Legal Entity Business Risk & Controls Senior Associate Legal Entity Business Risk & Controls Senior  …

Wells Fargo
in Hong Kong
Permanent, Full time
Last application, 22 Nov 20
Competitive
Wells Fargo
in Hong Kong
Permanent, Full time
Last application, 22 Nov 20
Competitive
Posted by:
Joveo Posting • Recruiter
Posted by:
Joveo Posting
Recruiter
The Business Risk and Controls Senior Associate will report to the APAC Regional Business Control team within the International Control organization. The Business Risk and Control team is responsible for identifying, measuring, assessing, controlling, mitigating, monitoring, and reporting current and emerging risk exposures associated with APAC activities.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. 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.

Market Job Description

Department Overview

The Business Control

organization serves as the front line risk management organization of Wells Fargo supporting the CIB and other businesses with risk strategy, implementation, and execution. 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 CIB. Business Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across the lines of business.
 

About the Role

The Business Risk and Controls Senior Associate will report to the APAC Regional Business Control team within the International Control organization. The Business Risk and Control team is responsible for identifying, measuring, assessing, controlling, mitigating, monitoring, and reporting current and emerging risk exposures associated with APAC activities.

This position will be accountable for the front line control responsibilities related to 3 broker dealer legal entities in APAC (Hong Kong, Singapore and Japan). This position will responsible for design and implement control activities within the legal entities. The Business Risk and Controls Senior Associate will also work with designated lines of business (LOBs) and Enterprise Function (EF) control team members to design and implement the required risk and controls and help identify, escalate and proactively manage risks in these 3 broker dealer legal entities. This position will also partner with Independent Risk Management (IRM) and the Integrated Business Process Risk and Control team to ensure proper alignment with program requirements.
 

Responsibilities

  • Performs and manages Front Line Responsibilities for the 3 broker dealer legal entities in APAC as follows:
  • Responsible for ensuring controls related to governance and regulatory requirements of the legal entities for properly executed, which include but not limit to board governance, registration, outsourcing activities and various type of regulatory reporting and questionnaires.
  • Identifies and documents risks, designs and implements control activities associated with business processes within the 3 broker dealer entities in Asia. Assists with control design and implementation related to Markets business in the region.
  • Responsible for analyzing any regulatory change impacts, and designing and implementing controls associated with the changes.
  • Responsible for coordinating any audit or regulatory reviews.
  • Executes Legal Entity Risk and Control Self-Assessments (RCSA) to satisfy Enterprise and Regulatory requirements. Remediates RCSA quality assurance and IRM credible challenge findings.
  • Collaborates with LOB Business Control, International Compliance, International Operational Risk and COO related to program requirements.
  • Serves as liaison between IRM and management of the legal entities, and provides support in the interpretation of policy, guidelines, and governance programs.
  • Develops and implements risk monitoring and risk reporting processes that align with company-wide risk programs. Monitors and reports on its risk concentration, current and emerging risk, and risk appetite. Aggregates the results of its monitoring efforts (as part of its self-assurance activities reporting routines), evaluates findings, reports on results and escalates where necessary.

 

Market Skills and Certifications

Requirements

7+ years of experience in risk (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, business process management) or 7+ years financial services industry experience, of which 5+ years must include direct experience in risk.

Desired Qualifications

  • Proven experience designing, developing, implementing and maintaining effective risk management programs, especially risk controls, within a large complex financial services company.
  • Knowledge of Asia broker dealer as well as global banking regulatory/supervisory frameworks.
  • Experience with Business Control Assurance, either from 1LOD/2LOD testing or internal audit.
  • Experience with Risk and Control Self Assessments (RCSA)
  • Ability to manage and/or collaborate with geographically dispersed teams, matrixed relationships and interact with all levels of an organization
  • Must be a proactive self-starter who values personal accountability and thrives under pressure in a fast-paced and demanding environment.
  • Ability to analyze data and make connections across various data sets to make recommendations to management and project teams in a timely manner.
  • Ability to leverage creative thinking and problem solving skills to facilitate decisions and to ensure project outcomes result in expected business value.
  • Ability to exercise independent judgment to identify and resolve problems
  • Ability to articulate complex concepts in a clear manner
  • Ability to escalate issues
  • Ability to meet stringent deadlines
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skill
  • Solid conflict management and decision making skills
  • Strong analytical skills with high attention to detail and accuracy

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.

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. 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. 

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