About this role:
Wells Fargo is seeking a Business Accountability Specialist - Third Party Risk Primary Business Liaison in legal as part of the Third Party Risk Management team. The team's overall primary objective is identifying, evaluating, and mitigating the risks associated with the engagement of Law Firms and Non-Law Firm legal vendors, such as e-Discovery vendors. Failure to effectively assess, manage, and monitor risks related to the use of a third party may result in reputational, legal, regulatory, information security, and financial risk. For additional information on this line of business, refer to the external Careers Site at wellsfargojobs.com.
In this role, you will:
· Analyze, evaluate, monitor, and report third party exposure, risks, and key concerns to stakeholders, including senior and executive management, the board, auditors, and regulators
· Apply expertise to the management of Third Party engagements that factor identified risks and potential issues into risk-informed business decisions
· Understand the contract terms as well as the inherent and residual risks the third party presents to Wells Fargo
· Monitor and manage the third party’s performance in adherence to the OCETC and MSA, and report the output of these activities to the Business Owner, Relationship Manager, Supply Chain Management, and the Third Party Program
· Identify third party performance and compliance issues, and/or escalate the issue, per the Operational Risk and Compliance Escalation policy
· Third Party Risk Management empowers WF with the tools to adequately identify and mitigate potential risks, protecting all LOBs, customers, and third parties from unnecessary risk
· Primary Business Liaison are the primary WF contact with third party service providers, acting as the first line of defense
· Liaison between multiple LOBs and Third-Party vendors, ensuring vendors meet all internal and external regulatory requirements
· Handle multiple requests for risk assessment deliverables from Third Parties on an ongoing basis, maintaining a consistent “pulse-check” (RCQ, AB&C, TDE, FFIEC Annual Reviews, Quarterly Business Meetings, etc.)
· Coordinate efforts between the Legal Department, Third Party Management, LOB, and SMC to ensure an open line of communication between stakeholders at all levels
· Lead initiatives to mitigate current and emerging risk exposures associated with the activities and operations of the assigned business group, and identify opportunity for process improvements within the scope of defined business control responsibilities
· Review and analyze basic business challenges that require research, evaluation, and selection of alternatives
· Develop and implement risk monitoring, risk reporting processes, and controls while evaluating and reporting results where necessary
· Present recommendations for resolving complex situations and exercise independent judgment while developing Control Management functional area expertise
· Provide support in the interpretation of policy, guidelines, and governance programs as front line liaison to Independent Risk Management area
· Collaborate and consult with Control Management team and key stakeholders, including internal customers
Required Qualifications, US:
- 2+ years of risk management, business controls, quality assurance, business operations, compliance, or process experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Experience Analyzing, evaluating, monitoring, and reporting third party exposure, risks, and key concerns to stakeholders, including senior and executive management, the board, auditors, and regulators
Experience developing and implementing risk monitoring, risk reporting processes, and controls while evaluating and reporting results
Experience Identifying third party performance and compliance issues, and/or escalate the issue, per the Operational Risk and Compliance Escalation policy
Strong collaboration and partnering 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.
- Position will require onsite presence from any of the required locations listed below
- This position is not eligible for Visa sponsorship
- Relocation assistance is not available for this position.
Pay Range$63,600.00 - $135,700.00
Wells Fargo provides all eligible full- and part-time employees with a comprehensive set of benefits designed to protect their physical and financial health and to help them make the most of their financial future. Visit Benefits - Wells Fargo Careers for an overview of the following benefit plans and programs offered to employees.
- 401(k) Plan
- Paid Time Off
- Parental Leave
- Critical Caregiving Leave
- Discounts and Savings
- Health Benefits
- Commuter Benefits
- Tuition Reimbursement
- Scholarships for dependent children
- Adoption Reimbursement
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, status as a protected veteran, or any other legally protected characteristic.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.