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Business Risk & Control Associate - WFCO/KYC On-Boarding

Company: Wells Fargo
Location: Charlotte
Posted on: February 16, 2020

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 want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
The Role
Wholesale Financial Crimes Risk Control (WFCRC) is responsible for the coordination, oversight and ultimate execution of Wholesale Banking's commitments to key internal and external stakeholders as it relates to the management of financial crimes risk with the Wholesale Bank. In addition to having responsibility for Wholesale Banking's execution of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program, WFCRC is also responsible for the remediation of the OCC BSA/AML Consent Order. This team will partner with line of business ("LOB"), operations, risk and compliance team members, Wholesale Control Executive Office, Enterprise Financial Crimes Risk Management, Wells Fargo Audit Services, and Testing & Validation to advocate and ensure alignment in scope, purpose, expectations and execution of the Wholesale Financial Crimes Program. The team will achieve this through a focus on strong communication, strategic planning, thoughtful and meaningful tracking/reporting, and timely escalation and change management.
As a Business Risk & Control Associate, duties include but are not limited to:

  • Complete customer KYC for new & existing Customers
  • Assist with assessment of HRAs to determine SARF designation
  • Review due diligence screening results and escalate as needed. Team obtains and verifies required information from relationship team such as: legal entity/customer name; tax identification number; physical address; ownership; principals/parties who have control over the account, etc.
  • Responsible for developing, implementing and monitoring a risk-based program to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency.
  • May provide senior-level support for systems security-related issues.
  • Identifies training opportunities; may design/coordinate the development of training materials and delivers training.
  • Reports findings and drafts recommendations to mitigate risk to operational risk and business line management.
  • Coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies.
  • Conducts reviews of bank customers (individuals/entities), related parties (owners, board of directors, executives) and/or transactions that present a moderate to high level of complexity and risk to determine appropriateness for Wells Fargo
  • Conducts comprehensive research or background investigations on individuals, entities, organizations or locations to identify and mitigate associated sanctions, financial crime, and reputational risks and thoroughly documenting findings
  • Reviews and analyzes due diligence data for accuracy from a variety of sources; investigates discrepancies
  • Performs screening on customers against various regulatory reporting lists and regionally based sanctions watch lists and escalates identified risks appropriately
  • Evaluates risks to determine permissibility under sanctions, regulations and/or BSA/AML regulations
  • Communicates findings and provides appropriate direction to senior management, Wholesale Businesses and supplies guidance for course of action
  • Ensures compliance with guidelines set forth in federal/state anti-money laundering laws and regulations including the Bank Secrecy Act and various sanctions regulations, and in accordance with policy/procedures set by the bankTeam 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.

    Required Qualifications
    • 2+ years of experience in risk (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management demonstrated through work or military) or 1+ year in the foregoing or financial services industry and a BS/BA degree or higher in business or a related field

      Desired Qualifications
      • Intermediate Microsoft Office skills
      • Excellent verbal, written, and interpersonal communication skills
      • Strong analytical skills with high attention to detail and accuracy
      • Ability to interact with all levels of an organization

        Other Desired Qualifications
        • Onboarding experience
        • Wholesale experience

          Job Expectations
          • Ability to travel up to 10% of the time

            Street Address
            NC-Charlotte: 8505 Ibm Drive - Charlotte, NC

            Disclaimer

            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.

Keywords: Wells Fargo, Charlotte , Business Risk & Control Associate - WFCO/KYC On-Boarding, Accounting, Auditing , Charlotte, North Carolina

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