Senior Compliance Specialist Job In The Wells Fargo Foundation In Chennai, India

About this role:Wells Fargo is seeking a Senior Compliance Specialist to assist the Compliance Director with developing, implementing and monitoring risk-based compliance programs to assure compliance with federal, state, agency, legal and regulatory requirements for Consumer Lending Compliance Shared Services This role will be focused on Model Governance Functions relating to Consumer Impacting Models Compliance Risks in models, particularly AI/ML Models has been an area of increased regulatory scrutiny and the Compliance Model Governance function is at the crossroads of Compliance and Model Risk Material regulation of focus would be Fair Credit Reporting Act (Reg V), Data Privacy Laws Eg Graham Leach Bliley Act, California Consumer Privacy Act (CCPA) EU's General Data Protection Regulation (GDPR)In this role, you will:

• Establish, implement, and maintain risk standards and programs to drive compliance over in-scope Models
• Provide oversight over appropriate model use, risk ranking, inventory challenge, model change management, and ongoing performance monitoring over in-scope Models.
  
  
• Oversee the Front Line's (Model Developer/ owner) execution and challenges appropriately on compliance related decisions
• Provide oversight and monitoring of risk-based compliance programs on Consumer facing Models, oversee standards
• Provide subject matter expertise with comprehensive knowledge of the Models under review
• Provide compliance risk expertise and consulting for projects and initiatives with moderate risk for a business line or functional area
• Monitor 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 compliance risk expertise, specifically Data / Privacy and Fair Credit Reporting Regulations
• Identify and recommend opportunities for process improvement and risk control development
• Receive direction from leaders and exercise independent judgment while developing the knowledge to understand function, policies, procedures, and compliance requirements

Required Qualifications, US:

• 4+ years of Compliance experience, Model validation / Model governance or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Required Qualifications, International:

• Experience in Compliance, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• Model Validation or Governance Background
• Working knowledge of Data / Privacy laws and Fair Credit Reporting Act (FCRA) requirements

Job Expectations:

• Provide governance over in-scope consumer facing Models, which includes the review of the model to determine if there are FCRA or Data Concerns
• Solicit feedback from Legal, Business Aligned Compliance Officers and Horizontal Compliance functions during the review of Models
• Prepare and archive model review documentation
• Review initial Model Classification, Risk Rank and Risk Rank Overrides and Risk Rank Changes
• Review and Challenge Model Validation Results
• Participate in Model Monitoring Programs and any Required Quarterly/Annual Monitoring Reviews

We Value DiversityAt Wells Fargo, we believe in diversity, equity and inclusion in the workplace accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable lawEmployees 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 requirementsCandidates applying to job openings posted in US:All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities Accommodation for applicants with disabilities is available upon request in connection with the recruitment process

The Wells Fargo Foundation is looking for .

The Wells Fargo Foundation is looking for Any Graduate / Post Graduate profile candidates.