Full 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
Department Overview
As the company’s second line of defense, Independent Risk Management — provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo’s risk management program and provides oversight, including challenges to and independent assessment of, the frontline’s execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.
Within Corporate Risk, the Independent Testing & Validation (IT&V) group is responsible for establishing and maintaining a consolidated testing and validation program at the corporate level. Independent Testing & Validation is responsible for developing a common methodology and standards, providing governance and oversight, executing testing, and conducting horizontal reviews. Testing and validation teams are responsible for implementing the testing methodology and standards and executing group-specific testing.
About the Role
This role supports Enterprise Testing of the Finance organization. This centralized team operates as a second line of defense to key Finance processes and major requirements. The team is an integral part of the Company’s control environment and provides credible challenge to relevant participants in the reporting processes, and has enterprise-wide exposure to lines of business, internal audit and regulatory and risk reporting stakeholders.
The testing senior associate role is accountable for developing and executing high risk or complex testing engagements aligned to key Finance functions, evaluating the adequacy and effectiveness of front line risk controls and other risk management activities in accordance with the IT&V policy and established processes and procedures, and communicating results to management. Strong operational and/or compliance based testing/auditing experience and financial services business acumen and experience will be determining factors in selection.
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 supporting internal control frameworks for financial reporting (e.g., COSO/SOX), as well as in Finance activities (Financial Planning & Analysis, Cost Allocations, Product Control), Corporate Treasury activities (Capital, Stress Testing, Interest Rate Risk, Liquidity and Funding), as well as SEC and regulatory reporting are encouraged to apply.
Market Job Description:
Responsibilities
of the Senior Associate role include, but are not limited to:
Serving in either a testing execution and/or lead capacity, participating in complex testing engagements in a matrixed environment, and communicating 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
Required Qualifications
6+ years of relevant experience in risk management (includes external/internal audit, compliance, operational risk, interest rate risk, credit risk, market risk) or 6+ years of financial services industry experience
4+ years direct experience in independent testing
Market Skills and Certifications
Desired Qualifications
Knowledge and understanding of financial services industry: compliance, risk management, or audit operations
Big four public accounting experience
Experience with COSO (or Sarbanes-Oxley, SOX) internal control testing
Strong knowledge of the COSO Framework and Risk & Control Self-Assessment (RCSA) programs
A BS/BA degree or higher in one or a combination of the following: Finance, Accounting, Analytics, or Reporting
A Master of Business Administration (MBA), Certified Public Accountant (CPA) or equivalent designation
Foundational understanding of Finance functions and related supervisory expectations for large financial institutions
Experience working within a large financial institution with exposure to risk or regulatory reporting requirements such as CCAR, Recovery and Resolution Planning (RRP), and liquidity
Excellent verbal, written, and interpersonal communication skills
Strong organization and prioritization skills
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
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. 67839