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Technical & Research Cons 4 - Fiduciary and Regulatory Consultant

Job ID 5291961 Schedule Type Reg-Time Work Hours 40 Location Minneapolis, Minnesota
Job Description

Let’s talk about building a rewarding career

You’ve got the passion. You’ve got the skills. Now you just need the right opportunity. At Wells Fargo, you’ll have the chance to join a team of intelligent and talented people who share the same values. Our diverse lines of business offer a world of opportunity to expand your capabilities and advance your career. We invest in our people and provide a supportive environment in which to learn and grow.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1.7 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, more than 12,500 ATMs, online (, and mobile devices. Wells Fargo has more than 265,000 team members in 36 countries across our approximately 90 businesses. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

Wealth and Investment Management (WIM) is one of the company’s four main divisions. WIM businesses build enduring client relationships through sound, thoughtful and objective advice. We help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, insurance and both individual and institutional retirement.

Retirement: Wells Fargo Retirement is a top retirement provider to institutional customers across the U.S. Wells Fargo ranks second in annuity distribution, sixth in IRA assets and eighth in retirement recordkeeping. The company also administers custody assets, provides investments and executive benefits to institutional clients.

The Fiduciary and Regulatory Support group is a collection of retirement professionals that provide substantive technical advice and consultation regarding fiduciary, regulatory and operational matters pertaining to various retirement plans serviced by Institutional Retirement and Trust (“IRT”). This role serves as part of the Client Support and Consulting- Midwest and Intermediary Centric group and will provide overall fiduciary and ERISA support and consulting to IRT relationship management and sales.

Responsibilities of this role include: Maintaining and supporting a suite of client agreements and forms, including various service agreements, trust agreements and investment management agreements. Negotiating, where applicable, service contracts with clients’ counsel or consultant; drafting and revising service contract provisions. Acting as a business unit liaison with Legal and WBR Risk Management and Compliance units on day to day issues. Serving as a resource for ERISA and regulatory questions that impact day to day plan and trust administration. Evaluating the impact of  major changes in the law and regulations pertaining to retirement plans  and working with corporate legal and WBR Risk and Compliance to advise on the effects of such changes as they relate to both the operation and administration of retirement plans, including any required changes to plan or trust documents. Educating internal staff regarding changes in the law and regulations pertaining to retirement plans.

Providing high level plan design consultation with emphasis on educating clients about plan design options and identifying design opportunities. Consulting on routine and non-complex plan correction processes. Providing high level consultation on individually designed plan provisions. Providing high level consultation on mergers and/or plan changes.

Serving as a resource for the sales group to respond to RFP questions pertaining to plan design and service questions and attending sales presentations where the potential client has specific questions relating to legal and risk aspects of the plan and the services to be provided. Consulting on suite of prototype and volume submitter plan documents, including answering routine questions on interpretation and design, and creation of required amendments.


Required Qualifications

  • 10+ years of employee benefits experience; or 4+ years of employee benefits with a Juris Doctorate degree

Desired Qualifications

  • Extensive knowledge and understanding of employee benefit recordkeeping
  • Strong cross-departmental relationship building skills
  • Excellent verbal, written, and interpersonal communication skills
  • Knowledge and understanding of Employee Retirement Income Security (ERISA) and IRS Section policy
  • Strong negotiating skills
  • A Juris Doctor (JD) degree

Other Desired Qualifications
  • Experience negotiating contracts, providing design consultation, and evaluating the impact of major changes in the law and regulations pertaining to retirement plans and working with legal and business partners to implement the effects of any such changes as they relate to both the operation and administration of retirement plans. 
  • Experience maintaining and supporting a suite of client agreements and forms, including various service agreements, trust agreements, investment management agreements.
  • Experience drafting and negotiating client agreements and forms.
  • Experience providing high level consultation on individually designed plan and trust documents.


All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.


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