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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.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
The Wholesale Financial Crimes Risk & Control (WFCRC) team is responsible for the coordination, oversight and ultimate execution of Wholesale Banking's commitments to key internal and external stakeholders as it relates to the management of financial crimes risk with the Wholesale Bank. WFCRC has responsibility for Wholesale Banking's execution of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program. This team will partner with line of business ('LOB'), operations, risk and compliance team members, Wholesale Control Executive Office, Enterprise Financial Crimes Risk Management, Wells Fargo Audit Services, and Testing & Validation to advocate and ensure alignment in scope, purpose, expectations and execution of the Wholesale Financial Crimes Program. The team will achieve this through a focus on strong communication, strategic planning, thoughtful and meaningful tracking/reporting, and timely escalation and change management.
The Financial Crimes Operations team within Wholesale Financial Crimes Risk Control is seeking a Bus Risk & Control Sr Associate to join the Enhanced Due Diligence Assessment Team. The geographically disbursed team interacts with the lines of business to assess and document customer risk and mitigating factors. This Bus Risk & Control Sr Associate (individual contributor) will be responsible for executing high profile and complex financial crimes risk assessments of Wholesale customers requiring enhanced due diligence. The candidate will also provide subject matter expertise on not just risk, but understanding of customers, trends and products and services used, to include transactional analysis. The team member will consult with the business line to help execute to the risk standards and processes as well as act as a leader on the team by way of training, coaching, mentoring and acting as a back up to their respective manager. This Sr Associate will help identify training opportunities; design/coordinate the development of training materials, and will coordinates and deliver training, depending on needs.
The Business Risk and Control Sr. Associate is responsible for partnering with the relevant business group to identify, assess, manage and mitigate current and emerging risk exposures associated with their activities and operations. Monitors, measures, evaluates, and reports on the impact of decisions and controls to the relevant business group and enterprise function. Consults and provides guidance to business groups on the development, implementation, and monitoring of moderately complex business-specific programs to identify, assess, and mitigate risk. Consults and provides support in the interpretation of policy, guidelines, and governance programs. Provides risk management consulting to support the business in designing and implementing risk mitigation strategies, business processes and controls that mitigate risks and address regulatory requirements. Develops and implements risk monitoring and risk reporting processes and controls. Aggregates, evaluates, reports results and escalates where necessary.
Senior team members 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 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 while completing Enhanced Due Diligence Assessments. This individual contributor must be capable of initiating action and managing change in a fast paced environment. It requires a contributor with strong relationship management, influencing, vision and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex environment. The role requires a sense of urgency, passion for results, and personal accountability for achievement while having ability to make timely and difficult decisions.
A Sr. team member is responsible for financial crimes and reputational risk assessment of high risk customers, too include peer reviews of other team members customers.
Conduct Enhanced Due Diligence, (EDD) reviews and documentation
Responsible for writing Suspicious Activity Reports,(SARs) memo's
Understanding of data elements and documents for high risk customers
Review of Products and Services for LOB and high risk customers
Proficient with high transactional analysis
Review risk assessments to determine if risk is adequately managed
Provide risk expertise for review of customer risk summaries
Assist with reporting and metrics to communicate the team's progress
Evaluate and escalate any trends or risks to senior leadership
Implement compliance and risk policies and controls for functional area
Lead and participate in any projects or initiatives, as requested
Lead and participation in ad hoc control design reviews and walkthroughs with line of business partners, working laterally and vertically with risk and business managers in the organization
Build and foster strong relationships and collaborate effectively by partnering with line of business partners to provide a risk perspective and recommendations as appropriate
Providing assistance to line of business partners for resolving issues and implementing action plans to address control deficiencies
Evaluate risk management artifacts and program compliance in alignment with Risk Management Framework
The Candidate Will demonstrate Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. It requires a team member with strong relationship management, influencing, vision and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. The role requires a sense of urgency, passion for results, and personal accountability for achievement.
Team members 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.
5+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 5+ years of financial services industry experience, of which 3+ years must include direct experience in risk management demonstrated through work or military experience
Knowledge and understanding of Financial Crimes Risk Management (FCRM)
Knowledge and understanding of Anti Money Laundering (AML) financial compliance investigations
Experience with Enhanced Due Diligence, High-Risk Attribute customer types such as money service businesses, cash intensive businesses, third party payment processors, charities or non-government organizations
Ability to document and describe complex transactions and manage due diligence
Experience writing compliance activity reports and compliance memos
Knowledge and understanding of Know Your Customer (KYC) regulations
Ability to gather, organize, and interpret data
Ability to take initiative and work independently with minimal supervision in a structured environment
Strong analytical skills with high attention to detail and accuracy
Excellent verbal, written, and interpersonal communication skills
Strong time management skills and ability to meet deadlines
Certified Anti Money Laundering Specialist (CAMS)
Other Desired Qualifications
3+ years of experience writing Suspicious Activity Reports (SARs) and/or writing Enhanced Due Diligence memos.
Regulatory and/or internal audit and examination experience, focusing on AML/Compliance audits
Military intelligence or related Law enforcement investigation experience
MN-Minneapolis: 600 S 4th St - Minneapolis, MN NC-Charlotte: 301 S Tryon St - Charlotte, NC IA-Des Moines: 800 Walnut St - Des Moines, IA
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.
Internal Number: 5552088-2
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo