Product Governance Lead

Wells Fargo
London, United Kingdom
01 Aug 2022
09 Aug 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
About this role:

The Product Governance function is part of the risk and control function that sits within the EMEA Chief Operating Office. It is responsible for the design, implementation and delivery of the Enterprise New Business Initiative process which is integral and fundamental to the Enterprise Risk Management framework.

The Enterprise New Business Initiative process is foundational to the successful product risk review by providing robust due diligence reviews including check and challenge of new and modified products prior to approval and implementation. In addition, it owns and manages the full end to end product lifecycle of ongoing reviews and retirements. The management of the New Initiatives Committee (EMEA NIC) also falls within the scope of the function.

The role holder will have an excellent opportunity for development across a range of activities and exposure to senior stakeholders across the global company. Also the role holder would be required to facilitate key controls and activities across multiple Wells Fargo legal entities and lines of businesses in EMEA.

The main responsibilities of the role holder will include:
  • Oversee the end to end process for approval and implementation of all new and modified products and business initiatives.
  • Own and manage the product inventories of all in scope legal entities to ensure that the annual review and attestation process is completed.
  • Manage the Service Level Agreement process for the product governance services being undertaken by the EMEA COO function on behalf of all in scope legal entities.
  • Supporting the EMEA NIC to complete all submissions to the committee and reporting obligations to all governance forums and functions
In this role, you will:

New Business Initiatives Approval Management
  • Work in partnership with the various lines of businesses to operationalize the business strategy through the implementation of an enhanced product governance framework that effectively manages risk.
  • Develop and implement minimum standards and best practices for product governance throughout the region and International.
  • Lead the risk assessment process for all new and modification of existing products and business initiatives by initiating kick off sessions to bring all stakeholders together to commence the product governance risk assessment.
  • Facilitate the due diligence review process by providing clarity of the process and support all stakeholders throughout the process including providing clarity around roles and responsibilities.
  • Undertake quality checking assessments of all materials prepared for submission to the EMEA NIC, ensuring that all the output of the due diligence review undertaken have been considered and appropriately addressed in the submission.
  • Ensure that all relevant risks are identified and the required controls and/or mitigation activities are clearly captured and signed off by the relevant support functions.
  • Act as a subject matter expert on best practices and developing trends in product governance such as ESG.
  • Develop and deliver product governance training and awareness sessions to promote regular sharing of information.
  • Build and maintain effective stakeholder relationships across the region, International and Enterprise.
Product Inventory Management, Periodic Reviews and Oversight
  • Managing the product inventory for all business lines and legal entities and facilitating the annual attestation process by Accountable Executives in region to comply with regulatory requirements.
Product Governance Management Information (MI) & Reporting
  • Contribute to the product governance MI reporting activities.
  • Ensure the accuracy, integrity, completeness, and reliability of data and information provided in reports
Required Qualifications, International:

  • A basic understanding of different risk types, i.e. financial and non- financial risks associated with product offering.
  • Experience in the Financial Services industry
  • Product knowledge over a broad set of asset classes and transactions (e.g. Equities, Commodities, FX, Rates, Structured Products, Private Equity, eCommerce, Cash Management, Trade Finance, and Custodial Services)
Excellent organizational skills, ability to multi-task effectively in a high volume and complex environment with changing priorities
  • Excellent communication skills across all stakeholders
  • Strong interpersonal skills, ability to collaborate across multiple geographies, businesses and functions
  • Ability to build strong internal and external networks
  • Good team player while working independently to bring tasks to completion
  • Self-starter, with an ability to assimilate and analyze large amounts of information
  • Strong tenacity, resilient under pressure in a fast paced and demanding environment
  • Highly engaged with a strong work ethic
  • Strong attention to detail and outcome oriented
  • High level of integrity
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.

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