Institutional Investment Operations Manager
2 weeks ago
About the Role:
This is a Senior management position within the Corporate and Investment Banking Shared Services Operations Account Due Diligence Team.
The individual will be responsible for assisting with the management and development of Client Due Diligence, Anti Money Laundering, Compliance, and Operational Risk people and processes as well as select applications and projects for multiple lines of business.
Specifically, this role will be responsible for performing team oversight for business processes including Customer Identification Program verification, reviewing Customer Due Diligence, and collecting Enhanced Due Diligence for higher risk clients in support of the Bank Secrecy Act ("BSA"), the WFS Anti-Money Laundering ("AML") program, and the Ongoing Review program while ensuring the process complies with relevant regulations and corporate policies.
The role also requires oversight of a team performing verification, investigation and validation of regulatory documentation and master agreements, prior to onboarding.
Specifically, this involves understanding of US based regulations related to Dodd Frank, Qualified Financial Contracts Stay, LIBOR, (Segregation of Initial Margin Amount) SEG IA and other FINRA based regulations impacting account onboarding.
Responsibilities will include managing, overseeing, driving, and coordinating the Client Onboarding effort within the broader Corporate & Investment Banking organization.
The management of Client Onboarding will include creating a strategic plan to enhance our Institutional Client Onboarding workflows and integrate the process with available vendors.
Key Responsibilities:
Individual functional responsibilities will include:
Understanding core Bank Secrecy Act ("BSA"), & WFS Anti-Money Laundering ("AML") program, & incorporating best practices
Reviewing and validating customer information to ensure adherence to Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements
Providing AML guidance and escalation to LOB stakeholders for complex accounts and relationships
Working with onshore Client Data teams to effectively manage an onboarding request
Ensure and Adhere to the Regulatory Reporting standards, policies, and procedures (e.g., Dodd Frank, FINRA regulations, QFC Stay, Segregation of Initial Margin Amount (SEG IA)
Independently research and analyze regulatory reporting requirements and other financial documents
Coordinating and managing day-to-day evaluation of AML risks throughout customer lifecycle process.
Conducting employee performance evaluations and ongoing feedback
Driving consistency of AML operational practices and procedures
Managing and mitigating risks associated to Client Due Diligence processes and teams
Coordinating with external and internal auditors
Updating procedures related to Bank Secrecy Act ("BSA"), & WFS Anti-Money Laundering ("AML") program
Documenting process improvements and creating / managing action plans
Leading change initiatives which promote overall process efficiency and effectiveness, including changes to operating processes, procedures, and systems
Supporting the implementation and monitoring of a risk-based compliance program to assure compliance with federal, state, legal, and regulatory requirements
Participating in projects and initiatives to identify, assess, and mitigate BSA/AML risk in business activities
Required Qualifications:
MBA or an advanced degree (or equivalent experience)
15 + years of capital markets industry with a top tier bank and/ or project management experience is preferable
Candidate should possess superior verbal and written communication skills, accountability, and attention to detail
Candidate should be able to work effectively in a demanding, fast-paced, dynamic environment, handling multiple tasks and projects concurrently, while maintaining quality, accuracy, and integrity
Candidate should be able to work in a global team, interact at different levels and handle a wide range of deliverables with varying levels of complexities
Candidate should be highly organized, comprehend complex problems, meet deadlines and have good presentation skills
Preferred Skillsets:
Extensive knowledge and understanding of all capital markets products, industry trends, regulatory changes, and industry-wide best practices
Leadership skills including the ability to lead projects/initiatives with high risk and complexity
Minimum of 5+ years of experience in operational risk management processes and/or compliance and/or audit programs (preferably in Know Your Customer /Anti Money Laundering)
Familiarity with requirements of BSA / AML programs, including all aspects of Customer Identification Program /Client Due Diligence /Enhanced Due Diligence
Strong knowledge of the US banking regulatory reporting rules and regulations (FINRA, Qualified Financial Contracts, Dodd Frank and Segregation of Initial Margin Amount (SEG IA)
Clear communication of regulatory reporting requirements to the business units
Independently research and analyze regulatory reporting requirements and other financial documents
Experience identifying and driving process improvements in complex, institutional banking environment.
Experience with managing a team of individuals conducting job evaluations, providing ongoing feedback, and outlining goals and responsibilities for job performance
Understanding of key operational risk components, including experience driving consistency and quality across all aspects of a risk function.
Ability to understand and work with data, including creating alignment among various data sources, developing trends, and creating risk-based analytics from multiple information sources.
Strong communication, negotiation, and collaboration skills, including the ability to negotiate with numerous parties and reach agreeable solutions.Proven ability and experience in being able to look at the big picture across a risk program and implement successful strategy and solutions.
Strong organizational skills, attention to detail, and adherence to strict deadlines in a fast-paced environment.Ability to effectively multi-task and successfully work on several unrelated projects at the same time.
Ability to synthesize data from a variety of sources and deliver results quickly.
Knowledge of Wells Fargo's corporate organizational structure and processes.
Institutional securities sales and trading and/or investment banking compliance and risk management experience
Experience working with/or managing global Due Diligence Operations teams
Posting End Date:
12 Jun 2024
*Job posting may come down early due to volume of applicants.
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, status as a protected veteran, or any other legally protected characteristic.
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.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
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