International Control Strategy & Transformation Consultant
Wells Fargo Bank
July 27, 2019
Wholesale Control (WC) The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution. The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale.
The Role International Control Strategy & Transformation consultant position reports to the Regional Business Control leader within the Wholesale Control organization. The purpose of the International Control team is to identify, assess and mitigate risks across Financial Crimes, Regulatory and Operational Risk types, in coordination with the supported International businesses and assurance activities consistent with the risk management framework and policies established by Independent Risk Management (IRM).
The purpose of control strategy and transformation is to drive efficient and effective strategic planning, development, implementation, transformation, and operational excellence in the performance of Wholesale Control programs and capabilities. This position will be accountable for developing and leading a team of stakeholders to strategically plan, design, develop, implement, and transform risk and control processes and capabilities across the International Control program. The position will be accountable for the planning and delivery of a comprehensive portfolio of initiatives that will transform the risk and control capabilities supporting the International Control program. This position will maintain relationships across the various Wholesale, PVSI and Wealth & Investment Management (WIM) Control (e.g. Governance, Enterprise Risk, Compliance, Operational Risk, and Financial Crimes) programs to ensure effective end-to-end integration of risk management initiatives across risk types and business control programs across International. This candidate will maintain a holistic view of risk management strategies and change initiatives across International and ensure that all changes are implemented in alignment with Wells Fargo risk management policies and program requirements. This candidate will work cross functionally with multiple stakeholders and support partners globally. The team member will drive implementation of Wells Fargo's Corporate and business specific policies and procedures in a holistic, consistent and practical manner.
The Candidate The ideal candidate possesses a unique skill set and combination of expertise/experience in international financial services, risk management, operational risk controls, regulatory remediation, strategic innovation, and large scale transformation experience. The successful candidate will work closely with other senior leaders across Wholesale, as well as WIM and PVSI, in the development and execution of company risk management strategies. This team member must be capable of initiating action and managing change in a fast paced environment under regulatory scrutiny and heightened expectations. 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 while having ability to make timely and difficult decisions. Successful candidate will have ability to distill complex concepts into simplified/targeted solutions, communicate those concepts effectively and ensure that all deliverables are met. They will use both experience and analysis to identify business problems and build compelling fact-based strategic recommendations. They will also have a demonstrated ability to build and maintain strong credible relationships with key stakeholder groups including Business Leaders, Independent Risk Management and Regulators.
Partner closely with appropriate stakeholders within the Wholesale, PVSI and WIM Control organizations as well as other key stakeholder, to plan, define, and execute on International Control strategic projects that corresponds to the international business strategy and integrates with the International Control Strategic Plan for strengthening and transforming risk management across Wholesale.
Identify, design, and implement strategies to drive more effective and efficient execution of front line risk management within the international regions ensuring effective coordination with other business groups operating within the international regions.
Design and implement controls to address outstanding issues within the international regions, including issues identified by Wells Fargo Audit Services and Regulators, as well as changing regulatory requirements within the industry ensuring the implementation of effective, sustainable solutions
Ensure an adequate design of the implementation plan, proper tracking of execution on the plan, and prompt escalation of execution risks and issues
Accountable for the successful validation, audit, and regulatory inspection of the International Control implementation of risk management program requirements in alignment with Corporate Risk and Regulatory requirements.
Leads engagement of stakeholders across Wholesale, PVSI and WIM as well as other supporting organizations in the execution of the International Control transformation program.
Manage relationships and foster a team orientation with corporate, business heads, legal, audit and multiple US and non-US regulators.
Promote and maintain a risk culture that encourages an informed, measured, disciplined and balanced approach to understanding and managing business process risk and controls
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 5+ years must include direct experience in compliance, operational risk management, or a combination of both.
Proficient knowledge and experience in International Financial Services and regulatory agencies.
Extensive experience leading the development and implementation of risk management programs and associated controls, especially operational risk, compliance, financial crimes, or enterprise risk programs, as well as integration across risk programs is critical.
Proven experience designing, developing, implementing and maintaining effective risk management programs, especially risk controls, within a large complex financial services company. Preferred experience in operationalizing controls within business operating units.
Extensive experience leading operational transformation and organizational change implementing sustainable, effective, and efficient operating models and processes.
Experience driving forward looking strategic plans and full lifecycle transformation leadership from idea inception to implementation to adoption into business as usual operations.
Ability to identify and transform existing programs that may be ineffective or deficient from a technological, operational and/or human capital perspective.
Experience in process reengineering and innovation to transform programs building new capabilities and significantly improving existing programs to deliver cost effective and operationally efficient programs.
Experience in strategic planning, operating model design, operational process engineering, operating procedures development, training and educational programs driving performance of resources, and enabling processes with technology and data enablement solutions.
Strong experience and business acumen in the financial services industry, products, and regulatory environment.
Previous experience executing regulatory remediation and corrective actions and interacting with regulators.
Proven leadership ability to develop teams, lead virtual teams, and drive successful execution of change initiatives.
Ability to articulate complex concepts in a clear manner.
Ability to influence and consult strategically across a large organization and with various levels of leadership/stakeholders.
Excellent organizational and time management skills with the ability to process multiple tasks simultaneously.
Proven ability to build dynamic and high performing teams.
Working knowledge of Wholesale Banking.
Excellent verbal, written, and interpersonal communication skills.
Strong analytical skills with high attention to detail and accuracy.
Process improvement methodology experience (e.g. Six Sigma).