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Lead Operational Risk Officer - Third Party Oversight

Company: Wells Fargo
Location: Tempe
Posted on: August 6, 2022

Job Description:

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.About this role:Wells Fargo is seeking a Lead Operational Risk Officer - Third Party Oversight for Independent Risk Management within Corporate Risk...Learn more about the career areas and lines of business at The Lead Operational Risk Officer for Line of Business Third Party Risk Oversight will join a high caliber Third Party Risk Management Oversight team. This team is responsible for maintaining a strong operational risk culture, formulating risk appetite and tolerances, and for maintaining a program to identify, assess, measure, monitor, control, and report on the enterprise third party operational risks. Consistent with other programs in Corporate Risk, this program provides independent risk management oversight (Second Line of Defense) to ensure an independent, integrated, and holistic view of Wells Fargo third party risks.With knowledge of global third party guidance this individual contributor role will engage business and risk resources within the front line and across the firm to influence and challenge third party risk management activities and decisions. This role will maintain and mature third-party independent risk management coverage activities that include assessments, control evaluations, monitoring and testing spanning across Wells Fargo business groups and enterprise functions. This individual is also expected to build a broad range of professional relationships to effectively work with key stakeholders across the enterprise.In this role, you will:Perform Independent Risk Assessment of Operational Third-Party Risk

  • Risk profiling of the line of business activities to take stock of movements across the portfolio and identify the need for further activities to manage and mitigate any exposures
  • Create independent risk assessments of third-party risks and use this information to review & challenge first-line of defense assessments of third-party riskOffer Risk Capabilities
    • Maintain ongoing line-of-sight to line of business strategic plans, new business initiatives, RAM/KRIs and operational risk events
      • Produce qualitative and quantitative second line of defense third party risk reporting
      • Prepare executive and committee level reports on third party risk monitoring, oversight, assessments, targeted reviews, testing and targeted control evaluations
      • Prepare regulatory and audit responses
      • Engage stakeholders on third party risk matters and provide subject matter expertise as neededPerform Coverage Activities
        • Execute monitoring plan for the line of business to assess third-party control effectiveness through oversight of testing, risk acceptances, risk measurement, reporting
        • Confirm remediation and alignment with internal operational risk governance frameworks
        • Write Point of View papers for key themes coming out of line of business oversight activities to drive remediation necessary to mitigate risk
        • Provide independent second line of defense oversight and challenge to the first line of defense to strengthen third party risk management, compliance and regulatory risk management, business processes and governance
        • Identify and formally raise issues to properly capture observed control deficiencies for the first line to address through corrective actions.Perform Issues & Regulatory Remediation Oversight
          • Review mitigation/remediation plans arising from issues identified through coverage activities and provide advice on effectiveness and alternative mitigation approaches
          • Participate in critical enterprise programs or projects with significant third-party impactsStakeholder Engagement
            • Attend and present at risk committees and at working groups to ensure appropriate third party risk management coverage and understanding
            • Collaborate with first and second lines of defense partners in the establishment and maintenance of processes for third party risk domain
            • Collaborate across the Independent Risk Management teams to fulfill commitments consistent with the enterprise operational risk management engagement model.
            • Advocate for line of business needs to the enterprise Third Party Risk Management Oversight team to ensure consideration and inclusion. Preferred location(s) listed above. Other locations within the Wells Fargo footprint may be considered for current Wells Fargo employees. Required Qualifications, US:
              • 5+ years of Operational Risk experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, educationDesired Qualifications:
                • Ability to effectively challenge partners on risk management practices
                • Demonstrated ability to develop written program materials, including summary level risk reporting
                • Demonstrated experience managing aggregated risk of third parties, including risk identification, assessment, prioritization, monitoring and reporting
                • Advanced Microsoft Office skills
                • Excellent verbal, written, and interpersonal communication skills. Ability to articulate complex concepts, and tell a crisp, concise story at a senior level
                • Strong analytical skills with high attention to detail and accuracy
                • Solid understanding of regulatory expectations (e.g. OCC, FRB, FDIC, NY-DFS, GDPR) for implementing a 3rd Party Risk Management Framework and the proper procedures for effective governance, monitoring and reporting
                • Ability to manage initiatives including: detailed planning, process management, and documentation
                • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
                • A BS/BA degree or higher
                • Demonstrated experience managing a fair, risk-based and formal practice to ensure a viable best fit based on specified requirements
                • Experience monitoring and providing independent oversight of front line process dedicated to the end-to-end third party risk management lifecycle
                • Prior experience with tracking, monitoring and implementing corrective actions for Compliance/Operational Risk.
                • Enterprise Program Management experience
                • Experience within Second line of defenseJob Expectations:
                  • Ability to travel up to 10% of the time We Value Diversity At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law. Employees 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. Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

Keywords: Wells Fargo, Tempe , Lead Operational Risk Officer - Third Party Oversight, Other , Tempe, Arizona

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