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Head of Credit Risk, WFBI

4 months ago

Dublin, Dublin City, Ireland WELLS FARGO BANK Full time
About this role:

Wells Fargo Bank International (WFBI) is an indirect subsidiary of Wells Fargo & Company. Based in the International Financial Services Centre in Dublin, Ireland, Wells Fargo Bank International is an Irish registered and Irish regulated bank benefiting from a freedom of services passport allowing it to provide support and services to its clients in all EU and EEA countries.

The primary responsibilities of this role are to identify, develop, implement and monitor Credit Risk management practices for the Bank and ensure that they meet the requirements for WFBI and meet the standards for all applicable regulatory guidelines.

In this role, you will:

The PCF 22 role carries both inherent and prescribed responsibilities under the Senior Executive Accountability Regime (SEAR) as follows:
  • Inherent Responsibility - Overall responsibility for managing the operation of the firm's credit function.
  • Prescribed Responsibility - Responsibility for overseeing the credit granting process for new, renewal and re-financing of existing credits, providing challenge in relation to all aspects of current and proposed credit risk exposures, providing comprehensive and timely information to senior management and credit committee on the firm's adherence to policies, guidelines, procedures and limits.
The WFBI Head of Credit Risk is responsible for Credit Risk oversight and governance on behalf of the WFBI Chief Risk Officer (CRO)
  • The primary responsibilities of this role are to lead strategic initiatives to identify, develop, implement and monitor Credit Risk management practices for the Bank and ensure that they meet the requirements for WFBI and meet the standards for all applicable Wells Fargo and regulatory guidelines;
  • In conjunction with the CRO, develop and own Credit Risk Strategy, Credit Risk Appetite and Credit Policy, and lead initiatives to drive credit culture, appetite and business performance with input from senior leadership;
  • Serve as Chair of Credit Committee and ensure it fulfills its primary responsibilities to ensure the effective administration and awarding of credit as guided by the WFBI Board's strategy and risk appetite and within the policies, procedures and practices defined in the Credit Committee Terms of Reference and WFBI's credit risk policies and procedures;
  • Responsibility for the effective operation of the credit operating model, including management of lending authorities delegated to Credit Officers, recommendation of appropriate lending authorities for approval and delegation by CRO, oversight and annual review of lending authorities granted;
  • For credit approvals under the delegated authority of Credit Officers, perform monthly quality assurance oversight in line with laid down procedures;
  • Serve as a voting member on the Asset & Liability Committee ( ALCO), and other committees as required;
  • Responsibility for maintenance and control of the credit risk portfolio;
  • Report to Risk Committee to ensure Credit Risk is managed within Risk Appetite and Credit Policy;
  • Where required, represent WFBI Credit Risk to the WFBI Board of Directors, the Central Bank of Ireland and other relevant bodies; Design a comprehensive Ml suite to manage all key risks and controls, identifying themes and trends and ensuring actions are implemented on a timely basis to address these;
  • Support the embedding of remediation across WFBI Risk and the development and continuous improvement of the risk management framework, statement of risk appetite and overall program of risk management at WFBI;
  • Lead and develop the Bank's Credit Risk team by attracting and retaining talent and by ensuring that credit officers are appropriately skilled in new credit products which arise from the expanded WFBI business model;
  • Provide wider Credit subject matter expertise for change programs and adhoc related projects;
  • Develop strong working relationships and effectively communicate with senior management, LoB team members and EMEA Risk in order to foster a collaborative approach to managing risk and mitigate any potential issues;
  • Work with the WFBI CRO and EMEA Regional Credit Risk Manager to coordinate credit activities with parallel efforts undertaken in WF EMEA to assure alignment on critical activities, e.g. IFRS 9 and ESG. Processes should be streamlined and whenever possible synchronized with similar processes that are undertaken by the lines of business and other parts of EMEA;
  • Provide accurate and timely input into the annual ICAAP process and articulate succinctly, the associated material risks, the mitigation of those risks, the capital allocation and impact of certain stress scenarios;
  • Provide input to Risk Reviews (both internally and externally driven) and Project Work. Provide timely responses to all queries and maintain oversight for the timely implementation of any corrective actions raised in their reviews/reports.
Skills / Experience Required:
  • Excellent track record of holding senior leadership roles within financial services sector including a thorough knowledge of the regulatory environment;
  • Deep and extensive wholesale credit experience essential, with knowledge of Markets and Capital Markets advantageous;
  • Proven experience of leading high performing teams of credit experts;
  • Ability to successfully effect change and assist with driving the growth of company;
  • Excellent senior stakeholder management skills;
  • Strong ability to motivate and lead a team of analysts to drive effective risk management, controlled business growth and complete objectives effectively;
  • High-level ability to analyse and interpret data and create comprehensible insight for teams and stakeholders;
  • Strong communication skills with the ability to present to a nontechnical audience;
  • Degree educated in Business, Accounting, Mathematics, or related field required;
  • Highly organized with well-honed time- management skills and ability to prioritize;
  • Unquestionable ethics;
  • Skilled with Excel, Word and PowerPoint.
Job Expectations:

Central Bank of Ireland Regulatory Requirements

This role is designated as a Pre-Approval Controlled Function 22 (PCF-22) role under the Central Bank Reform Act 2010 (sections 20 and 22) (Amendment) Regulations 2011 (SI No. 615 of 2011), subject to certain regulatory requirements. This includes an obligation on WFBI to carry out prescribed due diligence to assess your fitness and probity, and to satisfy itself on reasonable grounds that you comply with the standards of fitness and probity prescribed by the Central Bank of Ireland pursuant to any code issued under section 50 of the Central Bank Reform Act.

Individuals who perform a PCF role must maintain a level of fitness and probity appropriate to the ongoing performance of that particular function and must comply with WFBI's Fitness and Probity policy.

As a role carrying PCF designation, the role holder will also be subject to the requirements of the Central Bank of Ireland's Individual Accountability Framework, to include the Senior Executive Accountability Regime ("SEAR"), the statutory duty of responsibility and the Common and Additional Conduct Standards. The role holder will be required to possess and maintain the appropriate technical knowledge required to perform the role and to understand the regulatory obligations to which they are subject as a PCF, to include, without limitation, SEAR, the Fitness and Probity Standards and the Conduct Standards. An individual who performs a PCF role has the ability to exercise significant influence on the conduct of WFBI's affairs and ensures, controls or monitors WFBI's compliance with its relevant obligations.Posting End Date:
22 Jun 2024
*Job posting may come down early due to volume of applicants.

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