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Business Risk & Controls Sr Associate/Financial Crimes - Risk Escalation and Advisory

at Wells Fargo

Posted: 1/16/2020
Job Reference #: 14862287

Job Description

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as "Personal Cell" or "Cellular" in the contact information of your application.

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 Control Organization (WCO) is a newly formed organization within Wholesale Banking that is responsible for supporting Wholesale lines of business with risk strategy, implementation, and execution to meet regulatory, corporate, and group risk management requirements and expectations. This group interfaces with Independent Risk Management teams (f/k/a second line of defense) and third lines of defense, as well as risk teams supporting each Wholesale business. It has five risk operations groups, a control strategy and implementation unit, and ten business control teams charged with providing consistent implementation of enterprise-risk programs across Wholesale. Through proactive coordination, WCO delivers an integrated risk strategy producing a sustainable control environment and demonstrable culture of strong risk management.

The newly established Commercial Banking Group is the largest transactional business in the Wholesale banking group. It is a newly formed group combining: (a) Middle Market Banking; (b) Business Banking Group; (c) Government & Institutional Banking; and (d) specialty customer segments. The person selected for this role will have decision making responsibility for customer risk escalations including Anti-Money Laundering (AML) /Office of Foreign Assets Control (OFAC) risk escalations, adherence to wholesale portfolio reviews, high risk customer approvals and compliance with Environment & Social Responsibility Management (ESRM) policies.

The Financial Crimes Escalation consultant is a key role for the Commercial Bank Financial Crimes Escalation team. Responsible for investigation research, analysis, and reporting of complex financial crimes transactions, policy violations and/or suspicious situations with high levels of risk to support CBG in making risk based customer decisions regarding the customer portfolio.

Primary responsibilities include:

  • Reviewing Commercial Bank client escalations pertaining to AML and Sanction Risk including performing transactional analysis, reviewing client documentation and related research
  • Documenting risk based decisions including exit recommendations and or retention decisions
  • Partnering with Enhanced Due Diligence Center and other related teams to maintain the appropriate due diligence program for Corporate High Risk Attribute customers
  • Performing Portfolio Analysis of higher risk client activity for further review and or escalation
  • Typically viewed as a subject matter expert relative to financial crimes and will be asked to support and/or advise LOBs/Stakeholders on financial crime and related risk issues
  • Additionally, this position will identify and escalate customers that demonstrate heightened risks that require special handling, including but not limited to customers who may not fall within Commercial Bank risk appetite

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.

Required Qualifications

  • 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

Desired Qualifications

  • Knowledge and understanding of Anti Money Laundering (AML) and Bank Secrecy Act (BSA)
  • Knowledge and understanding of financial crime, fraud, or risk management
  • Knowledge and understanding of financial crimes investigation
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to summarize and recommend new strategies/solutions
  • Ability to translate and summarize complex data into understandable, actionable information and recommendations
  • Ability to evaluate risks and the impact of decisions on an overall organization
  • Excellent verbal, written, and interpersonal communication skills
  • Advanced Microsoft Office (Word, Excel, and Outlook) skills

Street Address

CO-Denver: 1700 Lincoln St - Denver, CO
AZ-PHX-Central Phoenix: 100 W Washington St - Phoenix, AZ
MN-Saint Louis Park: 300 Highway 169 S - Saint Louis Park, MN
MN-Saint Louis Park: 435 Ford Rd - Saint Louis Park, MN
TX-DAL-Downtown Dallas: 1445 Ross Ave - Dallas, TX
OR-Portland: 1300 Sw 5th Ave - Portland, OR
UT-Salt Lake City: 299 S Main St - Salt Lake City, UT
GA-Atlanta: 3579 Atlanta Ave - Atlanta, GA
TX-San Antonio: 4101 Wiseman Blvd - San Antonio, TX
NC-Raleigh: 1100 Corporate Center Dr - Raleigh, 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.

Application Instructions

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