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Derivatives Securitization , Accounting & Reporting Manager

  • Finance & Accounting
  • Full time
  • R-147460

Financial Accounting Manager – Derivative Securitizati Accounting & Reporting (Derivative Center of Excellence)

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 Enterprise Global Services
Enterprise Global Services (EGS) enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. EGS operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about EGS at our International Careers website .

Department Overview

Enterprise Finance drives financial management for the company, maintains, and enhances risk and financial controls. Key functions within Enterprise Finance include finance and accounting; Treasury; corporate development, mergers, and acquisitions; Data Management and Insights, the Customer Remediation Center of Excellence, Enterprise Shared Services, Business Process Management, and Corporate Strategy. Enterprise Finance informs shareholders, regulators, taxing authorities, team members, and leaders of the company’s financial performance through earnings releases, investor meetings and conferences, and meetings with regulators and credit rating agencies, following appropriate reporting guidelines. The Enterprise Finance function contains the Corporate Controllers division, which includes the Enterprise Controls & Oversight (ECO) group. The Controller’s Division is responsible for the accuracy of the Company’s financial statements, establishing corporate accounting policies, preparing SEC and regulatory reports and ensuring the adequacy of internal controls.

About the Team/Role

The Derivatives Accounting & Reporting Team is responsible for complex accounting processes related to derivatives such as:

  • balance sheet netting
  • classification and presentation of derivatives on the balance sheet for consolidated companies and individual legal entities
  • elimination entries between affiliates, and
  • calculation of certain notional balances on derivative contracts

In order to perform these accounting processes, the team compiles derivatives and foreign-denominated asset and liability data from several sources and reconciles this data to ensure that is complete and accurate using a combination of manual and automated procedures. The team then applies the technical accounting requirements to this data and uses the accounting records to prepare certain regulatory filings on a timely and accurate basis. This work effort requires derivative and foreign denominated financial instrument product knowledge, as well as an understanding of the technical accounting requirements related to derivatives and foreign denominated financial instruments. There must be a demonstrated ability to research and evaluate how these transactions are accounted for in systems of record, complemented by the ability to design operational accounting processes that address data integrity and produce high quality accounting data. In addition, the team must also compose business requirements documents that prescribe the technology requirements required to implement production enhancements that reduce the level of manual intervention in the accounting and reporting processes. 

The role involves close work with specialists in other accounting operations groups, enterprise risk, and enterprise technology. The ability to build and maintain relationships and communicate effectively is an asset. This individual must be able to manage multiple deliverables simultaneously and will act as the primary contact for various initiatives and projects as they arise.

Required qualifications

  • 12+ years of experience in one or a combination of the following: finance, accounting, analytics, financial reporting, accounting reporting or risk reporting; 2+ years of management experience

Desired qualifications

  • MBA (Finance) or CFA or CPA or CA
  • 2+ years of Big 4 public accounting experience
  • Knowledge and understanding of financial products: fixed income securities, derivatives and foreign exchange
  • 2+ years of experience in SEC and regulatory reporting (FR Y-9C, FFIEC 009, FFIEC 031/041, FR Y-15, FR2436, TIC reports, FR-Y2900, FFIEC 030)
  • Ability to manage effectively in a matrixed organization
  • SQL experience
  • Ability to incorporate multiple data sources and develop strategies/operational processes (Calypso, GMI, Endur, Broadridge, Wall Street, CFMA-LIMBE, OPICS, FACS, Midas Plus, Hogan, CoRS)
  • Advanced Microsoft Office (Word, Excel, Outlook, and Access) skills
  • Excellent verbal, written, and interpersonal communication skills
  • Ability to strategically analyze data and diagnose opportunities and interventions
  • Ability to execute in a fast paced, high demand, environment while balancing multiple priorities
  • Superior project management skills including the ability to handle multiple projects concurrently
  • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
  • Microsoft Visio experience

Other desired qualifications

  • Experience in consolidation accounting, balance sheet netting, foreign currency accounting and general accounting for derivative contracts
  • Ability to re-engineer accounting and reporting processes to gain efficiencies and to enhance controls
  • Ability to define, implement, and manage best practice processes that support sound data management operations (i.e. testing, data analysis, metadata, reconciliation)
  • Knowledge and understanding of analytical methods used to: plan, conduct, and direct the analysis of complex business problems
  • Alteryx, Power BI, Tableau, Axiom

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, or status as a protected veteran.

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.


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