Institutional Investment Operations Associate
4 weeks ago
- About Wells Fargo - Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique
skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
About Wells Fargo India & Philippines- Wells Fargo India & Philippines (WFI&P) enables global talent capabilities for Wells Fargo & Company, by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFI&P operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about WFI&P at our International Careers website.
Department Overview- Corporate and Investment Banking (CIB) Securities Shared Services Operations is a cross-functional group of teams that provide support for CIB-Markets and the broader Wells Fargo organization. Shared Services are the owners and stewards of both client and reference data with a focus on operational excellence and superior client service. The Shared Services Client Data & Onboarding team is focused on data and documentation gathering that is necessary to onboard new clients, maintain client accounts and support the client throughout the lifecycle of the relationship. The team interacts with all departments within Capital Market Sales as well as Compliance, Settlement Operations, AML/KYC, Middle Office and Credit.
Process Overview- The Client Onboarding process covers the end-to-end document collection and validation, client data strategy, data connectivity, configuration, data integrity and reporting. We act as stewards over the onboarding process playing a critical role throughout the lifecycle of the onboarding of the clients. In addition, the team provides strategic direction across the onboarding space that focuses on enhancing existing processes while mitigating risk and leveraging vendor solutions, where applicable.
Our teams work closely across the firm to develop and deliver new products and services, while mitigating operational risk and enhancing the client experience. We drive process and technology change to scale and automate our businesses. To summarize, for every new product launched and every trade executed, it is Operations that develops and manages the processes and controls that enable business flow.
About the Role-
This role will also co-ordinate with the front office directly. The role will be the central point of contact across operational and front office teams to complete and report on various stages of the onboarding process. The Facilitator will gather evidence of customer profile via documentary or non-documentary means utilizing both in-house and external sources. They will initiate the Client Onboarding process by entering data into the client onboarding system and share documents with internal teams such as the Documentation, AML and Credit teams. The facilitator will track progress and provide status of onboarding request to the request initiator.
In this role , you will:
- Provide operational and customer support for lifecycle tasks for institutional trades
- Assist with client account onboarding, input and monitoring of cash payments, customer service, funding operations, custodial operations, securities settlement services, asset servicing structured loan operations, general ledger reconciliation and work to resolve confirmation and ISDA related issues
- Assist in gathering data to support resolution of issues
- Receive direction from manager and exercise judgment within defined parameters of the area while developing understanding of various functions, policies and procedures
- Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals.
- Work has a case operator, to submit requests to internal client onboarding teams.
- Understand and implement client's requirement by liaising with internal and external counterparties to ensure seamless transition and onboarding.
- Coordinate and manage tasks across a multi-disciplined team to ensure all operational information relating to an account event is received and systems are set up prior to account trading activity.
- Providing effective thought leadership in navigating evolving industry trends, client needs, business growth, financial regulatory landscape and helping to develop solutions to build appropriate architecture.
- Complete BAU responsibilities and identify process enhancement opportunities.
- Request management and delegation to downstream partners.
- Support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture.
- Working cohesively with U.S. Client Facilitation teams to effectively manage and process client data requests.
- Develop strong working relationships with Sales, Trading Desks, Collateral, Client Accounts, CDD, and other onboarding teams.
- Ensure and Adhere to the Regulatory Reporting standards, policies and procedures.
- Become a risk manager by ensuring data integrity and challenging where required.
- Engage in opportunities to review processes, analyze information, make decisions and recommendations and implement and monitor procedures.
- Independently research and analyze regulatory reporting requirements and other financial documents.
- Provide reporting to senior leadership and produce insightful analyses of the business upon request for management.
6+ months of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications-
• Bachelor's degree in Accounting, Finance, or a business-related field is strongly preferred
• Previous experience in Operations and/or Financial Services industry
• Relevant work experience of 5+ years in one or a combination of the following: middle office, collateral, documentation, client onboarding, project management, business operations, strategic planning in financial services, regulatory oversight, AML/KYC, US tax regime & compliance and SSI setup
• Excellent communication skills both written and verbal
• Knowledge and understanding of Excel, PowerPoint, Word and adaptability to other software products
• Ability to research, compile, and perform complex analysis on critical operational data
• Be highly collaborative and team-oriented
• Demonstrate strong analytical and interpersonal skills
• Ability to work with impacted areas to understand complex problems
• Ability to work in a fast-paced, team oriented environment
• Strong multi-tasking abilities in a high performance, high demand environment
• Ability to think strategically, drive consensus and influence decision making
Job Expectations:-
• Previous experience of 5 + years in a similar on-boarding team or any one or more Client Onboarding process i.e., KYC / CDD > Credits > Legal > Regulatory Due Diligence > Documentation > Account opening / Maintenance
• Strong Knowledge of the banking regulatory reporting rules and regulations including FINRA, Qualified Financial Contracts and Dodd Frank regulations
• Understanding of client onboarding documentation, including working knowledge of requirements driving KYC/CDD/EDD, AML, Tax, regulatory & ISDA documentation
• Ability to independently research and analyze regulatory reporting requirements and other financial documents
• Extensive knowledge and understanding of loan, securities and derivative products
• Advanced knowledge of trade processing life-cycle
• Advanced knowledge of the Microsoft applications including Excel, Access Database and Tableau
• Excellent teamwork skills
• Familiar with market utility vendors such as Markit and OMGEO to collect and analyze client onboarding documents and requirements
• Strong Analytic ability, with high attention to detail, accuracy and strong problem solving skills
• Ability to communicate (written/verbal) effectively at all organizational levels
• Excellent Interpersonal skills - ability to build relationships
• Ability to plan and organize workload within tight deadlines, meeting day-to-day objectives as well as longer term strategic goals
• Perform analysis of, and make recommendations on functionality/efficiency of established controls and processes to ensure appropriate risk based operational procedures are in place and are meeting regulatory requirements/expectation
Posting End Date:
*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. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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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