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Third Party Risk Management - Senior Business Execution Consultant

Wells Fargo

Wells Fargo

Hyderabad, Telangana, India
Posted on Monday, June 10, 2024

About the Role:

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.

Corporate and Investment Banking Infrastructure Services has an exciting opportunity for a Primary Business Liaison/LOB Relationship Manager. The role will provide governance and oversight for Corporate & Investment Banking Third Party Risk Team within CIB Infrastructure Services. The Third-Party Risk Management Program is situated in the first line of defense. The Team is responsible for managing all risk-based third-party management program activity 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. The team member will work with the Corporate and Investment Banking lines of business to provide third party risk management expertise and consultation on all aspects of third-party risk. The candidate will manage, analyze, and deliver third party risk performance reports for senior management, including trend analysis and recommended engagement strategies.

  • Serve as Primary Business Liaison/LOB Relationship Manager supporting specific CIB LOBs and/or specific service categories. This includes all inherent risk levels.
  • Establish framework for line of business to follow when engaging any third party to support the execution of strategy.
  • Provide guidance and consultation on all third-party responsibilities to various business partners.
  • Reports findings and develops business cases to influence senior management on the need for controls to mitigate risk.
  • Conduct regularly scheduled meetings with business partner to communicate Third Party Service Provider Program requirements and procedures, share best practices.
  • Review Oversight & Monitoring and KRI reports and follow-up with stakeholders regarding open, past due or over threshold/trigger items.
  • Escalate third party incidents or related loss events to senior risk leaders.
  • Document Risk Remediation/Acknowledgement and coordinate approval process.
  • Respond to audit, regulatory and IRM oversight reviews as appropriate.
  • Coordinate activities across lines of business to ensure TPRM program requirements are met, and best practices are followed. These activities include but are not limited to supplier reviews, regular performance reviews, setting performance metrics, coordinating risk acknowledgement and handling issue escalation, remediating corrective actions, monitoring supplier viability and ongoing program compliance, documenting business process risks.
  • Oversees third party risk management life cycle activities and identifies new risks as business requirements evolve.

A successful candidate will possess the following:

  • Strong organizational, multi-tasking, and prioritizing skills.
  • Ability to take initiative and work independently with minimal supervision in a structured environment.
  • Ability to influence change.
  • Proven experience working on cross-organizational initiatives.
  • Proven skills working within a dynamic, matrixed environment.
  • Ensure issues are resolved properly and in a timely manner.

Required Qualifications:

  • 8 to 11 years of experience in Risk and Compliance Management, Third Party Risk Management, financial services, Operational Risk & Controls, reporting and analysis.
  • Good knowledge on 3rd Party Risk Management and Vendor onboarding process.

Desired Qualifications:

  • Operational Risk & Controls experience
  • Excellent verbal, written and interpersonal communication skills.
  • Solid problem solving and decision-making skills.
  • Proficient in Microsoft Outlook and Excel.
  • Understand and ensure compliance and risk management policies.
  • Provide support for compliance and risk management requirements.
  • Work with the Onshore quality assurance team to ensure closure of month-end all the open/assigned volumes are reviewed and corrected.
  • Monitor and evaluate larger and more complex business, operational, and customer support initiatives and overall effectiveness of team performance
  • Document quality issues and performance measures for management review
  • Work closely with both internal stakeholders and users to meet their service needs
  • Ability to meet deadlines.
  • Demonstrates a high degree of reliability, integrity, and trustworthiness.

Shift Time: 6.30PM to 3.30AM

Posting End Date:

19 Jun 2024

*Job posting may come down early due to volume of applicants.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

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.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Candidates applying to job openings posted in Canada: 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.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.