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Buy In Specialist

  • Operations
  • Full time
  • R-372531

About this role:

Wells Fargo is seeking a Buy-In Specialist as part of Corporate and Investment Banking (CIB) Operations.


In this role, you will:

  • Monitor regulatory buy-in processes and action accordingly (204, Reg-T, MSRB)
  • Leverage buy-in processes to reduce fail obligations and firm risk (seg deficits)
  • Monitor CNS obligations and liabilities and liaise with Securities Lending to remediate short positions and fails to receive
  • Monitor Smart/TRACK system for buy-in notices from counterparties
  • Liaise with counterparties to remediate open buy-in obligations
  • Provide coverage for international buy-in obligations
  • Maintain firm policies and procedures relative to street buy-in practices
  • Manage client account onboarding, cash payments, customer service, funding operations, custodial operations, securities settlement services, structured loan operations, general ledger reconciliation, as well as, work to resolve confirmation and ISDA related issues
  • Lead or participate in moderately complex initiatives and deliverables
  • Contribute to large scale planning related to process, procedures and efficiencies with internal and industry related initiatives
  • Identify and recommend opportunities for process improvement and risk control development
  • Provide leadership to bring groups together to resolve multi-faceted complex issues
  • Serve as a leader on projects along with internal and industry related initiatives
  • Review and analyze complex functional and operational tasks that require in-depth evaluation
  • Exercise independent judgment and resolution to guide the deliverable
  • Resolve moderately complex issues
  • Lead team to meet functional area projects, and process deliverables
  • Leverage solid understanding of functions, policies, procedures and compliance requirements
  • Mentor and assist analysts
  • Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals


Required Qualifications, US:

  • 4+ years of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education


Desired Qualifications:

  • BS/BA degree in Finance or related field.
  • 3+ years of experience in the securities industry with emphasis on buy-in and international trade settlement
  • Detail oriented with effective organizational skills
  • Proficiency in Microsoft Excel is required for analytical purposes (e.g., pivot tables, vlookups, sumifs, etc.).
  • Basic knowledge of Microsoft PowerPoint is required to support the group’s presentations to senior management.
  • Strong written and oral communication skills.
  • Expert knowledge of DTCC Smart/TRACK system, OW, Settlement Web and FINRA
  • Expert knowledge of buy-in rules for domestic markets including DTC, Fed and physical clearance
  • Working knowledge of buy-in rules for international markets including Euroclear, Clearstream, Crest and various local markets
  • Working knowledge of Broadridge systems including GLOSS, Impact and BPS
  • Working knowledge of Prime Broker operations


Job Expectations:

  • Monday - Friday – multiple shifts between 6:00am and 6:00pm

  • This position offers a hybrid work schedule in the location listed below.

  • Relocation assistance is not available for this position.

  • Visa Sponsorship not available for this position

Preferred Location:

  • 550 S. Tryon Street, - Charlotte, NC, 28282

Corporate & Investment Banking (“CIB”) delivers a comprehensive suite of capital markets, banking, and financial products and services. As a trusted partner to our clients, we provide corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe.

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.

Posting End Date: 

30 Jun 2024

*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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