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Operational Risk Consultant 3 - Tax Regulatory Control

Company: Wells Fargo
Location: Parkville
Posted on: June 15, 2019

Job Description:

Job Description
At Wells Fargo, we want to satisfy our customers financial needs and help them succeed financially. We re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you ll feel valued and inspired to contribute your unique skills and experience.Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.Wholesale Banking provides financial solutions to businesses across the United States and globally, with annual sales generally in excess of $5 million. It has nine major business lines, including: Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and Principal Investments. It also has groups in credit risk, operational risk and compliance, finance, marketing, human relations, and the Wholesale Chief Operating Office supporting its businesses.The Wholesale Control (WC) organization serves as the front line risk management organization within the Wholesale Banking group of Wells Fargo supporting the Wholesale businesses with risk strategy, implementation, and execution. The Wholesale Control team is accountable to assess and effectively manage risks across all risk types and Wholesale businesses delivering an integrated view of risks, producing a sustainable control environment, and instilling a culture of strong risk management. The team is responsible to identify and assess risks, design and implement controls, and execute and monitor the controls to ensure they are working effectively to manage risk across Wholesale. Wholesale Control interfaces with Independent Risk Management and Audit to drive comprehensive and consistent implementation of regulatory and corporate risk policies and programs across Wholesale. This position is within the Wholesale Tax Control Group, which supports Wholesale Businesses in meeting IRS regulatory compliance requirements related to Customer Tax Information Reporting. Essential responsibilities include, but are not limited to the following:

  • Ensure the Tax Risk positions taken by the Wholesale Businesses are thoroughly and contemporaneously documented, preparing research memos, reports, talking points, FAQs, etc.
  • Responsible for assisting with existing Wholesale Tax Risk Mitigation Programs, and developing, implementing and monitoring initiatives to identify, assess and minimize any tax related operational risk that arises from inadequate internal processes, systems or external events, while maintaining a balance between tax risk mitigation and operational efficiency.
  • Bring a demonstrated knowledge of a control environment: testing, developing and implementing controls.
  • Work with complex Wholesale businesses, and provide risk expertise and consulting services for high-risk projects and initiatives. May work closely with the Wholesale Tax Operations team, and other groups within the Wholesale Tax Control team. May consult with businesses to develop CA plans and effectively manage change. Report findings and develop business cases to influence executive management and/or committee members and/or head of businesses on the need for controls to mitigate risk.
  • Hands-on experience with the creation of Major Requirements (MRs) and Controls, and familiarity with the SHRP system.Individual Responsibilities
    • Act as a liaison between wholesale businesses, Wholesale Tax, Corporate Tax and other teams
    • Assist with the collection and analysis of tax, governance and risk documentation
    • Coordinate committees and other meetings and tax forums, prepare meeting materials (e.g., agendas/meeting minutes/presentations) and ensure proper documentation of discussions and conclusions.
    • Assist in writing processes and procedures around and developing metrics (e.g., KPIs, KRIs, etc.) reports and dashboards
    • Tracking of work efforts for status and completion
    • Assist in the design and implementation of risk mitigating controls and metrics.Team members 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.

      Required Qualifications
      • 2+ years of experience in compliance, operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk), or a combination of both
      • 2+ years of experience in one or a combination of the following: additional compliance, additional operational risk management, IT systems security, business process management or financial services industry experience; or a BS/BA degree or higher in business or a related field

        Desired Qualifications
        • Intermediate Microsoft Office skills
        • Excellent verbal, written, and interpersonal communication skills
        • Strong analytical skills with high attention to detail and accuracy
        • Ability to interact with all levels of an organization

          Other Desired Qualifications
          • Research, analyze and/or update information (i.e. MRs, Controls, Issues, CAs) in SHRP to support various work efforts
          • Support BPM/BPRM (risk and control identification) efforts
          • Ability to Assist with processes and procedures around the development of metrics reports and dashboards (i.e., KPIs, KRIs)
          • Experience Executing projects and initiatives as needed, working with management and Wholesale business partners
          • Ability to manage various meetings, forums and communications in support of the Wholesale Tax Program and partnerships


            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.
            Associated topics: analyst, business finance, consult, financial analytic, government, inspect, market, monitor, refine, strategy

Keywords: Wells Fargo, Baltimore , Operational Risk Consultant 3 - Tax Regulatory Control, Other , Parkville, Maryland

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