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Financial Crimes AML Testing, AVP

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Location: Toronto, Canada Job ID R-154715

About this role:

Wells Fargo is seeking a AVP, Financial Crimes AML Testing, internally known as a Senior Independent Testing Specialist within the Independent Testing & Validation (IT&V) group which is part of the Corporate Risk division.

The Independent Testing and Validation (IT&V) group is responsible for establishing and maintaining a consolidated Enterprise Testing program at the corporate level. Independent Testing and 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 Enterprise Testing methodology, standards, and executing group- specific testing.

In this role, you will:

  • Work to provide AML/ATF testing and risk expertise with regulatory requirements covering such areas as, but not limited to; AML Program, Suspicious Transaction Reporting (STR), Customer Due Diligence (CDD), Politically Exposed Persons (PEPs), Sanctions Screening, Enhanced Due Diligence (EDD), etc.

  • Develop and design of testing strategies and methodologies in accordance with legislative accepted requirement specific to AML/ATF compliance, policies, procedures, and internal controls

  • Execute detailed test script procedures, sampling strategies, research and obtain supporting documentation relating to the work performed and document the results of the analysis process

  • Lead review activity engagements ensuring AML/ATF compliance and control testing is proficiently and efficiently performed, accurately interpret results against distinct criteria’s

  • Apply expert intelligence to test and assess potential AML/ATF compliance and operational risk exposures

  • Evaluate the adequacy and effectiveness of AML/AFT compliance requirements, policies, procedures, processes, and internal controls

  • Formulate comprehensive coverage of test conclusions to ensure control adherence to AML/ATF compliance requirements

  • Prepare report findings, providing sensible recommendations, proposing areas for improvement, and presenting to business line stakeholders and regional management

  • Lead and conduct validation testing and follow-up of Issues/Corrective Actions to monitor and assess management’s implementation of recommendations

  • Ensure assigned AML/ATF activity review engagements that are part of the Annual Testing Plan are delivered timely

  • Provide AML/ATF testing expertise in the identification of risks, assessing of controls and reporting on effectiveness of controls to ensure compliance with federal, provincial, agency, legal, regulatory, policy and procedure requirements

  • Develop a sound understanding of line of business, local, Canadian, US and any other accepted regulatory legislative expectations

  • Lead or participate in moderate to high risk or complex review activities in a matrixed environment and communicate emerging risks to management within Independent Testing

  • Contribute to large scale planning related to Independent Testing deliverables

  • Review and research moderately complex potential corrective actions, and follow through on reporting, escalation, and resolution

  • Ensure effective and appropriate testing, validation, and documentation of review activities for risk programs and controls according to standards and other applicable policies

  • Resolve complex issues and lead team to meet Independent Testing deliverables while leveraging solid understanding of risk management framework and the risk and control environment

  • Collaborate and consult with colleagues, internal partners, management, and lines of business regarding risk management.

Required Qualifications:

  • 4+ years of Independent Testing and Issue validation services, relevant business experience and/or financial services industry experiences or equivalent demonstrated through one or a combination of the following: work experience, training, education.

Desired Qualifications:

  • Demonstrated understanding of AML/ATF compliance and/or risk management, policies, and procedures

  • Strong working knowledge of audit principles including sampling methods

  • Excellent oral, written, and interpersonal communication skills

  • Ability to meet timeline deliverables in a consistent manner

  • Sound and continued knowledge of the RCSA process across different lines of business and the Corporation

  • Ability to multi-task between multiple and ongoing responsibilities and assignments

  • Proven ability in exercising independent judgment and applying prudent risk mitigation principles

  • Exhibits flexibility and adaptability

  • Collaborative team player with solid business relationship building attributes

  • Audit and Financial Crimes related certifications (CIA, CAMS, etc.)

Job Expectations:

  • As a Senior Independent Testing Specialist of the IT&V team, you will be lead tester responsible for executing AML/AFT testing engagements that are part of the annual plan and undertake issue validation work efforts.

  • You will perform independent testing and monitoring activities across an assortment of business lines, legal entities, and other related functions within the responsibility of the Americas region.

  • Expectations of this job include leading assigned review engagements through the planning, execution and reporting of testing and validation activities directed to the International annual testing plan.

  • Furthermore, the position is responsible for the timely delivery and meeting quality standards of assigned engagements within the annual plan. This includes, but is not limited to, creating scoping, test scripts, establishing business process walkthroughs, and driving effective communication with all key stakeholders.

  • Expectation is that testing execution is properly staffed and executed, and findings are identified and properly dispositioned. Issues must be defined and communicated to the proper business owner and all key stakeholders.

  • Reporting of the testing results must be shared with all key stakeholders and contain accurate information. All final documentation must be clear, concise and in accordance w/ quality standards.

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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