Institutional Investment Operations Associate - (Client Commission Arrangements)

at  Wells Fargo

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

APPLICANTS WITH DISABILITIES

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .

Required Qualifications, US:

• 6+ months of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, educatio

Desired Qualifications:

• 1+ years’ of experience in a major financial institution or a minimum of 1+ years of CCA (Client Commission Arrangements) experience with trade support, reconciliations or commission and fees management.
• Strong knowledge and understanding of loan, securities, and derivative products.
• Excellent verbal, written, and interpersonal communication skills
• Effective organizational, multi-tasking, and prioritizing skills.
• Ability to work in a fast-paced deadline driven environment
• 4 year college degree (preferred majors are: Finance, Accounting, Math/Engineering or Economics).
• Proficiency in Microsoft Office applications with strong knowledge of Excel or Access is needed while also possessing analytical problem solving skills.
• The candidate must be an independent thinker yet adaptable to a procedure oriented and a fast-paced environment, have the ability to work independently on project related details and provide management and clients with ad-hoc information as needed.
• Strong verbal & written communication skills, ability to multi-task, perform under pressure and meet tight deadlines and the ability to solve problems otherwise escalate them immediately to the Manager to seek resolution.
• Basic understanding of general ledger accounting
• Proven experience utilizing CCA (Client Commission Arrangements).processing system or similar back office systems
• Experience in business analysis and working with project management

ABOUT THIS ROLE:

Wells Fargo is seeking an Institutional Investment Operations Associate in Capital Markets as part of Corporate Investment Banking.

IN THIS ROLE, YOU WILL:

Responsible for the daily administration of client’s commission management programs i.e. working with clients to reconcile accounts credits, issue monthly statements, and assist in the facilitation of payments.

• Provide operational and customer support for lifecycle tasks for institutional trades
• Assist with client account onboarding, input and monitoring of cash payments, customer service, funding operations, custodial operations, securities settlement services, asset servicing structured loan operations, general ledger reconciliation and work to resolve confirmation and ISDA related issues
• Assist in gathering data to support resolution of issues
• Receive direction from manager and exercise judgment within defined parameters of the area while developing understanding of various functions, policies and procedures
• Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals

Additional Responsibilities:

• Interact with the Business Management, Compliance, Finance to resolve client inquiries & reconciliation exceptions.
• Resolve CCA (Client Commission Arrangements) related breaks timely and accurately. Process inquiries pertaining to the CCA (Client Commission Arrangements) activity including but not limited to: trades earning / not earning commission, commission rates.
• Reconciliation of CCA (Client Commission Arrangements) client activity on daily and monthly basis
• Vet Client Vendors designated for Soft Payments: Gather proper documentation to authenticate research data that was provided to clients and payment requirements, such as wire instructions and Tax ID.
• Maintain clear and concise status reports of trading and payments activities pertaining to the CCA (Client Commission Arrangements) activities - commission credits, payments to vendors, available balances
• Coordinate with Legal, Risk & Compliance to ensure required documentation and client reporting is implemented properly & that industry and firm wide standards are adhered to.
• Perform monthly reporting for the commission management reports to Management.
• Generate CCA (Client Commission Arrangements) Monthly statements and ensure their accuracy
• Acts as a liaison between departmental end-users, technical analysts, information technology analysts, consultants and in the analysis, design, configuration, testing and maintenance of CMS system to ensure optimal operational performance.
• Maintain knowledge of department and industry specific process and procedures
• Perform other functions as assigned
• Interact with Operations, Front Office Trading and Sales, Finance, and Aggregator Brokers to resolve client commissions and fees issues.
• Work on various CCA (Client Commission Arrangements) Business projects.Review and generate various reports to management related to CCA (Client Commission Arrangements) commission upon request.
• Perform other responsibilities as assigned.

Required Qualifications, US:

• 6+ months of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• 1+ years’ of experience in a major financial institution or a minimum of 1+ years of CCA (Client Commission Arrangements) experience with trade support, reconciliations or commission and fees management.
• Strong knowledge and understanding of loan, securities, and derivative products.
• Excellent verbal, written, and interpersonal communication skills
• Effective organizational, multi-tasking, and prioritizing skills.
• Ability to work in a fast-paced deadline driven environment
• 4 year college degree (preferred majors are: Finance, Accounting, Math/Engineering or Economics).
• Proficiency in Microsoft Office applications with strong knowledge of Excel or Access is needed while also possessing analytical problem solving skills.
• The candidate must be an independent thinker yet adaptable to a procedure oriented and a fast-paced environment, have the ability to work independently on project related details and provide management and clients with ad-hoc information as needed.
• Strong verbal & written communication skills, ability to multi-task, perform under pressure and meet tight deadlines and the ability to solve problems otherwise escalate them immediately to the Manager to seek resolution.
• Basic understanding of general ledger accounting
• Proven experience utilizing CCA (Client Commission Arrangements).processing system or similar back office systems
• Experience in business analysis and working with project management.

This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
Employees 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.