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Wealth & Investment Management Financial Crimes Regulatory & Corrective Action Program Office Manager

at Wells Fargo

Posted: 9/9/2019
Job Reference #: 13246137

Job Description

Job Description

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 7,950 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Wealth & Investment Management (WIM)

Wealth and Investment Management (WIM) businesses build enduring client relationships through sound, thoughtful and objective advice. We help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, and both individual and institutional retirement.

WIM - Financial Crimes Risk & Control   

The WIM Financial Crimes Risk & Control group, as a first line of defense control function, is responsible for a range of services in support of Wells Fargo’s WIM division, which encompasses retail brokerage, private wealth management, institutional retirement & trust and asset management lines of business.  The organization is comprised of teams that are responsible for the development, implementation, administration and execution of a broad array of controls and processes for all Bank Secrecy Act ("BSA"), USA PATRIOT Act ("USAPA"), Economic Trade Sanctions ("ETS"), Anti-Bribery & Corruption ("ABC") compliance programs. Our mission is to collaboratively partner with line of business stakeholders, independent risk management and internal audit in a well-managed fashion in order to protect WIM lines of business from being used to enable or facilitate illicit criminal and terrorist financing activities.

The Role 

The Wealth & Investment Management ("WIM") Financial Crime Risk and Control (‘FCRC’) team is seeking a Regulatory & Corrective Action Program Office Manager (Operational Risk Manager 5) to establish and lead a Regulatory and Corrective Action Program Office. The successful candidate will develop issue management protocols, processes, controls and reporting covering financial crimes matters, particularly complex, sensitive and/or high profile matters, across all WIM lines of business, and will coordinate remedial activities amongst key stakeholders within WIM and across the broader organization. This critical work will help ensure financial crimes related issues are proactively identified, managed, tracked, addressed and validated in an efficient, effective way.

The successful candidate will report to and work closely with the WIM Financial Crimes Control Leader and WIM Line of Business FCRC Managers to help minimize and proactively manage issues across the group, in support of an agile, dynamic and effective financial crimes program.

Specific responsibilities include:

  • Develop, staff, and shape a WIM FC Regulatory and Corrective Action Program Office
  • Ensure process risk exposure and/or control deficiencies are defined, documented, clearly owned and tracked through to completion in the enterprise’s issue management system
  • Collaborate with issue and corrective action owners and the WIM Financial Crimes Strategy and Governance team to ensure roles, responsibilities, ownership and accountability are all clearly understood,  root cause analysis is thoroughly completed, and corrective actions are thoughtfully defined and designed to fully address the root cause of the issue within a realistic timeframe
  • Ensure issue owners design and execute appropriate, effective, and sustainable corrective actions, which demonstrate a reduction in residual risk to acceptable levels and prevent reoccurrence
  • Oversee corrective action planning and execution to ensure the root cause or causes of the issue are effectively addressed and managed
  • Ensure corrective action deliverables are well defined and documented as a precursor to later testing and audit validation activities
  • Track issues and corrective actions to ensure issues are resolved in a timely manner and receive the appropriate level of oversight by providing status updates and reporting; evaluating progress against target completion dates; escalating issues when required; and monitoring issues, corrective actions, customer and/or account related remediation, and validation activities until the issue is closed
  • Develop and perform a risk-based internal validation approach to ensure corrective actions were completed in accordance with the approved corrective action plan, adequately resolved the issue/underlying root causes, mitigated the risk to acceptable levels, and are sustainable to prevent recurrence
  • Coordinate issue closure procedural and administrative activities once corrective actions are implemented effectively to resolve the root causes, mitigate the risk, proven to be sustainable, and are validated (if required)
  • Establish change management protocols to ensure enhancements made as part of corrective action work are routinely reflected in updated program materials, control inventories, business process mapping, and other key components of the program framework 
  • Support the line of business control Financial Crimes Program Teams in testing and assurance, audit, and regulatory driven activities as needed
  • Participate in projects designed to address issues and satisfy corrective action commitments
  • Serve as a key member of the WIM Financial Crimes Risk & Control Leadership team, helping to shape the group’s strategy, vision and priorities

The Candidate

A mature leader with proven critical thinking skills and demonstrated 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. The role requires a leader with strong relationship management, influencing, vision, operational and execution skills. The role requires a sense of urgency, passion for results, people skills and personal accountability for driving results.

Locations: Minneapolis, MN; Charlotte, NC; Des Moines, IA; Phoenix, AZ; Miami, FL; St. Louis, MO; other major Wells Fargo locations will be considered


Required Qualifications

  • 10+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 10+ years of IT systems security, business process management or financial services industry experience, of which 6+ years must include direct experience in compliance, operational risk management, or a combination of both
  • 7+ years of management experience

Desired Qualifications

  • Ability to articulate complex concepts in a clear manner
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy

Other Desired Qualifications
  • Exceptional leadership and staff development skills
  • Ability to distill complex issues into tangible and actionable resolution activities
  • Excellent written and verbal communication skills
  • Experience operating within a large, complex and diverse financial institution
  • Strong process and control design experience
  • Ability to collaborate effectively and build strong professional relationships
  • Strong, demonstrable project and program management skills
  • Ability to develop, articulate and execute against strategic objectives in a rapidly changing environment with exceptionally high standards
  • Data management and reporting expertise
  • High proficiency in all Microsoft excel applications


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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