• Job Description

  Req#: R-392913

  About this role:

  Wells Fargo is seeking a Head of Enhanced Due Diligence for Financial Crimes Operations. Enhanced Due Diligence (EDD) is a critical piece of compliance and is focused on higher-risk customers/clients and those requiring specialized processes. This role is responsible for managing the function globally, defining a long-term strategy, and building a high-performing team to execute it. Learn more about the career areas and business divisions at wellsfargojobs.com .

  The Head of Enhanced Due Diligence (EDD) will contribute to the wider Financial Crimes Operations (FCO) management team strategy to establish the correct long-term process, controls, and technology as part of our target operating model for Know your Customer (KYC) processes. The focus will be on building and delivering an effective and efficient process at scale while maintaining or improving key controls and meeting agreed service-level agreements with each of the five lines of business supporting.

  This role is also known as a Business Execution Director.

  
  In this role, you will:

  • Develop a strategic operating model for the function including team scope and requirements for investments in tools, services, and key controls
  • Design new processes to deliver on the revision of the firmwide AML/BSA policies and socialize with financial crime risk management (FCRM); work jointly with FCRM to negotiate any required enhancements or agree on interpretations necessary
  • Identify strategic barriers to changes required by the strategy and work to remove them or minimize their impact
  • Validate continuously the strategy and interim milestones with key partners in controls, risk, finance, technology, and others and adjust where needed to achieve goals with minimal impact
  • Build and drive a scalable process, correct controls that allows the team to meet line of business service level agreements and all Regulatory requirements, and ensures a high quality, minimal errors and re-work
  • Communicate with line of business stakeholders and Chief Operating Office leadership on performance, strategic improvements, issues, risks, and dependencies
  • Review team performance continuously and consistently, control effectiveness, and other key process indicators (KPIs) to identify potential areas of Risk or performance gaps and proactively reduce the likelihood of issues
  • Manage and develop multiple business functional areas with focus on implementing and delivering long-term strategies, policies, and process advancements for cross-functional stakeholders, and internal and external partners associated with the area of Business Execution or who are affected by its outcomes
  • Identify Business Execution opportunities and strategies for process improvement and risk control development over the long-term to ensure operational excellence and process efficiency
  • Lead Business Execution team for assigned initiatives ensuring solutions are designed, integrated, and controlled to improve effectiveness, limit risk exposure, and create efficiencies as appropriate
  • Interpret and develop a range of policies and procedures for long-range and fundamental retooling of perspective, approach, culture, quality, relationships, operations, and capabilities
  • Collaborate and influence functional management to obtain resources, influence outcomes, address conflict, and ensure alignment with Wells Fargo strategies or policies and business line objectives
  • Manage allocation of people and financial resources for Business Execution
  • Develop and guide a culture of talent development to meet business objectives and strategy

  Required Qualifications:

  • 8+ years of Business Execution, Implementation, or Strategic Planning experience, including Management experience, or equivalent experience demonstrated through one or a combination of the following: work experience, training, military experience, education
  • 4+ years of management experience

  Desired Qualifications:

  • 8+ years of management and strategic planning experience in a large financial services organization (250+ reports)
  • 5+ years of Financial Crimes experience with AML/BSA regulations
  • Experience managing managers
  • Experience building and leading teams across multiple locations, including planning and executing a multi-year team strategy
  • Customer Service Remediations experience
  • Experience working with Second Line of Defense (LOD) Risk organizations and front lines of business to improve the risk management function related to customer onboarding activities
  • Effective relationship management and the ability to influence and create an environment that fosters collaboration and credible challenge across multiple levels of the organization
  • Exceptional track record of driving organizational change, developing innovative solutions, and delivering results
  • Ability to translate complex technical concepts so that they are clearly understood in support of sound decisions
  • Strong communication skills, both verbal and written; effective in communication across variety of audiences and constituencies, including executive management
  • Superb collaboration skills across multiple levels and functions with demonstrated success through decision making and in gaining alignment
  • Ability to balance multiple projects simultaneously

  Job Expectations:

  • Ability to travel up to 10% of the time.
  • This position offers a hybrid work schedule.
  • This position is not eligible for a Visa Sponsorship.

  Locations:

  • 8505 IBM Dr, Charlotte, North Carolina 28262
  • 4959 Excelsior Blvd, Minneapolis, Minnesota 55416
  • Preferred location(s) listed above. Other locations within the Wells Fargo Financial Crimes Shared Services Operations footprint may be considered.

  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.

  $144,400.00 - $300,000.00

  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 benefit plans and programs offered to employees.

  • Health benefits
  • 401(k) Plan
  • Paid time off
  • Disability benefits
  • Life insurance, critical illness insurance, and accident insurance
  • Parental leave
  • Critical caregiving leave
  • Discounts and savings
  • Commuter benefits
  • Tuition reimbursement
  • Scholarships for dependent children
  • Adoption reimbursement

  Posting End Date:

  31 Aug 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.

• About the company

  Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco.

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