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Vice President for Account Opening and Maintenance

  • Operations
  • Full time
  • R-218508

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet ( and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy.  With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Wells Fargo India and Philippines

Wells Fargo India and Philippines 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. Wells Fargo operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about Wells Fargo India and Philippines at our International Careers website.

Department Overview

Wealth and Investment Management (WIM) businesses build enduring client relationships through sound, thoughtful and objective advice. We help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, and both individual and institutional retirement

About the Role

Wells Fargo Brokerage Ops is seeking for a leader to provide oversight for various back office & middle office functions, which involves Account Opening and maintenance, Asset movement, Trade processing, Settlements, Asset Servicing, Reconciliation, Income processing etc. This leader will be primarily responsible for ensuring smooth execution of the production work across functions based on the necessity with minimal supervision, reporting directly to the head of WIM Client Operations in Manila. The leader will manage teams performing operational capabilities required to support the business, execute the next generation of operations by collaborating with the management team to develop and implement plans for the operational infrastructure of systems, processes and personnel.

The leader will manage the Account Opening and Maintenance team along with cash processing teams in Manila ,  he/she will be responsible for ensuring seasonal volume uptick across functions are managed seamlessly,  He/she should also have the ability to adapt quickly and shift strategies to meet different types of challenges/ demands.

Primary Responsibilities

The incumbent should have over 12-15 years of experience with Financial Services industry with a strong ability to:

  • Solid understanding of Account opening and maintenance, risk associated with the flow. Should have sound understanding of cash movement processes.
  • Provide leadership to all aligned teams to improve processes, implement controls, manage resources, and execute on the WIM Operations strategic plan
  • Collaborate with senior leaders and provide input to establish the strategic direction for business initiatives.
  • Ensure operational policies and procedures comply with regulatory compliance for all aligned capabilities.
  • Recruit, develop, and retain top talent.
  • Contribute to the long term vision and series of key client, team member, operational, risk, cultural, and financial outcomes to be achieved with transformation.
  • Contribute to the development and evolution of a multi-year transformation roadmap.
  • Develop and execute effective change strategies and plans in collaboration with COEs, Operations leadership, Ops Tech leadership, and other key partners to ensure adoption, high team ember engagement, and achieve desired outcomes.
  • Develop and execute processes and tools to hold individuals and teams accountable for progress.
  • Contribute to the development of digital strategies to improve the client experience and make the business more efficient and effective.
  • Ensure all compliance and regulatory requirements are implemented, and SLAs to all partners and stakeholders are met.
  • Participate in the review of end-to-end business processes to determine where we can simplify and create more efficiencies.
  • Implement a continuous improvement program to ensure processes and procedures remain current and appropriate.
  • Benchmark with other operational teams and leverage industry best practices regarding tools and processes where possible and appropriate.
  • Develop and execute measurement strategies in partnership with finance and others to measure progress and the ultimate impact of initiatives; ensure alignment with stated goals and commitments, and facilitate remediation plans if needed to deliver on commitments.
  • Develop and leverage data-based insights to manage teams and drive continuous improvement.

General Requirements

Essential Qualifications

  • Leading Operations for a large, complex LOB and/or multiple LOBs
  • Build and lead a team of approximately 50+ across a LOB or LOBs. This span is based on the complexity of the process.                                               
  • Build and lead a team to deliver quality and cost effective off-shoring solutions to the US managers
  • Manage the LOB’s budgets, revenues and expenses                                              
  • Engage and manage stakeholder relationships and provide solutions when needed     
  • Engage the partners (counterparts in the US) to plan, assign and manage the delivery of work
  • Operational Excellence: focus on driving continuous improvement                                    
  • Risk Management: proactively identify risks and build robust internal controls               
  • Develop and maintain a flexible and skilled resource base for provision of the service collaborating   with colleagues for efficient resource management                              
  • Create opportunities for growth, both horizontal and vertical.                                            
  • Use Rewards and Recognition to motivate staff and encourage performance.               
  • Improve Staff Engagement and manage attrition.
  • Should be willing to work in night shift     

Secondary (what s/he does 20% of the time)

  • Review and drive improvements in policies, practices and procedures on an ongoing basis with the view to creating an environment of constant improvement 
  • Establishment of service performance measures tied to business outcomes   
  • Evaluate impact, implement and measure improvements in standards achieved. 
  • Build up and maintain a sound knowledge of industry practices and procedures and examine value to the current internal environment             
  • Ensure no surprises, and active risk management                                    
  • Undertake management of cross-departmental projects, collaborating with other group to achieve WF and WFIS wide objectives in India and in the US                                         
  • Align operating processes with respective LOB’s in WF.  Establish proper operating metrics, and effect continuous improvement
  • Create visibility of India operations through reporting / metrics for India Management               

Desired Qualifications

  • Expertise in Wealth Management or Financial Services Industry business and operational capabilities.
  • Demonstrated ability leading a major function or large geographic segment of a financial services organization                                  
  • Demonstrated ability to interact with effectively with a variety of contacts, primarily senior management            
  • Solid budget forecasting and risk management skills                                              
  • Demonstrated ability to manage through middle and upper level managers                    
  • Demonstrated ability to contribute to companywide strategy and to use strategy to drive results           
  • Demonstrates a high degree of reliability, integrity, and trustworthiness in all areas
  • A seasoned, relationship-driven executive who will have the style and sensitivity to work within a highly complex business environment.  Multi-cultural sensitivity a must.                                        
  • Exhibits excellent problem solving and analytical skills                                           
  • Good understanding of Six Sigma, Lean, etc. and a track record of continuous improvement through usage of the above quality tools. Experienced in process improvement and quality frameworks       
  • Excellent soft skills - communication skills and ability to influence at senior levels         
  • Demonstrate expertise in project management, stakeholder engagement, people leadership, delivery of quality work products
  • Ability to articulate issues, risks, and proposed solutions to various levels of staff and management
  • Ability to make timely and independent judgment decisions while working in a fast-paced and results-driven environment
  • Ability to negotiate and facilitate issue resolution
  • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
  • Preferably with a FINRA Series 7/24/99 but it is not required
  • Required to have higher level degree in Business, Accounting, or Finance (highest level related to B.Com, M.Com, MBA or CA)
  • Must be amenable to work during graveyard hours

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, age, 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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