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Operational Risk Consultant 4 - Model Governance

Company: Wells Fargo
Location: Charlotte
Posted on: June 15, 2019

Job Description:

Job Description
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 responsibility for:

  • 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 changes.
  • 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**

    Required Qualifications
    • 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

      Desired Qualifications
      • Advanced 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
        • Significant knowledge of model risk and model risk management.
        • 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 various stakeholders.
        • Strong organizational skills.
        • Seasoned risk professional with model risk experience required.



          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 , Operational Risk Consultant 4 - Model Governance, Other , Charlotte, North Carolina

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