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Senior Securities Operations Representative

  • Operations
  • Full time
  • R-225046

Wells Fargo India solutions enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Operations, 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

Wealth & Investment Management (WIM) is one of the nation’s leading providers of financial and investment services in the United States offering a full range of products and services to meet clients’ unique needs and help them achieve financial goals. It consists of six different lines of business, one of which is Wells Fargo Advisors group. Within WFA, this requirement is with Brokerage Operations.  

About the Role

Wells Fargo Brokerage Ops is seeking for a candidate to perform various back office functions, which involves Credit Monitoring & Reporting and Priority Credit Line (PCL) Operations. This candidate will be primarily responsible for executing the production work with minimal supervision. Process deals with stringent cutoffs and tight deadlines on a daily basis so the candidate should possess the sense of urgency and willing to go beyond the expectations. 

Primary Responsibilities;

Is responsible for performing a variety of operational tasks for highly complex securities or cash related transactions or processes that require good knowledge of unit functions and systems. Duties may include:

  • Priority Credit Line (PCL) is a securities-based lending product clients can use for personal or business needs
  • Responsible for reviewing documentation is in good order for establishing new PCL relationships, modifying existing PCL relationships, and trust conversions related to existing PCL relationship.
  • Team is also responsible for booking documents and updating account registrations. This also entails processing of PCL payoff letters.
  • Review disbursements from PCL loans according to specific procedures to ensure that the usage of loan proceeds complies with regulatory requirements and collateral functions
  • Review banking activity for which there are insufficient funds in the account to cover and work with the business channel for resolution and payment/rejection.
  • Monitoring for compliance with regulatory and/or internal policy requirements, and following up on situations ( margin calls) where the existing collateral is insufficient to meet either internal policy or regulatory requirements
  • Involves communicating and coordinating with the appropriate business channel to understand how the debit will be covered and, if needed, writing off the debit to the business channel if not covered within the defined time frames
  • Responsible for managing the account titling/pledging, any related collateral releases while pledged, and removing the pledge when instructed.
  • Activities also includes Monitoring Accounts for Margin Agreements, Executing Preferred Interest Rates, Facilitate Employee Stock Option Plan Transactions, Account Restriction Management, Monitoring Day Trade Activity and Bulk Asset Movements
  • Performs a variety of operational tasks which high complex in nature.
  • To be able to escalate any discrepancies/issues to the supervisors in a timely fashion.
  • Good understanding of market participants like custodian, clearinghouse, brokers, Investment Managers, exchange etc.
  • Good Understanding of Credit Margin and Priority Credit Line

Essential Qualifications:

  • 4-6 years of Securities/Custody/Investment banking experience, preferably on Credit Margin and Priority Credit Line of Business.
  • Understands the functionalities of US capital markets and various products like stock/equity, mutual fund, bonds etc.
  • Detail-oriented with very good problem solving abilities
  • Performs a variety of operational tasks for moderately to complex level
  • Commerce Graduate with CA/CFA/ICW/M.com /MBA preferably in Finance vertical

Desired Qualification:

  • Good problem solving and analytical skills and numerical skills
  • Desirable to have experience of interacting with US customers.

Working Hours: 6:30pm to 3:30am

Work location: Bangalore-India              

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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