Financial Controls & Oversight Senior Consultant

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • Wells Fargo
  • 06 Aug 18 2018-08-06

Market Job Description Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Ireland, Beijing, Canada, Cayman Islands, Dubai International Financial Centre

Main Function of the Role:

The Business COSO team supports the Company’s on-going objective of maintaining an industry leading financial reporting control environment and is responsible for the following directives:  
 •Providing meaningful assessments of financial, risk, and regulatory reporting control environment;
•Overseeing compliance with Well Fargo & Company’s COSO based policies for internal controls over financial reporting (SEC and Regulatory Reporting) and strategic planning for on-going compliance with the COSO polices (proactive anticipation of internal control related matters);
•Monitoring new and emerging internal control related guidance and issues and assist with facilitating group-wide training to interested and impacted stakeholders;
•Providing consultation and subject matter expertise  for process and control related matters including evaluating severity of control deficiencies and related remediation efforts;
•Providing process and control support and thought leadership for projects;
•Interfacing with external auditors, regulators and others on control related matters; and,
•Acting as a change agent for continual improvement of the control environment.


This individual will be a member of the Business COSO team responsible for the following team directives:
•Performing COSO Monitoring team responsibilities including: •Supervising and reviewing the work of other COSO Monitoring Team Members who perform COSO Monitoring Team directives;
•Performing walkthroughs of significant processes and ensure required COSO documentation is accurate and reflects relevant risk and key controls;
•Validating and challenging risk assessment conclusions, including assessing the appropriateness and completeness of key risk and key controls identified;
•Validating and providing credible challenge to identified  shared services, third party service providers, and significant applications;
•Performing COSO  testing of key controls, including design effectiveness assessments and operating effectiveness testing;
•Validating and challenging documentation of control deficiencies, including issue description, root cause, unmitigated impact, and corrective actions;
•Analyzing  the severity of control deficiencies, both individually and in the aggregate, and the impact to internal control over financial reporting;
•Assessing the components of internal control for the business unit;
•Monitoring open  control deficiencies and validating corrective actions;

•Building relationships and collaborating with key stakeholders in the SEC and Regulatory Reporting internal control infrastructures; and,
•Assisting with projects impacting the team including implementing the Company’s COSO-based  Regulatory Reporting Governance & Oversight Framework and the 2013 COSO Framework.

Market Skills and Certifications
•Considerable years of experience in one or a combination of the following: Finance, Accounting, Analytics, Reporting
•A BS/BA degree or higher in accounting, finance, or business administration
•Highly refined and professional verbal and written communications with the ability to translate complex technical concepts so that they are clearly understood 
•Big four public accounting experience, Masters of Business Administration (MBA) or a Qualified Accountant Designation
•Experience with governance and oversight accountabilities
•Experience with large financial institutions

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.