Financial Crimes Testing & Validation - Independent Testing Executive
Corporate RiskAs the company's second line of defense, Corporate Risk — or Independent Risk Management — provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.Independent Testing & ValidationIndependent testing and validation (IT&V) is an important stage in the risk management process. Testing enables us to assess the effectiveness of business risk-mitigating controls and ensure they are designed and operating effectively to mitigate risk and meet regulatory requirements. Control testing activities are point-in-time reviews that independently assess adherence to regulatory and internal policy requirements and evaluate the effectiveness of business processes, controls, and risk management activities. Control testing activities are performed on a pre-defined frequency based on the level of risk for a given process, control, or activity.About this role:Wells Fargo is seeking a Financial Crimes Testing & Validation Independent Testing Executive. As a part of Wells Fargo's second line of defense and Independent Risk Management team, Independent Testing Executives are responsible for development and design of methodologies and standards for review activities and ensuring effective and appropriate testing, validation, and documentation of review activities for risks and controls according to standards and other applicable policies.The Financial Crimes Testing and Validation Independent Testing Executive will be responsible for leading a team of risk professionals who are accountable for leading Financial Crimes testing and validation efforts, providing independent, comprehensive testing of operational and compliance risks for Financial Crimes, and enhancing collaboration with key business partners. This person will work with IT&V teams and partners to identify strategic opportunities.In this role, you will:
Manage a team that includes multiple levels managers in accomplishing overall strategic priorities
Develop and design methodologies and standards for review activities across the Enterprise in alignment with the Risk Management Framework
Ensure effective and appropriate testing, validation, and documentation of review activities for risk programs, risks, and controls according to standards
Provide strategic leadership and manage execution of significant elements of companywide testing programs
Serve as primary representative for Independent Testing and foster key relationships with corporate, business heads, Legal, Audit sub-committees, and executive leadership forums
Independently challenge testing related business management decisions, processes and activities
Oversee programs or initiatives related to a line of business or an Enterprise strategy with considerable impact across the Enterprise and externally
Own oversight of line of business or regional programs to ensure effective, efficient and accurate testing and validation
Serve as primary contact for corporate, business heads, Legal, Audit, regulators, industry partners, elected officials and trade groups on risk related topics
Manage an entire program or series of initiatives related to a business or an Enterprise strategy with significant impact across the Enterprise and externally
Manage allocation of people and financial resources for Independent Testing
Develop and guide a culture of talent development to meet business objectives and strategy
As a leader, you will lead your team with integrity and create an environment where your employees feel included, valued, and supported to do work that energizes them. You will have accountability for management responsibilities which include sourcing and hiring talented employees, providing ongoing coaching and feedback, recognizing, and developing employees, identifying, and managing risks, and completing daily management tasks.Required Qualifications:
8+ years of experience in Independent Testing experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
4+ years of Management experience
Desired Qualifications:
7+ years of leadership experience.
6+ years of IT&V leadership experience
Proven track record of building, transforming, and maintaining high performing organizations
Expertise with testing methodologies, quality assurance processes, and financial services line of defense model
Graduate Degree in Financial Services, Business Management, Accounting, or related field
Extensive experience in data/metric driven management techniques involving goal setting, goal measurement, and goal delivery
Experience leveraging data (structured and unstructured) and automation to improve speed, quality and efficiency
Financial Crimes centric certification (s) such as CAMS, CFCS and/or CFCI
Demonstrated expertise in key financial crimes areas including but not limited to Know Your Customer (KYC), Customer Identification Program (CIP), Customer Due Diligence (CDD), sanction screening, non-financial regulatory reporting for financial crimes, and Suspicious Activity Reporting (SAR)
Deep understanding and hands-on experience with resource capacity management topics and tools
Lead effectively in a matrixed organization, developing partnerships with many functional areas, and influencing skills.
Ability to think strategically, identify business challenges, and proactively develop innovative solutions to address them.
Strong interpersonal skills with the ability to effectively communicate complex ideas, collaborate across departments, and build consensus among stakeholders.
Proven ability to adapt to evolving technologies, industry trends, and business requirements, with a commitment to continuous learning and professional development
Job Expectations:
Travel up to 10% of the time
Foster an environment that ensures strong communication and cooperation across the three lines of defense.
Create a culture of excellence by proactively attracting, retaining, and developing a team of talented and diverse professionals.
Independent Testing Executive (M5): As a part of Wells Fargo's second line of defense and Independent Risk Management team, Independent Testing Executives are responsible for development and design of methodologies and standards for review activities and ensuring effective and appropriate testing, validation, and documentation of review activities for risks and controls according to standards and other applicable policies.
Base pay range 207,900 - 431,900Pay RangeReflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.$207,900.00 - $431,900.00BenefitsWells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs (https://www.wellsfargojobs.com/en/life-at-wells-fargo/benefits) for an overview of the following benefit plans and programs offered to employees.
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance
Parental leave
Critical caregiving leave
Discounts and savings
Commuter benefits
Tuition reimbursement
Scholarships for dependent children
Adoption reimbursement
Posting End Date:13 Nov 2024 Job posting may come down early due to volume of applicants.We Value DiversityAt 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, status as a protected veteran, or any other legally protected characteristic.Applicants with DisabilitiesTo request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo (https://www.wellsfargojobs.com/en/diversity/disability-inclusion/) .Drug and Alcohol PolicyWells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy (https://www.wellsfargojobs.com/en/wells-fargo-drug-and-alcohol-policy) to learn more.Wells Fargo Recruitment and Hiring Requirements:a. Third-Party recordings are prohibited unless authorized by Wells Fargo.b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.Req Number: R-413365