Vacancy for Financial Controls associate at Wells Fargo – Bengaluru, Karnataka, India

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 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 than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

About Wells Fargo India

Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.

Department Overview

The Controller’s Division provides subject matter expertise and advice regarding financial reporting, tax treatment, accounting, and internal control activities across all business groups and enterprise functions. The team is responsible for the production and filing of complete and accurate financial and tax reports to the SEC and the bank regulatory agencies, and for the governance and oversight of Financial Reporting risk throughout the enterprise due to its role as an Enterprise Control Activity. The division includes the following functional areas: Accounting Business Unit Support, Accounting Operations, Enterprise Controls & Oversight, Enterprise Financial Reporting (includes Accounting Policy), and Corporate Tax.

Enterprise Controls & Oversight (“EC&O”) within the Controller ‘ s Division is a governance and oversight team dedicated to Wells Fargo’s system of internal control over financial, regulatory, and risk reporting. We are responsible for establishing policy, delivering training and guidance, and monitoring compliance with the COSO Policy and the Governance & Oversight Framework. We work together to consistently support and monitor our system of internal control over reporting, identify opportunities for increased efficiency and effectiveness, and achieve our commitments to Wells Fargo teams, stakeholders, and regulators.

About The Role

The Business COSO team supports the Company’s on-going objective of maintaining an industry leading financial reporting control environment and is responsible for the following directives:

• Providing meaningful assessments of financial, risk, and regulatory reporting control environment;
• Overseeing compliance with Well Fargo & Company’s COSO based policies for internal controls over financial reporting (SEC and Regulatory Reporting) and strategic planning for on-going compliance with the COSO polices (proactive anticipation of internal control related matters);
• Monitoring new and emerging internal control related guidance and issues and assist with facilitating group-wide training to interested and impacted stakeholders;
• Providing consultation and subject matter expertise for process and control related matters including evaluating severity of control deficiencies and related remediation efforts;
• Providing process and control support and thought leadership for projects;
• Interfacing with external auditors, regulators and others on control related matters; and,
• Acting as a change agent for continual improvement of the control environment.

Responsibilities

This individual will contribute to the Business COSO team by

• Performing and/or Leading the following for internal control testing:
• Partnering with Business Process and Control Owners to document significant in-scope processes according to corporate COSO policy (both process narratives and process flow diagrams). Additionally, assessing the appropriateness and completeness of key risk and key controls identified;
• Performing walkthroughs of significant business processes and ensure required COSO documentation is accurate and reflects relevant risk and key controls;
• Partnering with Business Process and Control Owners in the creation of process risk assessments as well as validating and challenging risk assessment conclusions;
• Validating and providing credible challenge to identified shared services, third party service providers, and significant applications;
• Creating Test Plans to perform Business COSO testing of key controls, including design effectiveness assessments and operating effectiveness testing;
• Performing first level review of workpapers ensuring that testing objectives are met with quality.
• Validating and challenging documentation of control deficiencies, including issue description, root cause, unmitigated impact, and corrective actions;
• Analyzing the severity of control deficiencies, and their impact to internal control over financial reporting;
• Validating corrective actions and issues;
• Interfacing with KPMG external auditors, G&O and Issue Management team to assist with assessment of COSO issues.
• Building relationships and collaborating with key stakeholders in the applicable line of business functions related to assigned process areas
• Ability to withstand challenges, be flexible and adapt accordingly
• Assisting with projects impacting the team.

Essential Qualifications

The successful candidate will be a highly motivated team player that is a self-starter who is accustomed to working in complex organizations with a diverse group of stakeholders, and someone who is able to withstand challenges and adapt accordingly. This individual should have COSO documentation and testing experience.

• 4-6 years of experience in one or a combination of the following: Auditing, Accounting, Analytics, Reporting
• A BS/BA degree or higher in accounting, finance, or economics
• Refined and professional verbal and written communications

DESIRED QUALIFICATIONS

• Big four public accounting experience, A Masters of Business Administration (MBA) or a Certified Public Accountant (CPA) or Chartered Accountant (CA) or Certified Internal Audit (CIA) Designation
• Experience with large financial institutions
• Prioritize multiple tasks in a fast-paced environment with critical deadlines

Advanced knowledge of Excel, PowerPoint

@RWF

We Value Diversity

At 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 law.

Employees 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.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, 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.

Reference Number

R-141472