The Robert Toigo Foundation

Operational Risk Consultant 4 – Third Party Risk Oversight

Wells Fargo
September 5, 2019
Multiple, United States
Job Type


Job ID: 5508596

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk.

The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

This is an exciting opportunity to join the Third Party Risk Management Oversight Group, a function committed to providing Wells Fargo with world-class oversight of a global Third Party risk portfolio. This group continues to build out a world-class risk management capability.

The Third Party Risk Management Oversight organization is responsible for establishing the strategic direction and management of Wells Fargo’s enterprise third party risk management program.  This function will be responsible for maintaining a strong operational risk culture, formulating risk appetite and tolerances, and for establishing/maintaining a program to identify, assess, measure, monitor, control and report on third party operational risks.  Consistent with other programs overseen by Corporate Risk, this program provides independent risk management oversight (Second Line of Defense) to ensure an independent, integrated, and holistic view of Wells Fargo third-party risks.

As a team member, this position will be responsible for:

  • Monitoring and providing independent oversight of the global third party risk portfolio, including the build out of a new front line process dedicated to the end-to-end third party risk management lifecycle from sourcing through termination
  • Developing practices, processes, templates, and reporting to enable independent risk management oversight and participation in critical enterprise programs or projects with significant third party providers
  • Performing review of the work products produced across the Front Line according to the enterprise risk framework, program guidelines and build out requirements and deadlines.
  • Attending steering committees and work groups to ensure appropriate third party risk management coverage
  • Capturing, developing and where necessary escalating credible challenges
  • Analyzing issues and risks generated from enterprise sourcing and third party management programs; this includes but is not limited to aggregate risks being accumulated at an enterprise level, control weaknesses and risk evaluate proposed solutions to assure requirements are achieved
  • Reviewing mitigation/remediation plans and advise regarding mitigation effectiveness and alternative mitigation approaches
  • Producing management and operational risk reporting as applicable
  • Effectively collaborate with business partners in the first-line-of-defense (FLOD) and second line of defense (SLOD) in the establishment and maintenance of operational risk processes for the specific risk domain
  • Integrating across the Independent Risk Management team to fulfill commitments
  • Working with stakeholders to ensure each has the tools, processes and expertise to effectively manage third party risks
  • Developing and maintaining strong working relationships with the lines of business, corporate regulatory, operational risk and compliance peers

Third Party Risk Management provides critical independent risk management coverage across Wells Fargo.  Key activities include review and credible challenge of third party sourcing and management solutions, monitoring controls, oversight of risks/mitigation plans, project status reporting and operational risk domain artifacts used as part of the regulatory reporting process.

Locations: Chandler AZ; Minneapolis, MN; Des Moines IA; Charlotte, NC; San Fran, CA; other Wells Fargo locations will be considered.

Required 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

Desired Qualifications

  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to interact with all levels of an organization
  • Solid critical thinking skills
  • 3+ years of risk and regulatory compliance experience
  • 3+ years of risk management and mitigation experience
  • Knowledge and understanding of audit, regulatory compliance, or risk management
  • Knowledge and understanding of risk management, in financial services
  • Ability to operate effectively in a geographically dispersed organization
  • Ability to coordinate completion of multiple tasks and meet aggressive time frames
  • Ability to identify and manage complex issues and negotiate solutions within a geographically dispersed organization
  • Leadership skills including the ability to influence effectively in a matrix environment

Other Desired Qualifications

  • 4+ years of financial services industry experience in third party risk management
  • Comprehensive understanding of key regulatory guidance related to Third Parties, and the ability to apply that guidance to sound risk management practices. Risk management practices include risk identification, assessment, prioritization, monitoring and reporting.
  • Experience with Financial Industry regulatory agencies, and the presentation of materials within a regulatory context
  • Demonstrated ability to develop written program materials, including summary level risk reporting
  • Experience with the oversight of third parties and affiliates including outsourcing activities supporting international entities.
  • Expertise in performance, risk or contract management of third parties
  • Current or previous experience in Wells Fargo’s Corporate Risk group.
  • Demonstrated experience managing a fair, risk-based and formal risk management practice to ensure a viable application based on specified requirements.
  • Demonstrated experience ensuring regulatory and committee interactions conform to enterprise standards and legal requirements.
  • Experience with identifying and managing risk relating to suppliers’ ability to continually provide secure, efficient and effective service delivery.
  • Enterprise Risk Committee Management experience
  • Enterprise Program Management experience
  • Demonstrated experience developing practices, processes, templates, and reporting

Job Expectations

  • Ability to travel up to 15% of the time


    • All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
    • Relevant military experience is considered for veterans and transitioning service men and women.
    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

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