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Team leader – Regulatory Operations Middle Office team - FTC

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Job ID 68684BR

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 20 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.

Market Job Description



Market Job Description

The role owns full oversight of requirements changes, ensuring WFBI is complaint with the ever evolving requirements on an ongoing basis. The role will initially require oversight of the work of a group of two team members, reporting to the Middle office team manager.

Responsibilities:

  • Responsible for day to day oversight of all BAU aspects of EMIR Reporting (Daily principal trade reporting, Valuations reporting, Daily Reconciliations, Risk mitigation, Trade Confirmation) for all derivative products booked by the WFBI Front Office. (FX Forward, Swap, IRS, XCCY Swap)
  • Plan and implement all change management elements of EMIR including oversight or RTS.
  • Ensure all other Operational requirements in relation to the EMIR regulation are delivered (including but not limited to timely confirmation, portfolio recon & compression, mark to model simulation etc.).
  • Responsible for day today oversight of all BAU Operational aspects of SFTR (Daily transaction reporting and lifecycle event reporting, Collateral and Collateral Reuse reports, Daily reconciliations, Risk mitigation) for all Repo and reverse repo trades executed by WFBI front office.
  • Responsible for all other SFTR operational requirements & assist with interim tactical reporting solution.
  • Plan and implement all change management elements of SFTR (testing, reviewing, and approving new field requirements), including oversight of day two deliverables & any phase II 2021.
  • Partner with Transaction Reporting SMEs to perform Root Cause Analysis on identified Regulatory Reporting issues.
  • Undertake gap analysis between current reporting standards and rule interpretation.
  • Engage and assist with coordinating technology release cycles.
  • Manage change requests to address errors identified via BAU processes or diagnostic checks.
  • Manage UAT testing cycles and post implementation validation checks for associated technology releases.
  • Liaise with Operations, Compliance, Operational Risk and Technology Senior Stakeholders, representing the group on various working groups & also chairing WFBI TR forum sessions.
  • Deliver Management information and metrics regarding in scope transaction reporting.
  • Develop integrated plans to establish, monitor, manage and report status on key milestones and deliverables for changes to business flow and regulatory change.
  • Co-ordinate & oversee Back-Reporting or Back-loading efforts as required.
  • Provide leadership and coaching to the team to build their knowledge, understanding and experience.

Skills/Experience Required:

  • Knowledge of transaction reporting processes, including EMIR and SFTR requirements.
  • Proven track record of process improvements and implementation.
  • Experience leading a specialized team, training, delegating, motivating & providing clear direction for team members. People management experience in a team leader role.
  • Ability to challenge Operations & Technical teams globally to obtain required data and implementation assistance.
  • Will be expected to form strong collaborative working relationships.
  • Strong communication and organizational skills – to work with and provide status updates to local and remote Operations, Compliance & Technology stakeholders.
  • High level of accuracy, and ability to work to deadlines.
  • Be proficient in use of Excel (including VBA), PowerPoint, Word, and Visio.
  • Change management/project management related qualifications/experience ideally.
  • Proven track record in regulatory change space.
  • Product knowledge in Derivatives & Fixed Income. Middle Office experience an advantage.
  • Ability to read, understand and interpret regulatory guidance.
  • Ability to escalate appropriately, make informed assessments of issues and suggest corrective actions.
  • The candidate should possess outstanding problem solving skills, a high focus on attention to detail, be deadline orientated and be productive under pressure.


We Value Diversity


At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

Team members 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.
68684
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