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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