CAIA's Career Center is an easy-to-use, comprehensive resource connecting job seekers with employers in the growing AI field. Use your knowledge and credibility to advance your career or build a talented team for your organization. Opportunities targeted to CAIA Charterholders are prioritized.
In order to search for jobs specifically for CAIA Charterholders or those pursuing the CAIA Charter please enter “CAIA” in the search panel.
This will enable you to search for CAIA specific roles globally.
Central Compliance Regulatory Development Consultant
July 8, 2018
London, United Kingdom
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Beijing, Cayman Islands, Dubai International Financial Centre (DIFC), Hong Kong, London, Seoul.
Will Assist EMEA Regulatory Development and Policy Office ("RDPO") team members to:
monitor multi-jurisdictional regulatory developments which may have an impact upon Wells Fargo's wholesale banking/investment management activities within the EMEA region;
perform impact analyses of regulatory developments;
proactively track and communicate these regulatory developments, their 'risk weighting' and impacts (including assist in identifying line of business impacts, and any need for a project, policy, compliance testing and compliance training: the communication will be through regular alerts (e.g. monthly bulletins) and monthly RDPO Forums; and
provide SME knowledge to key regulatory projects, as directed by the EMEA Head of Regulatory Development and Policy.
Will be required to maintain an up-to-date and informed understanding of applicable regulations and their impact to Wells Fargo's wholesale banking/investment management activities in the EMEA region.
Monitoring Regulatory Developments
Proactively monitors multiple regulatory information sources to identify new/revised regulatory developments that are applicable to Wells Fargo's EMEA business activities, with primary focus on prospective EU Directives and UK regulation.
Covers multiple jurisdictions within the EMEA region by monitoring regulatory information sources in relation to such jurisdictions, as directed by senior compliance management, and will liaise with relevant team members in EMEA branches/representative offices as required to centralise regulatory information and encourage knowledge sharing.
Attend regulatory seminars/trade association meetings in order to maintain an up-to-date and informed understanding of regulatory developments impacting Wells Fargo's EMEA business activities. The Consultant will then proactively document and communicate lessons learned to senior management and Compliance team members.
Perform Impact Assessments
Assists in determining whether regulatory developments will impact EMEA business activities through:
securing an understanding of the prospective regulatory change;
liaising with key stakeholders as necessary e.g. Compliance Advisory and Central Compliance team members, relevant line of business contacts and senior management; and
Determine the actual or potential impact of such change on Wells Fargo's EMEA business activities in a timely manner.
Communicate Regulatory Developments The Consultant:
Documents regulatory developments, in an on-line tracker tool, in a timely manner, comprising a summary of each development, with an initial risk rating of "high", "medium" or "low."
Issues email alerts to stakeholders (e.g. EMEA Compliance team leaders, senior management, and relevant lines of business) in relation to identified regulatory developments, which may require their attention.
Emails a fortnightly Regulatory Development Tracker (the "Tracker") to stakeholders, which consolidates the regulatory alerts notified to stakeholders, and provides an overarching view of regulatory developments for that period. The Tracker includes a summary of the regulatory development and an initial impact rating.
Monthly EMEA Regulatory Development Forum (the "Forum")
Assist in organizing and preparing the Forum, whose membership includes senior management, EMEA Compliance, Line of Business Compliance, EMEA Legal, regulatory implementation project managers, and targeted lines of business team members. The Forum is chaired by the EMEA Head of Regulatory Development and Policy.
Communicate regulatory development at the Forum, as may be directed by the EMEA Head of Regulatory Development & Policy (including preparing written communication materials as necessary).
EMEA Projects The Consultant:
Contribute to EMEA regulatory projects as directed by the EMEA Head of Regulatory Development & Policy.
Become the SME to any regulatory development/thematic review having a material impact on Wells Fargo's EMEA business activities, as directed by the EMEA Head of Regulatory Development & Policy.
The Consultant will assist with the creation of risk-based Compliance Management Information for senior management throughout the EMEA region as directed (e.g. EMEA Central Compliance Monthly Reports and Cross Functional and Emerging Risk Committees), and ensure that:
metrics are relevant, and cover all aspects of regulatory developments impacting the EMEA region; and
Exceptions/failures to meet regulatory development implementation plans are appropriately escalated and remedial measures taken.
Skills and experience required:
Legal/Regulatory Development - educated to degree level ideally with legal or strong regulatory advisory or regulatory consulting background gained at a top tier wholesale bank, investment management firm or major consultancy firm.
Regulatory knowledge – knowledge of UK/EMEA regulatory environment, and ideally AML / BSA rules and how these requirements apply to wholesale banking/investment management lines of business.
Wholesale Banking knowledge – Knowledge of wholesale banking/investment management and associated products in order to understand applicability of regulatory change.
Analytical skills – the candidate must have expert analytical skills with experience in collecting, analysing, and synthesising information on various subjects.
Communication - excellent interpersonal, communication (written and presentation) skills and organisational abilities are essential, with an ability to liaise professionally and with diplomacy across all levels of staff in clear and succinct manner.
Drive – a self-starter who is proactive and with a demonstrated ability to drive through regulatory change.
Flexibility / Initiative – ability to manage multiple requests for information and handle confidential and sensitive information in a professional manner in a fast paced deadline driven environment.
Problem solving skills – demonstrated ability to identify key issues, and obtain appropriate information for further analysis.
IT literate - including Microsoft Project, Excel, Access, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
Team members 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.