EMEA Regulatory Risk Officer and Deputy MLRO

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 20 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

EMEA Compliance at Wells Fargo consists of Markets, Private Side, Country, Asset Management and Central Compliance Teams which provide Compliance support to all lines of business in the Europe, Middle East and Africa (EMEA) Region. The Central Compliance Team provides shared services (including Regulatory development, training & competence, compliance testing,) throughout the region across all Lines of Business, legal entities and branches.
This role is to support the Wells Fargo Bank International UC (WFBI) Frankfurt Branch (WFBI FB) Money Laundering Reporting Officer (MLRO) and assist with the management of Financial Crime Risks, Compliance Risks and Operational Risk within Wells Fargo Bank International UC, Niederlassung Frankfurt on a day to day basis.
(Note: In addition to these functions employees are required to carry out such other duties as may reasonably be required)
Reporting Lines:
This role reports to the Compliance Manager Germany and MLRO, with a dotted line reporting to the Branch Manager of Wells Fargo Bank International UC, Niederlassung Frankfurt. As Deputy MLRO, this role will report to local management via the branch management committee on behalf of the branch’s MLRO if necessary.

Responsibilities:

• Fulfill duties as Deputy MLRO for the branch in the absence of the Branch’s MLRO.
• Assist the MLRO in contributing to WFBI and EMEA-wide procedures to meet legal and regulatory money laundering obligations within Germany, Ireland and the EU.
• Conduct horizon scanning on applicable regulatory matters (primarily related to Financial Crime) in conjunction with EMEA Central Compliance.
• Identification of relevant financial crime risks within the Wells Fargo’s compliance risk management system.
• Advising the MLRO as well as senior management of the branch on Financial Crime-related regulatory developments as well as its impact on the branch’s process and control framework and escalate to WFBI and local senior management
• Provide cross-border regulatory advisory support within the EMEA region on Financial Crime matters of relevance to the branch.
• Liaise with various support departments including Compliance, Operations and Legal as necessary regarding AML/CTF and other regulatory requirements for WFBI and WF FCRM.
• Conduct monitoring activities of the branch with a focus on Financial Crime.
• Assignment of risks to relevant stakeholders, who will be responsible for conducting an evaluation and establishing requisite controls to manage risk as part of the overall Financial Crime Program.
• Independent decision marking regarding the assessment of Suspicious Activities Reports to the German Financial Intelligence Unit (FIU).
• Independent processing and submission of Suspicious Activity Reports (SARs) to the German FIU.
• Processing of information requests by the prosecutor’s office and the German FIU.
• Monitor Sanctions screening and other requirements of WFBI.
• Proactively support 1^st Line of Defense functions on issues regarding Compliance Risk and Data Privacy in line with the WFBI Compliance Mandate in order to mitigate regulatory risks (also on-site at Wells Fargo Düsseldorf office).
• Conduct trainings to German team members on Compliance Risk, Financial Crime and Data Privacy, both reflecting regulatory requirements as well as business needs.
• Provide SME assistance on projects involving WFBI and EMEA FCRM.
• Establishing and maintaining appropriate follow-up, escalation and management reporting processes.
• Development and review of Risk Assessments.
• Assist with preparations for internal and external regulatory exams/audits as well as their follow-up.
• In coordination with the WFBI FB MLRO, provide constant coverage of the MLRO function to assure the Branch’s availability to respond to AML-related enquiries from the regulatory authorities and the German FIU in a timely manner

Market Skills and Certifications

Skills/Experience Required:

• Strong knowledge of German AML/CFT legislation alongside the supporting guidelines and industry best practice.
• AML-related qualification e.g. ACAMS an advantage.
• Additional experience and knowledge of regulatory requirements within EU/EEA an advantage.
• Strong ability in spoken and written English a requirement.
• Track record of collaboration and leadership.
• Experience in process design and management a requirement.
• Expert analytical skills with experience in collecting, analyzing, and synthesizing information on various subjects.
• Demonstrated ability to identify key issues, and obtain appropriate information for further analysis.
• Proven track record of working collaboratively across multiple business lines and with stakeholders and colleagues at all levels but also of taking the lead as needs dictate. An ability to motivate team members for common progress is essential.
• Strong attention to detail essential.
• Experience of providing guidance and assistant/training to team members.
• Excellent interpersonal, communication (written and presentation) skills and organizational abilities are essential with an ability to liaise professionally and with diplomacy across all levels of staff in clear and succinct manner.
• Demonstrated experience, working in a high pressure environment, working to tight deadlines displaying efficiency and effectiveness on a daily basis.
• Strong ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast-paced deadline driven environment.
• Candidate should be IT literate - including Microsoft Project, Excel, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
• The ability to work unsupervised, the willingness to work extra hours when required to do so and with a demonstrated ability to drive through regulatory and other change.
• Reliability and conscientiousness are as important as knowledge in this role.
  Central Bank of Ireland’s Fitness and Probity Regime
  This position is designated as a Controlled Function 2 (CF-2) role under Part 3 of the Central Bank Reform Act 2010 (sections 20 and 22) and as such is subject to the Central Bank of Ireland’s Fitness and Probity Regime. Individuals who perform a CF role must have a level of fitness and probity appropriate to the performance of that particular function and must comply with WFBI’s Fitness and Probity policy.
  A team member who performs a CF-2 role ensures, controls or monitors compliance by WFBI with our relevant obligations.
  

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.