Business Risk & Controls Associate
- Wells Fargo
- 2 - 6 years
- Bengaluru
- 5 years ago
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Job Description
About Wells Fargo India
Wells Fargo I&P enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFI&P operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about Wells Fargo I&P at our International Careers website. Department Overview
Commercial Banking Business Risk and Control is the front-line risk management organization for Commercial Banking. It is accountable for holistically assessing, aggregating, and effectively managing risks across all applicable risk types and the Commercial Banking lines of business. Commercial Banking Business Risk and Control is responsible for effective governance, design, implementation, monitoring, and reporting of risks and controls within Commercial Banking line of business About the Role
Community Reinvestment Act (CRA) Background: In order to evaluate Wells Fargo s performance under the law, regulators require the bank to provide an annual report comprised of its Small Loans to Businesses and Farms (SLBF) loan/line record originations. This information is subsequently available to the public. To accomplish this, data for all SLBF must be accurately collected, maintained, and submitted to the federal government each year. Responsibilities
Wells Fargo I&P enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFI&P operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about Wells Fargo I&P at our International Careers website. Department Overview
Commercial Banking Business Risk and Control is the front-line risk management organization for Commercial Banking. It is accountable for holistically assessing, aggregating, and effectively managing risks across all applicable risk types and the Commercial Banking lines of business. Commercial Banking Business Risk and Control is responsible for effective governance, design, implementation, monitoring, and reporting of risks and controls within Commercial Banking line of business About the Role
Community Reinvestment Act (CRA) Background: In order to evaluate Wells Fargo s performance under the law, regulators require the bank to provide an annual report comprised of its Small Loans to Businesses and Farms (SLBF) loan/line record originations. This information is subsequently available to the public. To accomplish this, data for all SLBF must be accurately collected, maintained, and submitted to the federal government each year. Responsibilities
- This position requires an understanding of Community Reinvestment Act (CRA)
- Responsible for evaluating, monitoring, assessing and/or reviewing programs, processes, claims, documentat6ion and/or files to ensure compliance with internal company requirements and/or agency or government regulations.
- Functions may include evaluating processes to ensure business standards are followed; providing guidance to lenders and other staff regarding documentation and underwriting requirements; reversing credit decisions where necessary; or evaluating in-process, closed, cancelled and declined credit applications, insurance claims, accounts, files, systems and/or processes to ensure company standards are met.
- Ensures corrective action on exceptions and problems identified, required data is input and proper procedures are followed.
- Ensures identified risks and/or problems are clearly documented and interacts with appropriate parties for timely resolution.
- Performs ongoing reviews and generates reports summarizing results. Identifies risks and problem areas and recommends standards, policies, and procedures to correct deficiencies and improve performance.
- May design and conduct training programs.
- The position also requires the ability to communicate broad themes about the entire portfolio to senior management and other stakeholders.
Essential Qualifications 5+ years of experience in a banking/ mortgage process
University degree in Business or related discipline.
Excellent verbal and written communication skills.
Strong Quality control and assurance experience coupled with good Risk knowledge
Excellent reporting skills and advanced Excel knowledge Desired Qualifications Experience in Banking/ Mortgage
University degree in Business or related discipline.
Excellent verbal and written communication skills.
Strong Quality control and assurance experience coupled with good Risk knowledge
Excellent reporting skills and advanced Excel knowledge Desired Qualifications Experience in Banking/ Mortgage
Job Classification
Industry: Banking, Financial Services, BrokingFunctional Area: Accounts, Finance, Tax, Company Secretary, Audit, Role Category: OtherRole: OtherEmployement Type: Full timeEducation
Under Graduation: B.B.A / B.M.S in ManagementPost Graduation: Post Graduation Not RequiredDoctorate: Doctorate Not Required, Any Doctorate in Any SpecializationContact Details:
Company: Wells FargoLocation(s): Bengaluru+ View Contact
Keyskills: Business services Loans Assurance management Underwriting Commercial banking Advanced Excel Manager Quality Control Risk management Monitoring
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Wells Fargo & Company (NYSE: WFC) is a diversified, community- based financial services company with $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 more ...
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