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Head of Merchant Services Compliance

Company: Wells Fargo
Location: Chandler
Posted on: June 9, 2021

Job Description:

Job Description

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.

Consumer Lending

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 effectively.
  • 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 necessary/required.
  • 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 solutions.
  • 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 will:
  • 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.

Required Qualifications

  • 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 management
  • 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 accuracy.
  • Ability to work independently, efficiently while maintaining quality and effectiveness in a fast-paced, changing environment.

Job Expectations

  • Ability to travel up to 10% 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.

Benefits Summary

Benefits

Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.

Keywords: Wells Fargo, Chandler , Head of Merchant Services Compliance, Other , Chandler, Arizona

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