What are the responsibilities and job description for the Compliance Specialist position at wellsfargo?
Title: Compliance Specialist
Location: Charlotte, NC
Duration: 7 Weeks
Benefits on offer for this contract position: Health Insurance, Life insurance, 401K and Voluntary Benefits
Summary:
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. Support the oversight or monitoring of a risk-based compliance program. Provide support in developing and overseeing standards with some business and functional knowledge. Provide compliance risk insight and support projects and initiatives with low to moderate risk for a business line or functional area. Work with a business unit, a defined set of rules and regulations on low to moderate risk compliance matters. Support the reporting, escalation, and timely remediation of issues, deficiencies or regulatory matters regarding compliance risk management. Provide direction to the business on developing corrective action plans and effectively managing regulatory change. Provide support in reporting findings and drafting recommendations to management. Support and implement initiatives with low to moderate risk. Interact with team to support risk oversight and monitoring. Manage and ensure accuracy of data. Troubleshoot system issues to determine root cause. Research and implement new regulatory rules and manage other Registration Team related projects. Identify and recommend opportunities for process improvement and risk control development. Establish and maintain effective relationships with various teams. 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. Interact with internal customers. Receive direction from leaders and exercise independent judgment while developing the knowledge to understand function, policies, procedures, and compliance requirements.
Responsibilities:
- Support leadership, executing several critical tasks required to support the development and maintenance of Wells Fargo’s regulatory inventory;
- Support the team to implement changes needed to transition established regulatory inventory records to a new regulatory inventory compliance system of record;
- Perform the process to update data within the regulatory inventory;
- Participate in various enhancement and reconciliation activities to re-organize/consolidate Major Compliance Requirements (MCRs), as needed;
- Assist the team that builds and maintains the regulatory inventory. You will collaborate with the team to make decisions regarding the applicability of various laws, rules, and regulations to WF lines of business and functions.
- Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
- Understand citation conformance standards and working with large volumes of regulatory citations
- Maintain compliance risk expertise and consult 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 U.S. federal, state, and international legal and regulatory requirements
Qualifications:
- Licensed Attorney or certified paralegal (Preferred)
- Advanced understanding of legal and regulatory information globally for laws and rules applicable to Wells Fargo businesses
- Ability to provide credible challenge, while exercising sound judgment and professionalism, regarding whether or not laws apply to lines of business.
- Experience in the financial industry
- Ability to research laws and regulations and draft summaries describing how they potentially apply to the Company
- Excellent verbal, written, and interpersonal communication skills
- Knowledge of legislative and regulatory processes
- Highly proficient at using Microsoft Excel
- Strong attention to detail and accuracy skills
