Corporate Risk

As the company's second line of defense, Corporate Risk — or Independent Risk Management — provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.

The Role

The Corporate and Investment Banking (CIB) Chief Risk Officer is part of Independent Risk Management (IRM) and oversees risk management of the Corporate and Investment Banking (CIB) line of business. This role coordinates Independent Risk Management activities and oversight of CIB, creating streamlined IRM interaction and a comprehensive view of all risks across Corporate and Investment Banking (CIB)This includes providing an independent and aggregate view of enterprise Corporate and Investment Banking (CIB) related risks. In addition, this position will be responsible to ensure Corporate and Investment Banking (CIB) routines, frameworks, policies, controls, and tools are properly implemented and align to the company’s Risk Management Framework.

This is a high-profile role providing regular independent reporting to risk management committees, the Board of Directors, and the regulatory agencies. This person will be responsible for effectively collaborating with key stakeholders across Wells Fargo lines of business and lines of defense to ensure risks are being managed effectively and efficiently and will have the stature and authority to credibly challenge and enforce line of business compliance to the risk management frameworks and policies. This role is responsible for maintaining a strong culture through proactive leadership, a balanced approach to risk taking and reward, strong governance and risk management programs, oversight of training, and open dialogue and transparent sharing of information with other corporate risk programs, lines of business and Corporate Groups, including internal audit.

Specific responsibilities include:

• Ensure Corporate and Investment Banking maintains risk management capabilities and processes that are effective at managing all risks arising from CIB activities.

• Manage business teams and subject matter experts with the necessary skills and abilities to oversee CIB financial risks, including investment grade and leveraged credit and market and counterparty risks from trading and activities and partner with operational and compliance risk teams to oversee non-financial risks.

• Identify and report aggregate Corporate and Investment Banking risks to line of business and enterprise governance committees.

• Apply subject matter expertise to review, interpret and challenge CIB strategies to ensure compliance requirements and risk mitigation expectations are within the firm’s risk appetite.

• Formulate independent risk management points of view as to the overall Corporate and Investment Banking (CIB) risk management capabilities and effectiveness.

• Identify and appropriately escalate Corporate and Investment Banking (CIB) risks that exceed risk appetite.

• Provide vision and set direction for frontline risk management to achieve long-term strategic objectives while operating within approved risk appetite.

• Enhance effectiveness of Independent Risk Management oversight, creating streamlined Independent Risk Management interaction and a comprehensive view of risk across businesses.

• Develop long- term business strategies to improve the effectiveness of IRM’s oversight of CIB and contribute to development and execution of CIB’s corporate strategy and review outcomes with senior management.

• Provide expertise to the Chief Risk Officer, other members of Senior Management and the board and regulators as appropriate.

• Manage allocation of people and financial resources to ensure commitments are met and align with strategic objectives in Independent Risk Management.

• Develop and guide a culture of talent development to meet long-term functional and business objectives and strategy.

As a leader, you will lead your team with integrity and create an environment where your employees feel included, valued, and supported to do work that energizes them. You will have accountability for management responsibilities which include sourcing and hiring talented employees, providing ongoing coaching and feedback, recognizing, and developing employees, identifying, and managing risks, and completing daily management tasks.

The Candidate

Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and demonstrated accomplishments. This role requires leaders with strong relationship management, influencing, vision, and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. This role requires a sense of urgency, passion for results, and personal accountability for achievement.

Required Qualifications:

• 10+ years of Risk Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.

• 5+ years of Management experience.

Desired Qualifications:

• Deep understanding of the rapidly evolving governance and regulatory environments as well as industry and risk-related best practices.

• Deep credit experience and background underwriting and approving all forms of commercial credit for distribution or balance sheet hold.

• Strong analytical, critical thinking and problem-solving skills, coupled with an ability to translate ambiguous ideas/issues into well-defined plans/solutions with a track record for delivering results.

• Effective communicator, both orally and in writing; able to ask well-crafted questions and present ideas in a clear and compelling manner; good listener who engenders creative thinking and teamwork.

• An ability to develop and articulate sound proposals to key stakeholders, and an ability to influence and drive timely decision making.

• Proven ability to cultivate relationships and collaborate with multiple stakeholders and constituencies, including business leaders, Legal, Audit and multiple U.S. and non-U.S. Regulators.

• Proven ability to build and lead high-performing teams, ensuring proper staffing and expertise, and manage the establishment of major policies and relevant compliance programs across major business divisions within a large and complex organization.

• Ethical integrity and proven ability to serve as a role model by reinforcing and demonstrating to your team members Wells Fargo’s core values and behavioral expectations.

Job Expectations:

• Foster an environment that ensures strong communication and cooperation across the three lines of defense.

• Create a culture of excellence by proactively attracting, retaining, and developing a team of talented and diverse professionals.

Pay Range

Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.

$331,700.00 - $773,900.00

Posting End Date:

4 Dec 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.

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.

Wells Fargo Recruitment and Hiring Requirements:

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.