Commercial Flood Risk Analyst

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message.  In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application.

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Commercial Banking provides financial solutions to businesses with annual sales generally in excess of $5 million. Our business lines are Wells Fargo Commercial Capital, Middle Market Banking, and Treasury Management & Payment Solutions.

The Flood processing team is responsible for the due diligence required for FDPA (Flood Disaster Protection Act) compliance for all transactions requiring special handling Life of Loan monitoring processes related to Lender Placed Insurance (LPI) and Policy Renewals.  Interfaces with Flood Vendors, Line of Business (LOB) partners, Asset Managers, insurance agents, stakeholders to drive completion and resolution of file analysis.  

The Flood processing team is responsible for the due diligence required for FDPA compliance on all transactions. The Flood team is key to ensuring Wells Fargo is fully assessing risk. Failure to mitigate risk would have significant impacts to the Bank by creating defects that could result in regulatory and policy violations and adverse impact to internal and external customers.  

The Commercial Flood Risk Specialist position interfaces with Flood Vendors, LOB partners, Asset Managers, insurance agents, and stakeholders to drive completion and resolution of file analysis.  This position independently performs all analysis and execution of the most complex transactions related to regulated pre-close approval, and Life of Loan (LOL) servicing requirements, including identification of Flood eligible collateral.  

Some other duties include: leads and contributes to the oversight of all aspects of due diligence performed for compliance, and performing customer, loan and regulatory due diligence needed at each stage of the Life of Loan process.  Responsible for ensuring compliance with all bank policies, procedures and regulatory requirements. Responsible for managing complex portfolio exposure related to the FDPA program to include the identification, analysis, and risk mitigation in support of our Flood policies, programs and processes. Performs qualitative or quantitative analysis to minimize the possibility of loss and the potential impact for a highly regulated portfolio.  Participates in development of recommendations for changes and/or risk mitigation opportunities to reduce or eliminate policy exceptions.   Ensures portfolios are maintained to highest standard of regulatory compliance, including updating the System of record to reflect lender placement, should that occur. May provide guidance, assistance and knowledge support to other team members. Ensures all Life of Loan activities and processes (policies, letters, notices, and coverage amount) are completed, packaged and the full file is submitted for the final comprehensive quality regulatory review by the Quality Control/Authorization team. Collaborates with the Quality Control/Authorization team to confirm values, collateral, letters and overall FDPA validation.  Seeks guidance from QC/Authorization leaders or other SMEs regarding loan level scenarios related to policy and procedure interpretation to ensure compliance. Proactively escalates issues and takes ownership of resolution path.  Engages with the LOB partners, Asset Managers, Flood vendors, stakeholders to drive completion and resolution of file analysis. Engages in ongoing feedback loop for defect resolution.  Supports training needs of other team members and employees and keep current on own training requirements.

Please note, this position is currently remote; however, employee will be required to work onsite once Wells Fargo returns to standard operating model. 

***Job posting may be removed earlier than stated close date due to volume of applicants. 

Visit https://www.wellsfargo.com/about/careers/benefits/ for benefits information

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. 



Required Qualifications

  • 3+ years of commercial loan closing experience, commercial loan administration experience, or a combination of both



Desired Qualifications

  • Audit experience
  • Compliance experience
  • Loan servicing experience
  • Property and casualty insurance experience
  • Risk management experience
  • Property & Casualty Insurance Licenses
  • Ability to organize and manage multiple priorities
  • Ability to read and interpret legal documents
  • Knowledge and understanding of loan documentation
  • Solid problem solving skills
  • Certified Insurance Counselor (CIC)
  • Military experience in personnel benefits management, processing military personnel orders or transitions, wartime readiness operations, human resources or military recruiting
  • Military intelligence or analytics experience including operational management, project management, mission evolution management and finance management
  • Professional Insurance designation
  • An Associate in Insurance Services (AIS)
  • Knowledge and understanding of FEMA (Federal Emergency Management Agency)
  • Flood insurance experience
  • Knowledge and understanding of the Flood Disaster Protection Act (FDPA)
  • Commercial loan documentation, preparation, or review experience
  • Ability to navigate multiple computer systems, applications, and utilize search tools to find information
  • Ability to work effectively in a team environment and across all organizational levels; where flexibility, collaboration, and adaptability are important
  • Ability to work in a fast-paced deadline driven environment
  • Effective organizational, multi tasking, and prioritizing skills
  • Excellent verbal, written, and interpersonal communication skills
  • Intermediate Microsoft Office (Word, Excel, and Outlook) skills
  • Strong analytical skills with high attention to detail and accuracy



Other Desired Qualifications
  • 3+ years of corporate insurable risk management, risk management consulting, insurance brokerage, Property and Casualty, insurance or a combination preferred
  • 2+ years of Flood, FEMA, and/or Property and Casualty experience 
  • Understanding of FEMA Guidelines, FDPA Requirements and Flood regulations
  • Ability to critically think through various, complex scenarios, multiple systems & processes
  • Experience reviewing insurance policy applications and insurance contracts for completeness, accuracy, and acceptability of risk


Job Expectations

  • Ability to travel up to 10% of the time



Salary Information

The salary range displayed below is based on a Full-time 40 hour a week schedule.

AZ-Tempe: Min: $52,600 Mid: $73,000
MN-Minneapolis: Min: $52,600 Mid: $73,000
NC-Charlotte: Min: $52,600 Mid: $73,000
TX-San Antonio: Min: $52,600 Mid: $73,000
IA-Des Moines: Min: $52,600 Mid: $73,000



Street Address

IA-Des Moines: 800 Walnut St - Des Moines, IA
NC-Charlotte: 1525 W Wt Harris Blvd - Charlotte, NC
MN-Minneapolis: 600 S 4th St - Minneapolis, MN
TX-San Antonio: 4101 Wiseman Blvd - San Antonio, TX
AZ-Tempe: 1150 W Washington St - Tempe, AZ



Disclaimer

    All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.



    Relevant military experience is considered for veterans and transitioning service men and women.

    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.



Benefits Summary

Benefits
 

Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.

Company
Wells Fargo
Posted
09/01/2021
Type
Full time
Salary Range
$51,000.00 - 91,000.00
per Year
Salary range estimated by
Location
Tempe, AZ 85285, US