The EMEA Financial Crimes Risk Management team ('FCRM') in London is an independent risk management (IRM) function (2 nd line) and forms part of the broader Compliance department which includes regulatory compliance and the control room. The team is dedicated to the prevention and detection of financial crimes (money laundering, terrorist financing, sanctions, bribery & corruption, the facilitation of tax evasion and fraud) across multiple wholesale and investment management lines of business in the UK, and across the wider Europe, Middle East and Africa (EMEA) region.
The primary focus of the role is develop and manage the EMEA Sanctions Program including policies, procedures, processes, models of interaction with first line sanctions programs and oversight of training within region; ensuring the implementation of applicable corporate policies; and oversight of the end-to-end applicable fist line Sanctions programs.
The role will also be the primary point of contact for all Sanctions related escalations raised by the business, Group teams, Regulators and Internal Audit and the primary contact with the Office of Financial Sanctions Implementation
- Responsible for developing, implementing and monitoring all aspects of the IRM EMEA Sanctions Program to ensure compliance with regional, national, agency, legal and regulatory requirements.
- Work with front line business units and operations teams to provide credible challenge, advisory input and subject matter expertise and advice on projects, risk assessments and initiatives to ensure legal and regulatory risk in all business activities is identified, assessed and mitigated.
- Work with Global Sanctions, Wholesale and Wealth and Investment Management, Financial Crime Control teams and International Group Partners, as well as EMEA Operational Risk, HR Corporate Security and Cyber Threat Management as required to identify, assess and mitigate risk.
- Develop testing strategies and methodologies; evaluate the adequacy and effectiveness of policy, programs, procedures, processes, initiatives, products and internal controls and identify issues resulting from internal and/or external compliance examinations.
- Consult with business to develop corrective action plans as required and effectively manage change to ensure compliance with applicable sanctions legislation and the Group program.
- Identify training opportunities; design/coordinate the development of training materials and deliver training with particular focus on sanctions risk.
- Horizon scanning for key legal, regulatory or industry developments and provides newsletters/briefing materials as required; attendance at relevant industry discussion groups.
- Prepare production of periodic reports for senior management, including trend analysis and recommended strategies and work activities to strengthen the fraud risk management programs.
- Coordinate regulatory examinations conducted by external parties and facilitate internal audit reviews and compliance testing relating to sanctions risk.
- In coordination with ASA Legal, prepare reporting and licence requests to the Office of Financial Sanctions Implementation
- Working with first line teams and Global Sanctions as appropriate, assist in EMEA sanctions related investigations as required.
- Manage resources or project teams as required.
We Value Diversity
- Prior experience in a wholesale bank or financial services firm in sanctions compliance or risk management, including experience of developing policies, procedures, metrics and governance frameworks.
- Detailed knowledge and understanding of relevant laws and regulations as they relate to sanctions and wider financial crime issues.
- Demonstrated experience working in a high pressure environment, working to tight deadlines and displaying efficiency and effectiveness on a daily basis.
- Strong attention to detail.
- The ability to work unsupervised and the willingness to work extra hours, when required to do so.
- Excellent IT skills, including Excel and PowerPoint.
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, or national origin.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, 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.