Operational Risk Consultant 4 - Model Governance
Company: Wells Fargo
Posted on: June 15, 2019
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.About Wells Fargo: Wells Fargo &
Company (NYSE: WFC) is a nationwide, diversified, community-based
financial services company with $1.7 trillion in assets. Founded in
1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and
commercial finance through 8,700 locations, 12,500 ATMs, and the
internet (wellsfargo.com), and has offices in 36 countries to
support customers who conduct business in the global economy. With
approximately 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo s vision is to satisfy
our customers financial needs and help them succeed financially.
Wells Fargo perspectives are also available at Wells Fargo Blogs
and Wells Fargo Stories.Corporate Risk helps all Wells Fargo
businesses identify and manage risk. The team focuses on several
key risk types, including conduct, credit, financial crimes,
information security, interest rate, liquidity, market, model,
operational, regulatory compliance, reputation, strategic, and
technology risk.The group provides leadership, enhances
communications, assists with problem identification and solutions,
and shares best practices. In addition, the group provides an
enterprise-wide view of risk, assists management and our Board of
Directors in identifying and monitoring risks that may affect
multiple lines of business, and takes appropriate action when
business activities exceed the risk tolerance of the
company.Corporate Model Risk: Wells Fargo s Corporate Model Risk is
responsible for independently overseeing the management of model
risk exposures across the enterprise (including governing,
monitoring, and reporting on aggregate model risk exposures, model
validations, and model oversight across enterprise). This oversight
extends to all phases of a model s life cycle, including
identification, development, validation, implementation, finding
resolution, usage, performance monitoring, documentation, and
retirement.CMoR (Corporate Model Risk) Governance: The CMoR
Governance Team is responsible for establishing policy and
procedures and providing independent risk governance leadership for
all models used across Wells Fargo, including assessing, reporting,
and escalating model risks and controls across the enterprise. The
team works closely with model users, group model governance teams,
Corporate Functional Model Oversight (CFMO) teams, and various
teams throughout CMoR to manage model risk across the firm.The
Role: The Operational Risk Consultant is responsible for governing
and monitoring activities that ensure that the model inventory and
the associated model risks are accurately identified and managed
across the firm. Specifically this individual will have
- Manage model inventory and validation projects Drive completion
of model identification and validation process (referred to as the
Deep Dive ) across the firm and establish priorities and scope for
further inventory assessments and activities to ensure a complete,
accurate, and compliant model inventory across WFC.
- Review business activities and provide effective challenge to
help business teams identify potential gaps in controls and
monitoring activities vs the model risk policies and prioritize
proposed risk mitigation activities for addressing priority
business process gaps
- Policy development and maintenance Develop and maintain policy,
procedures and guidance related to model inventory and validation
processes. Work with businesses to explain/train on requirement
- MoRS development and maintenance Work with project managers,
and developers to write requirements for changes to the Model Risk
System as needed to support ongoing process changes to the model
risk program.Establish and execute process to synthesize data for
an on-going and routine basis which enables analyses and data
visualization to timely meet deadlines.
- Facilitate working sessions with business teams; engage SMEs
and process activity owners as needed to document and validate
business process objectives, process maps, risks, controls,
monitoring activities, and remediation opportunities
- Build and maintain effective working relationships with LOB
Model Governance, Model Owners, CFMOs, and other external partners
and stakeholders across Wells Fargo. Provide mentoring where
appropriate around Model Inventory processes and requirements.
- Understand model risk supervisory guidance, Model Risk
Management Policy, and current industry best-practices.**Open to
all Major WF Hub locations but highly prefer Charlotte, NC**
- 6+ years of experience in compliance, operational risk
management (includes audit, legal, credit risk, market risk, or the
management of a process or business with accountability for
compliance or operational risk), or a combination of both; or 6+
years of IT systems security, business process management or
financial services industry experience, of which 3+ years must
include direct experience in compliance, operational risk
management, or a combination of both
- Advanced Microsoft Office skills
- Excellent verbal, written, and interpersonal communication
- Strong analytical skills with high attention to detail and
- Ability to interact with all levels of an organization
Other Desired Qualifications
- Significant knowledge of model risk and model risk
- MoRS system knowledge.
- Strong technical understanding of model development and drivers
of model risk.
- Strong analytical skills.
- Strong leadership skills.
- Strong communication skills.
- Ability to work with highly technical individuals.
- Ability to aggregate individual risk elements into a broader
summary of model risk.
- Understand regulatory expectations.
- Ability to coordinate activities across the company with
- Strong organizational skills.
- Seasoned risk professional with model risk experience
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, Charlotte , Operational Risk Consultant 4 - Model Governance, Other , Charlotte, North Carolina
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