CDF Asia Risk Leader
About Wells Fargo: 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 the Department:
The CDF Asia Risk Department is centralized in Singapore and is responsible for all aspects of Risk Management including but not limited to Underwriting, Operational Risk, Portfolio Management and Field Audit Services.
The team comprises experienced Risk professionals with focus on ensuring risks are identified and managed appropriately and escalated to senior management as necessary whilst ensuring an appropriate balance with customer service.
About the Role:
The CDF Asia Risk Leader will report directly to the CDF APAC Risk Leader. The role will be responsible for managing all areas of risk including Underwriting & Portfolio Control. The Regional Risk Leader will be required to make written recommendations and present to management those deals within their Portfolio and to lead the underwriting for key accounts.
Additionally, the Asia Risk Leader will be responsible for minimizing losses within the assigned portfolio through the early identification and assessment of non-performing accounts and determine whether performance can be satisfactorily remedied to return an account to a performing status or whether exiting the relationship is the appropriate action to take.
The role will be based in Singapore and will also be responsible for managing initially up to 5 direct reports.
Responsible for all aspects of the process for new business opportunities, incorporating credit risk assessment (Analysis of financial statements, profit & loss, cash flow and balance sheet and review of financial forecasts), assessment of all other relevant credit information as applicable.
•Assessment of all other aspects of risk including but not limited to; Documentation risk, Asset risk, Legal Risk, Compliance risk, Operational risk etc. ensuring any identified risks are mitigated appropriately
•Conducting rigorous annual reviews of existing credits covering all aspects of risk plus in-life performance of the customer and where appropriate peer-group comparisons.
•Acting timeously upon 3rd party information which could have an adverse impact upon the risk profile of existing customers
•Be the point of expert reference for Underwriting to provide advice and support as required in relation to CDF specific policies, processes & documentation along with general credit & risk matters
•Visiting customers where Risk presence is deemed appropriate due to the size or risk profile of deals
•Supporting New Relationship Development activity. Co-ordination of information flow from transaction stakeholders including client, Capital Markets team and other WF associates as required
•Involvement with Originators in preparation and presentation of preliminary credit presentation (“ERM”) if deemed appropriate. Prepare and present formal credit approval request (“DRM”) to requisite WF risk approval personnel as well as manage the credit approval process
•Manage & administer initial legal documentation of transaction, security registration, and AML requirements.
•Co-ordination of loan closings and handovers to Account Management.
•Build awareness and experience of Credit Insurance as a key risk mitigant.
•Manage, coordinate, train and develop junior resources in both general Underwriting / Risk Management skills but also in specific CDF product environment and ensure work prepared by them is of an appropriate standard.
•Monitor assigned portfolio and investigate related Deficiencies.
•Deficiency management / resolution of problem loan accounts including overdue principal and interest amounts.
•Problem loan workout, end of finance rescheduling
•Litigation and insolvency handling (internal and external)
•Manage Watchlist Reporting and related Loss provisioning
•Ensure adherence to Standard Operating Procedures for Portfolio Control
•Management, training & development of Account Management staff.
•10+ years of proven experience of Underwriting & Risk Management preferably in a fast moving commercial finance environment
•Strong teamwork values and strong work ethic and commitment
•Professional customer / associate / senior management relationship skills
•Ability to coach, mentor & develop junior team members
•Multi-skilled and versatile with ability to manage multiple tasks
•Ability to work proactively to solve problems and work independently
•Able to work under tight schedules to a high quality and consistently meet objectives.
•Clear concise written & oral communication
•Fluency in English
•Proficient in MS Office Suite (Word, Excel, PowerPoint) programs
•Readily able to adapt to using business tools to support role e.g. Salesforce, Business Objects, AIMS, PCS.
•Work within the framework of company regulations e.g. data protection, ensuring compliance at all times
•Ability to stay abreast of market and portfolio trends and industry best practices
•Risk / Operations Management experience in a Leasing/ cash-flow / ABL or Financial Services environment
•A bachelor's degree, preferably in Finance, Accounting or Business
•CFA and/or CPA holder
Team members 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.