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AVP & Senior Financial Crimes Compliance Testing Consultant

Job ID 26212BR Location Toronto, Canada;
Wells Fargo provides middle market, large corporate and financial institution customers with a range of financing solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates in 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Tokyo, and Toronto.

Wells Fargo first conducted business in Canada in 1854 and since then has continued to build a strong presence across the country. Wells Fargo now offers a broad range of financial products and services through multiple lines of business operating throughout Canada.

The International Testing & Validation (T&V) function covering both the Canada and Latin America regions has an immediate opening for a Financial Crimes Compliance Consultant that will provide second line of defense T&V services concentrated on anti-money laundering (AML)/anti-terrorism funding (ATF), control testing risks. The T&V function provides AML/ATF compliance oversight through the execution of standardized testing. Designed to provide independent assurance that risk programs and controls are operating effectively across the AML/ATF, key risk type.

As a Financial Crimes Compliance Consultant of the T&V team, you will be lead tester responsible for executing AML/AFT testing engagements that are part of the annual plan and also undertake issue validation work efforts. The Team Member will perform independent testing and monitoring activities across an assortment of business lines, legal entities and other related functions within the responsibility of the regions.

Specific duties for this position include, but are not limited to:

Key responsibilities:
  • Working 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.
  • Development 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
  • As lead, 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
  • Develops a sound understanding of line of business, local, Canadian, US and any other accepted regulatory legislative expectations

Market Skills and Certifications

Minimum qualifications:

  • 6+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both; or 6+ years of IT systems security, business process management or financial services industry experience, of which 3+ years must include direct experience in compliance, operational risk management, or a combination of both

Preferred skills:
  • 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 Compliance Risk Assessment process across different lines of business and the Corporation
  • Experience with compliance and operational risk systems such as GRC tools
  • 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 business relationship building attributes
  • Audit and Financial Crimes related certifications (CIA, CAMS, etc.)
  • Ability to travel approximately 10 – 20%

Wells Fargo team members 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.  As a Wells Fargo team member, you 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.

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, colour, gender, gender identity, sexual orientation, national or ethnic origin, age, disability, religion or any other status protected by applicable legislation, 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.