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Senior Lead Operational Risk Officer

wellsfargo Wells Fargo

Wells Fargo is a diversified community-based financial services company with a vision to satisfy customer’s financial needs and help them succeed financially.

About this role:

Wells Fargo is seeking a Senior Lead Operational Risk Officer…

The ORBO team is responsible for aggregated business oversight and challenge of each front-line business unit within Wells Fargo. This team does targeted reviews of realized and emerging risks to identify opportunities to strengthen risk management practices related to controls. The team’s mission is to drive improvement in operational risk management effectiveness and performance through comprehensive oversight of the front line, proactive independent risk reviews, and delivery of actionable IRM analytics and intelligence that support oversight and credible challenge activities.

This Operational Risk Business Oversight Sr. Officer is responsible for the independent oversight of front line operational risk management effectiveness of the Consumer Lending business. This individual contributor is recognized as an industry or subject matter expert in operational risk. The role is expected to engage with senior business and risk leaders within the business to influence and challenge risk management activities and decisions. Operational Risk is the risk resulting from inadequate or failed internal controls and processes, people and systems, or resulting from external events. Operational Risk is inherent in all Wells Fargo products and services as it often arises in the presence of other risk types.

  • In this role, you will:
  • Provide companywide oversight and governance of an integrated operational risk program or initiative
  • Develop and drive innovative operational risk approaches and solutions companywide through an influence model
  • Identify potential business operational risks
  • Develop and drive innovative operational risk approaches and solutions companywide through an influence model
  • Constructively and independently challenge existing risk management fundamentals or assumptions and develop alternative approaches and solutions
  • Evaluate long term implications and consequences of strategic business decisions and recommend appropriate alternatives for risk management
  • Lead implementation of complex initiatives with high risk, generally spanning multiple business lines
  • Consult to the business on corrective action plans and effectively managing change
  • Influence and negotiate with executive management and business heads as high-level stakeholders both within and outside Wells Fargo
  • Lead initiatives and virtual teams across the organization to deliver companywide business risk management transformations
  • Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals
  • Lead project or virtual teams and mentor less experienced staff

Preferred locations(s) listed above. Other locations within the Wells Fargo footprint may be considered for current Wells Fargo employees.

Required Qualifications:

  • 7+ years of Operational Risk experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

  • Able to leverage quantitative data analysis to support findings and risk assessments
  • Able to communicate effectively to Sr. Leadership
  • Able to execute independent assessments and provide results in clear narrative form
  • Operational Risk Certifications
  • Experience with regulators and regulatory matters
  • Experience with Risk and Control Identification Assessments
  • Experience with Operational Risk Programs
  • Use subject matter expertise and industry knowledge to provide independent oversight and credible challenge to the Line of Business’s operational risk management activities related to the Consumer Lending Business (Home Lending, Auto Lending, Credit Cards, Merchant Services, Personal Lending and Shared Services).
  • Implementation and sustainability of the Wells Fargo Operational Risk Management framework within the Consumer Lending business including the critical elements of Risk Governance, the Risk Management Lifecycle (plan, identify and assess, control, monitor and report, and test and validate), and Risk Enablers
  • Direct engagement with the Consumer Lending team, Control Executive team, Business Heads and Independent Risk leaders to promote a strong operational risk culture
  • Active engagement in key front line governance routines inclusive of strategic planning sessions, governance committees and business reviews
  • Oversee and challenge the front line across all operational risk routines including – plan, identify and assess, control and mitigate, test and validate, monitor and report
  • Perform independent risk assessment of the front line, inclusive of emerging risks
  • Review and challenge of front line risk acceptances and new business initiatives and change management routines
  • Evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls
  • Influence appropriate risk management prioritization by the front line to enable the business to meet strategic objectives, while meeting operational risk program expectations
  • Works with the most complex business units and provides operational risk expertise and consulting for projects and initiatives with high risk, generally spanning multiple business lines.
  • Evaluate cross-program and cross-group analytics to identify opportunities and best practices to influence stronger risk management practices by the business
  • Analyzes extremely complex business and/or system changes to determine impact
  • Identifies operational risk issues and may participate in the development of risk ratings
  • Reports findings and develops business cases to influence executive management or management committee member/head of business on the need for controls to mitigate risk.
  • Direct IRM-sourced issues to front line leadership as needed
  • Provide a business-centric view to IRM Risk Programs as needed
  • Operational Risk Program Policy Interpretation and oversight execution including clear artifacts and assessments of the Consumer Lending Business
  • Successfully review and challenge business operational risk management practices and outcomes.
  • Build and sustain a strong risk culture including a balanced approach through working in cooperation and consultation with all lines of defense across the enterprise.
  • Leverage their experience to bring industry leading standards, practices, and tools to the organization.

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, or status as a protected veteran.

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.

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Senior Lead Operational Risk Officer

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Wells Fargo

Wells Fargo is a diversified community-based financial services company with a vision to satisfy customer’s financial needs and help them succeed financially.

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