Director of Fiduciary Risk Oversight

6 days ago

New York, New York, United States Wells Fargo Full time
About this Role

We are seeking a highly skilled Director of Fiduciary Risk Oversight to join our team at Wells Fargo. As a key member of our Operational Risk Management group, you will be responsible for overseeing and enhancing the execution of our fiduciary risk coverage program.

Key Responsibilities
  • Direct and manage fiduciary resources to ensure proactive risk identification, effective challenge, and timely escalation of key risks to senior leaders and governance forums.
  • Develop, manage, and ensure implementation of fiduciary risk policies, methodologies, and procedures.
  • Conduct independent risk assessments of Wells Fargo's fiduciary-related businesses.
  • Participate in new business initiatives for new products or exit of products related to fiduciary risk.
  • Aggregate and monitor the enterprise fiduciary risk profile for applicable business activities.
  • Execute projects related to fiduciary risk, oversight, and governance.
  • Ensure consistent, timely, and relevant management reporting of fiduciary risks.
  • Participate in and provide input to applicable Corporate Risk and business group committees.
  • Maintain collaboration and alignment with Operational Risk Coverage Programs, Operational Risk, WIM Risk, and other enterprise programs.
  • Provide input into and enforce risk appetite thresholds.
  • Implement appropriate risk measures to oversee and escalate fiduciary risks.
  • Work directly with regulatory stakeholders on topics specific to fiduciary risk.
  • Execute ad hoc risk-related initiatives as needed.
  • Escalate fiduciary risks to the Head of Fiduciary & Investment Risk, Senior Management, and the Board, as appropriate.
  • Create a culture of excellence by proactively attracting, retaining, and developing a team of talented and diverse fiduciary risk professionals to support the execution of the FIRO program.
  • Foster an environment that ensures strong relationships, communication, and cooperation across the three lines of defense, including Corporate Risk leadership, business line leadership, Legal, Audit, regulators, and other corporate stakeholders.
  • Uphold the Wells Fargo Vision & Values.
Requirements
  • 8+ years of Operational Risk 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
  • 10+ years of experience in fiduciary-related financial services (includes trust services and trust operations, wealth management, fiduciary officer, compliance, operational risk, audit, legal, and regulatory) or 10+ years of financial services industry experience, of which a significant portion of those years must include direct experience in fiduciary risk management.
  • 7+ years of management experience in fiduciary-related businesses or risk management.
  • Ability to influence across all organizational levels, particularly senior management.
  • Strong risk management and compliance skills.
  • Ability to identify gaps through risk-based testing.
  • Advanced knowledge and understanding of fiduciary law and related federal regulations.
  • Advanced knowledge and understanding of fiduciary-related products and services, applicable regulatory framework, and emerging risk issues.
  • Knowledge and understanding of fiduciary, investment, or financial planning disciplines.
  • Knowledge and understanding of fiduciary law and federal regulations.
  • Knowledge and understanding of fiduciary, investment, or planning disciplines.
  • Knowledge and understanding of investment risk and compliance management processes.
  • Knowledge and understanding of trust, fiduciary law, and federal regulations/operations.
  • Knowledge and understanding of Employee Retirement Income Security (ERISA) policy.
  • Experience in federal securities laws, primarily the Investment Advisers Act, Investment Company Act, or 40 Act.
  • Knowledge and understanding of investment advisory.
  • Ability to communicate effectively, in both written and verbal formats, with senior executive-level leaders.
  • Experience in executing or managing targeted risk reviews, development, and evaluation of risk measures, policies, and internal controls.
  • A master's degree or higher.
  • CFP, CFIRS, or related certifications.
Job Expectations
  • Ability to travel up to 20% of the time.
  • Ability to work at one of the approved locations in the job posting.
  • This position offers a hybrid work schedule.
  • This position is not eligible for Visa sponsorship.

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