Risk Management ConsultantApply now Job ID 43107BR
Market Job Description
Wholesale BankingWholesale Banking provides financial solutions to businesses across the United States and globally, with annual sales generally in excess of $5 million. It has nine major business lines, including: Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and Principal Investments. It also has groups in credit risk, operational risk and compliance, finance, marketing, human relations, and the Wholesale Chief Operating Office supporting its businesses.
Wholesale Banking develops long-term relationships with customers. Our strategic priorities are:
- Simplify operational model
- Drive growth
- Deploy verticals
- Leverage relationship management
- Balance risk and reward
Wholesale Banking serves businesses with annual sales generally in excess of $5 million.
Wholesale Products & Services
- Agricultural lending
- Asset-based lending
- Asset management
- Benefits consulting
- Capital finance
- Commercial mortgage servicing
- Commercial real estate
- Corporate trust
- Correspondent banking
- Environmental finance and clean tech lending
- Equipment leasing and financing
- Equity research
- Financial institutions services (U.S. and international)
- Foreign exchange
- International banking and trade services
- Investment banking and capital markets
- Shareowner services
Wholesale Control Organizations (WCO)The Wholesale Control Organization is a newly formed organization within Wholesale Banking that is responsible for supporting Wholesale lines of business with risk strategy, implementation, and execution to meet regulatory, corporate, and group risk management requirements and expectations. This group interfaces with Independent Risk Management teams (f/k/a second line of defense) and third lines of defense, as well as risk teams supporting each Wholesale business. It has five risk operations groups, a control strategy and implementation unit, and ten business control teams charged with providing consistent implementation of enterprise-risk programs across Wholesale. Through proactive coordination, WCO delivers an integrated risk strategy producing a sustainable control environment and demonstrable culture of strong risk management.
Financial Institutions Group (FIG): Financial Institutions Group is one of nine major lines with Wholesale Banking. It is a specialized coverage team responsible for national relationships with financial services providers. Relationships span across a broad range of industries, including: Insurance, Securities brokerage, Asset Management, Exchanges, Payment Processing, Financial Technology, Title and Escrow, Consumer and commercial. This open position sits within one of the business control teams focused on supporting the Financial Institutions Group (FIG) within Wholesale Banking.
The RoleThe Risk Management Consultant is a critical position within the Global Customer Risk Team, supporting the FIG business' ability to understand its customer base and make sound risk decisions. The position is based in Hong Kong or Singapore and will report to the Regional Risk Officer. This position will be working closely with relationship managers, risk managers, and customers of South East Asia. The Risk Management Consultant may call on financial institution customers with the relationship teams in the region; and ensure appropriate compliance issues are discussed, documented, and managed. He/she will act as a point of contact for inquiries from other functional teams in FIG Control Group and Financial Crimes Risk Management Department; and ensure that all enquiries are responded to appropriately in a timely manner.
Market Skills and Certifications
The CandidateCandidates should support our focus on building deep customer relationships balanced with a strong risk mitigating and compliance driven culture. They are accountable for execution of all applicable risk programs, 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. Responsibilities include:
- Ensuring the business is collecting and documenting customer due diligence and enhanced due diligence according to corporate policy and FIG procedure.
- Ensuring the complete, accurate, and timely documentation of customer data within the customer risk management system.
- Stay attuned to industry and regional trends related to compliance issues, financial crimes, and sanctions; and proactively identify risk issues and work with senior relationship managers/risk managers to develop, document, and implement appropriate action plans.
- Responsible for the risk evaluation and decision of customer information, negative news, and complex financial activity.
- Responsible for providing detailed risk analysis of the FIG customer portfolio.
- Minimum 5 years work experience in financial industry and/or compliance risk management, with a minimum of 3 years’ experience in Anti-Money Laundering.
- Strong English communication, both verbal and written.
- Exposure to and understanding of Malaysia, Singapore or Thailand markets will be an advantage.
- Ability to work and improvise independently.
- Ability to develop strong relationships and work in a complex and rapidly changing environment.
- Experienced user of Microsoft Office and Web based applications.
- Bachelor degree or above
- Compliance related certifications (CAMS, CRCM, etc.)
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.