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Lead Compliance Officer - Tax Information Reporting Compliance

Company: Wells Fargo
Location: Irving
Posted on: June 25, 2022

Job Description:

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. About this role:Wells Fargo is seeking a Lead Compliance Officer on the Tax Information Reporting Compliance Team as part of Independent Risk Management (IRM). Learn more about the career areas and lines of business at .The Tax Information Reporting Compliance team executes a horizontal compliance program for customer tax requirements across the company. The Lead Compliance Officer- Tax Information Reporting Compliance will be required to build strong relationships with risk peers/partners, Business and the Enterprise Functions group communities, and Senior Managers of those groups providing subject matter expertise in the customer tax regulatory compliance arena.Specific duties for this position include, but are not limited to:

  • Perform activities required under the Wells Fargo Compliance Program Policy and related policies and procedures
  • Support management and oversight of regulatory sources
  • Review Major Requirements in SHRP (program work/MRE creation)
  • Provide SME advice on Major Compliance Requirements
  • Review legal regulatory alerts and regulatory requirements, and work with the business to determine applicability to lines of businesses and support functions, and assist with control creation or update
  • Participate in applicable Business Process Mapping
  • Monitor issues management, self-assurance activities, policy implementation, business compliance procedures
  • Review and credibly challenge compliance related business process management, procedure, projects, and business specific controls
  • Review T&V test scripts
  • Review & credibly challenge third-party IRQs & CRRA
  • Escalate (as necessary) issues, emerging risks, Key Indicator breaches, and Notable/Focus Items
  • Provide advice, direction & credible challenge to corrective action plans, root cause, related regulatory sources & policies, risk type, risk level and risk acceptance for Compliance related front-line issues
  • Review & credibly challenge Compliance issue due date extension requests
  • Participate in enterprise/cross business initiatives to ensure successful implementation of applicable regulatory changes or other required action plans
  • Review new Wells Fargo policies and changes to existing policies to determine applicability to laws and regulations supported
  • Support internal testing, audits or regulatory examinations as needed, including review of test scripts for testing programs managed by Testing and Validation teams
  • Collaborate effectively with Front Line partners, Operational Risk, Legal and other partners
  • Assist team members with ad hoc assignments Preferred location(s) listed above. Other locations within the Wells Fargo footprint may be considered for current Wells Fargo employees. In this role, you will:
    • Provide oversight and monitoring of business group risk based compliance programs
    • Maintain compliance risk expertise and consulting for projects and initiatives with moderate to high risk, over multiple business lines
    • Establish, implement and maintain risk standards and programs to drive compliance with federal, state, agency, legal and regulatory and Corporate Policy requirements
    • Oversee the Front Line's execution and challenges appropriately on compliance related decisions
    • Develop, oversee, and provide independent credible challenge to standards with subject matter expertise
    • Provide direction to the business on developing corrective action plans and effectively managing regulatory change
    • Report findings and make recommendations to management and appropriate committees
    • Identify and recommend opportunities for process improvement and risk control development
    • Receive direction from leaders and exercise independent judgment while developing the knowledge to understand function, policies, procedures, and compliance requirements
    • Monitor the reporting, escalation, and timely remediation of issues, deficiencies or regulatory matters regarding compliance risk management
    • Oversee the Front Line's execution and challenges appropriately on compliance related decisions
    • Make decisions and resolve issues to meet business objectives
    • Interpret policies, procedures, and compliance requirements
    • Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
    • Work with complex business units, rules and regulations on moderate to high risk compliance matters
    • Interface with Audit, Legal, external agencies, and regulatory bodies on risk related topicsRequired Qualifications, US:
      • 5+ years of Compliance experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, educationDesired Qualifications:
        • Significant experience in analyzing, complex compliance problems and developing and operationalizing solutions
        • Significant experience/knowledge in the operation of compliance programs at a large financial services institution.
        • Experience managing compliance-driven initiatives and / or processes which require close partnership with compliance and / or audit functions
        • Experience with enterprise-wide change management initiatives, infrastructure and technology enablement, and driving / balancing strategic needs with competing priorities
        • Effective at driving successful execution of plans; ability to plan, prioritize, and set goals
        • Demonstrated ability to build and maintain strong credible relationships with key stakeholder groups including management, regulators, front line businesses, and enterprise functions
        • Knowledge of regulations and processes related to the customer tax documentation, withholding and reporting requirements applicable to financial institutions.
        • Knowledge and understanding of regulatory compliance requirements surrounding FATCA (Foreign Account Tax Compliance Act We Value Diversity 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, national origin, disability, or status as a protected veteran. 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.

Keywords: Wells Fargo, Irving , Lead Compliance Officer - Tax Information Reporting Compliance, Advertising , Irving, Texas

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