Wells Fargo Job - 30691059 | CareerArc
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Company: Wells Fargo
Location: Manila, NCR, Philippines
Career Level: Associate
Industries: Banking, Insurance, Financial Services


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

About Enterprise Global Services
Enterprise Global Services (EGS) enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. EGS operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about EGS at our International Careers website.

Department Overview
The Capital Markets Accounting Operations Center of Excellence was established to bring the controller activities into one centralized team within the Controllers division that delivers expertise on anything and everything that touches the ledger. This team focuses on reconciliations and controls on fixed income, securities, and derivatives for Traded Products. The group performs reconciliations of books and records across Well Fargo Securities supporting the corporate general ledger, stock record, depositories, custodial positions, and SEC/regulatory reporting.

About the Role
The SOA Middle Office team supports the Middle Office function related to Assets Held-for-Sale & Held-To-Maturity portfolios. This function compares information between systems of record, trade capture system, and custodian records and receives several reconciliation reports prepared by SOA Balance and Control team. Exceptions are researched, updated, and resolved.


  • Validation procedure to ensure that Wells Fargo's short term daily funding does not exceed the 10% liquidity limit
  • Exceptions review of Balances in the Nonaffiliate (BONY) account to the corresponding GL accounts which were not automatically reconciled/matched
  • Transactions related to expected cash disbursements and payments versus actual cash received that were not automatically reconciled/matched
  • Manual review and reconciliation of GL balance versus –
    • Statement balance for Nonaffiliate Cash Due From/Money Market accounts
    • Supporting Documentation of designated accounts - WF-issued short term debts
    • Payment Receivable accounts - ensuring zero balances or accounting for payment lags
    • Supporting Documentation of designated accounts - EagleWeb entries and FHLB statement/activity reports
  • Manual reconciliation of repurchase agreements/preset collateral requirement versus collateral assigned to the agreement, ensuring the latter is sufficient for the prior business day
  • Manual reconciliation of all accounts and GL balances - (1) ensuring zero balances on suspense accounts and (2) matching GL with SIMCORP balances for MTOB accounts
  • Manual reconciliation and exceptions review of
    • WF positions versus automated trading application data files (Wells Capital and Blackrock)
    • WF positions versus Custodian automated position data files
  • Trades review for FAS167 securities for consolidation versus data files supplied by Mortgage and Controllers
  • Exceptions review of
    • Portfolio trades meeting Investment Grade agency ratings and exclusion of non-Investment Grade securities
    • Non-Intercompany activity and balances, ensuring these net to zero
    • Breaks that are less than 60 days between buy and sell date of the trade
  • Generate control reports from systems of records
  • Various validation activities

Market Skills and Certifications

Essential Qualifications

  • Candidates must be a CPA (Certified Public Accountant) or CFA, or FINRA Licensed (Series 7 or 99)
  • Must have at least 2 years of experience in accounting preferably in Private Equity Accounting and securities products, US Regulatory Reporting, US Financial Services and reconciliation/validation.
  • Experience with IntelliMatch and ticketing tools is a plus
  • Experience with reconciliations and the month end general ledger close process.
  • Familiarity in portfolio or securities accounting such as securities, commodities, investment funds, derivatives and especially foreign exchange
  • Must have in-depth background in compiling and analyzing financial information in preparing entries to accounts, such as general ledgers and document business transactions.
  • Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions
  • Ability to resolve accounting discrepancies
  • Must be able to establish, maintain, and coordinate the implementation of accounting and accounting control procedures
  • Candidates must be willing to work in night shifts (8:00PM to 5:00AM), or weekends/holidays if deemed necessary by the business

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.



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