Head of Merchant Services Compliance
Company: Wells Fargo
Posted on: June 9, 2021
Important Note: During the application process, ensure your
contact information (email and phone number) is up to date and
upload your current resume when submitting your application for
consideration. To participate in some selection activities you will
need to respond to an invitation. The invitation can be sent by
both email and text message. In order to receive text message
invitations, your profile must include a mobile phone number
designated as "Personal Cell" or "Cellular" in the contact
information of your application.
At Wells Fargo, we are looking for talented people who will put
our customers at the center of everything we do. We are seeking
candidates who embrace diversity, equity and inclusion in a
workplace where everyone feels valued and inspired.
Help us build a better Wells Fargo. It all begins with
outstanding talent. It all begins with you.
Independent Risk Management
Independent Risk Management (IRM) helps all Wells Fargo
businesses identify and manage risk. The team focuses on key risks,
including conduct, credit, financial crimes, information security,
interest rate, liquidity, market, model, operational, regulatory
compliance, reputation, strategic, and technology risk. The group
provides leadership, enhances communications, assists with problem
identification and solutions, and shares best practices. In
addition, the group provides an enterprise-wide view of
risk,assists management and our Board of Directors in identifying
and monitoring risks that may affect multiple lines of business,and
takes appropriate action when business activities exceed the risk
tolerance of the company.
Wells Fargo's Consumer Lending businesses empower millions of
customers to achieve their dreams every day. Whether it's buying a
home, purchasing a car, funding a significant purchase, or making
important daily credit card purchases, Consumer Lending provides
important credit products and services that help our customers
succeed. The group includes Home Lending, Auto, Credit Cards,
Retail & Merchant Services, Personal Lending, Consumer Lending
Control, and Consumer Lending Shared Services. The Consumer Lending
team partners with other businesses across Wells Fargo to create
and deliver transformational experiences that help customers gain
access to credit. The vision for the Consumer Lending business is
to leverage technology and data to make it simple for customers to
easily access credit when and where they need it. Consumer Lending
serves customers across the country through our distribution
network of more than 5,300 retail banking branches and Home Lending
offices as well as online and digital channels.
Position Duties and Responsibilities:
- Promote a strong Compliance culture throughout the Merchant
Services lines of business, establishing Compliance priorities with
senior management and communicating these priorities
- Develop and maintain regulatory relationships with all relevant
regulators including (but not limited to) Federal Reserve, Office
of the Comptroller of the Currency, Consumer Financial Protection
Bureau, as well as liaising with internal and external auditors and
assisting in managing responses and addressing compliance issues
raised in audit reports and self-assessment reviews.
- Provide advice to business management in the development of
policies and procedures, for the Merchant Services lines of
business that are designed to achieve and ensure compliance with
corporate and regulatory requirements and corporate policies.
- Assist in the preparation and delivery of compliance training
and awareness programs.
- Identify and investigate potential rule breaches, provide
options available to manage and mitigate them, and coordinate
corrective action with other control functions as
- Provide input into New Business Initiative Approvals involving
business operations and assess Compliance/Regulatory issues/impact
of proposed new products and services.
- Identify and escalate emerging risks to management and risk
partners, as appropriate.
- Collaborate with relevant lines of business, legal, and risk
partners to document process and fulfillment concerns and propose
- Maintain and foster strong relationships with product teams,
control partners, legal, and other lines of business to facilitate
discussions and resolve issues.
- As an Employee Manager, you are expected to achieve success by
leading yourself, your team, and the business. Specifically you
- Lead your team with integrity and create an environment where
your team members feel included, valued, and supported to do work
that energizes them.
- Accomplish management responsibilities which include sourcing
and hiring talented team members, providing ongoing coaching and
feedback, recognizing and developing team members, identifying and
managing risks, and completing daily management tasks.
IMPORTANT: This position will start remotely, however candidates
will be expected to return to an approved location, listed in the
posting, at a future point in time. Please Note: This role is not
open to telecommute long term.
- 10+ years of experience in risk management (includes
compliance, financial crimes, operational risk, audit, legal,
credit risk, market risk, IT systems security, business process
management) or 10+ years of financial services industry experience,
of which 7+ years must include direct experience in risk
- 3+ years of management experience
Other Desired Qualifications
- Experience with the interpretation of laws, rulings and
regulations impacting Merchant acquiring businesses.
- Extensive merchant compliance experience.
- Ability to build and manage a team of Compliance Managers and
Officers who are subject matter experts in the credit products and
surrounded laws, ruling and regulations.
- Providing advice that protects the Bank's reputation and
mitigates regulatory risk.
- Ability to execute verbally, in written form, and display
strong interpersonal communication skills with a wide variety of
levels and communications styles.
- Analytical minded thinking with high attention to detail and
- Ability to work independently, efficiently while maintaining
quality and effectiveness in a fast-paced, changing
- Ability to travel up to 10% of the time
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
for benefits information.
Keywords: Wells Fargo, Chandler , Head of Merchant Services Compliance, Other , Chandler, Arizona
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