial Crimes Risk Management- Line of Business Oversight, Financial Crimes Director, Accounting, Auditing , Charlotte, North Carolina
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