Operational Accounting Associate

2 weeks ago

Bengaluru Karnataka, India Wells Fargo Full time

**About this role**:
**In this role, you will**:

- Perform operational accounting activities related to account reconcilement and maintenance
- Provide operational accounting support to internal business groups or operations departments to ensure that accounts are being managed within the account policy requirements
- Prepare and review account reconciliations and certifications
- Perform customer account maintenance duties
- Evaluate the operational accounting transactions and maintenance of operational accounting controls
- Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals.

**Required Qualifications**:

- 4 to 6 years of overall experience in banking industry required.
- Bachelor's degree in commerce or master's in business administration with finance stream.
- Knowledge of Corporations Accounting and Controls standards and policies Broad Banking/Financial services experience.
- Experience in performing various reconcilements such as Cash/Nostros, Suspense and Subsystem.
- Proven understanding of accounting fundamentals as it relates to Nostros/Cash, Suspense and Subsystem reconcilements.
- Ability to prioritize work, meet deadlines, achieve goals and work under pressure in a dynamic and complex environment.
- Detail oriented, results driven, and has the ability to navigate in a quickly changing and high demand environment while balancing multiple priorities.
- Ability to research and report on a variety of issues using problem solving skills.
- Proven ability/proficiency with the use. of various types of automation.
- Proven knowledge of IRIS Web/Oracle GL processing.
- Ability to work both independently as well as within a team environment.
- Proven knowledge of IRIS Web/Oracle GL processing.
- Thorough knowledge on Nostro/Vostro, Foreign Exchange, SWIFT
- Effective oral and written communication skills.
- Open to any shifts (as applicable for APAC, EMEA, USA & Canada).
- Experience in Operational Accounting, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.

**Desired Qualifications**:

- BCom or MBA (Finance).
- International Banking Operations Experience.
- Demonstrated understanding of the Corporate and Accounting Policy.
- Proven Basic or intermediate Microsoft Excel, Word, and Power Point skills.
- Proven Basic Excel VBA/Macro Skill.

**Job Expectations**:

- Perform daily detailed reconciliation for a variety of Commercial Banking business products like Nostro/Vostro, Payments Services, Trade Finance, Foreign Exchange, CDF, CRE, Treasury etc.
- Perform an end of day balance reconciliation between the "Subsystem (i.e., AIMS, InfoLease, LeaseConnect, Choice, Lucas) and General Ledger".
- Ensure the daily market fluctuation of a foreign asset/cash accurately recorded within the corporate GL, in US Dollars (Cash Substantiation).
- Review currency exposure or foreign exchange (FX) risk on the position level and report the valuation results on a regular basis (daily or monthly) based on an internationally accepted accounting principle.
- Investigate and escalate outstanding items as per accounting standard policy and OOB conditions on timely manner.
- Bank DDA to GL reconciliations.
- Reconciliation Open item resolution.
- Month-end closing & reporting including journal vouchers.
- Review and Approve documentation for aged items that exceed corporate standard.
- Monitor and validate daily/monthly reports received and loaded to the system to ensure accuracy in reconcilement and to avoid business impact.
- Assist with Books and Records month end close for the reconciliation includes detailed Nostro/GL; Subsystem; Cash Substantiation; FX Position; Supplemental (Multiple System Data comparison); Balance Sheet/P&L Certification.
- Assist with Audit and Operations inquiries and will keep the manager aware of any concerns or special requirements.
- Follow up on inquiries submitted by various lines of business for resolution or escalation.
- Analyze multiple system source data and provide the EOD report to Commercial Banking Operations department internal customer timely manner.
- Work closely with Oversight, Technology and Production Support team to resolve the issues/breaks.

**Posting End Date**:
**Job posting may come down early due to volume of applicants.**

**We Value Diversity**

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 makin

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