Testing Risk Senior Associate - Regulatory Reporting and Risk Management

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

About Wells Fargo India

Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.

Department Overview

The Independent Testing & Validation team is responsible for the development and design of methodologies and standards for review activities across the Enterprise in alignment with the Risk Management Framework and ensuring effective and appropriate testing, validation, and documentation of review activities for risk programs, risks, and controls according to standards and other applicable policies.

About the Role

This role is in the Regulatory Reporting Incremental Compliance (RRIC) team within Independent Testing & Validation (IT&V). RRIC is a centralized team, operates as a second line of defense over the regulatory and risk report production processes subject to BCBS 239 requirements. The team is an integral part of the Company’s control environment and provides credible challenge to relevant participants in the reporting processes. RRIC has enterprise-wide exposure to lines of business, regulatory and risk reporting stakeholders as well as the external financial reporting and regulatory reporting infrastructures and frequently coordinates with internal audit.

Responsibilities

• May lead moderate to high risk or complex testing engagements in a matrixed environment, and communicates emerging risks to management
• Leading and supporting efforts to effectively challenge risks in the end-to-end reporting processes and evaluate controls designed to mitigate those risks
• Partnering with business partners to understand the environment and related initiatives to develop appropriate and complementary testing procedures
• Executing substantive outcome-based testing of regulatory and risk reports with limited supervision
• Documenting test results and timely escalation of exceptions identified
• Proactively communicating issues to stakeholders including ownership, while providing recommendations to management
• Developing clear and concise reporting to be shared with IT&V management and Front Line Units
  The successful candidate will be a team player and a self-starter who is accustomed to working in complex organizations, partnering with a diverse group of stakeholders, and achieving results. Candidates with experience in preparing or reviewing regulatory returns including capital adequacy, liquidity coverage, recovery planning etc. are encouraged to apply.

Essential Qualifications

• 6+ years of relevant experience in regulatory reporting and risk management (includes compliance, financial crimes, operational risk, internal audit, legal, credit risk, market risk, business process management) or 6+ years of financial services industry experience
• 4+ years direct experience in regulatory reporting and testing

Market Skills and Certifications

Desired Qualifications

• Knowledge and understanding of financial services industry: compliance, risk management, or audit operations
• A BS/BA degree or higher in one or a combination of the following: Finance, Accounting, Analytics, or Reporting
• Big four public accounting experience
• A Master of Business Administration (MBA) or a Certified Public Accountant (CPA) designation
• Knowledge and understanding of regulatory reporting e.g. Central Bank of Ireland, Federal Reserve, Financial Conduct Authority, OCC, SEC etc.
• Knowledge and understanding of regulatory compliance requirements surrounding SOX Sarbanes-Oxley Act
• Ability to take on a high level of responsibility, initiative, and accountability
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
• Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
• Specialized knowledge or prior regulatory compliance testing or review experience
• Experience reviewing testing strategies and methodologies; evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls; and identifying issues resulting from internal and/or external compliance examinations
• Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint)
• Ability to present results of analyses and recommendations to senior leaders or executives

OTHER DESIRED QUALIFICATIONS:

• Experience supporting Regulatory Exams (Domestic and Int’l), Audits, or other regulatory reporting related assessments
• Strong critical thinking skills with ability to credibly challenge status quo
• Demonstrated success with influencing business units to identify, formulate and implement processes/procedures to mitigate risk
• Demonstrated negotiation skills, especially with difficult topics when partnering with lines of business and technology. This includes the willingness and ability to question decisions, understand direction and escalate issues, where necessary

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. 63190