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Operational Accounting Associate

  • Finance & Accounting
  • Full time
  • R-372790

About this role:

Wells Fargo is seeking candidate responsible for providing reconcilement support to all the Lines of business groups within Commercial Banking Operations across APAC, EMEA, USA & Canada. The reconciliation includes Detailed Nostro/GL; Subsystem; Cash Substantiation; Portfolio Recon; FX Position; Supplemental (Multiple System Data comparison) and SWIFT Messages/Payments. Team Members will closely work with multiple departments/stakeholders (Finance, Cash, Operations, Static Data, Production Support, Technology, etc.) across globe to identify efficiencies and establish the necessary key controls to capture all risk related items specific to Commercial Banking Operations.

In this role, you will:

  • Perform complex, operational accounting activities associated with maintaining ledger, customer accounts and developing reports.
  • Provide operational accounting support for internal business groups or operations departments.
  • Review data from the general ledger, unit reports and various systems to ensure accuracy.
  • Recommend, implement, and communicate best practices and procedures for operational or financial control.
  • Provide in-depth business review and develop long term strategies to optimize group or company performance.
  • Manage implementation of complex operational accounting projects that have critical impact on the group or company.
  • Gather and review operational or financial data for regulatory reports.
  • Prepare and review account reconciliations and certifications.
  • Review operational accounting procedures, methods, or systems.
  • Identify and resolve complex or unique issues.
  • Review accuracy of data from the general ledger, unit reports and various systems.
  • Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.

Required Qualifications:

  • 5 to 7 years of overall experience in banking industry required.
  • Bachelor's degree in commerce or master's in business administration with finance stream.
  • Knowledge of Corporate 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.
  • 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).

Required Qualifications for Europe, Middle East & Africa only:

  • 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 will be an added value.

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 etc.) 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

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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