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Fair Lending Compliance Officer
Company: Wells Fargo Location: Saint Louis, MO Employment Type: Full Time Date Posted: 09/16/2021 Expire Date: 10/21/2021 Job Categories:
Accounting/Auditing, Advertising/Marketing/Public Relations, Banking, Consulting Services, Finance/Economics, Financial Services, Information Technology, Insurance, Law Enforcement, and Security, Military, Sales, Executive Management, Research & Development
Fair Lending Compliance Officer 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.
As the company's second line of defense, Corporate Risk — or Independent Risk Management — provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of, the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk. Corporate Risk roles depend on a variety of skills, including: Data analysis and synthesis, root cause analysis, change management, process management & execution, risk governance, risk strategy, risk identification & assessment, risk prevention, controls & mitigation, risk monitoring, reporting & escalation, risk systems & technology.
The Fair Lending Compliance Officer team (FLCO) within Responsible Banking Compliance provides independent analysis of business activities that may pose fair lending compliance risk. The successful candidate will be responsible for monitoring a risk-based Fair Lending compliance program to assure compliance with federal, state, agency, legal, and regulatory requirements and the WFC Fair Lending policy. Compliance Officers may also provide oversight for day-to-day business activities including internal risk assessments. The successful candidate will be responsible for continuous enhancement, implementation, and monitoring of a risk-based fair lending compliance program to assure compliance with federal, state, agency, legal, and regulatory requirements and the WF Fair Lending Policy.
Two Positions: Compliance Officer responsible for targeted marketing and Wells Fargo Auto – responsible for providing oversight for day-to-day business activities including internal risk assessments. The successful candidate will also be responsible for continuous enhancement of the program. Knowledge or experience with any of the following is desired: fair and responsible lending principles along with ECOA/FHA knowledge; business practices in marketing, credit, pricing, and servicing for Home Lending, Auto, Credit Card, Personal Loans and Lines, or Small Business Lending. Compliance Officer responsible for lending model oversight - With the increase in artificial intelligence, machine-learning and/or natural language processing models, FLCO holds a critical role in detecting algorithmic bias and driving fairness in customer-impacting models.
This position is responsible for executing fair lending reviews and providing oversight for lending-related statistical models including artificial intelligence, machine-learning and/or natural language processing models. The incumbent will work closely with the Corporate Risk Model Development (CRMD) Center of Excellence to design analyses informed by each model use case, business strategies, practices, and policies. Knowledge or experience with any of the following is a plus: knowledge of regression or other statistical techniques including artificial intelligence, machine learning, natural language processing; fair and responsible lending principles along with ECOA/FHA knowledge; business practices in marketing, credit, pricing, and servicing for Home Lending, Auto, Credit Card, Personal Loans and Lines, or Small Business Lending.
Additional responsibilities include:
Work with complex business and/or special programs; providing compliance and operational risk expertise and consulting for special projects and initiatives with high risk to identify and mitigate fair lending risk.
Work with project managers and business partners to design and establish oversight processes for newly developed programs or requirements, and as needed develop and implement oversight and control solutions.
Conduct periodic fair lending risk assessments and prepare associated reports.
Provide subject matter expert support for issues management related activities
Monitor status of Fair Lending reviews in progress and those completed along with any associated corrective action.
Collaborate with key business partners.
Building and continuously enhancing team knowledge and understanding of business line consumer and/or small business lending policies, practices, and lending strategies, documentation systems
He/she must ensure effective communication of risk management insights and information to internal stakeholders and partners.
Supporting fair lending regulatory exams, audits, and litigation requests as needed
Proactively promoting an inclusive and collaborative work environment
May manage other team members as assigned
**Please note that posting duration may be shortened based on job seeker volume.**
7+ 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 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management
An active Certified Regulatory Compliance Manager (CRCM) designation
Advanced Microsoft Office (Word, Excel, Outlook and PowerPoint) skills
Ability to take initiative and work independently with minimal supervision in a structured environment
Experience developing partnerships and collaborating with other business and functional areas
Knowledge and understanding of statistical analysis
Strong attention to detail and accuracy skills
Ability to articulate complex concepts in a clear manner
Strong, clear and concise written and oral communication skills
Ability to simultaneously lead multiple projects
Ability to assess issues, make quick decisions, implement solutions, and influence change
Ability to exercise independent judgment and creative problem solving techniques
A BS/BA degree or higher
Other Desired Qualifications
Fair Lending experience
Business practices in marketing, credit, pricing, and servicing for Home Lending, Auto, Credit Card, Personal Loans and Lines, or Small Business Lending.
Ability to travel up to 5% of the time
The salary range displayed below is based on a Full-time 40 hour a week schedule.
NC-Charlotte: 401 S Tryon St - Charlotte, NC TX-Irving: 5000 Riverside Drive - Irving, TX IA-West Des Moines: 7001 Westown Pkwy - West Des Moines, IA MN-Minneapolis: 600 S 4th St - Minneapolis, MN AZ-Tempe: 1150 W Washington St - Tempe, AZ MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO
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.