About This Role
Wells Fargo is seeking a Business Accountability Specialist - Third Party Risk Primary Business Liaison in legal as part of the Third Party Risk Management team. The team's overall primary objective is identifying, evaluating, and mitigating the risks associated with the engagement of Law Firms and Non-Law Firm legal vendors, such as e-Discovery vendors. Failure to effectively assess, manage, and monitor risks related to the use of a third party may result in reputational, legal, regulatory, information security, and financial risk. For additional information on this line of business, refer to the external Careers Site at wellsfargojobs.com.
In This Role, You Will
• Analyze, evaluate, monitor, and report third party exposure, risks, and key concerns to stakeholders, including senior and executive management, the board, auditors, and regulators
• Apply expertise to the management of Third Party engagements that factor identified risks and potential issues into risk-informed business decisions
• Understand the contract terms as well as the inherent and residual risks the third party presents to Wells Fargo
• Monitor and manage the third party's performance in adherence to the OCETC and MSA, and report the output of these activities to the Business Owner, Relationship Manager, Supply Chain Management, and the Third Party Program
• Identify third party performance and compliance issues, and/or escalate the issue, per the Operational Risk and Compliance Escalation policy
• Third Party Risk Management empowers WF with the tools to adequately identify and mitigate potential risks, protecting all LOBs, customers, and third parties from unnecessary risk
• Primary Business Liaison are the primary WF contact with third party service providers, acting as the first line of defense
• Liaison between multiple LOBs and Third-Party vendors, ensuring vendors meet all internal and external regulatory requirements
• Handle multiple requests for risk assessment deliverables from Third Parties on an ongoing basis, maintaining a consistent "pulse-check" (RCQ, AB&C, TDE, FFIEC Annual Reviews, Quarterly Business Meetings, etc.)
• Coordinate efforts between the Legal Department, Third Party Management, LOB, and SMC to ensure an open line of communication between stakeholders at all levels
• Lead initiatives to mitigate current and emerging risk exposures associated with the activities and operations of the assigned business group, and identify opportunity for process improvements within the scope of defined business control responsibilities
• Review and analyze basic business challenges that require research, evaluation, and selection of alternatives
• Develop and implement risk monitoring, risk reporting processes, and controls while evaluating and reporting results where necessary
• Present recommendations for resolving complex situations and exercise independent judgment while developing Control Management functional area expertise
• Provide support in the interpretation of policy, guidelines, and governance programs as front line liaison to Independent Risk Management area
• Collaborate and consult with Control Management team and key stakeholders, including internal customers
Required Qualifications:
• 2+ years of risk management, business controls, quality assurance, business operations, compliance, or process experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
• Experience Analyzing, evaluating, monitoring, and reporting third party exposure, risks, and key concerns to stakeholders, including senior and executive management, the board, auditors, and regulators
• Experience developing and implementing risk monitoring, risk reporting processes, and controls while evaluating and reporting results
• Experience Identifying third party performance and compliance issues, and/or escalate the issue, per the Operational Risk and Compliance Escalation policy
• Strong collaboration and partnering skills
• Ability to take on a high level of responsibility, initiative, and accountability.
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
Job Expectations:
• Position will require onsite presence from any of the required locations listed below
• This position is not eligible for Visa sponsorship
• Relocation assistance is not available for this position
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.
$63,600.00 - $135,700.00
Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following b
Location: New York, NY
Posted: Aug. 15, 2024, 6:09 a.m.
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