Due Diligence Sr Associate

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message.  In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application. 

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

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

Commercial Banking provides financial solutions to businesses with annual sales generally in excess of $5 million. Our business lines are Wells Fargo Commercial Capital, Middle Market Banking, and Treasury Management & Payment Solutions.

Wells Fargo Commercial Capital

• A market-leading provider of working capital, investment capital, trust services, and sales financing solutions that help customers optimize liquidity and grow their business through their lifecycle

Middle Market Banking

• Services private and public companies with annual sales of $5 million to $2 billion
• Specialized expertise across industry sectors

Treasury Management & Payment Solutions

• Provides cash management services and digital channel capabilities for customers of Commercial Banking and Corporate & Investment Banking 
• Also serves some Consumer and Small Business Banking and Wealth and Investment Management customers, and Auto Dealer Finance partner relationships in Consumer Lending

Wholesale Financial Crimes Risk Control (WFCRC) is responsible for the coordination, oversight and ultimate execution of Wholesale Banking’s commitments to key internal and external stakeholders as it relates to the management of financial crimes risk with the Wholesale Bank. In addition to having responsibility for Wholesale Banking’s execution of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program, WFCRC is also responsible for the remediation of the OCC BSA/AML Consent Order. This team will partner with line of business (“LOB”), operations, risk and compliance team members, Wholesale Control Executive Office, Enterprise Financial Crimes Risk Management, Wells Fargo Audit Services, and Testing & Validation to advocate and ensure alignment in scope, purpose, expectations and execution of the Wholesale Financial Crimes Program. The team will achieve this through a focus on strong communication, strategic planning, thoughtful and meaningful tracking/reporting, and timely escalation and change management.

The team will interact with Wholesale Control Executive leaders, subject matter experts from Wholesale business lines, and team members from Independent Risk Management and Wells Fargo Audit Services, among others. The team is geographically disbursed and this Due Diligence Associate will be responsible for contributing to all Screening initiatives.  The incumbent will also be responsible for risk identification and escalation.

In general, a Due Diligence Sr. Associate is responsible for developing, implementing and monitoring a risk-based program to identify, assess and mitigate any operational risk that arises from inadequate or failed internal processes, people, systems or external events, while maintaining a balance between risk mitigation and operational efficiency. May provide oversight to an operational risk program. Works with assigned business units and provides operational risk expertise and consulting for projects and initiatives with moderate to high risk. May provide senior-level support for systems security-related issues. Develops testing strategies and methodologies; evaluates the adequacy and effectiveness of policies, procedures, processes, systems and internal controls; analyzes business and/or systems changes to determine impact; identifies and assesses operational risk issues and assigns risk ratings consistent with established policy standards. Consults with business to develop corrective action plans and effectively manage change. Identifies training opportunities; may design/coordinate the development of training materials and delivers training. Reports findings and drafts recommendations to mitigate risk to operational risk and business line management. Coordinates production of periodic operational risk performance reports for senior management, including trend analysis and recommended strategies. May manage project teams and provide guidance to less experience specialists/consultants.

Individual Responsibilities:

• Providing the leadership necessary to develop a diverse team that is inclusive and has the ability to drive change in a complex regulatory and operational environment is critically important.
• Primary point of contact for the team; support and manage functions on behalf of managers; presenting process walkthroughs on behalf of managers via calls; training new hires and existing employees, work directly with the offshore employees; managing ongoing line of business process and procedure documents, etc.
• Assist / support Wholesale businesses by answering queries related to Ongoing Screening in a timely, accurate, and complete manner.
• Establish relationships / work closely with partners in Risk and Compliance, Financial Crimes, Legal, Analytics, and AML Compliance to keep abreast of regulatory guidance and rulings, enforcement actions and penalties, as well as maintaining an understanding of current events and international affairs; 
• When needed, escalate requests for further documentation to the Line of Business (LOB) to ensure compliance with internal policies.
• Must have the ability to dissect complex organizational structures to complete due diligence.
• Analyze potentially unusual activity, which will require the review of historical activity along with customer information. 
• Responsible for assisting with the implementation and monitoring of a risk-based compliance program to assure compliance with federal, state, agency, legal and regulatory requirements.
• Analyze risks on escalated, referred, or alerted negative news. Communicate negative findings to lines of business and supply guidance on course of action.

Tasks require coordination of information among various operational areas and customer bases using multiple online systems. 
A successful candidate will have in-depth knowledge of regulatory requirements, corporate policies, and knowledge of all supported lines of business. 

Employees 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. 

• 5+ years of risk management experience in one or a combination of the following: risk management, client service, operations support, or business process management demonstrated through work or military; or 5+ years of financial services industry experience, of which 3+ years must include direct experience in risk management

• Working knowledge of BSA/AML programs including KYC, CDD, EDD, CIP and / or other related risk and regulatory disciplines
• Certified Anti Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), Certified Regulatory Compliance Manager (CRCM) designation
• Operates independently with minimal supervision, and effectively manages work requests to meet performance expectations
• Ability to dissect complex organizational structures to complete due diligence
• Ability to handle confidential material in a professional manner
• Ability to articulate complex concepts in a clear manner
• Ability to prioritize tasks, achieve goals, and work under pressure in a dynamic and complex environment
• Ability to collaborate with geographically dispersed teams and matrixed relationships
• Ability to navigate through ambiguity and maintain momentum driving for results and clarity in uncertain situations
• Must be a proactive self-starter who values personal accountability and thrives under pressure in a fast-paced and demanding environment

NC-Charlotte: 301 S Tryon St - Charlotte, NC
NC-Charlotte: 8505 Ibm Drive - Charlotte, NC

• 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.

Benefits
 

Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.