EMEA Compliance Testing Consultant

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Wells Fargo
  • 18 Feb 19

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.

Market Job Description

Main function of the job:
The EMEA Testing & Validation Team (‘Testing Team’) sits within the EMEA Central Compliance team and assesses the adequacy and effectiveness of controls relating to regulatory risks. The EMEA Compliance Testing Consultant (‘the Consultant’) will perform testing & validation activities in accordance with the annual EMEA Testing Plan and Enterprise Testing & Validation methodologies. The role will report to the Testing Team Leader.

Conduct Compliance Testing & Validation Reviews (90% of activity) 
In accordance with the annual Testing Plan, the Consultant will undertake testing activities across multiple entities and lines of business as directed by Testing Team Management. The consultant will be required to execute reviews in line with Enterprise Testing methodology standards. This includes:

  • Plan the reviews assigned and perform the relevant testing activities within the review scope, testing the  control design and effectiveness (in accordance with relevant Wells Fargo testing and sampling methodologies as appropriate);
  • Identify and raise gaps, issues and recommendations for control weaknesses identified during review activities and agree associated action plans (e.g. a change to systems, controls, governance structures, policies or procedures) with the relevant management;
  • Compile testing reports to formally communicate any issues raised during review activities. These will undergo a rigorous internal review process;
  • Ensure that all review steps are documented within the appropriate working papers and electronic records are updated in line with Enterprise Testing quality standards;
  • Perform issue validation activities to ensure that previously identified issues were completed in line with the agreed action plans and mitigates the regulatory risk to the bank;
  • Keep all stakeholders appraised of review progress through regular communications to ensure a ‘no-surprise’ approach on review outputs and potential issues;
  • Build understanding and trust with team members across the bank, including key stakeholders within relevant lines of business and control functions such as Compliance, Audit and Operational Risk;
  • Be available to travel within EMEA for specific reviews (normally around 10/20% of the time).

Miscellaneous (10%)

  • Attend relevant International and EMEA conference calls, meetings and committees in order to discuss various Enterprise Testing & Validation and EMEA Central Compliance matters.
  • Work collaboratively with Compliance colleagues throughout EMEA to make recommendations for change to Policies, Projects, Training and or Testing Plans as appropriate.
  • Undertaking relevant regulatory and corporate training as required / directed to maintain competence.
  • From time to time, provide assistance to other team members within the Testing Team, such as performing peer reviews of testing outputs.

Market Skills and Certifications

Skills/Experience Required:

  • Compliance testing or other related experience gained within an internal audit or other relevant risk function.
  • Working knowledge of the UK and/or EMEA regulatory environment and how FCA, PRA and regulatory requirements apply to wholesale banking lines of business.
  • Degree educated desirable.
  • Interpersonal communication (written and presentation) skills are essential.
  • Organizational, prioritization and time-management skills.
  • Track record of working collaboratively across multiple business lines is required
  • Flexibility / Initiative – ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast paced deadline driven environment.
  • Analytical with experience in collecting and analyzing information on various subjects.
  • PC Skills including Microsoft Excel, Access, Word, PowerPoint and other reporting tools.

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.