Capital Markets Middle Office Analyst 4Apply now Job ID 5372253 Schedule Type Reg-Time Work Hours 40 Location San Francisco, California, Minneapolis, Minnesota, Charlotte, North Carolina, New York, New York;
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 smart 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 diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. 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.
Enterprise Finance plans, tracks, analyzes and reports financial results, manages the company’s balance sheet, including funding, capital and investments; oversees internal real estate needs; drives acquisitions; is responsible for financial controls; and leads corporate strategy.
The Securities Operations & Accounting group (SOA) in Corporate Finance is responsible for the settlement, clearing, custody, accounting and regulatory reporting for securities within the available-for-sale and held-to-maturity investment portfolios, as well as the Wells Fargo funding products (debt) and equities. SOA is responsible for the maintenance, control and data integrity of the related accounting systems of record.
This Middle Office role will primarily support Wells Fargo’s Asset and Liability Management (ALM) group which monitors and evaluates the Company’s exposure to interest rate risk, oversees the execution of strategies that enable the Company to achieve its short-term and long-term financial objectives while maintaining strong liquidity and capital levels, manages investment, funding, and interest rate risk within Board approved policy limits. The ideal candidate will have a solid understanding of GAAP, securities accounting rules and experience with derivative accounting.
This position requires an in-depth knowledge of financial products; familiarity with fixed income, capital markets, credit and interest rate derivative products; understanding of trade settlement workflow controls, the effect of operational breakdowns; and a good understanding of front-to-back processes within a multifaceted trading environment. Candidate will need to have extensive experience with trade capture, profit and loss reporting and risk analysis as it applies to a derivatives and securities. Candidate will interact with several different teams including trading, back office, front office, technology, risk/compliance and Wells Fargo Securities (WFS) middle Office.
Particular focus will be placed on the following four areas:  Evaluating FAS133 Hedge Effectiveness [ASC 815] of the Bank’s issued debt and derivative portfolio,  daily P&L for ALM’s Volker metrics reporting requirements, including reconciling between Front Office risk system and general ledger system of record,  Hedge accounting system testing and analysis for ASC 815, and (4) New hedge accounting program development and testing. Hedge accounting, derivatives and Volcker P&L metrics are highly complex areas of accounting and operations with significant regulatory and management focus. The candidate must have a strong understanding of controls and procedures to ensure all data is accurate and well controlled.
This position supports a business that is growing in terms of trade volumes as wells as product breadth.
Other Desired Qualifications
- Understanding of derivative accounting including identification, recognition, and reporting
- Wall Street Suite (WSS) knowledge a plus
- 3+ years of experience in trading middle office operations
- Familiar with cash [domestic and international] and securities [DTC] settlements
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.