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Audit Manager - VP

  • Governance & Controls
  • Full time
  • R-378404

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.

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

Internal Audit conducts audits and reports the results of our work to the Audit & Examinations Committee of the Board of Directors. We provide independent, objective assurance and consulting services delivered through a highly competent and diverse team. As a business partner, Audit helps the Company accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal Audit is separated into individual audit teams specializing in a line of business, risk type or coverage area.

Wells Fargo Internal Audit has a challenging opportunity in Financial Crimes Audit Team for Model Risk Validation. We are looking for an individual with quantitative education and experience to provide audit coverage of analytical models used at the company. This individual will be a subject matter expert supporting the daily operations and the audit coverage approach with the team.
 

About this Role:

This position provides a unique opportunity to gain a broad understanding of the risk management of models across the company, in areas such as operational risk, financial crimes, etc (experience of model validation in other areas like market risk, trading products, credit risk, counterparty risk, treasury, PPNR, home lending, and wealth & investment management, will also be considered positively). The individual will play an instrumental role in the audit of the models used to meet the regulatory requirements of Financial Crimes compliance / Banking Secrecy Act (BSA) / Anti Money Laundering (AML) / Sanctions / Anti Bribery and Corruption (ABC).

In this role, you will:

Responsibilities for this role include, but are not limited, to the following:

  • Providing credible challenge of modeling practices in the company, including performing replication analyses with data mining and coding.
  • Executing technical audit reviews of models, including model development quality, validation effectiveness, and model risk governance processes (especially models in Financial Crimes Compliance / Financial Crimes Risk management function).
  • Providing support on technical model questions, model risk policy, and regulatory requirements to Wells Fargo Internal Audit staff, and business partners.
  • Producing quality deliverables and communicating testing findings and conclusions verbally and in writing to key stakeholders.
  • Building and maintaining relationships with model stakeholders.
  • Developing an understanding of model risk regulatory requirements, supervisory guidance, model risk policy and current industry practices in an area of expertise.
  • Developing an understanding of Wells Fargo audit methodology and policy.
  • Developing business knowledge of focus modeling areas.
  • Work effectively independently and within a team.
  • Championing opportunities and recommendations for process improvement.
  • Developing business knowledge of focus modeling areas.
  • Training, mentoring, and providing direction to junior team members and supporting their development.
  • Work effectively independently and within a team.
  • Championing opportunities and recommendations for process Improvement.

Required Qualifications:

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

Desired Qualifications:

  • A IIT or PhD in statistics, mathematics, physics, engineering, computer science, economics, or quantitative field; or a Master’s degree in the above areas with 4-8 years of experience in one or a combination of the mentioned fields above.
  • 4-8 years of experience in model development, model validation in the financial services industry, preferably with a large bank
  • At least 2 years of Auditing (model risk auditing) in the financial services industry, preferably with a large bank
  • Working knowledge of SR 11-7 and OCC 2011-12 supervisory guidance
  • Strong work and professional ethics
  • Strong interpersonal skills, and demonstrated persuasion, negotiation and influencing skills
  • Strong technical, non-technical, and executive verbal and written communication skills
  • Having knowledge of AML / Sanctions tools (like Actimize, Fircosoft, GSMOS, etc) will be an added advantage
  • Hands-on knowledge and experience with one or more technical tools such as Python, C/C++/C#, SQL, R, Python, MATLAB, SPlus, Gauss, or SAS

Job Expectations:

Ability to travel up to 10% of the time

Locations: Bangalore/Hyderabad

Posting End Date: 

*Job posting may come down early due to volume of applicants.

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.

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.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

Drug and Alcohol Policy

 

Wells Fargo maintains a drug free workplace.  Please see our Drug and Alcohol Policy to learn more.


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