About this role:
Wells Fargo is seeking a Sr Operation Risk Specialist
This is an exciting opportunity to join a team committed to providing Wells Fargo with transformational management and oversight of operational risk. As the Operational Risk Management (ORM) group continues to build out a world-class independent risk management capability, we're seeking superior talent to join our issue management oversight function.
In this role, you will:
- Manage the development, implementation, and monitoring of a risk-based program for a business or large functional area with moderate to high risk to identify, assess and mitigate operational risk that arises from inadequate or failed internal processes, people, systems, or external events
- Maintain a balance between risk mitigation and operational efficiency
- Evaluate the adequacy and effectiveness of policies, procedures, processes, systems, and internal controls
- Analyze business and system changes to determine impact, assess operational risk issues, and assign risk ratings consistent with established policy standards
- Provide operational risk expertise and consulting to complex business units for initiatives with high risk
- Design and develop testing strategies, methodologies and analyses
- Consult with the business to develop corrective action plans and effectively manage change
- Identify training opportunities
- Design and coordinate the development of training materials and coordinate or deliver training
- Report findings and develop business cases to influence management on the need for controls to mitigate risk
- Manage and coordinate production of periodic operational risk performance reports for management, including trend research and recommended strategies
- Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals
- Issue Management Oversight (IMO) team, within the Issue Management Utility Management Organization, executes central issue management oversight activities and monitoring processes across operational risk-aligned issues such as, challenges key characteristics of issues identified by the front line; coordinates engagement and facilitates communications for issue reviews and tollgates; executes issue management activities for ORM-owned issues; provides oversight of issue remediation and monitoring for IRM & front line-owned issues and issue management processes; identifies themes and trends throughout the issue lifecycle in alignment with Issue Management Policy and Corporate Risk directives.
- A successful candidate for this role will have a strong background in Operational Risk processes including Risk & Controls, Root Cause Analysis, Correction Action Development, Risk Acceptance, Operational Risk Framework methodologies, Control Evaluations (may include internal/external audit experience), with a primary focus on providing oversight to the first line of defense's Issue Management.
Required Qualifications:
- 4+ years of Operational Risk experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualification:
- Provide oversight of the first line of defense issue management program and fulfill IRM responsibilities outlined in the Issue Management Policy including:
- Evaluating appropriateness of risk type exposure, risk level and cross line of business impact defined by the front line and challenging as needed
- Execute Issue submission and closure tollgates and challenge the frontline teams as needed.
- Executing and supporting IRM review and challenge for issue submission and/or closure tollgate to validate Root Cause Analysis, Corrective Action, and other key issue details
- Contributing to IRM challenges related to oversight of frontline issue management activities
- Actively participating in and driving the oversight of front line and IRM plans adhering to the Issue Management Policy
- Generate reports to provide comprehensive, timely and accurate issue management reporting to key stakeholders including senior management and/or risk partners:
- Support creation and publication of dashboards for issue management oversight reporting and execution
- Support development and ongoing refinement of reporting including metrics / KPIs / KRIs
- Support identification of issue management themes and trending analysis
- Engage with IMO and other risk partners for issue management reporting
- Engaging with other key partners (e.g., Legal, Compliance, Technology, etc.) as needed
- Work against the timelines to collaborate with Risk Type teams & ORBOs for effective completion of submission & closure tollgates
Added Qualifications:
- 8 - 12 years of experience in operational risk, compliance, business process management, or financial services, of which at least 4-5 years must include direct experience in operational risk
- Working knowledge in Issue Root Cause Analysis, Corrective Action Development, Risk Acceptance, and other Issue Management Activities.
Job Expactation:
- Excellent verbal, written and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Demonstrated issue management experience
- Ability to leverage multiple data sets for creation of consistent and comprehensive reporting
- Highly proactive, able to work both independently and within a collaborative team-oriented environment using sound judgment in decision-making.
Posting End Date:
*Job posting may come down early due to volume of applicants.
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, status as a protected veteran, or any other legally protected characteristic.
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.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
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