Compliance Consultant | Regulatory Compliance Risk Testing & Validation (26255BR)

  • Competitive
  • Toronto, ON, Canada
  • Permanent, Full time
  • Wells Fargo
  • 29 Oct 18

The International Testing & Validation (T&V) function covering both the Canada and Latin America regions has an immediate opening for a Compliance Consultant that will provide second line of defense T&V services concentrated on regulatory compliance risk, control testing requirements. The T&V function provides regulatory compliance oversight through the execution of standardized testing. Designed to provide independent assurance that risk programs and controls are operating effectively across the regulatory compliance, key risk type.

~~Wells Fargo provides middle market, large corporate and financial institution customers with a range of financing solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates in 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Center (DIFC), Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Tokyo, and Toronto.


Wells Fargo first conducted business in Canada in 1854 and since then has continued to build a strong presence across the country. Wells Fargo now offers a broad range of financial products and services through multiple lines of business operating throughout Canada.


As a Compliance Consultant of the T&V team, you will be responsible for executing regulatory compliance testing engagements that are part of the annual plan and also undertake issue validation work efforts. The Team Member will perform independent testing and monitoring activities across an assortment of business lines, legal entities and other related functions within the responsibility of the regions.
Specific duties for this position include, but are not limited to:

Key responsibilities:

  • Development and design of testing strategies and methodologies in accordance with legislative accepted requirement, corporate regulatory compliance, policies, procedures, and internal controls
  • Execute detailed test script procedures, sampling strategies, research and obtain supporting documentation relating to the work performed and document the results of the analysis process
  • Ensure regulatory compliance testing, control testing review activity engagements are proficiently and efficiently performed, accurately interpret results against distinct criteria’s
  • Evaluate the adequacy and effectiveness of legislative requirements, policies, procedures, processes, and internal controls
  • Prepare comprehensive reporting of test conclusions by process/controls and/or mandatory compliance requirements
  • Prepare report findings, providing sensible recommendations, proposing areas for improvement and presenting to business line and regional management
  • Conduct validation testing and follow-up of Issues/Corrective Actions to monitor and assess management’s implementation of recommendations
  • Ensure that assigned compliance activity review assignments that are part of the Annual Compliance Testing Plan are delivered timely
  • Provide compliance testing expertise in the identification of risks, assessing of controls and reporting on effectiveness of controls to ensure compliance with federal, provincial, agency, legal, regulatory, policy and procedure requirements
  • Develops a sound understanding of line of business, local, Canadian, US and any other accepted regulatory legislative expectations

Minimum Qualifications:

  • 2+ years in compliance or operational risk management (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk) and 2+ years in one or more of the following: compliance, operational risk management, business process management or financial services, or a Bachelor's or advanced degree in Business or Economics

Preferred Skills:

  • Understanding of regulatory requirements within Canada and Latin America
  • Strong working knowledge of audit principles including sampling methods
  • Excellent oral, written, and interpersonal communication skills
  • Collaborative team player with business relationship building attributes
  • Ability to meet timeline deliverables in a consistent manner
  • Sound and continued knowledge of the Compliance Risk Assessment process across different lines of business and the Corporation
  • Experience with compliance and operational risk systems such as GRC tools
  • Ability to multi-task between multiple and ongoing responsibilities and assignments
  • Proven ability in exercising independent judgment and applying prudent risk mitigation principles
  • Exhibits flexibility and adaptability
  • Audit or compliance management related certifications (CIA, CPA, etc.)
  • Ability to travel approximately 10 – 20%

Wells Fargo team members 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.  As a Wells Fargo team member, you 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.

At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, colour, gender, gender identity, sexual orientation, national or ethnic origin, age, disability, religion or any other status protected by applicable legislation, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.