Middle Office Team LeaderJob ID 45709BR
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading global financial services company with $2.0 trillion in assets and offices in over 37 countries. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides asset management, capital raising and advisory, financing, foreign exchange, payments, risk management, and trade finance services to support customers who conduct business in the global economy. At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We also value the viewpoints of our team members and encourage them to be their best. 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. Learn more at our International Careers website.
Market Job Description
Responsible for overseeing the most complex US securities or over-the-counter (OTC) derivative transactions. As the area's technical expert, resolves escalated issues. Provides feedback and recommendations to improve processes, mitigate risk, develop policies and enhance customer satisfaction. Provides technical support through research and utilization of company resources. Requires expert knowledge of financial products (securities and/or OTC derivatives); familiarity with equity, commodity and/or fixed income markets; understanding of trade settlement workflow controls and the effects of operational breakdowns; and a strong understanding of the full front-to-back process within a trading environment. Completes special projects as assigned. Provides training and guidance to junior level staff and may act as a back-up to the manager.
The Middle Office team provides full trade support to all Front Office lines of business. They work closely with Treasury, Risk and Finance, Regulatory Reporting and various departments in the US Offices as well as the Operations teams on a daily basis.
(Note: In addition to these functions employees are required to carry out such other duties as may reasonably be required)
- Significant level of experience in Middle Office with an excellent understanding of the Treasury Business and core banking products.
- Manage and oversee the day-to-day workflow for the Middle Office Team to include: trade confirmation; system trade verification for MM instruments, FX and IRS; trade support of structured Repo/Reverse Repo trades; and daily cash position keeping.
- Strong knowledge of transaction reporting including EMIR and SFTR requirements.
- Ensure that appropriate monitoring of service level agreements with outsourcing providers is carried out and that key targets are achieved, issues are logged and escalated when required.
- Drive a culture of continuous process improvement throughout the Middle Office team and the operations group generally.
- Demonstrate ability in time management to ensure priorities are being delivered.
- Demonstrate a calmness and ability to react in a positive manner to sudden changes in busy workflow priorities.
- Take the Lead role in projects related to the middle office team.
- Strong understanding of building tightly controlled processes ensuring Operational risk is always considered & mitigated.
Market Skills and Certifications
- A strong academic background with proven experience in similar roles within Middle Office departments of Financial Institutions.
- An SME of core banking products (Derivatives, Bonds, Repos, FX, MM Instruments, securities and standard Treasury funding products).
- Comprehensive understanding of accounting entries (both systematic and manual) for all Treasury related products.
- Initiate and lead efforts in support of the product pipeline relating to Treasury initiatives, securities/derivatives businesses & other relevant Lines of Business.
- Advanced knowledge of Microsoft Excel, as well as being extremely systems orientated in general – SQL an advantage.
- Analytical with strong verbal, presentation and written communication skills.
- Experience in trade booking systems including Calypso, Flexcube, Aladdin, Simcorp, Opics, ITFT as well as general financial services systems including SWIFT & Bloomberg would be beneficial.
- Outstanding problem solving skills, be deadline oriented and be productive under pressure.
- Ability to think creatively and strategically.
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.