Audit Director – Regulatory Relations Management

Wells Fargo
Published
April 15, 2021
Location
Philadelphia, PA
Category
Job Type

Description

Job Description

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.98 trillion in assets.  Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through more than 7,400 locations, 13,000 ATMs, online (wellsfargo.com), and mobile devices. 

We're headquartered in San Francisco, but we're decentralized so every local Wells Fargo location is a headquarters for satisfying our customers' financial needs and helping them succeed financially. We do business with 70 million customers and one in three U.S. households. Wells Fargo has approximately 263,000 team members in 31 countries and territories across our more than 90 businesses.

Wells Fargo & Company was ranked No. 30 on Fortune's 2020 rankings of America's largest corporations.

Wells Fargo Internal Audit

Internal Audit conducts audits and reports the results of our work to the Audit & Examinations Committee of the Board of Directors. We provide independent, objective assurance and consulting services delivered through a highly competent and diverse team.  As a business partner, Audit helps the Company accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

The Team:  Governance, Analysis and Reporting

The Audit Governance, Analysis and Reporting (GAR) Chief Audit Director currently leads a team of approximately 60 team members. The group provides Governance and Oversight over front line risk management activities, ensuring Audit has fully identified the processes it executes, the risks associated with those processes, and has controls in place to mitigate those risks.  The Audit director for the Regulatory Relations Group will lead a team of approximately seven people.

The Role

The Audit Director will be responsible for the development of Audit strategy for regulatory engagement, day-to-day management of Audit's interactions with the regulators, ongoing monitoring and oversight with a focus on the following:

  • Regulatory Strategy and Governance: Develop and maintain Audit's regulatory engagement strategy focused on driving a consistent and well thought-out approach to managing regulatory exams, day-to-day regulatory engagement, understanding and addressing areas of regulatory focus. In addition, lead the development of Audit's responses to supervisory reports (i.e. Reports of Exam, Reports of Inspection) to include formulating action plans to address regulator concern and track to completion.
  • Regulatory Exams: Manage and lead Audit's engagement in the regulatory exam process including managing the exam schedule, meetings and information requests.
  • Liaison Supervisory Meetings for the Chief Audit Executive: Lead regulatory engagement for the Chief Audit Executive of Wells Fargo, including establishing meeting cadence,  understanding meeting objectives, working with the regulatory agency representatives and Chief Audit Directors to prepare meeting agendas and materials, acting as the liaison for the meetings and addressing follow-ups resulting from the meetings
  • Manage Supervisory Meetings for Audit: Develop a centralized approach to managing Audit's day-to-day supervisory meetings with the regulators and deploy a team of professionals to schedule meetings, prepare the agenda and materials, identify relevant attendees, prepare minutes and address follow-ups.
  • Issue Management for Audit: In coordination with Audit Group Issue Manager (direct report), manage Audit owned issues including communication with the regulators, preparation of response to supervisory letters, entering new issues in the system of records, tracking of issues, ongoing status update and closure of issues in the system of records. Manage delivery of final results and supporting documentation to the regulators.  In addition, oversee administration of Audit's Issue Tollgate Process, in alignment with Enterprise Issue Management program requirements
  • Confidential Supervisory Information (CSI) Program Administration:  Oversee Audit's program for ensuring compliance with enterprise and regulatory requirements for CSI, including controls to prevent and remediate unauthorized disclosure of information
  • Program Management and Administration: Manage Audit regulatory relations program including policies, training, reporting, regulatory correspondence distribution & tracking, thought leadership regarding regulatory focus areas, monthly reporting, self-monitoring requirements. This would include deploying and managing governance processes, procedures, templates, practices and escalation processes relative to regulatory engagement.
  • Lead a team:  Recruit, develop, motivate and retain talent within Internal Audit across multiple geographic locations.
  • Partner with Wells Fargo Regulatory Relations: Serve as Audit's liaison to the Operating Group of the Head of Wells Fargo Regulatory Relations, while collaborating on enterprise initiatives related to program development, strategy, issue remediation, and communication
  • Other Requirements: Manage projects and workflow across multiple geographies. Drive automation and data analytics opportunities within their portfolio.

Required Qualifications

  • 6+ years of management experience
  • 10+ years of experience in one or a combination of the following audit or risk functions: leading teams covering risk identification, mitigation and management (includes audit, legal, operational risk, compliance risk, credit risk, market risk, technology risk, or the management of a process or business with accountability for risk.)

Desired Qualifications

  • Certification in one or more of the following: CPA, CAMS, CRCM, CIA, CISA or Commissioned Bank Examiner designation
  • Leadership experience
  • A BS/BA degree or higher
  • Experience at a financial institution or accounting firm
  • Strong understanding of financial regulatory environment
  • Solid knowledge and understanding of audit or risk methodologies and supporting tools

Other Desired Qualifications

The qualified candidate will have a thorough knowledge of regulatory environment and practices relative to large bank supervision.  This executive will have substantial experience and prior success in building, managing and leading teams responsible for managing regulatory engagement for a large banking institution or experience as a lead supervisory for large banking institutions.

Specifically, we seek:

  • Senior leadership experience at large financial institution in leading teams responsible for Regulatory Relations
  • Understanding of the regulatory agencies responsible for supervision over large banks including their operating structure, processes, approach to developing supervisory plans, exam schedule and coordination with local exam teams
  • Strong Project Management skills
  • Proven leadership experience with multi-functional teams across multiple locations
  • Ability to travel up to 25% of the time

Disclaimer

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.

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