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Governance and Controls Senior Associate

Wells Fargo | Toronto ON M9N2Y9 CAN | Full Time | Posted: 02/14/2020

Job Descriptiontop

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading global financial services company with $2.0 trillion in assets and offices in over 37 countries. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides asset management, capital raising and advisory, financing, foreign exchange, payments, risk management, and trade finance services to support customers who conduct business in the global economy. At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We also value the viewpoints of our team members and encourage them to be their best. 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. Learn more at our International Careers website.

Wholesale Banking

Wholesale Banking, led by Perry Pelos, provides financial solutions to businesses across the United States and globally, with annual sales generally in excess of $5 million. It has seven major business lines, including: Commercial 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 Control (WC)The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution. The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale.



Market Job Description

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The Governance and Controls Senior Associate based in Toronto will report to the International Control Governance and Programs Leader. The purpose of the international business risk and control team is to identify, assess and mitigate risks across regulatory risks. We achieve this by coordinating with businesses operating internationally, while adhering to global and regional policies established by Independent Risk Management (IRM).


This position will be accountable for the front line control responsibilities to support regulatory risks within a country or sub-region. It will execute programs in cooperation with the line of businesses and Enterprise Functions in the region. This position will partner with Independent Risk Management (IRM) for definition of requirements and Wholesale Control for alignment of the control function program. The Governance and Controls Senior Associate is to be the expert on regulatory matters impacting the assigned country/sub-region, including regulatory requirements for the legal entities operating in the country/region.

This team member must be capable of initiating action and managing change in a fast paced environment under regulatory scrutiny and heightened expectations. It requires a team member with strong relationship management, stakeholder management, influencing, vision, and execution skills. You are the ‘go-to’ person for regulatory related matters in your assigned area and will be responsible for ensuring coordination and communication between the local and global teams.

Key responsibilities:

  • Partner across the Regional Control Organization and key stakeholders to manage complex regulatory risk activities within the assigned country/sub-region, including coordination of requests with multiple regions/lines of business and functions

  • Triage and manage regulatory changes, including sponsoring a view of regulatory changes impacting a single country or region

  • Ensure compliance to regulatory requirements consistent with the risk management framework and policies established by IRM

  • Comfortable preparing and communicating with internal business leadership

  • Control Design for local regulations within the region/sub-region/country.

  • Comprehensive life-cycle issue remediation management within the region

  • Defining and ensuring execution and maintenance of risk tolerance statements, KPIs, monitoring, reporting and escalation to ensure visibility to/ownership of operating quality and regulatory compliance gaps and issues within the regional and regulatory control organizations

  • Partner to help manage Audit, IRM and Regulator engagements to ensure a consistent engagement model and effective ownership and remediation of issues within the region/sub-region/country

  • Lead or assist in regulatory risk related projects as needed

  • Review New Business Initiatives for a single country/region

  • Analyze results of self-assurance, Testing & Validation, Issues Management, Audits and Exams to identify control improvement opportunities within a country/region

  • Review submissions for local regulatory exams within the region

Market Skills and Certifications

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Minimum requirements:

  • 5+ years of experience in compliance, risk management (includes audit, legal, operational risk, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), regulatory examiner, or a combination of these.
  • Meaningful knowledge of relevant financial regulations and understanding of how they are implemented, managed and enforced

Preferred skills:

  • Ability to articulate complex concepts in a clear manner
  • Strong analytical skills with high attention to detail and accuracy
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skill
  • Ability to escalate issues
  • Ability to exercise independent judgment to identify and resolve problems
  • Knowledge and understanding of risk management
  • Solid conflict management and decision making skills
  • Ability to operate in a global organization with stakeholders in multiple regions

We Value Diversity

oQ.ClassName != 'jobdescriptionInJobDetails'" ng-class="oQ.ClassName" j-query="html(oQ.AnswerValue)" class="answer ng-scope section2LeftfieldsInJobDetails jobDetailTextArea">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.

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.

Job Detailstop

Location Toronto, ON, M9N2Y9, Canada
Categories Quality Assurance/Safety

Location Maptop

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Job Code 45716BR
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