Chief Administration Officer - Risk
Wells Fargo is one of the largest financial services companies in the world with approximately US$1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through various distribution channels around the world. With more than 270,000 team members, Wells Fargo serves one in three households in the United States.
Wells Fargo’s vision is to satisfy all its customers’ financial needs and help them succeed financially. A key focus of that vision is serving the increasing financial needs of financial institutions, non-bank financial institutions and corporates. More than 3,000 team members cover the international needs of Wells Fargo’s clients from over 35 global locations.
With regional headquarters in Hong Kong, branches in Seoul, Shanghai, Beijing, Singapore, Taipei, and Tokyo, and 12 representative offices, Wells Fargo covers a diverse range of businesses in Asia Pacific that includes Global Financial Institutions, Global Banking, Global Payment Services, International Trade Services, Wells Fargo Securities and Wells Fargo Asset Management.
At Wells Fargo we have a new and exciting opportunity for a highly skilled and experienced Chief Operating Officer based in Hong Kong.
The main function of the role will to be to provide business manager support to the Regional Risk Executive and the groups under the APAC Regional Risk framework, including: Compliance, Financial Crime, Credit, Market, Liquidity, Reputational and Operational Risk.
A critical function of this position is coordinating business support activities across the APAC risk group with US based business managers and leaders, and ensuring consistency in approach with the other regions (EMEA/Canada/LATAM):
- Chief of Staff functions.
- Act as trusted advisor to the RRE and his senior management.
- Manage the aggregation of all risk information for use by the risk team and the formulation of risk reporting for governance purposes.
- Assist risk groups in following existing expense policies and create processes to drive expense efficiencies.
- Manage internal communications across the Risk group, senior level presentations, off sites, etc.
- Manage administrative functions on behalf of the risk groups.
- Conduct an ongoing operational review of the RRE policies and practices, including the continuous identification and implementation of process and system improvements.
- Manage new initiatives for the Risk group.
- Key Responsibilities Include:
- Work with the RRE, and the Risk leaders to create and maintain a comprehensive strategic plan for the group’s activities, and lead initiatives to enable its implementation.
- Find efficiencies across the APAC RRE structure by understanding the needs of the constituent risk groups and the needs of the business (as they pertain to the risk functions) and creating appropriate strategic solutions.
- Work with senior leaders on day-to-day activities: communications with staff, staff planning & management, staff needs, hiring needs, recruiting needs, etc.
- Work with COO office to assure that adequate space, equipment and technology are available for the risk team
- Plan for and evaluate impact to the APAC risk groups of regulatory developments and industry mandates, then design & implement solutions to meet requirements.
- Ensure that the Disaster Recovery needs of the risk groups are met and successfully tested.
- Serve as the primary liaison between the Risk groups and the various support partners (legal, TOG, HR etc.); driving accountability across all internal functions.
- Drive infrastructure strategy on behalf of the Risk Groups.
- Close partnership and coordination with LOB business managers throughout APAC, in support of the RRE and the APAC Risk groups.
- Consistently communicate the Risk vision and objectives to the Risk groups and provide direction and leadership as needed.
- Leads initiatives for the Risk group, tracking of project deliverables and tasks with a high degree of understanding of highly complex processes and systems and their interdependencies, and regulatory and internal control requirements
- Reporting on a regular and ad hoc basis in relation to emerging issues and accountabilities.
- Attends the New Initiatives Committee and helps drive accountability for completion of due diligence.
- Seeks to drive efficiencies across all regional committees and forums.
- To be considered for the role:
- Extensive proven Risk and or Compliance experience, from a similar role is strongly preferred.
- Experience in capital markets, asset management and/or lending businesses
- Must be able to work independently while providing leadership and positive collaboration within a fast paced, team environment.
- Able to execute large complex initiatives in a large corporate environment, while effectively partnering with others.
- Background and/or experience in legal, operations, compliance, risk management, business management and/ Governance of complex project and processes involving multiple disciplines within the organization.
- Creative and strategic thinking skills, including the ability to analyse business issues and identify key risks/mitigating controls, combined with a pragmatic approach to problem solving.
- Highly developed interpersonal skills, with an ability to communicate effectively with both the line of business and technical Team Members
- Strong influencing skills in a matrix reporting environment, with a proven ability to effectively and professionally interact at a high level with senior management.
- Exceptional organizational, analytical and documentation skills.
- Working knowledge of the US and APAC/International wholesale banking regulatory environment is an advantage
- Ability to manage many competing projects effectively for on-time delivery
- Demonstrated financial discipline with respect to budgeting and financial projections
- Self-starter and able to recognise opportunities for improvement and to act on those opportunities.
- Unquestionable ethics.
- Asset Allocation
- Capital Markets
- Corporate Communications
- Disaster Recovery Planning
- Due Diligence
- Internal Control
- Operational Risk
- Risk Management
- Risk Reporting
- Wholesale Trading