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Lead Compliance Officer

Wells Fargo

Wells Fargo

Chennai, Tamil Nadu, India
Posted on Tuesday, June 11, 2024

About this role:

Wells Fargo is seeking a Lead Compliance Officer to assist the Compliance Director with developing, implementing and monitoring risk-based compliance programs to assure compliance with federal, state, agency, legal and regulatory requirements for Consumer Lending Compliance Shared Services. This role will be focused on Compliance Model Governance functions and will provide leadership to the India based Model Governance team. Compliance Risks in models, particularly AI/ML Models has been an area of increased regulatory scrutiny and the Compliance Model Governance function is at the crossroads of Compliance and Model Risk. Material regulation of focus would be Fair Credit Reporting Act (Reg V), Data Privacy Laws Eg. Graham Leach Bliley Act, California Consumer Privacy Act (CCPA); EU’s General Data Protection Regulation (GDPR)

In this role, you will:

  • Provide oversight and monitoring of business group Models that are consumer facing
  • Maintain compliance risk expertise and consulting for projects and initiatives with moderate to high risk, over multiple business lines, as it relates to Models
  • Establish, implement and maintain risk standards and programs to drive compliance with federal, state, agency, legal and regulatory and Corporate Policy requirements
  • Oversee the Front Line's execution and challenges appropriately on compliance related decisions
  • Develop, oversee, and provide independent credible challenge to standards with subject matter expertise
  • Provide direction to the business on developing corrective action plans and effectively managing regulatory change
  • Identify and recommend opportunities for process improvement and risk control development
  • Receive direction from leaders and exercise independent judgment while developing the knowledge to understand function, policies, procedures, and compliance requirements
  • Monitor the reporting, escalation, and timely remediation of issues, deficiencies or regulatory matters regarding compliance risk management
  • Oversee the Front Line's execution and challenges appropriately on compliance related decisions
  • Make decisions and resolve issues to meet business objectives
  • Interpret policies, procedures, and compliance requirements
  • Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
  • Work with complex business units, rules and regulations on moderate to high risk compliance matters
  • Interface with Audit, Legal, external agencies, and regulatory bodies on risk related topics
  • Required Qualifications:
  • 5+ years of Compliance experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

  • A Master's degree or higher in a finance, business, or quantitative discipline
  • 5+ years of experience interpreting regulatory requirements and corporate policy
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
  • Experience developing partnerships and collaborating with other business and functional areas
  • Knowledge and understanding of Marketing model assessment and outputs
  • Knowledge and understanding of technical documents and procedures developments
  • Reliable team player with strong personal integrity, work ethic and positive attitude
  • Strong interpersonal skills to work effectively with a wide range of business partners including: model risk governance, quantitative analysts, , risk officers, operations, technology, and other groups.
  • Excellent written skills with experience at reviewing policies/regulatory requirements and translating into applicable business requirements
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
  • Understand AI/ML Marketing Model (response and approvability) and the risks associated with its use (e.g., Compliance, regulatory, reputational, etc.)

Job Expectations:

  • Operate in a fast-paced environment, and interact daily with a broad range of business partners ranging from Corporate Model Risk, model governance, developers, and other risk staff
  • Provide subject matter expertise on model governance requirements and alignment to business priorities
  • Assess best practices for model governance and operationalize into effective business routines and priorities for working group discussions
  • Provide analysis and summarizes complex model risk priorities for senior management, including committees governing Marketing risk and model risk
  • Have a deep knowledge of regulatory guidance and firm policies. Must be able to interpret them and provide guidance to business partners
  • Provide management expertise and leadership to ensure plans are in place and progress is being made in resolution of model issues
  • Identify efficiency opportunities for reporting and tracking progress to business priorities and issue resolution
  • Develop, maintain, and provide oversight of marketing model risk activities
  • Develop or approve highly complex models or decisioning framework that evaluate risk or generate revenue

Posting End Date:

*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.

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