Regulatory Relations Lead

Job Description

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Market Job Description

About the Role

This is a newly created position within APAC Regulatory Relations, which is part of the International Regulatory Relations organisation. The role will be responsible for establishing effective and productive regulatory relations with mainland Chinese financial regulators covering regulatory exams and requests and related response management, material changes to regulations, supervisory meetings, regulatory notifications by businesses in mainland China, regulatory approvals and licenses for mainland China legal entity activities, and regulatory submissions. The role will also support the APAC Regulatory Relations Lead in discharging the team’s responsibilities across the APAC region, including assisting in coordinating with other Regulatory Relations Leads in APAC and other regions, to ensure consistent delivery of regulatory relations communication, reporting and escalation. This role will be the Regulatory Relations lead for businesses in PRC and ensure compliance with Wells Fargo’s policies, procedures, and protocols for regulatory relations. This role will work cross functionally with multiple support partners.

Responsibilities

• Partner with leadership team to establish and execute regulatory engagement strategy for the legal entities in PRC
• Ensure execution of processes and requirements governed by Wells Fargo Regulatory Relations protocols
• Implement APAC / International procedures covering regulatory exams and inquiries, response management, regulators’ communications on changes in regulations and industry issues, regulatory response management, supervisory meetings, notifications, regulatory approvals and licenses, annual submissions, safeguarding of supervisory information, records management, and reporting. These include serving as a main pint of contact and liaison with mainland Chinese regulators, supporting management’s meeting with regulators, and preparing management information, and reporting to senior stakeholders both locally and internationally.
• Manage relationships and foster a team orientation with corporate, business heads, control organization, internal risk management, legal, technology and audit; represent the business(es) in the external community, including with senior mainland Chinese regulators
• Promote and maintain a risk culture that encourages an informed, measured, disciplined and balanced approach to understanding and managing business process risk
  

Market Skills and Certifications

Requirements

• More than 10 years’ experience in risk management, legal, compliance, operational risk management, business process management or financial services industry experience, including direct experience in compliance, operational risk management, or a combination of both.
• Strong interpersonal skills with demonstrable experience in building and maintaining strong and credible relationships with key stakeholder groups including Business Leaders, Independent Risk Management and Regulators.
• Ability to communicate effectively in English and Chinese (verbally and in writing), create a vision, influence strategically and achieve buy-in from stakeholders at all levels in order to successfully execute business initiatives.
• Ability to understand and operate successfully in a complex, heavily matrixed corporate environment.
• Achievement driven with a passion for results, taking personal accountability for delivering on objectives.
• Strong analytical skills to build compelling, strategic recommendations.
• Excellent organizational and time management skills with the ability to process multiple tasks simultaneously and plan, prioritize and set goals.
• Ability to articulate complex concepts in a clear manner.
• Strong attention to detail and accuracy.
• Regulatory or regulatory engagement experience in China will be a plus.

Desired Qualifications:

• Degree and higher level qualification e.g. MBA or equivalent.
• Strong knowledge of mainland China financial services industry, products, financial services laws and regulations, and regulatory environment
• Working knowledge of international including US regulatory landscape
• Experience in embedding risk management practices in the financial services industry, including development, implementation and sustainment of approach.

We Value Diversity

At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.
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.