For more than 160 years, Wells Fargo has been in the risk management business and risk has been very important to its success. They are guided by a statement of risk appetite and are willing to take while operating in a safe and sound manner. The statement of risk consist of seven core principles.
First Wells Fargo is focused on relationship. Which means they will take only as much risk necessary to efficiently, effectively and prudently to serve the consumer, small business, commercial and wealth customers. They are in business to provide value-added services and not to offer products that fail to serve the customer’s best interest or inappropriate for their needs and circumstances.
Wells Fargo understands risk and avoids or minimize risk where there is no …show more content…
It is important to price for both expected and unexpected losses, and to retain those risk exposures with margins sufficient to cover all costs, losses and capital costs.
Wells Fargo has a bias for conservatism. They want to maintain a conservative financial position measured by asset quality, accounting policies, capital levels, funding sources, diversity of revenue sources and overall business volatility. Risk is distributed by geography, product type, industry segment and asset class. Wells Fargo is willing to refrain from business and activities that do not conform to their risk principles and to give up market share rather than accept unsuitable risks.
Team members are committed to operational excellence and are focused on optimizing the efficiency and effectiveness of business operations while minimizing errors. The infrastructure, systems, processes and compliance programs support the financial success of the customer through timely and accurate transactions, balanced decisions, thorough resolution of errors and a focus on continuously improving
First Wells Fargo is focused on relationship. Which means they will take only as much risk necessary to efficiently, effectively and prudently to serve the consumer, small business, commercial and wealth customers. They are in business to provide value-added services and not to offer products that fail to serve the customer’s best interest or inappropriate for their needs and circumstances.
Wells Fargo understands risk and avoids or minimize risk where there is no …show more content…
It is important to price for both expected and unexpected losses, and to retain those risk exposures with margins sufficient to cover all costs, losses and capital costs.
Wells Fargo has a bias for conservatism. They want to maintain a conservative financial position measured by asset quality, accounting policies, capital levels, funding sources, diversity of revenue sources and overall business volatility. Risk is distributed by geography, product type, industry segment and asset class. Wells Fargo is willing to refrain from business and activities that do not conform to their risk principles and to give up market share rather than accept unsuitable risks.
Team members are committed to operational excellence and are focused on optimizing the efficiency and effectiveness of business operations while minimizing errors. The infrastructure, systems, processes and compliance programs support the financial success of the customer through timely and accurate transactions, balanced decisions, thorough resolution of errors and a focus on continuously improving