Finance Risk Management (FRM)

The Finance Risk Management (FRM) group within Corporate Risk oversees frontline risk activities of the Finance organization. Enterprise Finance’s activities are critical to the financial risk management of the Company, including, but not limited to, setting and managing the capital and liquidity positions, executing CCAR, managing interest rate risk, balance sheet management, financial forecasting, line of business capital allocations, funds transfer pricing, and financial and regulatory reporting among others. Additionally, Enterprise Finance encompasses operational, compliance and reputational risk across the various activities. The team is responsible for enhanced effectiveness of IRM oversight, creating streamlined IRM interaction with Enterprise Finance and a comprehensive view of risks across the Finance organization. The FRM team is led by the Finance Chief Risk Officer, reporting directly to the Company’s Chief Risk Officer. The group regularly produces reporting for presentation to senior management, management-level committees, the Board of Directors and Regulators.

About this role:

This position will report directly to the Finance Chief Risk Officer (Finance CRO) and serve on FRM’s leadership team to provide advice and strategic direction to help lead the broader FRM group.  The role is expected to leverage experience and knowledge of financial risk management. 

The Head of Risk Weighted Asset (RWA) Oversight is accountable for overseeing the strategic management and optimization of RWA across the bank, while ensuring regulatory compliance and alignment with the capital strategy.  This Executive will lead a critical oversight function which ensures accurate calculations, sufficient data and process controls, effective oversight and governance, and compliance with regulatory capital rules and key risk drivers.  The leader will provide strategic advice to senior management on RWA-related implications and optimization.  It is critical for this role to have in-depth knowledge of RWA across all asset classes and risk types (credit risk, market risk, operational risk).  Expectations for this role are to lead a high-performing team of RWA specialists that provide proactive oversight and foster continuous improvements.

Specific responsibilities include but are not limited to:

Central point of contact for IRM oversight of RWA

Manage proactive RWA oversight and monitoring across all asset classes and risk types (credit risk, market risk, operational risk), which includes coverage of data, processes, controls, compliance to rules, and results for actuals and forecasts

Provide strategic direction on RWA initiatives

Lead the Risk Weighted Assets Oversight Committee (RWA OC) and applicable reporting; the Finance CRO and Treasurer are the Chairs of the Committee

Regularly lead meetings and present to senior management and Regulators, therefore strong communication, writing and interpersonal skills are necessary

Manage and ensure implementation of policies and complete applicable compliance assessments

Identify and escalate risk and control issues with transparency, in a timely manner and in accordance with Company policies and procedures

Understand themes and trends across relevant asset classes along with the impact

Build, develop and lead a highly effective and diverse team

Drive the execution of remediation plans, as applicable

Implement the Risk Management Framework through promoting adoption of the Risk Operating Model, setting clear behavioral expectations for risk management, ensuring clearly defined roles and accountability, and promoting a sound control environment

Required Qualifications:

8+ years of Financial 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:

15+ years of experience within accounting, finance, treasury, risk or similar field with extensive financial risk management discipline

Working knowledge of Basel regulations, capital adequacy frameworks, and RWA methodology

Ability to interpret complex regulatory requirements and translate them into actionable processes

Strong analytical, problem solving, and decision-making skills with a focus on driving efficiency and strategic outcomes

Exceptional leadership and communication skills (oral and written), with experience leading cross-functional teams and engaging with all levels of the organization, including senior executives and external regulators

Demonstrated ability to operate independently, work with a sense of urgency, drive results and build strong internal and external relationships

M.B.A., Master’s degree, CPA or CFA preferred

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.

$207,900.00 - $431,900.00

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 benefits401(k) PlanPaid time offDisability benefitsLife insurance, critical illness insurance, and accident insuranceParental leaveCritical caregiving leaveDiscounts and savingsCommuter benefitsTuition reimbursementScholarships for dependent childrenAdoption reimbursement

Posting End Date:

15 Feb 2025

*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.